Latest news with #SupamMaheshwari
Time of India
27-05-2025
- Business
- Time of India
FirstCry parent's Q4 net loss widens 2.5x to Rs 111.5 crore despite revenue growth
Brainbees Solutions , the parent company of mother and baby care products retailer FirstCry , reported a subdued performance for the quarter ended March 31, with its consolidated net loss widening 2.5 times year-on-year (YoY) to Rs 111.5 crore, compared to Rs 43 crore in the same period last year. The Pune-based company's consolidated operating revenue, however, rose 16% YoY to Rs 1,930.3 crore during the quarter. FirstCry's India multi-channel business generated revenue of Rs 1,337.3 crore, an 11.5% increase from Rs 1,198.9 crore in the year-ago period. Its house-of-brands subsidiary, GlobalBees, recorded a 33.4% rise in operating revenue to Rs 398.4 crore, despite a broader consumption slowdown. The company's international business also grew 11.2% YoY, with revenue reaching Rs 205.3 crore. 'We feel we should have delivered more both in India multi-channel and even in the international (business). The other two segments have done well. We want to expand our Ebitda margins faster in GlobalBees, as the business is still small… Also, in the India multi-channel, especially offline, we would like to see better performance,' CEO Supam Maheshwari said during the company's earnings call. Despite revenue growth across business segments, consolidated expenses increased to Rs 1,914.4 crore, up from Rs 1,633.7 crore in the previous quarter. The cost of materials consumed surged 59.8% to Rs 222.8 crore, while employee benefit expenses rose 6.5% to Rs 147 crore. During the quarter, Nitin Agarwal stepped down as CEO of GlobalBees, with Anuj Jain taking over the role. The company's board, in line with a decision made on March 25, approved additional investments in GlobalBees. FirstCry had earlier cleared an investment of up to Rs 146 crore in GlobalBees through the subscription of compulsorily convertible preference shares (CCPS). As per a valuation report, the final amount stood at Rs 1,46,00,94,000, including an incremental investment of Rs 94,000 as part of this total, the company said. The board also approved a fresh investment to support the company's international expansion. FirstCry will invest up to AED 32 million (approximately Rs 74.1 crore) in its wholly owned subsidiary FirstCry Management DWC LLC. Of this, around SAR 28 million (Rs 63.5 crore) will be infused by this entity into FirstCry Trading Company for business expansion, with the remainder going to FirstCry Retail DWC LLC, UAE. FirstCry, which listed on the bourses on August 13, debuted at a 40% premium over its issue price of Rs 549. The SoftBank and Premji Invest-backed company claims to have an annual transacting consumer base of 10.6 million. It offers 1.8 million stock-keeping units (SKUs) from 8,019 brands on its platform. The company offers a wide portfolio of products, including apparel, footwear, baby gear, nursery items, diapers, toys, and personal care, sourced from Indian third-party brands, global brands, and its own private labels. Its in-house brands include Pine Kids, Cute Walk, and Babyoye. Shares of FirstCry closed nearly flat at Rs 375.2 on the BSE on Monday.
Time of India
26-05-2025
- Business
- Time of India
Firstcry's FY25 revenue rises 18% to Rs 7,659 crore
Bengaluru: FirstCry reported an 18% increase in revenue to Rs 7,659 crore in the 2024-25 financial year, even as the omnichannel retailer narrowed its loss to Rs 2,648 crore, down from Rs 3,215 crore a year earlier. The company's India multi-channel business contributed Rs 5,278 crore, up 15% year-on-year, while its D2C brand aggregator Globalbees posted Rs 1,577 crore in revenue, up 30% from the 2023-24 financial year In an analyst call on Saturday, CEO Supam Maheshwari acknowledged recent customer experience challenges tied to last-mile delivery, particularly within the India online segment. "Some of our delivery partners faced manpower constraints, which impacted delivery timelines," he said, adding that FirstCry began piloting alternative logistics models with local partners to reduce delivery windows from six hours to as low as three in select cities. The company plans to expand this model to more locations without increasing costs. Globalbees, which houses several D2C brands, swung to profitability at the Ebitda level, with a margin of 1.4% compared to 0.2% last year. As of March, the company operated 1,156 modern stores, including 527 company-owned stores under the FirstCry and BabyHug formats. Maheshwari said FirstCry's offline strategy will remain integral to its multi-channel approach. "About 38% of our GMV in the top 20 cities comes from customers who shop both online and offline," he said. "We'll continue expanding offline operations in FY26 at a pace similar to FY25, but with greater capital efficiency. " The company reported 18% growth in GMV for its online business in the last fiscal, compared to 11–12% growth in the offline channel. Maheshwari also reiterated FirstCry's long-term bet on its in-house brands, which now account for over 55% of the platform's business.
Economic Times
26-05-2025
- Business
- Economic Times
FirstCry parent's Q4 net loss widens 2.5X to Rs 111.5 crore despite revenue growth
Brainbees Solutions, the parent company of mother and baby care products retailer FirstCry, reported a subdued performance for the quarter ended March 31, with its consolidated net loss widening 2.5 times year-on-year (YoY) to Rs 111.5 crore, compared to Rs 43 crore in the same period last Pune-based company's consolidated operating revenue, however, rose 16% YoY to Rs 1,930.3 crore during the India multi-channel business generated revenue of Rs 1,337.3 crore, an 11.5% increase from Rs 1,198.9 crore in the year-ago period. Its house-of-brands subsidiary, GlobalBees, recorded a 33.4% rise in operating revenue to Rs 398.4 crore, despite a broader consumption slowdown. The company's international business also grew 11.2% YoY, with revenue reaching Rs 205.3 crore. 'We feel we should have delivered more both in India multi-channel and even in the international (business). The other two segments have done well. We want to expand our Ebitda margins faster in GlobalBees, as the business is still small… Also, in the India multi-channel, especially offline, we would like to see better performance,' CEO Supam Maheshwari said during the company's earnings call. Despite revenue growth across business segments, consolidated expenses increased to Rs 1,914.4 crore, up from Rs 1,633.7 crore in the previous quarter. The cost of materials consumed surged 59.8% to Rs 222.8 crore, while employee benefit expenses rose 6.5% to Rs 147 crore. During the quarter, Nitin Agarwal stepped down as CEO of GlobalBees, with Anuj Jain taking over the role. The company's board, in line with a decision made on March 25, approved additional investments in GlobalBees. FirstCry had earlier cleared an investment of up to Rs 146 crore in GlobalBees through the subscription of compulsorily convertible preference shares (CCPS). As per a valuation report, the final amount stood at Rs 1,46,00,94,000, including an incremental investment of Rs 94,000 as part of this total, the company board also approved a fresh investment to support the company's international expansion. FirstCry will invest up to AED 32 million (approximately Rs 74.1 crore) in its wholly owned subsidiary FirstCry Management DWC LLC. Of this, around SAR 28 million (Rs 63.5 crore) will be infused by this entity into FirstCry Trading Company for business expansion, with the remainder going to FirstCry Retail DWC LLC, which listed on the bourses on August 13, debuted at a 40% premium over its issue price of Rs 549. The SoftBank and Premji Invest-backed company claims to have an annual transacting consumer base of 10.6 million. It offers 1.8 million stock-keeping units (SKUs) from 8,019 brands on its platform. The company offers a wide portfolio of products, including apparel, footwear, baby gear, nursery items, diapers, toys, and personal care, sourced from Indian third-party brands, global brands, and its own private labels. Its in-house brands include Pine Kids, Cute Walk, and of FirstCry closed nearly flat at Rs 375.2 on the BSE on Monday.
Time of India
26-05-2025
- Business
- Time of India
FirstCry parent's Q4 net loss widens 2.5X to Rs 111.5 crore despite revenue growth
Brainbees Solutions , the parent company of mother and baby care products retailer FirstCry , reported a subdued performance for the quarter ended March 31, with its consolidated net loss widening 2.5 times year-on-year (YoY) to Rs 111.5 crore, compared to Rs 43 crore in the same period last year. The Pune-based company's consolidated operating revenue, however, rose 16% YoY to Rs 1,930.3 crore during the quarter. FirstCry's India multi-channel business generated revenue of Rs 1,337.3 crore, an 11.5% increase from Rs 1,198.9 crore in the year-ago period. Its house-of-brands subsidiary, GlobalBees, recorded a 33.4% rise in operating revenue to Rs 398.4 crore, despite a broader consumption slowdown. The company's international business also grew 11.2% YoY, with revenue reaching Rs 205.3 crore. 'We feel we should have delivered more both in India multi-channel and even in the international (business). The other two segments have done well. We want to expand our Ebitda margins faster in GlobalBees, as the business is still small… Also, in the India multi-channel, especially offline, we would like to see better performance,' CEO Supam Maheshwari said during the company's earnings call. Despite revenue growth across business segments, consolidated expenses increased to Rs 1,914.4 crore, up from Rs 1,633.7 crore in the previous quarter. The cost of materials consumed surged 59.8% to Rs 222.8 crore, while employee benefit expenses rose 6.5% to Rs 147 crore. During the quarter, Nitin Agarwal stepped down as CEO of GlobalBees, with Anuj Jain taking over the role. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The company's board, in line with a decision made on March 25, approved additional investments in GlobalBees. FirstCry had earlier cleared an investment of up to Rs 146 crore in GlobalBees through the subscription of compulsorily convertible preference shares (CCPS). As per a valuation report, the final amount stood at Rs 1,46,00,94,000, including an incremental investment of Rs 94,000 as part of this total, the company said. The board also approved a fresh investment to support the company's international expansion. FirstCry will invest up to AED 32 million (approximately Rs 74.1 crore) in its wholly owned subsidiary FirstCry Management DWC LLC. Of this, around SAR 28 million (Rs 63.5 crore) will be infused by this entity into FirstCry Trading Company for business expansion, with the remainder going to FirstCry Retail DWC LLC, UAE. FirstCry, which listed on the bourses on August 13, debuted at a 40% premium over its issue price of Rs 549. The SoftBank and Premji Invest-backed company claims to have an annual transacting consumer base of 10.6 million. It offers 1.8 million stock-keeping units (SKUs) from 8,019 brands on its platform. The company offers a wide portfolio of products, including apparel, footwear, baby gear, nursery items, diapers, toys, and personal care, sourced from Indian third-party brands, global brands, and its own private labels. Its in-house brands include Pine Kids, Cute Walk, and Babyoye. Shares of FirstCry closed nearly flat at Rs 375.2 on the BSE on Monday.
