Brands
Ola shutting down TaxiForSure, adds value-based services for customer convenience
MUMBAI: Ola has taken a leap in saving cash burn rate by shutting down TaxiForSure, the Banglore-based cab service it acquired last year. It has removed about 700 employees in the process of reworking its business model.
Ola is taking measures to widen its lead over Uber and crown itself as the space leader in India.
The web based cab service has launched value added services like providing free WiFi for customers of its premium Prime service. It also launched the mini cab service, the cheapest cab option.
In the process of shutting down TFS, employees from call centres, business development and driver relations were removed from their positions. The Integration is complete with TFS driver-partners and customers coming on board the Ola app.
According to the management, they have employed as many TFS employees for open roles in Ola to support our growth. For positions that cease to exist as a result of this transition, Ola has offered a three-month salary compensation.
Ola, backed by Softbank acquired TFS in 2015 at the cost of $200 Million with the intention of competing with Uber and widen its presence.
The competition is expected to intensify further in the coming months as Uber expands its focus on the Indian market after selling off its China operations to Didi Chuxing. Interestingly, Didi is a minority investor in Ola and also shares a common investor in SoftBank.
The functions of TFS slowed down right after taking over. It is learnt that the company has been unclear about brand positioning of TaxiForSure and so the TFS fleet was transferred to Ola supply. Insiders say the incentive for Ola was more lucrative for Ola than TaxiForSure. According to reports, the company will save about Rs 30 crore every month by shutting down TFS. The option for TaxiForSure will phase out from Ola App over time.
Brands
Kwality Wall’s reports standalone losses following strategic HUL demerger
Ice cream major faces Rs 64 crore Ebitda loss amid commodity inflation and muted Q3 sales
MUMBAI: Kwality Wall’s (India) Limited (KWIL) has released its first set of financial results as a standalone entity, revealing a challenging start to its independent journey. Following its successful demerger from Hindustan Unilever Limited (HUL) on 1st December 2025 and its subsequent listing on 16th February 2026, the company is navigating a transition period marked by structural changes and high input costs.
For the quarter ended 31st December 2025, the company reported revenue of Rs 222 crores. Despite the revenue base, the bottom line was impacted by several factors, resulting in an Ebitda loss of Rs 64.2 crores. When calculated on a Pre-IND AS 116 basis, the Ebitda loss stood at Rs 83.8 crores.
Organic Sales Growth (OSG) declined by 6.5 per cent year-on-year during the quarter. Volume growth, however, saw a marginal increase of 1.2 per cent. The company reported a gross margin of 41.5 per cent. Additionally, exceptional expenses amounting to Rs 94 crores were recorded, primarily linked to non-recurring costs during the transition phase.
Performance across portfolios and channels was mixed. Within the impulse portfolio, brands such as Magnum and Cornetto recorded mid-single digit volume growth, indicating steady demand in on-the-go consumption. However, the in-home portfolio, which includes take-home packs, experienced muted consumption. The company is planning a relaunch of this category with improved offerings ahead of the 2026 season.
Quick commerce (Q-Com) continued to emerge as a strong growth driver, delivering robust double-digit growth during the quarter. Meanwhile, the company also expanded its physical distribution network by increasing the number of company-owned cabinets across markets.
Margin pressure during the quarter was driven by a combination of one-off factors and broader cost inflation. Gross margins were impacted by around 600 basis points due to trade investments made for stock liquidation. Additionally, cocoa price inflation contributed to another 400 basis points of pressure on margins.
Deputy managing director Chitrank Goel attributed the muted performance partly to prolonged monsoons and transitional challenges linked to the GST framework. Operating expenses also increased as the company invested in establishing its standalone supply chain, operational systems and corporate infrastructure following the demerger.
Looking ahead, the management remains focused on a volume-driven growth strategy. To restore profitability, the company has initiated a cost productivity programme aimed at reducing non-consumer-facing costs. It is also working on building regional manufacturing networks to optimise logistics expenses and improve operational efficiency.
The commodity outlook for the near term remains mixed. Dairy prices are expected to remain firm due to tight supply conditions and rising fodder costs. Sugar prices may also move higher following increases in the Minimum Selling Price (MSP). While cocoa prices have moderated recently, currency depreciation has offset some of the potential cost relief for the company.
