MAM
Happy Mumbai wins two accounts
MUMBAI: The Mumbai office of Happy Creative Services, a Bengaluru-based creative idea shop, has bagged two new clients – Erosnow.com and Ola Cabs.
Erosnow.com is the digital arm of the movie company Eros International. It is a subscription-based website where people can watch Bollywood movies on demand and also features Tamil and Telugu movies. Erosnow.com shall also offer music and humour content alongside the movie offering.
On winning the account, Happy Creative Services Mumbai GM Pallavi Nayak said: “Its an opportunity to take Bollywood to the world. And we can‘t think Eros enough for choosing us to do the job. We have a lot of exciting things planned for the global audience. Its all about the movies and that can only be fun and entertaining.”
Ola Cabs is a technology-based cab service that allows people to book a cab directly through an app on smart phones in addition to provision for booking via telephone and the web. Currently operating in Mumbai, Delhi and Bangalore, the company plans to establish its presence in eight cities within the year.
Happy Creative Services CEO Kartik Iyer said, “It‘s about time we had a proper organized cab service in our country. We‘re really excited to be working with Ola Cabs to launch their brand in the country and closer to each city.”
Ola Cabs CEO Bhavish Aggarwal CEO added, “I was impressed with the simplicity and broad appeal of Happy‘s past work and that‘s exactly what we wanted at Ola.”
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.
