MAM
SMG elevates Sriram Sharma to VP South ops
MUMBAI: Starcom MediaVest Group (SMG) has promoted Sriram Sharma to the post of SMG South India VP. He will take over as the head of the Chennai operations in addition to the Bangalore office and will continue reporting in to SMG India CEO Mallikarjunadas CR.
Meanwhile, SMG has also announced appointment of GV Sudha as Starcom and VivaKi Exchange Chennai business director. She will lead all businesses in Chennai and will report in to Sharma.
Sudha comes to SMG after a two year stint with Madison. She has 14 years of experience in media and has worked with organisations like Lodestar UM, Ogilvy & Mather and Lintas.
Mallikarjunadas said, “Sriram’s track record with us speaks volumes of his talent and capabilities. We are sure he will lead the southern offices successfully. As for Sudha, we are extremely happy to welcome her to the SMG family. Her experience in media will surely accelerate the growth of SMG in Chennai.”
Sharma added, “I am honoured to be given this opportunity to lead SMG in the South. My experience till now has been fabulous and I look forward to the new responsibilities.”
Brands
Sapphire Foods FY26 revenue rises to Rs 3,125 crore, posts loss
Q4 revenue at Rs 792 crore, FY26 loss at Rs 32 crore amid cost pressures.
MUMBAI: If growth is on the menu, profitability seems to have taken a brief detour. Sapphire Foods India reported a steady rise in topline for FY26, even as rising costs weighed on profitability. Revenue from operations grew to Rs 3,125 crore for the year ended March 31, 2026, up from Rs 2,882 crore in FY25. However, the company swung to a loss, reporting a net loss of Rs 32 crore for FY26, compared to a profit of Rs 17 crore in the previous year. Total income for the year stood at Rs 3,153 crore, while total expenses climbed to Rs 3,167 crore, reflecting pressure across key cost heads.
In the March quarter, revenue came in at Rs 792 crore, compared to Rs 711 crore in the same period last year. The company reported a quarterly net loss of Rs 13 crore, against a profit of Rs 2 crore a year earlier.
Cost pressures remained visible across operations. Material costs rose to Rs 995 crore for FY26, while employee expenses increased to Rs 428 crore. Other expenses, the largest component, stood at Rs 1,229 crore, underscoring the impact of store operations and expansion-related spends.
Depreciation and amortisation expenses also climbed to Rs 392 crore for the year, reflecting continued investments in store infrastructure and growth.
At the operating level, the company reported a loss before tax of Rs 37 crore for FY26, compared to a profit of Rs 23 crore in FY25. Exceptional items added Rs 24 crore to the cost burden during the year.
On the balance sheet, total assets rose to Rs 3,256 crore as of March 31, 2026, up from Rs 3,041 crore a year earlier, indicating ongoing expansion. Net worth stood at Rs 1,389 crore.
Despite profitability pressures, operating cash flow remained resilient at Rs 507 crore, highlighting underlying business strength and demand stability.
The numbers paint a familiar picture in the quick-service restaurant space, growth continues to be served hot, but margins are still finding their footing.
