Brands
2023 NIQ bases breakthrough innovation awards in India
Mumbai: NielsenIQ has released its highly-anticipated BASES Breakthrough Innovation Awards for 2023. The awards recognize successful product launches across all strategies, ranging from launches that managed to disrupt their categories and grow their brand, to targeted plays that did not intend to appeal to the mass market but were meant to delight a specific target. This year, they are also acknowledging the ‘Wavemakers’ – innovations that, within less than three years, have already made a significant impact in their respective domain.
This year, Breakthrough Innovation named 10 winners among this year’s innovative brands in India that have transformed their categories. It also acknowledged 2 Wavemakers, products that show great potential for future success.
This year’s Breakthrough Innovation winners have successfully navigated through a persistently precarious landscape, marked by the enduring impact of the COVID-19 pandemic, supply chain disruptions and extraordinary inflationary constraints.
The recipients of this year’s India Breakthrough Innovation winners have made remarkable strides across diverse product categories. Buyers gravitated towards food and beverage brands that had a fun and indulgent aspect to them. Spicy flavors were very popular with buyers, but consumers were also seeking out healthy and whole ingredients in their snack foods. Whole ingredients transferred in other verticals too as buyers looked for healthy benefits in their personal care products with proactive and preventative care top of mind. Throughout all product categories, Breakthrough Innovation winners in Indian have excelled in delivering convenience through a variety of product formats and packaging options.
“When it comes to evaluating innovations, there is no ‘one size fits all’ approach anymore. It is critical to understand the business objectives and the innovation strategy”, said BASES Leader South Asia Vidya Sen. “However, one common thread for success is sustainability of the innovation in-market which is non-negotiable”. As a result, BASES looks at the scale of the innovations in year 1 and their sustained growth in year 2, to arrive at the winners.
BASES scrutinized 3000+ innovations across 85 categories in FMCG & OTC, to come up with 12-odd winners. The combined year 1 sales across the winners are Rs. 623 Crores, which speaks of the impact innovations can have if developed and executed with perfection.
“Innovation is more than making a change. It is making a difference!” said Sen.
The 2023 India Breakthrough Innovation Award Winners are:
- Cadbury 5 Star Oreo
- Cadbury Dairy Milk Lolly
- Cadbury Dairy Milk Silk Mousse
- Colgate Visible White O2
- L’Oreal Paris Dream Lengths
- Lay’s Sizzlin’ Hot
- SMOODH
- Sunfeast All Rounder Potato Biscuit – Cream & Herb
- Tata Soulfull Ragi Bites No Maida Choco
- Whisper Choice Night
The 2023 India Breakthrough Innovation Award Wavemakers are:
- Dettol Powder to Liquid Handwash
- Lay’s Gourmet
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.
