MAM
Starcom launches independent agency FutureWorks to service Future Group
MUMBAI: Close on the heels of a humungous account win from Kishore Biyani’s Future Group, Starcom Media Vest Group has unveiled an independent agency called FutureWorks that will fully service the retail behemoth on strategic initiatives.
The media spend FutureWorks will handle has been pegged in excess of Rs 2 billion. Spearheading the initiative is Dinesh Singh Rathore as general maganer – India, he was previously heading Starcom’s Bangalore operations. Rathore will report to MD, India, West and South Manish Porwal.
Headquartered in Mumbai, it will operate as an autonomous associate unit of Starcom Worldwide and will work alongside its other specialist units. The company is scouting for professionals beyond the media business, apart from a few Starcom employees that have come on board. It will start with an initial team of around 20, which will be scaled up as the needs of the Future Group expand.
FutureWorks has highlighted the twin goals of delivering return on objectives and consumer connections to Future Group brands.
Rathore says that the agency will aim to reach out to the ‘consumer’ at multiple levels that could include movies, game shows and sport, including cricket.
The size of the business was reason enough for Starcom to approach the Future Group on setting up a special unit to service their account. Porwal said, “We believe that the communication needs of a retail brand is fundamentally different from that of packaged goods and other classical categories. To provide focus to the leveraging the Future Group’s opportunities, we decided to create a brand new unit, with its own vision, leadership and operating processes.”
Speaking on the single client agency, Pantaloons president – marketing Sanjeev Agrawal said that they are happy to partner with Starcom on their “journey of hyper growth”. In fact, he highlighted their quick approach as they recently initiated the co-sponsorship deal for season three of Kaun Banega Crorepati.
Future Group, whose flagship enterprise is Pantaloon Retail, operates through six verticals: Future Retail (encompassing all lines of retail business), Future Capital (financial products and services), Future Brands (all brands owned or managed by group companies), Future Space (management of retail real estate), Future Logistics (management of supply chain and distribution) and Future Media (development and management of retail media spaces).
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.
