MAM
TiECon UP 2026 spotlights Kanpur as innovation hub
PMO advisor, ministers, VCs and founders converge on 1 March for entrepreneurship summit.
MUMBAI: Kanpur just turned the spotlight on Uttar Pradesh’s startup dreams because when policy, capital and chaiwalas meet, even the leather city starts dreaming in unicorn colours. TiECon UP 2026, the flagship entrepreneurship summit organised by TiE Uttar Pradesh, took place on 1 March 2026 at Hotel Taj Eternity in Kanpur, drawing nearly 20 leading venture capital firms, close to 45 industry leaders, and a packed house of founders, ecosystem players and students from across India and international markets.
The event featured a keynote by prime minister’s office advisor Sudhanshu Trivedi, alongside senior government voices including K. Vijayendra Pandian (Divisional Commissioner, Kanpur), Vijay Kiran Anand (CEO, Invest UP), and Manindra Agrawal (Director, IIT Kanpur). TiE UP leadership president Rao Vikram Singh, TiECon chairman Sanjeev Shriya, and governing council member Atul Kapoor underscored the state’s rising entrepreneurial momentum.
Balaji Wafers founder & CMD Chandu Bhai Virani delivered a candid keynote “Winds of Change in UP”, stressing that sustainable scale comes from operational discipline, strong distribution, long-term execution, and staying grounded in values. “Beyond profits and growth, entrepreneurs must strive to be good human beings, supporting communities, creating opportunities for others, and building businesses rooted in integrity and social responsibility,” he said.
TiECon UP chairman Sanjeev Shriya highlighted the conference’s significance, “The strong presence of policymakers, institutional leaders and leading venture investors on a single platform demonstrates that Uttar Pradesh is increasingly being viewed not merely as a consumption market, but as a serious hub for enterprise creation, manufacturing strength and technology-led innovation.”
The day packed thematic sessions including “Zero to Unicorn – All Unicorns Start from an Idea”, deeptech and defence dialogues, next-generation leadership discussions, curated masterclasses on pitching to VCs, leveraging networks, and AI’s role in value creation. The closing plenary “India @ 2030: Unlocking the Next Wave of Entrepreneurship” brought policymakers and ecosystem leaders together to debate infrastructure, regulatory simplification, and capital flow needed to nurture high-growth enterprises in the state.
In a state racing to become a key contributor to India’s innovation story, TiECon UP 2026 wasn’t just another conference, it was Kanpur declaring its seat at the national startup table, one bold idea and one strong handshake at a time.
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.
