Brands
Blue Dart re-appoints Balfour Manuel as managing director for second five-year term
Mumbai: Integrated transportation and distribution logistics company, Blue Dart Express has re-appointed Balfour Manuel as managing director for another term of five years with effect from 16 May 2022. The shareholders of the company approved his re-appointment at the recently held Annual General Meeting, the company said in a statement.
Balfour Manuel has been instrumental in the success of Blue Dart since its inception. He has been with the organisation since its initial days in 1983 and has played a key role in focusing its ‘People Centric’ philosophy.
Blue Dart chairman Sharad Upasani commented, “Despite the VUCA environment, under Balfour’s leadership, we are elated to see the robust growth that Blue Dart has achieved in the last four years. His extensive knowledge and all-round experience in the logistics sector has enabled the organisation to surpass emerging challenges and remain a leader in the logistics space. We are optimistic that, the ensuing years, will be more rewarding and Blue Dart will continue to deliver excellent results year over years.
Balfour Manuel said, “The next five years are going to be challenging and I am grateful to have this opportunity to set new benchmarks. Like always, we will persistently focus on overall sustainable growth and expansion and remain the nation’s trade facilitator and a deeply customer-centric brand, offering wide range of logistics solutions that cater to our customers’ needs.”
“With a keen focus on technology & digitalization, infrastructure, strengthening of our aircraft fleet, our brand and ‘people connect’, we will continue to remain a Provider of Choice, consistently working towards the group’s credo, ‘Connecting People, Improving Lives,” he added.
Further, Blue Dart has strengthened its present Board composition with the induction of Prakash Apte and Padmini Khare Kaicker as Independent Directors of the Company for a term of five years, effective from 28 July 2022.
Prakash Apte’s professional career spans over 40 years, most of which has been with multinationals in various positions related to Specialty Chemicals, Pharma & Agribusiness industries. He brings with him experience in the areas of global business & strategy, finance, governance, leadership and personal values.
A qualified chartered accountant from ICAI, Padmini Khare Kaicker is managing partner of B. K. Khare & Co.. She brings with her experience in the areas of strategy, finance, risk & governance, business and organisational matters.
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.
