MAM
Kumar Siddharath joins Madison Media to lead Mates
Mumbai: Madison Media on Wednesday announced the appointment of Kumar Siddharath to lead its entertainment unit Mates. Mates now will be integrated within Madison Media and will focus on brand solutions including in-film associations, celebrity associations, and other ancillary services related to entertainment, content and branding, the company said.
In this role, Siddharath will report to Madison Media and OOH partner and group CEO Vikram Sakhuja. Former founder and CEO of Mates Sooraj Bhalla has decided to pursue other interests.
With over 14 years of experience, Siddharath joins Madison Media with a multi-faceted understanding of content marketing, partnership & strategic alliances with a sharp focus on client servicing and business development. He has worked with companies like Endemol, UTV, Viacom 18, Reliance Broadcast Network, Optimystix Entertainment, and other production houses where he has produced big shows including “Roadies” and created AFPs for brands like HUL, Hero, Idea and Woodland amongst other brands.
Apart from production houses, his exposure ranges from industries like broadcast (TV and radio) to films and OTT to print and events. He was also director brand solutions at Omnicom Media Group.
“I am excited to have Siddharath join our team and provide our clients’ brands content solutions and further strengthen our Madison Media offering, all under one roof,” said Vikram Sakhuja.
Prior to joining Madison, Siddharath set up his own e-sport and gaming company Oreka eSports. He has also worked on brands like Daimler, Ford, HP Laptop and Hike over the years.
“I am excited to join Madison and look forward to creating a lot of interesting brand solutions that help our premium roster of clients create magic and meet their business goals,” said Kumar Siddharath.
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.
