MAM
FCB Ulka appoints Ajay Ravindran as national planning director
Mumbai: – FCB Ulka, part of FCB Group India, has announced the appointment of Ajay Ravindran as national planning director.
Ajay comes to FCB Ulka with remarkable breadth and depth of experience. He has a 360-degree view of brand strategy, having worked on the entire gamut from advertising to social media, content, media planning, and market research. He specializes in new-age planning, bringing together storytelling, social media culture, and technology.
In his previous role as head of brand marketing for Razorpay, Ajay oversaw numerous campaigns that seamlessly integrated technology, creativity, and storytelling, demonstrating his ability to deliver successful and innovative strategies. Over his career, Ajay has worked on brands like Unilever, Britannia, Colgate, Vodafone-Idea, Dell, Titan, TVS, 3M and many others. He is a multi-time EFFIE award winner. He has led planning teams in agencies like Ogilvy, VML, MullenLowe Lintas Group & Grey with distinction.
On the appointment, FCB Ulka CEO Kulvinder Ahluwalia said, “We are thrilled to have Ajay join us as our National Planning Director. His exceptional blend of creativity and strategic insight will play a pivotal role in enhancing our capabilities and driving impactful brand solutions for our clients. We believe his leadership will strengthen our strategic initiatives and inspire our teams to push the boundaries of creativity.”
“I believe the true power of Brand Marketing lies not just in creating ‘buzz’ or some fuzzy ‘brand love’ but unlocking hidden growth opportunities for businesses. And the new-age we live in provides us with an array of avenues to do this – technology, digital, data, content, CX. FCB Ulka provides the finest playground to practice this craft. An enviable client roster, entrenched relationships, and a burning desire to do the very best for the businesses we work on. Just a few minutes into the conversation with Dheeraj, Nitin, Kulvinder and Hemant, I just had one question: “When can I start?” Ajay expressed on his appointment.
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.
