MAM
Stone Sapphire India Pvt Ltd appoints Shobhit Singh as the CEO
Mumbai: Stone Sapphire India Pvt Ltd, a manufacturing and distribution company, has announced the appointment of Shobhit Singh as chief executive officer (CEO). Previously serving as director, Singh’s new role is a strategic move aimed at enhancing the company’s market position and expanding its reach across various sectors.
Shobhit Singh, who has been instrumental in driving growth and innovation within the company, brings a wealth of experience and a visionary approach to his new role. Under his leadership, Stone Sapphire India Pvt Ltd aims to become the world’s largest iconic distribution brand company, focusing on relevance and value-added products across multiple categories.
“I am honoured to step into the role of CEO and lead Stone Sapphire into its next phase of growth,” said Stone Sapphire India Pvt Ltd CEO Shobhit Singh. “Our vision is to bring iconic and relevant brands to the Indian retail market, catering to diverse customer needs. We aim to achieve a significant milestone of clocking INR 1,000 crore in revenue over the next four years while maintaining our commitment to quality and customer satisfaction.”
Stone Sapphire India Pvt Ltd, known for its diverse product range, including toys, stationery, homeware, and sports equipment, is set to adopt a sector-agnostic approach. The company plans to expand its portfolio to include fast-moving consumer goods (FMCG) and other household categories. This strategic shift aims to capture a larger share of the Indian retail market by introducing brands that bring value and relevance to customers.
“Stone Sapphire’s journey started with a strong focus on kids’ products, but we are now moving towards a broader market presence,” added Singh. “Our goal is to cultivate purpose-driven brands that not only meet customer needs but also enrich the lives of our employees, dealers, and distributors. We are committed to creating a business that is relevant to all stakeholders, including suppliers, consumers, investors, and partners.”
In addition to expanding the product portfolio, Stone Sapphire India Pvt Ltd is focused on strengthening its distribution network. The company recently opened a new office in Noida in addition to its offices in Mumbai and Baroda, along with depots in Delhi and Bangalore. This expansion is part of a larger strategy to make the company’s distribution system more robust and efficient.
“We believe that our people are the cornerstone of our success,” said Shobhit Singh. “We are investing in hiring top talent at various levels, including CXOs, to bring best practices and professional expertise into the company. Our aim is to create a business that thrives on innovation, technology, and strategic growth.”
Outside of his professional responsibilities, he enjoys sports and meditation. His commitment to personal well-being and continuous learning reflects the company’s values of positivity and persistence.
With Shobhit Singh at the helm, Stone Sapphire India Pvt Ltd is poised for a transformative journey, aiming to set new benchmarks in the Indian retail market.
Brands
Domino’s Q1 profit falls 6.6 per cent, announces $1 billion buyback
Sales rise 3.4 per cent as pizza giant balances growth and shareholder returns
NEW YORK: Domino’s reported a mixed start to 2026, with first-quarter net income slipping even as global sales and store expansion held steady. The company also announced a fresh $1 billion share buyback, underlining its continued focus on shareholder returns.
Global retail sales rose 3.4 per cent on a constant-currency basis to $4.74 billion. The US remained a key growth engine, with same-store sales inching up 0.9 per cent, supported by a 1.5 per cent rise at company-owned outlets.
International markets, however, painted a more uneven picture. While Domino’s added 161 net new stores overseas during the quarter, international same-store sales declined 0.4 per cent. Overall revenues still climbed 3.5 per cent to $1.15 billion, driven by higher supply chain revenues and a 2.6 per cent increase in food basket pricing for franchisees.
On the profitability front, net income fell 6.6 per cent to $139.8 million, compared to $149.7 million a year earlier. Diluted earnings per share dropped to $4.13 from $4.33. The decline was largely attributed to a $30 million unfavourable swing in unrealised gains linked to its investment in DPC Dash Ltd.
Despite this, operational performance showed resilience. Income from operations rose 9.6 per cent to $230.4 million, supported in part by a $7.8 million pre-tax gain from the sale of a corporate aircraft.
Domino’s footprint continued to expand, with the company ending the quarter at 22,322 stores across more than 90 markets. In the US, digital orders remained dominant, accounting for over 85 per cent of retail sales in 2025.
The company also maintained its dividend payout, declaring $1.99 per share, payable on 30 June 2026. After repurchasing $75.1 million worth of stock during the quarter, the new authorisation lifts the total available for buybacks to $1.29 billion.
Domino’s chief executive officer Russell Weiner said the company’s scale and store-level economics position it well to capture further market share in 2026, even as competition intensifies.
As Domino’s leans into expansion and capital returns, the latest results show a business managing short-term pressures while keeping its long-term growth strategy firmly in play.
