MAM
Nimesh Shah rejoins Madison Digital as general manager
Mumbai: Madison Digital, the digital unit of Madison World, has announced the return of Nimesh Shah as General Manager for Madison Digital. He will co-lead the western region alongside Vineet Shah and will report directly to Madison Digital and Madison Media Alpha CEO Vishal Chinchankar.
Nimesh has over 14 years of experience in digital marketing out of which six years have been at Madison. He has a proven track record of success across brands and agencies and has also had an entrepreneurial stint. Apart from Madison, he has worked in companies like Kuoni India, Talwalkars Fitness Ltd; and prior to joining Madison he was at Essence Mediacom. Across his career he has worked on multiple reputed brands such as Tata Consumer Goods, Piramal Healthcare, Bluestar, Bayer Consumer Health Products, Hygienic Research Institute, Exide Batteries, among others. He holds a bachelor’s degree in BMS from Mumbai University and a post graduate diploma in Business Management from Rizvi Institute of Management.
Chinchankar expressed, “We are happy to welcome Nimesh back at Madison Digital. I am confident that his leadership will strengthen our capabilities in the western region, and I am extremely certain that his core abilities of strategic acumen and client focus will bring tremendous value for Madison and our clients.”
Shah comments on his re-joining, “I’m thrilled to reunite with Madison World and contribute to its digital initiatives in this ever-evolving landscape. I have had the privilege of witnessing the transformative power of digital and its impact on consumers. My focus will be on driving innovation, with a particular emphasis on data and technology-driven solutions to facilitate digital transformation and foster business. Together, we aim to redefine possibilities and create impactful, strategic experiences for our clients. I am super excited to be a part of this journey.”
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.
