MAM
Amazon’s Kunal Tiwari joins GoKwik as chief product officer
Mumbai: GoKwik on Wednesday announced the onboarding of Amazon’s Kunal Tiwari as its chief product officer. According to a statement, the company aims to expand its product portfolio and further strengthen its existing product suite to offer best-in-class support to D2C brands.
In his new role, Tiwari will spearhead GoKwik’s overall product strategy, execution and innovation.
“Product innovation is one of our key strategic pillars as we are changing the way people experience shopping end to end,” commented GoKwik co-founder and CEO Chirag Taneja. “Kunal will be a huge asset to us as we move forward in this journey of building products that complement the remarkable work D2C eCommerce brands do. He is a seasoned product leader and shows true passion for solving customer and merchant pain points.”
Tiwari is a seasoned product and science leader with 15+ years of experience across banking, insurance, and e-commerce industries. In his last role at Amazon, he led multiple product portfolios, which ensured the safety and compliance of Amazon’s catalogue across 20+ marketplaces. Previously, he has led strategic science and product initiatives for BlackRock, AXA-XL, and Bank of America.
His expertise in building AI/ML-enabled products will help GoKwik to move faster and effectively towards its vision of democratising the shopping experience. GoKwik is building the best-in-class checkout experience for D2C brands that solve for personalisation, ‘Return to Origin (RTO)’ reduction and conversion rate improvement across the entire funnel, said the statement.
“Today, millions of customers are embracing thousands of D2C brands and this market is poised to be a $100 billion opportunity by 2025,” remarked Kunal Tiwari. “GoKwik, with its product suite and crystal clear vision, is well-positioned to take the industry forward and democratise this opportunity for the D2C brands. Personally, this is an interesting challenge and opportunity to blend data, tech, and science solutions from two completely different product stacks: fintech and e-commerce.”
A mechanical engineering graduate from Punjab Engineering College, Chandigarh and Kunal is also part of IIM-Bangalore’s advisory board for Data Centre and Analytics Lab.
Brands
Sapphire Foods FY26 revenue rises to Rs 3,125 crore, posts loss
Q4 revenue at Rs 792 crore, FY26 loss at Rs 32 crore amid cost pressures.
MUMBAI: If growth is on the menu, profitability seems to have taken a brief detour. Sapphire Foods India reported a steady rise in topline for FY26, even as rising costs weighed on profitability. Revenue from operations grew to Rs 3,125 crore for the year ended March 31, 2026, up from Rs 2,882 crore in FY25. However, the company swung to a loss, reporting a net loss of Rs 32 crore for FY26, compared to a profit of Rs 17 crore in the previous year. Total income for the year stood at Rs 3,153 crore, while total expenses climbed to Rs 3,167 crore, reflecting pressure across key cost heads.
In the March quarter, revenue came in at Rs 792 crore, compared to Rs 711 crore in the same period last year. The company reported a quarterly net loss of Rs 13 crore, against a profit of Rs 2 crore a year earlier.
Cost pressures remained visible across operations. Material costs rose to Rs 995 crore for FY26, while employee expenses increased to Rs 428 crore. Other expenses, the largest component, stood at Rs 1,229 crore, underscoring the impact of store operations and expansion-related spends.
Depreciation and amortisation expenses also climbed to Rs 392 crore for the year, reflecting continued investments in store infrastructure and growth.
At the operating level, the company reported a loss before tax of Rs 37 crore for FY26, compared to a profit of Rs 23 crore in FY25. Exceptional items added Rs 24 crore to the cost burden during the year.
On the balance sheet, total assets rose to Rs 3,256 crore as of March 31, 2026, up from Rs 3,041 crore a year earlier, indicating ongoing expansion. Net worth stood at Rs 1,389 crore.
Despite profitability pressures, operating cash flow remained resilient at Rs 507 crore, highlighting underlying business strength and demand stability.
The numbers paint a familiar picture in the quick-service restaurant space, growth continues to be served hot, but margins are still finding their footing.
