Brands
Angel One names Ambarish Kenghe as group CEO
MUMBAI: Known affectionately in fintech circles as AK-no, not the Indian cinema stalwarts Anil Kapoor or Anurag Kashyap-Ambarish Kenghe is poised to script his own blockbuster.
Angel One has unveiled its ace move, appointing Kenghe as group CEO effective March 2025, marking a bold step in its quest to revolutionise the fintech space. This leadership shake-up signals Angel One’s unyielding commitment to innovation, cementing its role as a trailblazer in the ever-evolving digital financial ecosystem.
Kenghe is a renowned technology and product leader with a distinguished career spanning fintech, e-commerce, and consumer electronics. Most recently, as Google Pay APAC vice president & general manager, he played a critical role in expanding Google Pay’s footprint and strengthening India’s UPI ecosystem. He also contributed significantly to the development of Chromecast and Google TV.
Before joining Google, AK served at Myntra as chief product officer, where he led AI/ML-driven innovations that transformed fashion e-commerce. Earlier in his career, he was a strategy consultant at Bain & Company in San Francisco and a high-speed switching engineer at Cisco Systems in San Jose. A prolific inventor with four patents, AK’s academic achievements include degrees from UC Berkeley, Purdue University, IIT Kanpur, and AMU.
Expressing his enthusiasm for the new role, Kenghe said, “I am truly honoured to be part of Angel One, a brand that has been at the forefront of transforming India’s fintech landscape. With its focus on innovation and customer-centricity, Angel One has built a strong foundation. I am eager to work with the talented team to drive the next phase of growth and empower users with advanced financial solutions.”
Angel One chairman & MD, Dinesh Thakkar welcomed Kenghe with optimism, stating, “Ambarish’s appointment as CEO marks an exciting new era for Angel One. With his proven track record of driving innovation and deep expertise in the industry, he is the visionary leader we need to propel us into our next chapter of growth. At Angel One, we believe strong leadership shapes the future of fintech. Ambarish’s guidance will position us not only to keep pace with the ever-changing financial landscape but also to lead the charge in transforming how financial services are delivered, empowering our customers with groundbreaking solutions and unparalleled value.”
Angel One continues to drive the fintech revolution, with this leadership appointment reflecting its commitment to providing groundbreaking, customer-centric financial solutions.
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.
