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Bank of Baroda shines with five wins at IBA tech awards
MUMBAI: Bank of Baroda has once again proven it’s not just about numbers, but also about innovation. At the Indian Banks’ Association’s 21st Annual Banking Technology Awards 2024-25, the public sector giant scooped up five accolades, including four category wins and a special mention.
The bank was named winner in best AI & ML adoption, best fintech & DPI adoption, best IT risk management, and best tech talent. On top of that, it received a special mention in the best technology bank category, cementing its reputation as a tech-savvy trailblazer.
Managing director & ceo Debadatta Chand said, “We are honoured to be recognised by the IBA. These awards reflect our ongoing commitment to innovation, risk management, and building a strong technology team. We will continue to invest in future-ready capabilities to make banking seamless, secure, and rewarding for our customers.”
With these wins, Bank of Baroda is sending a clear signal: in today’s world, banking is as much about bytes as it is about bucks.
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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.
