MAM
Carat India onboards Aruni Panda as VP – digital
Mumbai: Carat India, from the house of dentsu India, has strengthened its leadership team for North and East. The agency has appointed Aruni Panda to lead these regions as vice president – digital.
In his new role, Panda will lead strategic thinking and oversee agency clients on the digital front, reporting into Carat India CEO Anita Kotwani. He will work closely with the office head of the regions – Carat India executive vice president – planning Dipika Bhasin.
Panda brings over 15 years of experience and is an ardent practitioner of ad-tech tools, programmatic media planning & buying, social media & content marketing, digital customer experiences management, customer acquisition and web analytics. Prior to this, he was with GTB (part of WPP’s network of companies) where he held the position of AVP and senior digital media director, handling digital media planning, buying and execution.
In his previous roles, Panda has been instrumental in helping brands and organisations develop digital marketing ecosystems by an outcome-led planning approach for the brand and the business. He has worked with brands like PepsiCo India and Ford India, to name a few across categories like FMCG, automotive, real estate, entertainment & sports, ISP & connectivity solutions, and IT-enabled executive education & training. Panda has re-positioned businesses as digital-first by setting up business-aligned digital ecosystems. He has also implemented and integrated seamless interplay between ad-tech and mar-tech stacks.
“With the changing dynamics of the media eco-system and a strong focus on digital across the clients of Carat, we felt it to be imperative to bring in a seasoned professional like Aruni to lead the digital mandate. His expertise across the full-funnel marketing will be an advantage that we would like to leverage across our existing and new client fold,” said Anita Kotwani, commenting on the appointment.
Dipika Bhasin added, “Aruni’s experience will charter current and new growth with our partners. He will hold a strong commitment to driving Carat’s digital practice and the integrated media offerings of dentsu India. We are extremely happy to have him as part of the team!”
“I am elated to embark upon this new journey with Carat India, an agency already known for its integrated approach backed by cutting-edge data tech and tools. It is critical to map, plan and build the right digital approach in this ever-evolving digital space for our clients to thrive into the future. I am looking forward to being a part of Carat’s growth story under Anita’s leadership and partnering with clients in their digital endeavour with the combination of media, data, commerce and technology,” commented Aruni Panda.
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.
