MAM
DDB Mudra elevates Rajeev Raja to NCD
MUMBAI: DDB Mudra Group, a part of Mudra Group, has promoted Rajeev Raja to the position of national creative director for the entire group. He was earlier creative head of the group.
The DDB Mudra Group consist of four agencies- DDB Mudra, Tribal DDB India, RAPP India and Mudra Health & Lifestyle.
DDB Mudra Group CEO Sandeep Vij said, “The last few months have been invested in strengthening DDB Mudra Group with formidable talent, as well as molding an internal structure that enables us to build and harness our collective creative energy. I am delighted to announce that as NCD, Raja will be spearheading the collective creative efforts of the Group.”
Raja added, “I think it‘s a challenge and a great opportunity to create some stunning work for the Indian market in keeping with the international standards of DDB. What‘s truly exciting is that we won‘t be paying mere lip-service to the term integration; by integrating creative efforts across the four SBUs of the Group, we‘ll truly be embodying the philosophy of ‘One Voice‘.”
Raja has over 20 years of experience in advertising and has worked on brands such as Peter England, BPL, IBM, Virgin Mobile, TOI, Tata Salt, Nokia, Hamam, Tata AIG, Radio City and ICICI Credit Cards.
Raja is also a jazz and fusion flautists and has scored music for a Bollywood film, Bas Yun Hi.
Brands
Lotus Chocolate FY26 profit drops sharply, Q4 slips into loss
Revenue steady at Rs 579.55 crore, Q4 loss at Rs 4.47 crore
MUMBAI: Sweet on the top line, slightly bitter on the bottom Lotus Chocolate’s FY26 numbers tell a story that’s more dark cocoa than milk. The company managed to hold its revenue steady for the year, but profitability took a visible hit, capped by a loss-making fourth quarter. Lotus Chocolate Company Limited reported revenue from operations of Rs 579.55 crore for the year ended March 31, 2026, marginally up from Rs 573.75 crore in FY25. Total income rose to Rs 615.61 crore, compared with Rs 574.56 crore in the previous year, supported by a sharp jump in other income to Rs 36.06 crore from just Rs 0.81 crore.
However, the gains at the top did little to cushion profitability. Net profit for FY26 fell dramatically to Rs 0.10 crore, down from Rs 17.23 crore in FY25, reflecting significant cost pressures across the business.
The March quarter proved particularly challenging. The company reported a net loss of Rs 4.47 crore in Q4 FY26, compared with a profit of Rs 0.14 crore in the previous quarter and Rs 1.42 crore in the same quarter last year. Total income for the quarter stood at Rs 138.01 crore, down from Rs 150.21 crore in Q3 FY26 and Rs 157.52 crore in Q4 FY25.
Expenses remained elevated throughout the year. Total expenses rose to Rs 614.44 crore in FY26 from Rs 551.50 crore in FY25, eating into margins. A key swing factor was the cost of materials consumed, which stood at Rs 304.44 crore, while changes in inventories also reflected volatility, with a negative impact of Rs 62.44 crore in the previous year reversing to a positive Rs 52.93 crore this year.
Employee benefit expenses nearly doubled to Rs 34.00 crore from Rs 17.98 crore, while finance costs surged to Rs 16.31 crore from Rs 7.11 crore, indicating higher borrowing and funding costs. Depreciation and amortisation expenses also increased to Rs 3.92 crore from Rs 1.81 crore, reflecting ongoing investments.
On the balance sheet front, total assets stood at Rs 275.96 crore as of March 31, 2026, slightly higher than Rs 270.34 crore a year earlier. Borrowings remained significant, with current borrowings at Rs 89.00 crore, highlighting continued reliance on external funding.
Cash flow dynamics showed improvement in operations, with net cash generated from operating activities at Rs 93.23 crore, compared with a negative Rs 129.60 crore in FY25. However, financing outflows remained high at Rs 74.90 crore, driven largely by repayment of borrowings and interest costs.
Despite stable revenue, the sharp drop in profitability underscores the pressure of rising input costs, higher finance expenses and operational adjustments. The contrast between steady sales and squeezed margins leaves Lotus Chocolate at a crossroads proving that in business, as in confectionery, the real test isn’t just in the sweetness of sales, but in the richness of returns.
