MAM
DDB Mudra South & East appoints Tejali Shete, Ajay Menon as senior creative directors
MUMBAI: DDB Mudra South and East has appointed Tejali Shete and Ajay Menon as senior creative directors. The duo will be based out of the agency’s Bengaluru office.
With over a decade of experience in the creative communications industry, Shete joins DDB Mudra from Grey Worldwide and a short stint at Leo Burnett, Kuala Lumpur. Shete has worked with agencies including Contract, Lowe Lintas, Ogilvy & Mather, Creativeland Asia, and Percept/H.
On the other hand, Menon joins DDB Mudra from JWT Chennai where he was senior creative director & AVP. With over 16 years of experience, Menon has worked at Orchard in Mumbai, JWT in Chennai and Saatchi in Bengaluru.
Shete said, “Joining DDB Mudra South and East was an easy decision for me, considering their diverse brand portfolio that carries immense potential, the quality of talent and a young and energetic team. Besides, I am excited to work with Sonal Dabral, whose work I have been following since the days when I was cutting my teeth in advertising. He has fostered an excellent balance between creative excellence and focus on client success at DDB Mudra, which would help us as a team to achieve laurels on national as well as international platforms.”
Menon added, “Back in Bengaluru after nine years, coming to DDB Mudra is in many ways, a homecoming. This agency offers some great things – strong leadership, an emphasis on creativity, an open culture, a terrific team and great brands. In other words, all the necessary elements to create great advertising. It’s an opportunity that no creative guy looking to making an impact will pass.”
DDB Mudra South & East president Ranji Cherian said, “I am delighted to have Tejali Shete & Ajay Menon join our team at DDB Mudra South and East. They come in with solid experience and strong body of work to showcase. They are extremely talented and nice to work with and fit into our DDB culture that prioritizes creativity & humanity. I am confident that their contribution will take our agency to greater heights.”
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.
