MAM
Dentsu Aegis Network appoints Harsha Joshi as EVP- group trading
MUMBAI: Dentsu Aegis Network has appointed Harsha Joshi as its executive VP- group trading. Joshi will report to Dentsu Aegis Network chairman and CEO south Asia Ashish Bhasin.
Joshi is an industry veteran who brings with her over 23 years of experience in media buying & planning, branded content and media audit and advisory.
She has been the head of media buying at Fulcrum (Mindshare), headed media buying at Madison Media for 12 years. She also served as CEO – media & international at Spatial Access Media Solutions and her last stint was at McKinsey, India as media advisory.
Bhasin said, “The remarkable growth that the Dentsu Aegis Network has had has resulted in our scale growing rapidly. To ensure our clients get the best global practices in the extremely important area of Trading, we decided to invest in a very senior resource. After evaluating several candidates, we were delighted to have Harsha join us. She brings with her unparalled experience in the area of Trading and we will use her expertise across the Dentsu Aegis Network. Trading is our strength and Harsha will help us maintain that edge.”
Sounding excited about her new assignment, Joshi added, “I am truly looking forward to this role. With three strong media agencies, Carat, Vizeum and Dentsu Media in our group, and with so many large local and global clients, I am sure that we will be able to add value to our clients like no other agency can. Their professional and transparent approach, backed by best-in-class people, global tools, learning and systems attracted me to join Dentsu Aegis Network, which is India’s fastest growing advertising & media network for the second year in a row.”
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.
