MAM
Digital warfare: Political parties sink over ₹56cr into ads ahead of crucial Maharashtra civic polls
MUMBAI: As Maharashtra prepares for one of its most high-stakes local elections on 15 January, political parties have shifted their primary battleground from the streets to the smartphone screen. Combined disclosures from Meta’s Ad Library and the Google Ads Transparency Centre reveal that political entities have spent a staggering ₹56–₹57 crore on digital advertising between mid-December 2025 and January 2026.
With polling set for 29 municipal corporations, including the “cash-rich” Brihanmumbai Municipal Corporation (BMC), the surge in digital outlays reflects a strategic shift toward last-mile voter outreach in urban India.
The spending breakdown: BJP’s digital dominance
The ruling Bharatiya Janata Party (BJP) and its allies have emerged as the heavyweights in the digital arena, significantly outspending the opposition Maha Vikas Aghadi (MVA).
• Meta platforms (Facebook & Instagram): The BJP Maharashtra unit accounted for the lion’s share, spending approximately ₹36.15 crore. When including linked pages like “DevGatha” (promoting Deputy CM Devendra Fadnavis) and the official BJP Mumbai page, the total party-linked spend on Meta crossed ₹37.7 crore.
• Google & YouTube: The BJP and its aligned agencies (such as Dreamworth Solutions) spent roughly ₹11.1 crore.
• Opposition outreach: The Shiv Sena (UBT), led by Uddhav Thackeray, utilized a more concentrated approach, spending approximately ₹2.46 crore on Google platforms and maintaining a steady presence on Meta to counter the ruling alliance’s narrative.
Key campaign strategies: AI and video content
Industry experts tracking the 2026 polls note that the nature of political advertising has evolved. This election cycle is characterized by:
• AI-driven micro-targeting: Parties are using sophisticated algorithms to deliver personalized messages to specific demographics—targeting first-time voters in Mumbai, the working class in Thane, and the agrarian-urban mix in Nashik and Pune.
• Short-form video surge: A significant portion of the budget is being funneled into Instagram Reels and YouTube Shorts. “Video delivers higher recall in dense urban markets,” noted a digital consultant.
• Third-party surrogates: A notable trend this year is the rise of “shadow spending,” where third-party agencies and “community” pages run ads that align with party ideologies without using official party handles.
Election logistics: A state at a standstill
The scale of the election has prompted unprecedented administrative measures. Beyond the digital noise, here is how the state is preparing for the 15 January vote:
• Public and market holiday: The Maharashtra government has declared a public holiday tomorrow. In a rare move, the BSE and NSE will also remain shut for trading to allow employees to exercise their franchise.
• Dry days & security: A four-day “dry spell” (liquor ban) is in effect across all 29 corporation areas until the counting concludes on 16 January.
• Voting infrastructure: Over 3.48 crore voters are eligible to vote. In Mumbai alone, 10,231 booths have been set up for its 1.03 crore voters.
Why these polls matter
These elections are being held after a significant delay of nearly 34 months, during which most corporations were run by state-appointed administrators. For the Mahayuti (BJP, Shinde Sena, Ajit Pawar NCP) and the MVA (Congress, UBT Sena, Sharad Pawar NCP), these results are seen as a litmus test for the state leadership ahead of future legislative battles.
With the digital campaign window now officially closed, the fate of the 2,869 seats across Maharashtra now rests with the voters, as counting begins early morning on 16 January.
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.
