Brands
Funskool plays it smart, crosses Rs 300 crore turnover with 20 per cent export boost and desi brand wins
MUMBAI: India’s homegrown toy titan Funskool just levelled up in a big way. For FY 2024–25, the company clocked a turnover exceeding Rs 300 crore—powered by a potent mix of desi hits and global play.
Recording over 20 per cent year-on-year growth, the brand credited its performance to a sharpened export strategy and deepening alliances with global toy majors. Exports alone surged by nearly 30 per cent, solidifying Funskool’s role as a serious player in the global toy trade.
“We are moving in the right direction. With an impressive growth trajectory, Funskool continues to play a vital role in advancing the ‘Make in India’ initiative,” said Funskool India Ltd CEO K.A. Shabir. “We are focused on deepening our partnerships with global toy brands and further positioning ourselves as a quality toy manufacturer in the international supply chain.”
Currently, Funskool contributes close to 20 per cent of India’s total toy exports. Its outbound shipments to the United States now account for around 40 per cent of that volume, giving the brand a strong foothold in one of the world’s largest toy markets.
The company’s ambitions don’t end there. For the ongoing fiscal, Funskool has set its sights on USD 40–45 million in revenue, driven by capacity expansions and the global tilt toward Indian manufacturing. The firm recently doubled output at its Ranipet facility and is now planning further upgrades at both Ranipet and Goa plants.
On the home front, the company has steadily built out its portfolio of Indian brands—including Giggles, Fundough, Handycrafts, Play&Learn, and its growing lineup of board and card games—cementing its reputation as a market leader.
With exports scaling and domestic love holding firm, Funskool’s FY25 performance proves that playtime pays off.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
