Brands
Grofers forays into FMCG segment; targets Rs 2500 cr by FY 2019
MUMBAI: With an aim to disrupt the online retail market space, Grofers, the low price online supermarket, has announced its foray into the FMCG segment with the launch of seven new brands under two categories – Budget and Popular G-Brands.
With this, Grofers’ private labels expands to 250 food and non-food products for its consumers. Grofers aims to drive the next wave of growth for e-commerce sector by bringing the next 100 million customers to its platform. The brand is bullish on growth with a revenue target of Rs 2500 crore and roll out of 500+ SKUs for FY 2019.
The Popular G-Brands category offers premium quality products under brands including G Mother’s Choice, G Happy Day and G Happy Home. Labelled under the Budget category, the brands include HaveMore and SaveMore to cater to price sensitive consumers by offering entry level quality products.
The G Happy Day and HaveMore brands include an array of food products like tea, fruit jam, muesli, tomato ketchup, corn flakes, rose shahi sharbat , etc., whereas the G Happy Home and SaveMore brands address household needs with products in the categories of detergents, household care, oral care, tissues and disposables, kitchen tools and accessories, furniture and storage and many more.
G Mother’s Choice is the flagship brand of the e-grocer that enlists a wide range of quality staples at the lowest price in the market. All the products under both G-Brands and Budget category are an assortment of great best quality offerings which will further enhance consumers’ savings in their everyday purchases. Grofers’ range of private label is priced approximately five per cent to 50 per cent lower than the market price for popular brands in these categories.
Grofers co-founder and CEO Albinder Dhindsa says, “Our foray into the FMCG segment uniquely differentiates and positions us in the e-grocery business. This vertical expansion is key to drive our next phase of growth in India. Our focus is to service what we call the ‘Real Bharat’ – the two wheeler families of India who are yet to experience the world of e-commerce and our target is to bring the next 100 million new customers to e-commerce industry through our platform.”
Grofers founder Saurabh Kumar adds, “Grofers’ market disruption game plan includes providing great quality products at lowest possible prices. Towards this, our private labels under the two new categories allow us to offer high quality products at various price points to serve varied needs of our customers. We are taking our promise of Every Day Low Prices (EDLP), which remains unchallenged, to a whole new level through this move. The expansion marks yet another milestone in our success story as a home-grown brand and will significantly contribute towards shaping the overall e-commerce trajectory in the country.”
Underlining its commitment to great consumer experience, the brand has significantly channeled its investment into building capabilities in the domains of product quality control, data sciences, inventory forecasting, consumer behaviour, manpower training and building supply chain efficiencies apart from building infrastructure to provide necessary support for inventory stock. Grofers successfully closed FY 2018 with Rs 950 crore of sales and is targeting for a stronger growth trajectory in 2019, with a 50 per cent contribution from its private brands.
Delivering on its promise of everyday low prices, Grofers offers unique properties including Smart Bachat Club and Housefull Sale which have received tremendous response from consumers. Smart Bachat Club is India’s largest grocery loyalty program with a member base of over 2,00,000 customers, achieved within five months of introduction.
Brands
Jio Financial Services posts Rs 1,560 crore FY26 profit
Revenue rises to Rs 3,513 crore as investments and lending scale up.
MUMBAI: If money makes the world go round, Jio Financial Services Limited is quietly spinning a much bigger wheel. The Reliance-backed financial arm reported a consolidated net profit of Rs 1,560.9 crore for FY26, slightly lower than Rs 1,612.6 crore in FY25, even as revenue growth gathered pace.
Total revenue from operations rose sharply to Rs 3,513.3 crore in FY26 from Rs 2,042.9 crore a year earlier, driven largely by a surge in interest income, which more than doubled to Rs 1,901.9 crore from Rs 852.5 crore. Fee and commission income also saw a significant jump to Rs 597 crore, compared to Rs 155.2 crore in FY25, reflecting expanding financial services activity.
For the March quarter, profit stood at Rs 272.2 crore, broadly flat compared to Rs 269 crore in the same period last year. Quarterly revenue from operations climbed to Rs 1,018.5 crore, up from Rs 493.2 crore year-on-year, signalling steady momentum in core income streams.
Expenses, however, moved in tandem with growth. Total costs nearly quadrupled to Rs 1,982.9 crore in FY26 from Rs 524.8 crore in FY25, with finance costs alone rising to Rs 745.1 crore from just Rs 7.7 crore a year earlier, reflecting increased borrowing and scale of operations. Employee expenses also grew to Rs 387.3 crore, while other expenses expanded to Rs 755 crore.
Profit before tax stood at Rs 1,911.7 crore for the year, slightly below Rs 1,946.9 crore in FY25. After accounting for a total tax outgo of Rs 350.8 crore, the company reported its final net profit figure.
Beyond the income statement, the balance sheet tells a story of rapid expansion. Total assets surged to Rs 1,63,497 crore as of March 31, 2026, up from Rs 1,33,510 crore a year earlier. Investments alone stood at Rs 1,33,088.7 crore, underscoring the company’s strong focus on treasury and financial asset growth.
However, the year also saw sharp volatility in other comprehensive income, which swung to a loss of Rs 16,028.3 crore, largely driven by fair value changes in equity instruments. This dragged total comprehensive income for FY26 to a negative Rs 15,756.1 crore, compared to a positive Rs 14,870 crore in FY25.
On the capital front, the company’s paid-up equity share capital remained steady at Rs 6,353.1 crore, with other equity rising to Rs 1,27,500.5 crore.
The numbers reflect a business in transition scaling rapidly across lending, investments and fee-based services, but also navigating the volatility that comes with mark-to-market movements in financial assets. In other words, while the top line is accelerating, the fine print still carries a few swings.
