MAM
Haier India president Eric Braganza set to retire after 12-year stint
Mumbai: Home appliances and consumer electronics company Haier on Thursday announced that Eric Braganza will retire as president of India operations, effective 1 January. According to a statement, Braganza will continue to serve as a consultant with the brand along with his role as president of CEAMA (Consumer Electronics and Appliances Manufacturers Association).
The brand further announced that its senior vice president of sales and marketing Satish NS will be taking over as president of the company from 1 January 2022.
Under Braganza’s leadership, Haier India continued to record phenomenal YoY growth over the last few years to become one of the most prominent brands in the home appliances and consumer electronics industry. His management prowess proved instrumental during Haier’s expansion in India, playing a pivotal role in establishing partnerships with some of the largest national and regional retailers in the country, said the company in a statement. “Amongst his many contributions to the organisation was creating a strong and stable team of core members and promoting the spirit of micro-entrepreneurship in them to drive success for the brand in India. From defining the brand by breaking the category clutter in the market to introducing meaningful innovations in Haier’s product range specifically designed for Indian consumers, Braganza has been behind the brand’s success story in the country,” it added.
Braganza is a veteran in the consumer durables industry who brings along an inspiring professional experience of over 35 years and has been spearheading the organisation since September 2009. In his role, Braganza has put the building blocks, talent, and strategies in place at Haier India that serve as the foundation for the company’s continued growth for the past 12 years in the consumer durables market in India.
“Haier is one of the most exciting, innovative and mission-driven companies, and I am honored to have led the brand in India in its growth journey,” stated Eric Braganza. “Today, the brand has made a significant impact in the market with its commitment to serve the needs of Indian customers, guided by its core philosophy of ‘Inspired Living.’ The last few years have been critical in the growth of the brand as we focused aggressively on not just expanding Haier’s market presence, but also in strengthening our customer service and improving our product line-up by increasing our investments to make Haier’s local manufacturing more robust. It’s very fulfilling to witness the extraordinary success that the brand has achieved since I joined in September 2009 and I feel confident as the brand embarks on a new chapter of innovation-led growth.”
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.
