Brands
HDFC Bank storms to No 1 as India’s brand elite crest $523.5bn valuation
MUMBAI: India’s brand engine has slipped into overdrive. The 2025 Kantar BrandZ Top 100 — the ranking’s first full-century roll-out — reveals a market that’s bigger, bolder and far more complex than the neat growth story the GDP lines suggest. Together, the country’s 100 most valuable brands are worth a muscular $523.5bn, or 13 per cent of national GDP — the highest share of any BrandZ-ranked economy.
HDFC Bank has muscled its way to the summit, unseating TCS with a brand value of $44.99bn, up 18 per cent. Its transformation since the HDFC Ltd. merger — from buttoned-down lender to brand-savvy digital powerhouse — has given it swagger that India’s financial sector has rarely shown. Vigil Aunty, digital auto loans in 30 minutes, and a relentless push for ‘Meaningful Difference’ have paid off: HDFC’s brand value has soared 98 per cent since 2019.
But the real rocket booster this year is Zomato, which sizzles as India’s top riser with a 69 per cent leap in brand value. Once just a food delivery app, it is now a cultural staple, a lifestyle layer, and a behavioural default for India’s urban under-40s. Zomato jumps 10 places to No. 21 — a rise fuelled by its habit of turning everyday chaos into brand-building gold.
Further down the table, India’s experience economy is flexing. Taj, IndiGo, MakeMyTrip, Mahindra, and Bajaj Auto all notch robust climbs, signalling a consumer base that may be trading down in groceries but happily trading up in travel, mobility, and leisure. Cement players — UltraTech, Ambuja, JK Cement, Bangur — also roar ahead as India’s infrastructure build-out hits its heaviest stride in decades.
The list welcomes 18 newcomers — from Zepto to Zudio, Pine Labs to Meesho — and eight re-entrants. Quick commerce, fintech, real estate and premium FMCG are no longer disruptors; they’re establishment.
Yet beneath the glitter lies a harder truth: Indian brands are growing slower than their global peers. While global BrandZ leaders surged 29 per cent, India’s top players inched ahead by just 6 per cent. In a $4.2 trillion economy growing faster than almost any major market, that lag rings alarm bells.
The culprit? A persistent weakness on brand Difference. Too many Indian brands jostle in the middle, competing on volume, distribution and discounts — not on distinctive ideas or premium power. Kantar’s long-running analyses show that brands moving the needle on both Meaningfulness and Difference deliver dramatically higher shareholder returns. But few Indian names are taking big creative or product bets.
The report urges a reset: Stop copying global playbooks. Start building “Make for India” brands. Hyperlocal nuance, not broad brushstrokes. Innovation anchored in Indian behaviours, not borrowed from Shanghai or San Francisco. More risk, more creativity, more cultural fluency.
With a swelling middle class, a tech-savvy population, a booming rural opportunity, and one of the most brand-conscious youth cohorts on the planet, India is primed for breakout stories. But the window won’t stay open forever.
For now, India’s Top 100 look impressive. But the global stage is getting louder, fiercer, and faster — and India’s best-known brands must decide whether they want to stay comfortable at home or step out and swing harder abroad.
For a country that prides itself on speed, this is the moment to hit the throttle. The race is wide open — and the finish line is moving further away.
Brands
Bajaj Consumer Care FY26 profit rises to Rs 193.7 crore
Revenue climbs to Rs 1,092 crore as profit grows 49 per cent YoY
MUMBAI: Hair today, growth tomorrow Bajaj Consumer Care Limited seems to have found its shine again, posting a sharp jump in profitability even as it doubled down on brand spends and expansion. The company reported a net profit of Rs 193.7 crore for FY26, marking a strong 49 per cent rise from Rs 130.1 crore in FY25. Revenue from operations also grew to Rs 1,092.2 crore, up from Rs 942.8 crore a year earlier, signalling steady demand momentum across its portfolio.
For the March quarter, profit stood at Rs 64.1 crore, compared to Rs 31.5 crore in the corresponding period last year, while revenue rose to Rs 308.3 crore from Rs 243.5 crore.
The performance came despite a notable increase in spending. Advertising and sales promotion expenses climbed to Rs 168.3 crore in FY26, up from Rs 137.8 crore in FY25, reflecting continued investment in brand building. Other expenses also rose to Rs 151.3 crore from Rs 134.2 crore, indicating a broader push towards growth.
Operating efficiency, however, held firm. Profit before tax increased to Rs 234.8 crore in FY26 from Rs 157.7 crore a year earlier, supported by disciplined cost management across materials and inventory.
On the balance sheet, the company’s total assets expanded to Rs 959.1 crore as of March 31, 2026, compared to Rs 931.9 crore a year earlier. Other equity rose to Rs 780.3 crore, reinforcing a stronger financial base.
Cash flow from operations saw a significant uptick, reaching Rs 196.9 crore in FY26, nearly three times the Rs 67.9 crore recorded in FY25, highlighting improved working capital management.
However, the year also saw aggressive capital allocation. The company spent Rs 190.2 crore on share buybacks, contributing to a net cash outflow of Rs 196.5 crore from financing activities. Cash and cash equivalents stood at Rs 6.8 crore at the end of the year, down from Rs 25.6 crore.
Even as investments in subsidiaries and assets continued, the numbers suggest a company balancing growth ambitions with shareholder returns keeping one eye on expansion and the other on efficiency.
With margins improving and revenue steadily climbing, Bajaj Consumer Care appears to be combing through the competition with renewed confidence.
