MAM
HiveMinds welcomes Pradeep Saluja as chief operating officer
Mumbai: HiveMinds, a digital marketing company and part of the Madison Group, is delighted to announce the appointment of Pradeep Saluja as chief operating officer. Pradeep is a seasoned professional with over two decades of experience leading business strategy, operations management, and consulting across multiple industries. As the COO, he will oversee the P&L and growth of the business and be responsible for the organisation’s overall operations.
Pradeep has held senior positions in several leading firms, from one of the founding members of the India business at Encore Capital Group to leading firms where he has delivered sustainable growth for clients worldwide. Prior to joining HiveMinds, he served as vice president at Sprinklr, where he successfully led customer success for key accounts globally. Before this, Pradeep was with Mu-Sigma, managing the P&L of a business unit with a portfolio of Fortune 500 companies. His career began at Caterpillar, where he led West and South East India’s dealer development and customer success teams. He was also part of the management consulting practice at KPMG. Pradeep graduated from the National Institute of Technology Allahabad and is an alumnus of the Indian Institute of Management Bangalore.
HiveMinds COO Pradeep Saluja shared, “HiveMinds has established itself as a leading player in the Digital Marketing space. The leadership’s unwavering focus on delivering value to clients and fostering an employee-centric culture echoed well with my values. I am excited to join HiveMinds and look forward to working closely with our highly energetic and capable teams to deliver sustainable growth and impact to our clients.”
HiveMinds CEO and founder Jyothirmayee JT commented, “We are delighted to welcome Pradeep to HiveMinds. His extensive experience and proven leadership, especially in digital transformation and operations, align perfectly with our vision for the future as we expand and evolve in the digital marketing landscape. His appointment marks a significant milestone in our journey, and I eagerly anticipate the innovative solutions and lasting partnerships that will undoubtedly flourish under his leadership.”
Brands
Kwality Wall’s reports standalone losses following strategic HUL demerger
Ice cream major faces Rs 64 crore Ebitda loss amid commodity inflation and muted Q3 sales
MUMBAI: Kwality Wall’s (India) Limited (KWIL) has released its first set of financial results as a standalone entity, revealing a challenging start to its independent journey. Following its successful demerger from Hindustan Unilever Limited (HUL) on 1st December 2025 and its subsequent listing on 16th February 2026, the company is navigating a transition period marked by structural changes and high input costs.
For the quarter ended 31st December 2025, the company reported revenue of Rs 222 crores. Despite the revenue base, the bottom line was impacted by several factors, resulting in an Ebitda loss of Rs 64.2 crores. When calculated on a Pre-IND AS 116 basis, the Ebitda loss stood at Rs 83.8 crores.
Organic Sales Growth (OSG) declined by 6.5 per cent year-on-year during the quarter. Volume growth, however, saw a marginal increase of 1.2 per cent. The company reported a gross margin of 41.5 per cent. Additionally, exceptional expenses amounting to Rs 94 crores were recorded, primarily linked to non-recurring costs during the transition phase.
Performance across portfolios and channels was mixed. Within the impulse portfolio, brands such as Magnum and Cornetto recorded mid-single digit volume growth, indicating steady demand in on-the-go consumption. However, the in-home portfolio, which includes take-home packs, experienced muted consumption. The company is planning a relaunch of this category with improved offerings ahead of the 2026 season.
Quick commerce (Q-Com) continued to emerge as a strong growth driver, delivering robust double-digit growth during the quarter. Meanwhile, the company also expanded its physical distribution network by increasing the number of company-owned cabinets across markets.
Margin pressure during the quarter was driven by a combination of one-off factors and broader cost inflation. Gross margins were impacted by around 600 basis points due to trade investments made for stock liquidation. Additionally, cocoa price inflation contributed to another 400 basis points of pressure on margins.
Deputy managing director Chitrank Goel attributed the muted performance partly to prolonged monsoons and transitional challenges linked to the GST framework. Operating expenses also increased as the company invested in establishing its standalone supply chain, operational systems and corporate infrastructure following the demerger.
Looking ahead, the management remains focused on a volume-driven growth strategy. To restore profitability, the company has initiated a cost productivity programme aimed at reducing non-consumer-facing costs. It is also working on building regional manufacturing networks to optimise logistics expenses and improve operational efficiency.
The commodity outlook for the near term remains mixed. Dairy prices are expected to remain firm due to tight supply conditions and rising fodder costs. Sugar prices may also move higher following increases in the Minimum Selling Price (MSP). While cocoa prices have moderated recently, currency depreciation has offset some of the potential cost relief for the company.
