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Infibeam Avenues names Vishwas Patel MD and CEO in leadership revamp
GANDHINAGAR: Infibeam Avenues has announced the planned elevation of Vishwas Patel, its joint managing director, to managing director and chief executive, effective December 11, subject to statutory approvals. Vishal Mehta will remain chairman and managing director, steering the company’s long-term AI-first strategy.
The reshuffle follows a multi-year overhaul under Mr Mehta, who has streamlined the business from a sprawling multi-platform model to two focused engines: digital payments under CCAvenue and AI-driven risk and infrastructure solutions under Phronetic.AI. The pivot has improved efficiency, strengthened market share and lifted revenue growth.
As MD and CEO, Patel will take charge of daily operations and execution, reporting to the board. Mehta said the company was entering a phase of “accelerated AI-led growth” and described Patel’s experience in payments and merchant relations as central to scaling its platforms across India and abroad.
Mehta, who also leads the strategic AI vision at Infibeam Avenues and heads Rediff.com India, said the payments ecosystem was being reshaped “at every layer” by AI, calling for faster execution and deeper merchant value.
The board has also appointed IIMA professor Neharika Vohra as an independent director for a five-year term from December 11. A leadership scholar with more than 70 published papers and extensive experience in entrepreneurship through IIMA Ventures, Vohra brings expertise in governance, management and institution building to the board.
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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.
