Brands
Jubilant Foodworks to end Dunkin’ franchise in India
Pizza chain operator will not renew agreement when it expires at end of 2026.
MUMBAI: When the doughnuts stop turning and the coffee goes cold, even a global giant like Dunkin’ can find the Indian market a tough brew to crack. Jubilant Foodworks has decided not to renew its franchise agreement with Dunkin’ when the pact expires on 31 December 2026, according to a Reuters report. The operator, best known for running Domino’s outlets in India, said it would evaluate options for its existing Dunkin’ stores, including a potential sale or transfer of franchise rights, in consultation with the US-based brand.
The decision follows years of underperformance in a market where local tastes and intense competition have made it difficult for international coffee-and-doughnut formats to gain traction. Jubilant, which has increasingly focused on its core pizza business and newer bets like Popeyes, indicated that the exit would not materially affect its financial or operational position.
Dunkin’ accounted for just 0.61 per cent of Jubilant’s revenue in the fiscal year ending 2025 and recorded a loss of approximately Rs 191 million, according to a regulatory filing. The company operated 27 outlets as of December 2025, having shuttered seven stores over the preceding year.
The retreat comes even as Jubilant’s broader business shows signs of momentum. The company reported a 65 per cent rise in quarterly profit for the October to December period, reaching Rs 70.9 crore, up from Rs 42.91 crore a year earlier.
For Jubilant, the exit reflects a sharpening strategic focus. For Dunkin’, it marks another setback in a market that has proven resistant to imported café concepts without significant localisation.
In the cut-throat world of Indian quick-service restaurants, sometimes the sweetest deals are the ones you quietly walk away from leaving more room for the brands that truly rise to the occasion.
Brands
Kotak Mahindra Prime names Suraj Rajappan as managing director and chief executive
The car-finance arm of Kotak Mahindra Bank lines up a new chief and raises its borrowing limit
MUMBAI: Suraj Rajappan is getting the keys. Kotak Mahindra Prime Limited (KMPL), India’s veteran car-finance outfit, has named him managing director and chief executive, effective June 1st, 2026—the same day his predecessor drives off into retirement.
The board approved the appointment at its meeting on March 18th. Rajappan, currently a whole-time director at the company, has spent his entire 24-year career at KMPL, working across functions before rising to the top job. The three-year term remains subject to shareholder approval, and the company confirmed he faces no bar from SEBI or any other authority from holding the post.
He takes over from Shahrukh Todiwala, who superannuates on May 31st after more than three decades with the Kotak Group. Ashok Vaswani, managing director and chief executive of parent Kotak Mahindra Bank, was generous in his send-off. Todiwala, he said, “leaves behind a legacy marked by prudent growth, strong risk discipline, and a focus on customer-centricity.” Of his successor, Vaswani was equally bullish: Rajappan’s “deep industry experience and execution capabilities position KMPL well for its next phase of growth.”
The board also loosened the purse strings, raising the company’s overall outstanding debt limit from Rs 43,000 crore to Rs 48,000 crore. The expanded ceiling covers bank loans, debentures, commercial paper, treasury operations, credit facilities and external commercial borrowings.
KMPL has operated as a car-finance company since 1996, branching into two-wheeler loans in 2018 and loans against property in 2021. With fresh leadership, a bigger borrowing arsenal and an ambitious lender for a parent, Rajappan’s first task is clear: step on the accelerator.
