MAM
Kiran Anthony, Mahesh Gharat step down as Ogilvy South CCOs
Mumbai: Ogilvy India (South) has announced changes in its creative leadership with chief creative officers (CCOs) Kiran Anthony and Mahesh Gharat having put in their papers and deciding to move on from the agency. Gharat will be moving into a full-time direction and Anthony will continue to lead Vi in a consultant’s role while he also pursues directing, said the agency in a statement.
The agency also announced its new creative leadership in Bengaluru, and across the South markets. Puneet Kapoor will join Ogilvy in March 2022 as Ogilvy India (South) chief creative officer, and will work with Ogilvy India’s chief creative officers and the president of Ogilvy India (South). Prior to this, Kapoor was with Lowe Bengaluru, where he was regional creative officer.
“Kiran Anthony and Mahesh Gharat have led some of the most memorable campaigns this industry has seen. They have won critical pitches, built terrific teams, and put Ogilvy on the world stage more than once,” said Ogilvy India chief creative officers Kainaz Karmakar, Harshad Rajadhyaksha and Sukesh Nayak about the creative duo. “Having contributed a great deal to Ogilvy, they now want to go after their dream of becoming film directors. This means we still get to keep them close, just in a different role.”
Kapoor’s advertising career spans 24 years across Lowe, Ogilvy, McCann, BBH and as a founder of Eleven Brandworks. His most celebrated recent work includes campaigns for Unacademy, Swiggy, Fastrack, Titan, Myntra, Udaan, Xiaomi, Redbus, Flipkart, Cleartrip, Britannia, ITC Foods and TVS.
“I salute and thank Mahesh Gharat and Kiran Anthony for their stellar contribution to Ogilvy for a very long time,” commented Ogilvy chairman global creative and executive chairman India Piyush Pandey. “It’s never easy to see your bright stars leave. However, when they step out to actualise their dreams, you can only cheerlead and wish them fulfilment in what they have chosen as their next journey and destination.”
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.
