MAM
Madras high court orders unblocking of Tamil magazine website
MUMBAI: Some are labeling it a victory of sorts for Anand Vikatan managing director B. Srinivasan – albeit a conditional one at that. The Madras high court has ordered the Indian central government to restore access to the website of Tamil weekly magazine Ananda Vikatan, provided a controversial cartoon is removed from the site.
Justice D Bharatha Chakravarthy of the Madras high court issued the interim order on Thursday in response to a petition filed by the magazine, whose website (www.vikatan.com) was blocked by authorities in mid-February.
The cartoon at the centre of the dispute depicted Indian prime minister Narendra Modi and US President Donald Trump, which the government claimed was “detrimental to the sovereignty and integrity of India and its friendly relations with foreign states.”
In his ruling, Justice Chakravarthy reasoned that since the caricature appeared to be the only objectionable content, the remainder of the magazine’s website should remain accessible to subscribers.
“The block of the website shall be lifted without waiting for a certified copy of the Court’s order,” the judge directed, after ordering Ananda Vikatan to email confirmation to the government that it had removed the contentious material.
The magazine argued in court that the cartoon constituted legitimate political satire related to the mistreatment of Indian deportees from the US. Its legal team, led by senior advocate Vijay Narayan, contended that blocking the entire website was “unjustified, disproportionate and excessive” and resulted in the “suppression of critical journalism.”
Government counsel defended the blocking action under Section 69A of the Information Technology Act, arguing it represented a reasonable restriction on fundamental rights. The court granted the government’s request for two weeks to file a formal reply.
The judge noted that the court must ultimately determine whether the caricature falls under protected artistic and journalistic freedom or whether it is appropriately restricted under the IT Act.
The case will be heard next on 21 March.
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.
