MAM
Mythik ropes in Jio, MX Player & Walmart veterans to power product-tech vision
MUMBAI: The global entertainment startup, on a mission to be the “Disney from the East” has unveiled a heavyweight product and technology leadership team with three marquee hires. Sachin Thapliyal joins as founding member & chief product officer, Kamalmeet Singh as chief technology officer, and Nitin Pakhare as head of product design.
Between them, the trio boasts over 60 years of experience across giants like Jiosaavn, MX Player, Amazon, Walmart, Microsoft, Payu, and Paytm, shaping platforms that entertained and engaged millions. From building music and video apps with 100 plus million users to pioneering GenAI architecture, their combined resumes read like a masterclass in consumer-tech at scale.
Thapliyal, who once scaled Jiosaavn past 100 million MAUs and helped shape MX Player into a 175 million-user super-app, will steer product strategy. Singh, an ex-Walmart principal architect and author of large-scale tech design books, brings the muscle of cloud, GenAI, and enterprise-grade architecture. Meanwhile, Pakhare, who has designed experiences for Jiocinema, MX Player, and Yahoo Labs, will focus on ensuring Mythik’s stories look as good as they feel.
Founder & CEO Jason Kothari is betting on the trio’s mix of creativity and technology to help Mythik deliver its bold promise: reimagining Eastern mythology, history, and folktales for global audiences in compelling, tech-driven ways.
As Kothari put it, “Their experience in building entertainment platforms at scale, architecting global solutions, and creating engaging user experiences aligns perfectly with our mission.”
If Mythik’s new chapter reads anything like its hiring, the East’s tales may just get a blockbuster retelling for the world stage.
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.
