Brands
On National Croissant Day, know how Indians are turning a French classic into a spicy snack
MUMBAI & BENGALURU: The croissant is shedding its café-only reputation in India—and picking up spice along the way. Fresh data from ITC Sunfeast Baked Creations and Swiggy shows the flaky French staple rapidly becoming an all-day Indian snack, with orders surging nearly 20 per cent year-on-year and more than 1.5 million croissants ordered across major metros in the past year alone.
Nearly one in three croissants ordered in India’s big cities now comes from ITC Sunfeast Baked Creations, underlining how quickly the category is scaling. To mark National Croissant Day on January 30, the brand has partnered with Swiggy to launch CroissantVerse, a curated discovery experience offering 18 sweet and savoury variants, available through Swiggy’s health-focused EatRight category.
The biggest shift is not just volume, but behaviour. Croissants are no longer waiting for brunch. They are showing up at chai breaks, post-work snack runs and midnight hunger pangs, competing directly with burgers, wraps and puffs in the same hunger window—just flakier.
Indian preferences are also rewriting the flavour rulebook. While croissants globally skew sweet, 56 per cent of croissant orders in India are savoury. In Mumbai and Pune, savoury demand crosses 60 per cent, driven by fillings such as chicken, egg and cheese, mushrooms and sandwich-style combinations.
Formats are evolving fast. ITC Sunfeast Baked Creations has pushed beyond the classic crescent with pinwheel croissants inspired by thecha-style peanut, chilli and garlic flavours, and CroPies—croissant shells filled with hearty savoury fillings. Options range from paneer bhurji and chicken béchamel to chicken tikka and mutton keema, blurring the line between snack and meal.
“Croissants are no longer an occasional café indulgence,” said Rohit Bhalla, business head – food tech at ITC Limited. “Our goal is to make them a regular, everyday choice for Indian households. Formats like CroPies and pinwheel croissants have been instant hits, reflecting the growing preference for snack-meal hybrids, while classics like the French butter croissant, frangipane almond croissant and dark fantasy chocolate loaded croissant continue to see strong repeat demand.”
Geographically, croissant culture is clustering in metros. Bengaluru, Chennai, Hyderabad, Mumbai and Pune are driving demand, with ITC Sunfeast Baked Creations emerging as the most preferred croissant brand in Bengaluru, Chennai and Hyderabad, while steadily scaling up in Mumbai and Pune. Among classics, almond croissants remain the top choice, with ITC Sunfeast’s frangipane almond croissant ranking among the most ordered across cities.
Swiggy’s data shows croissants now cutting across eating moments. “What’s interesting is how croissants are being chosen across very different occasions—from evening snack cravings to late-night dessert runs,” said Sidharth Bhakoo, chief business officer at Swiggy Food Marketplace. “Consumers are clearly treating them as full-fledged snack options rather than café accompaniments.”
Once a brunch indulgence, the croissant is now India’s anytime bite—and it’s not just butter that’s driving demand, but spice, speed and scale.
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.
