MAM
OPG Mobility appoints Maharana Ray as president & chief growth officer
MUMBAI: OPG Mobility (formerly Okaya EV), announced the appointment of Maharana Ray as president & Chief Growth Officer (CGO). In his new role, he will lead the company’s EV business including the Ferrato and OTTOOPG brands while driving expansion, market development, brand building, and strategic business alliances within the Indian electric mobility value chain.
A distinguished leader with over two decades in the auto, electric mobility, and energy sectors, Maharana is known for his excellence in driving business expansion, forging strategic alliances, and growing operations. He most recently served as vice president at Chetak Electric (Bajaj Auto), spearheading the network development, strategic planning, and customer experience initiatives, successfully expanding the brand’s pan-India footprint.
Maharana’s career spans both international and domestic markets, with hands-on experience in 16 countries. His expertise covers Sales, Service, Spares, Channel Management, and HR, making him a well-rounded professional equipped to deliver holistic business growth and operational excellence. He is an alumnus of Symbiosis Institute of Business Management, Pune, and has been a member of the Achiever’s Club at Symbiosis. His strategic leadership skills have been further complemented by training at IIM Ahmedabad.
Commenting on the appointment, Anshul Gupta, co-founder, OPG Mobility said, “We are delighted to welcome Maharana Ray to our leadership team. As OPG Mobility enters into its next phase of expansion, his leadership and extensive experience in the mobility and energy segments will be critical to accelerating our business. His vision and emphasis on execution fit well with our overall strategy for the electric vehicle businesses.”
Talking about his new role at OPG Mobility, Maharana Ray expressed, “As one of India’s fastest growing electric mobility solution providers, I am excited to join OPG Mobility and Power Pvt. Ltd. The company’s mission to develop inclusive, reliable, and sustainable electric mobility solutions that truly shape the future of transportation deeply resonates with me, and I look forward to collaborating with the leadership to explore new avenues for growth, scale operations, and strengthen our presence across India and international markets. We will strive together to build a future where OPG Mobility is a trusted partner in India’s and the world’s EV journey.”
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.
