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Parmi Doshi appointed as principal at Inflexor Ventures
MUMBAI: Inflexor Ventures has announced the appointment of Parmi Doshi as principal, further strengthening its leadership team at the Mumbai-based venture capital firm. Doshi brings over six years of experience in finance and investments, having previously served as associate vice-president at the company and gaining significant expertise during her tenure at PwC India.
Expressing her enthusiasm for the new role, Doshi stated, “I’m excited to step into this new position at Inflexor Ventures. The firm is committed to fostering innovation and supporting early-stage companies, and I look forward to contributing to its growth and success.”
Inflexor Ventures is known for its sector-agnostic approach, investing in startups across a variety of fields including health-tech, fintech, consumer-tech, clean-tech, edu-tech, deep-tech, and agri-tech. The firm focuses on companies that leverage technological innovation and intellectual property, ensuring a robust portfolio that drives value in emerging markets.
Before joining Inflexor, Doshi honed her skills at PwC India, where she worked for over six years, advancing to the position of assistant manager. Her prior experience also includes a significant role at Borkar & Muzumdar as an audit executive, which laid the groundwork for her expertise in finance.
Doshi’s appointment comes at a pivotal time for Inflexor Ventures as it continues to identify and support startups at the seed to Series A+ stages. With her extensive background and commitment to driving innovation, Parmi Doshi is poised to play a crucial role in shaping the future of investments at Inflexor Ventures.
Brands
Kwality Wall’s reports standalone losses following strategic HUL demerger
Ice cream major faces Rs 64 crore Ebitda loss amid commodity inflation and muted Q3 sales
MUMBAI: Kwality Wall’s (India) Limited (KWIL) has released its first set of financial results as a standalone entity, revealing a challenging start to its independent journey. Following its successful demerger from Hindustan Unilever Limited (HUL) on 1st December 2025 and its subsequent listing on 16th February 2026, the company is navigating a transition period marked by structural changes and high input costs.
For the quarter ended 31st December 2025, the company reported revenue of Rs 222 crores. Despite the revenue base, the bottom line was impacted by several factors, resulting in an Ebitda loss of Rs 64.2 crores. When calculated on a Pre-IND AS 116 basis, the Ebitda loss stood at Rs 83.8 crores.
Organic Sales Growth (OSG) declined by 6.5 per cent year-on-year during the quarter. Volume growth, however, saw a marginal increase of 1.2 per cent. The company reported a gross margin of 41.5 per cent. Additionally, exceptional expenses amounting to Rs 94 crores were recorded, primarily linked to non-recurring costs during the transition phase.
Performance across portfolios and channels was mixed. Within the impulse portfolio, brands such as Magnum and Cornetto recorded mid-single digit volume growth, indicating steady demand in on-the-go consumption. However, the in-home portfolio, which includes take-home packs, experienced muted consumption. The company is planning a relaunch of this category with improved offerings ahead of the 2026 season.
Quick commerce (Q-Com) continued to emerge as a strong growth driver, delivering robust double-digit growth during the quarter. Meanwhile, the company also expanded its physical distribution network by increasing the number of company-owned cabinets across markets.
Margin pressure during the quarter was driven by a combination of one-off factors and broader cost inflation. Gross margins were impacted by around 600 basis points due to trade investments made for stock liquidation. Additionally, cocoa price inflation contributed to another 400 basis points of pressure on margins.
Deputy managing director Chitrank Goel attributed the muted performance partly to prolonged monsoons and transitional challenges linked to the GST framework. Operating expenses also increased as the company invested in establishing its standalone supply chain, operational systems and corporate infrastructure following the demerger.
Looking ahead, the management remains focused on a volume-driven growth strategy. To restore profitability, the company has initiated a cost productivity programme aimed at reducing non-consumer-facing costs. It is also working on building regional manufacturing networks to optimise logistics expenses and improve operational efficiency.
The commodity outlook for the near term remains mixed. Dairy prices are expected to remain firm due to tight supply conditions and rising fodder costs. Sugar prices may also move higher following increases in the Minimum Selling Price (MSP). While cocoa prices have moderated recently, currency depreciation has offset some of the potential cost relief for the company.
