MAM
P&G India rejigs tech leadership as Nikunj Jain exits, Jai Pankaj steps in
MUMBAI — Procter & Gamble Hygiene and Health Care has announced a top-level shuffle in its technology leadership. Nikunj Jain, the current head of information technology, will step down from his role at the close of business on 30 June 2025, as he prepares to relocate overseas for a new assignment within the P&G group.
Replacing him is Jai Pankaj, a P&G veteran with over 15 years at the company. He will assume the role of head of IT effective 1 September 2025, and relocate back to India.
Pankaj, a B.E. in chemical engineering from NIT Karnataka and an MBA from IIM Lucknow, is currently based in Indonesia. He serves as the chief information officer for P&G’s Indonesian business as well as its e-commerce operations across Asia, the Middle East and Africa. Over the years, he has spearheaded critical IT initiatives, including Martech and data science for P&G India, and managed tech strategy across 15 markets, including Japan and Korea.
The leadership transition was formally communicated to the National Stock Exchange and the Bombay Stock Exchange in accordance with regulatory disclosure norms.
With Jain’s departure and Pankaj’s homecoming, the FMCG major appears to be tightening its digital strategy amid an increasingly tech-driven consumer landscape.
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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.
