Brands
Recode Studios files IPO draft, steps into the public market
MUMBAI: Recode Studios Limited, the homegrown beauty and cosmetics brand that caught national attention on Shark Tank India Season 2, has taken a decisive step towards its next chapter. The company has filed its Draft Red Herring Prospectus with SEBI for a proposed initial public offering on the BSE SME Exchange.
The move signals a clear shift from startup momentum to structured scale. Through the proposed IPO, Recode Studios plans to strengthen its working capital and set up a new warehouse facility, aimed at sharpening operations and building a more resilient supply chain.
With beauty and personal care increasingly driven by digital discovery, the brand also intends to step up investments in advertising, promotions and brand-building initiatives. The idea is simple: stay visible, stay relevant and stay ahead in a crowded market.
From a televised pitch to public market ambition, Recode Studios’ journey reflects a steady focus on growth backed by planning rather than hype. The IPO filing underlines the company’s emphasis on governance, transparency and long-term value creation as it prepares for life as a listed entity.
Commenting on the development, Recode Studios Limited chief financial officer Narinder Singh, said the filing marks a defining milestone for the company. He noted that the proposed IPO would help streamline operations, improve scalability and reinforce the company’s commitment to financial discipline and sustainable growth.
As it looks ahead, Recode Studios has acknowledged the role of its advisors, partners, team members and loyal customers in shaping its progress so far.
With the beauty and personal care market continuing to grow at pace in India, Recode Studios is now setting its sights on a future that blends creativity with corporate credibility, and ambition with accountability.
Brands
Jubilant Foodworks Q3 revenue up 6 per cent year on year
Standalone revenue reaches Rs 18,015 million in December quarter
NOIDA: Jubilant FoodWorks Limited reported a steady rise in revenue for the December 2025 quarter, supported by its India operations, even as overseas exits and impairment charges weighed on consolidated performance.
Standalone revenue from operations rose to Rs 18,015.09 million for the quarter ended December 31, up from Rs 16,986.67 million in the September quarter and Rs 16,110.59 million a year earlier. For the nine months to December, revenue climbed to Rs 52,017.57 million, compared with Rs 45,174.94 million in the corresponding period last year.
Other income for the quarter stood at Rs 89.25 million, marginally higher than Rs 73.14 million in the preceding quarter. The Jubilant Foodworks Employees Welfare Trust, which is consolidated into the results, reported a net loss of Rs 66.97 million for the quarter and Rs 86.37 million for the nine-month period.
During the previous quarter, the company exited its Russian subsidiary, Pizza Restaurants LLC, derecognising net liabilities that had been classified as held for sale. In India, Jubilant Foodworks recorded an impairment charge of Rs 44.97 million on its investment in Hashtag Loyalty Private Limited, following the discontinuation of operations.
In a regulatory filing, the company said it continues to monitor the impact of the new labour codes and has provided incremental amounts as exceptional items in the consolidated results.
Chairman Shyam S Bhartia said the focus remains on strengthening core brands and navigating a volatile operating environment. Jubilant FoodWorks operates brands including Domino’s, Popeyes, Dunkin’ and Hong’s Kitchen in India.
