Brands
Saugata Basu appointed interim CEO of Castrol India
MUMBAI: Castrol India has tapped one of its own to steady the ship and steer ahead. Saugata Basu has been appointed interim chief executive officer with effect from January 1, 2026, while continuing in his current role as wholetime director and head of B2C sales. With the move, Basu has been redesignated as wholetime director and interim CEO.
For Castrol, this is less a leap of faith and more a well practised hand on the steering wheel. Basu is a Castrol lifer in the truest sense, having spent over two decades across sales, marketing, strategy and leadership roles in India and overseas.
Since joining the board as wholetime director in April 2022, Basu has played a central role in driving Castrol India’s consumer business. Before that, he served as vice president B2C, building momentum across categories and channels in an increasingly competitive lubricants market.
His leadership journey stretches well beyond Indian shores. As managing director of PT Castrol Indonesia, Basu led the business for more than three years, followed by an earlier stint as country sales director at Castrol Philippines, where he carried full P&L responsibility and managed corporate governance for the bp group locally.
Basu’s career has also included global exposure in London as a global marketing project manager, where he worked on premium brand strategy and high profile international partnerships. Back home, he has led national sales teams, headed marketing for commercial vehicles, and helped Castrol secure leadership positions in both volume and value.
From management trainee in 1999 to the corner office in 2026, Basu’s ascent reads like a long, well planned drive rather than a sudden sprint. As Castrol India enters its next phase, the company has chosen continuity, experience and a leader who knows every bend in the road.
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.
