MAM
Srikanth Raman joins Starcom as media director
MUMBAI: It has been a brief tenure to say the least for Srikant Raman at Triton Communications. Raman joins Starcom Worldwide’s Mumbai office tomorrow as media director.
Raman, who was with Triton for barely two months as media director, was one among quite a few departures from Carat after CEO Meenakshi Madhvani left the company.
One of the key accounts that Raman is expected to look after at Starcom is that of the public sector giant Indian Oil Corporation (IOC). It was in June that Leo Burnett India bagged the integrated “full service” advertising account of IOC. Leo Burnett handles the creative and client servicing functions whereas Starcom manages the centralised media planning and buying. Raman has some experience of working with IOC as it was an account he looked after when he was at Mudra.
Talking about the move Raman says: “Triton is a great place but the short stint is unfortunate. I suppose the timing was slightly wrong and other factors such as Starcom bagging the account of Indian Oil Corporation were responsible for my decision to shift. I am looking forward to joining Starcom as the media agency is doing some great things. Working with the young and dynamic team at Starcom is bound to be a great experience.”
So the hirings at Starcom continue, with more announcements expected.
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.
