MAM
upGrad names Srikanth Iyengar as CEO – workforce development for North America & Europe
Mumbai: Edtech major upGrad announced the appointment of Srikanth Iyengar as the CEO of workforce development, effective September 2022.
Srikanth has over two decades of work experience spanning North America and Europe. In his previous profiles, he led large multinational businesses across diverse industries like tech services and learning/talent upskilling, consistently driving revenue growth and profitability across a portfolio of 2000 global clients across North America, Europe, and APAC regions. In addition, he is a passionate advocate of diversity and inclusion in the workplace and has championed various initiatives around technology-led business transformation, IT solutions, FMCG, and skills & training development for driving strong brand recognition and financial growth at large.
In his current role, Srikanth will build and scale a B2B proposition that upskills experienced technology professionals. With this offering, upGrad is well placed to address a significant and growing technology skills gap in the global marketplace by delivering a world-class proposition. It will also be responsible for leveraging the company’s unparalleled breadth of technology curriculums, significantly large alumni community, and proven expertise in delivering tangible learning outcomes. Srikanth’s efforts will be instrumental in setting up a robust ‘diversity and inclusion’ (DnI) framework to allow businesses to build a future-ready and productive workforce.
upGrad co-founder & MD Mayank Kumar said, “We continue to strengthen our focus on the global enterprise segment in pursuit of predictable, profitable, and sustainable growth. With Srikanth joining our leadership team, we look forward to leveraging his sharp business acumen and multi-cultural intellect to further sharpen our client focus, strengthen our operational excellence and global presence, and also enhance sales leadership for continued growth.”
“The results of the conference board 2022 global CEO survey show that a shortage of skills, especially technology skills, is one of the biggest short and medium-term challenges facing global corporations today,” added Srikanth Iyengar.
“We are confident that upGrad’s workforce development proposition will help our clients address this problem in a scalable and holistic manner. The workforce development approach is critical for businesses to follow as it would not just upskill but also build employees’ resilience to empower organisations and corporates with the tools needed to adapt to the future job markets. Over the last few months, I have developed much respect for upGrad founders and the leadership team as a result of their strategic clarity and relentless, disciplined approach to growth and market leadership. I am really excited to be joining such a high-performing team and to help build a truly special organisation going forward,” he concluded.
With a strong focus on the US, Europe, and select western markets, Srikanth will continue to work from London, United Kingdom. In the most recent development, the global edtech player has closed its sixth key acquisition of CY2022 to further strengthen its enterprise (B2B) business portfolio in India and beyond.
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.
