MAM
WPP’s India country manager CVL Srinivas to retire after 20-year growth run
NEW DELHI: WPP announced today that its India country manager, CVL Srinivas, will retire at the end of March 2026, drawing the curtain on a 36-year career that turned India into one of the advertising group’s four biggest markets by revenue.
Known across the industry as Srini, he has led WPP India since 2017, overseeing a decade of rapid expansion in media, data, technology and creative services. India now employs more than 11,000 people across agencies and a scaled global delivery centre, making it a key engine for WPP’s worldwide operations.
“Srini is a truly outstanding leader whose vision has been instrumental in transforming India into one of WPP’s most important and dynamic markets globally. He has not only delivered exceptional growth but has also built an incredible culture of collaboration and innovation,” WPP chief executive Cindy Rose said. “From establishing our integrated campuses to scaling our global delivery and tech capabilities, his legacy is a stronger, more unified, and future-ready WPP in India, perfectly positioned to harness our AI advantage for our clients. We are deeply grateful for his immense contributions, and we all wish him the absolute best for the future.”
Under his watch, India vaulted from outside WPP’s top 12 markets to fourth place globally, helped by tightly knit client teams that combine media, creative and specialist skills. Three collaborative campuses in Mumbai, Gurgaon and Chennai became hubs for what WPP calls its creative-tech model, blending data, software and storytelling.
Srinivas said he was proud of the “growth, innovation and shared purpose” built by the team, adding that India would continue to drive WPP’s global agenda long after his departure.
Before taking the India role, he ran GroupM in South Asia and Maxus in Asia-Pacific, and was part of the team that launched Hindustan Unilever’s first media agency of record in 1995. He has also served on the boards of industry bodies including BARC, ABC, MRUC and the IAA.
WPP said a successor will be named in due course, as the group prepares for its next phase in one of its most strategically important markets.
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.
