MAM
Yusuf Batliwala joins Hero Esports as global partnerships head
MUMBAI: It’s a power move in the world of competitive gaming. Yusuf Batliwala has been appointed senior director for global partnerships at Hero Esports, bringing with him nearly two decades of cross-continental experience across entertainment, media, and gaming. Based out of Singapore, Batliwala officially took charge in June 2025.
Batliwala’s new role will see him leading Hero Esports’ global partnership strategy forging collaborations, securing brand alliances, and expanding the company’s footprint in international markets. With esports exploding into a mainstream spectacle, Hero Esports appears to be stacking its deck with strategic firepower.
Before joining Hero Esports, Batliwala served as senior sponsorship strategist for the Esports World Cup Riyadh 2024, a high-stakes tournament that cemented Saudi Arabia’s place on the global esports map. He was previously associate director for strategic partnerships at Singtel, where he shaped digital entertainment initiatives across Southeast Asia. His diverse experience also includes stints with Bytedance, BBC, and Getty Images.
Having worn multiple hats from content sales and sponsorships to strategic partnerships and business development Batliwala is no stranger to navigating the fast-evolving intersections of media, tech, and culture.
With Hero Esports expanding rapidly across Asia, Batliwala’s appointment signals the company’s ambition to level up its global playbook. As esports matures into a billion-dollar business, industry insiders will be watching closely to see how Batliwala’s deal-making and brand-building expertise helps unlock the next phase of Hero’s journey.
Game face on the global esports arena just got a little more interesting.
Brands
Lotus Chocolate FY26 profit drops sharply, Q4 slips into loss
Revenue steady at Rs 579.55 crore, Q4 loss at Rs 4.47 crore
MUMBAI: Sweet on the top line, slightly bitter on the bottom Lotus Chocolate’s FY26 numbers tell a story that’s more dark cocoa than milk. The company managed to hold its revenue steady for the year, but profitability took a visible hit, capped by a loss-making fourth quarter. Lotus Chocolate Company Limited reported revenue from operations of Rs 579.55 crore for the year ended March 31, 2026, marginally up from Rs 573.75 crore in FY25. Total income rose to Rs 615.61 crore, compared with Rs 574.56 crore in the previous year, supported by a sharp jump in other income to Rs 36.06 crore from just Rs 0.81 crore.
However, the gains at the top did little to cushion profitability. Net profit for FY26 fell dramatically to Rs 0.10 crore, down from Rs 17.23 crore in FY25, reflecting significant cost pressures across the business.
The March quarter proved particularly challenging. The company reported a net loss of Rs 4.47 crore in Q4 FY26, compared with a profit of Rs 0.14 crore in the previous quarter and Rs 1.42 crore in the same quarter last year. Total income for the quarter stood at Rs 138.01 crore, down from Rs 150.21 crore in Q3 FY26 and Rs 157.52 crore in Q4 FY25.
Expenses remained elevated throughout the year. Total expenses rose to Rs 614.44 crore in FY26 from Rs 551.50 crore in FY25, eating into margins. A key swing factor was the cost of materials consumed, which stood at Rs 304.44 crore, while changes in inventories also reflected volatility, with a negative impact of Rs 62.44 crore in the previous year reversing to a positive Rs 52.93 crore this year.
Employee benefit expenses nearly doubled to Rs 34.00 crore from Rs 17.98 crore, while finance costs surged to Rs 16.31 crore from Rs 7.11 crore, indicating higher borrowing and funding costs. Depreciation and amortisation expenses also increased to Rs 3.92 crore from Rs 1.81 crore, reflecting ongoing investments.
On the balance sheet front, total assets stood at Rs 275.96 crore as of March 31, 2026, slightly higher than Rs 270.34 crore a year earlier. Borrowings remained significant, with current borrowings at Rs 89.00 crore, highlighting continued reliance on external funding.
Cash flow dynamics showed improvement in operations, with net cash generated from operating activities at Rs 93.23 crore, compared with a negative Rs 129.60 crore in FY25. However, financing outflows remained high at Rs 74.90 crore, driven largely by repayment of borrowings and interest costs.
Despite stable revenue, the sharp drop in profitability underscores the pressure of rising input costs, higher finance expenses and operational adjustments. The contrast between steady sales and squeezed margins leaves Lotus Chocolate at a crossroads proving that in business, as in confectionery, the real test isn’t just in the sweetness of sales, but in the richness of returns.
