MAM
ZebPay appoints Tarun Jain as chief financial officer
Mumbai: Homegrown crypto-asset exchange ZebPay has announced the appointment of Tarun Jain as its chief financial officer (CFO).
In this role, Jain will shape the strategic and long-term financial direction of ZebPay’s business. He will work closely with the leadership team to scale the organisation and its systems for the next phase of growth, said the statement.
Some of the key focus areas for Jain include planning, implementing, and managing all financial activities of the company. In addition to business planning, he will also be responsible for budgeting, forecasting, and leading strategic business negotiations, the company stated.
“We welcome Tarun to the ZebPay Ohana (family). We have been working very hard to democratise crypto assets and with Tarun on board, we are spearheading the growth journey,” said ZebPay Co-CEO Avinash Shekhar. “Tarun’s varied experience in different sectors brings the resilience and acumen needed to help ZebPay reach the last mile of India and make crypto-assets a common name in the households. We are looking forward to this change.”
With more than 17 years of experience as a chartered accountant with various startups and MNCs, Jain possesses strong expertise in financial management, investor relations, fundraising, strategic planning, commercial negotiation, and risk management, the company said. Before joining ZebPay, he was working with Lithium Urban Technologies as CFP, after having succeeded in several leadership positions in organisations such as Zoomcar, Herman Miller, and Warner Bros.
“I am looking forward to supporting the development of ZebPay’s business and its suite of industry-first products for crypto investors in India,” said Tarun Jain on his new role. “ZebPay is on a path to becoming the foremost crypto player in India and I am glad to be leading the financial and strategic direction.”
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.
