🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Funding cycles come and go; great teams persist, compound value for shareholders: FirstCry’s Supam Maheshwari

Economic TimesEconomic Times · 1y ago
Funding cycles come and go; great teams persist, compound value for shareholders: FirstCry’s Supam Maheshwari
Medial

Indian retail brand FirstCry, operated by Brainbees Solutions, will launch its IPO on August 6, with a target of raising Rs 4,188 crore. CEO Supam Maheshwari discussed the company's journey, the changing IPO landscape for new-age firms, and plans for expansion. Despite market fluctuations, Maheshwari emphasized the importance of creating sustainable value and building a unique ecosystem story. FirstCry plans to open 350 stores over the next three years, invest in technology and manufacturing, and expand internationally. Maheshwari highlighted the significance of the omnichannel model and the growth potential in both online and offline retail. The company's brand aggregator platform, Globalbees, also showed positive financial performance.

FirstCry parent records Rs 1,863 Cr revenue, Rs 75 Cr EBITDA in Q1 FY26

EntrackrEntrackr · 16d ago
FirstCry parent records Rs 1,863 Cr revenue, Rs 75 Cr EBITDA in Q1 FY26
Medial

Brainbees Solutions, the parent of kids-focused omnichannel retailer FirstCry, reported a 13% year-on-year rise in revenue and a 13% reduction in losses for the quarter ending June 2025. FirstCry's revenue from operations grew to Rs 1,862.56 crore in Q1 FY26 from Rs 1,652 crore in Q1 FY25, its unaudited financial statements sourced from the National Stock Exchange (NSE) show. The sale of its products through offline stores and websites in India and the international market was the primary source of revenue, accounting for nearly 77.55% of total operating revenue, while its subsidiary, GlobalBees, contributed Rs 426 crore. The company also made Rs 49 crore from interest income which took its overall revenue to Rs 1,911 crore in Q1 FY26, compared to Rs 1,679 crore in Q1 FY25. For the omnichannel retailer, the cost of procurement of materials accounted for 58% of the overall expenditure which increased 11% year-on-year to Rs 1,145 crore in Q1 FY26 from Rs 1,029 crore in Q1 FY25. FirstCry’s employee benefits stood at Rs 203 crore in Q1 FY26 which includes Rs 60 crore as ESOP cost. The marketing, legal, rent, and technology were other overheads that pushed the overall expenditure to Rs 1,971 crore in Q1 FY26. The decent scale and controlled expenditure helped FirstCry to reduce its losses by 13% to Rs 66.5 crore in Q1 FY26. Notably, the company reported a positive EBITDA of Rs 75 crore. On a unit basis, the company spent Rs 1.06 to earn a Rupee of operating revenue in Q1 FY26. At the end of today’s trading session, FirstCry’s share price stood at Rs 375.35 per share, with a total market capitalization of Rs 19,586 crore (approximately $2.2 billion).

GlobalBees faces insolvency plea from directors of Kuber Industries

EntrackrEntrackr · 2m ago
GlobalBees faces insolvency plea from directors of Kuber Industries
Medial

GlobalBees Brands Private Limited, a subsidiary of Brainbees Solutions Ltd (which owns FirstCry), is facing an insolvency plea at the National Company Law Tribunal (NCLT), New Delhi. Ashutosh Garg, Paritosh Garg, and Manju Agarwal, the directors of Kuber Mart Industries, have approached the NCLT, New Delhi bench, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) over an alleged default of Rs 64.92 crore. The claim includes interest at 18% per annum from May 9, 2025, until the date of actual payment. Notably, GlobalBees is an investor in Kuber Mart Industries, having infused Rs 50 crore in June 2022. The application is currently at the admission stage. According to a regulatory filing made by Brainbees on June 17, Globalbees is actively pursuing legal counsel and taking steps to oppose the petition, including contesting its admission. “The financial implication on the company cannot be ascertained and is contingent upon the final outcome of the said proceedings and subsequent legal challenges,” the filing stated. Over the past few months, GlobalBees saw the resignation of three board representatives, including Harsha Deepak Kumar (Lightspeed), Sudhir Kumar Sethi (Chiratae Ventures), and Kaveesh Chawla (Premji Invest). The company’s chief executive, Nitin Agarwal, also stepped down from his role due to personal reasons. Agarwal was replaced by Anuj Jain, who joined the firm as the new CEO. Globalbees was launched in 2021 as a Thrasio-style roll-up venture focused on acquiring and scaling digital-first consumer brands across categories like personal care, home, and nutrition. It has raised over $270 million in funding with the likes of SoftBank, Lightspeed, and Avendus. In FY25, FirstCry group reported Rs 7,660 crore in revenue from operations while GlobalBees contributed Rs 1,577 crore (over 20%) to the total revenue.

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%

EntrackrEntrackr · 6m ago
FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%
Medial

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70% Brainbees Solutions, the parent company of kids-focused omnichannel retailer FirstCry, has released its Q3 FY25 today. The report highlights sound financial growth, with a 14.3% year-on-year growth in scale and controlled losses by 70%. FirstCry's revenue from operations grew to Rs 2,172 crore in Q3 FY25 from Rs 1,900 crore in Q3 FY24, its unaudited financial statements sourced from the National Stock Exchange (NSE) show. The sale of its products through offline stores and websites in India and the international market was the primary source of revenue, accounting for nearly 82% of total operating revenue, while its subsidiary, GlobalBees, contributed Rs 422 crore. The company also made Rs 44 crore from interest income which took its overall revenue to Rs 2,217 crore in Q3 FY25, compared to Rs 1,936 crore in Q3 FY24. For the omnichannel retailer, the cost of procurement of materials accounted for 66% of the overall expenditure which increased 17% year-on-year to Rs 1,451 crore in Q3 FY25 from Rs 1,239 crore in Q3 FY24. FirstCry’s employee benefits stood at Rs 177 crore in Q3 FY25 which includes Rs 28 crore as ESOP cost. The marketing, legal, rent, and technology were other overheads that pushed the overall expenditure to Rs 2,210 crore in Q3 FY25 from Rs 1,978 crore in Q3 FY24. The decent scale and controlled expenditure helped FirstCry to reduce its losses by 70% to Rs 15 crore in the last quarter. Notably, the company reported a positive EBITDA of Rs 152 crore. As of the last trading session, FirstCry’s share price stood at Rs 419 per share, with a total market capitalization of Rs 21,753.8 crore (approximately $2.5 billion).

Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over

EntrackrEntrackr · 4m ago
Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over
Medial

Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over According to a regulatory filing, Agarwal officially ceased to be a director of Globalbees and a senior management personnel of Brainbees Solutions as of April 24. Brainbees Solutions Limited, the parent company of FirstCry, has announced a key leadership change at its subsidiary, Globalbees Brands Private Limited. Nitin Agarwal, who served as the CEO and director of Globalbees Brands, has stepped down from his role due to personal reasons. According to a regulatory filing, Agarwal officially ceased to be a director of Globalbees and a senior management personnel of Brainbees Solutions as of April 24. He will, however, support transition activities until May 23, 2025. Stepping into the role is Anuj Jain, who has been appointed as the new CEO of Globalbees Brands and designated as a senior management personnel of the company. Jain currently serves as the chief business officer (CBO) of FirstCry’s pre-school segment and senior vice president of marketing. A part of the company’s leadership team since July 2012, Jain brings over 23 years of industry experience, having previously worked at ITC and L'Oréal. E-commerce roll-up firm GlobalBees last raised $18 million in a debt round from Avendus in February 2024. To date, the company has secured over $270 million in funding, including a $111 million Series B round in December 2021, which propelled it to unicorn status. In FY24, the FirstCry group recorded a 15% year-on-year increase in revenue from operations to Rs 6,481 crore, with GlobalBees contributing Rs 1,209 crore to the group’s total revenue.

Download the medial app to read full posts, comements and news.