FIRSTCRYNSEFinancial Year 2026June 02, 2026

Brainbees Solutions Limited

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Key numbers — 40 extracted
rs,
a-Kurla Complex, Bandra (E), Mumbai-400051 Symbol: FIRSTCRY BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001 Scrip Code: 544226 Sub: Transcript of the Earnings Call on the Audit
12%
lidated business, we are free cash flow positive for the full year. Revenue for FY26 has grown by 12% year-on-year and adjusted EBITDA has increased by 24% year-on-year for the full year. We are happ
24%
he full year. Revenue for FY26 has grown by 12% year-on-year and adjusted EBITDA has increased by 24% year-on-year for the full year. We are happy to mention that net losses for Q4 has reduced by 57%
57%
24% year-on-year for the full year. We are happy to mention that net losses for Q4 has reduced by 57% and for full year FY26, it has reduced by 23%. Now, on segmental updates, revenue for India multi-
23%
ppy to mention that net losses for Q4 has reduced by 57% and for full year FY26, it has reduced by 23%. Now, on segmental updates, revenue for India multi-channel 2 business,
11.4%
segmental updates, revenue for India multi-channel 2 business, we are at 11.4% in Q4 growth and despite competitive intensity, which continues to remain in the quarter and our
33%
aser sharp focused on sustainable growth and has been able to reduce our adjusted EBITDA losses by 33% for the Q4 year-on-year basis and 35% for the entire FY26. So, its been a very good progress on t
35%
h and has been able to reduce our adjusted EBITDA losses by 33% for the Q4 year-on-year basis and 35% for the entire FY26. So, its been a very good progress on the international side as well, because
28%
ront, we had a very strong quarter on both organic side as well as profitable growth. We delivered 28% of core category year-on-year growth in FY26 with roughly around 92 Crores of adjusted EBITDA pos
92 Crore
fitable growth. We delivered 28% of core category year-on-year growth in FY26 with roughly around 92 Crores of adjusted EBITDA post corporate expenses and we'll talk about in a little more detail as we go
10%
. Moving further, you'll see performance for the consol business at a GMV level, we increased by 10% over FY25 3 revenue, overall grew by 12% to 8,547 Crores and adjusted EBITDA ha
8,547 Crore
at a GMV level, we increased by 10% over FY25 3 revenue, overall grew by 12% to 8,547 Crores and adjusted EBITDA has increased by 24% on a consol basis year-on-year to around 486 Crores and
Guidance — 20 items
Management
opening
“All participants have been muted as per the default mode and participants will be unmuted once we open the Q&A forum for the members to ask questions after the presentation from the management concludes.”
Management
opening
“We will be covering the presentation in the beginning of the call and we will thereafter open for the Q&A forum.”
Management
opening
“So, we will start with key highlights for Q4 and FY26.”
Management
opening
“Revenue for FY26 has grown by 12% year-on-year and adjusted EBITDA has increased by 24% year-on-year for the full year.”
Management
opening
“We are happy to mention that net losses for Q4 has reduced by 57% and for full year FY26, it has reduced by 23%.”
Management
opening
“So, that's a very good outcome of our initiative and overall, we believe that with the current initiatives that we have taken across multi-channel, we believe that this trajectory of sequential quarterly better growth will continue in FY27.”
Management
opening
“So, FY27, we continue to believe that because of our initiatives that we will have a better growth overall for FY27 than compared to the entire FY26.”
Management
opening
“We are happy to state that we continue to remain PAT and cash flow positive for an India multi-channel business for the entire FY26.”
Management
opening
“the in India In the international business, we continue to remain seeing the elevated promotional pressures from the horizontal commerce players that we had talked about which entered the market in late Q3 of FY25.”
Management
opening
“But, we continue to remain super laser sharp focused on sustainable growth and has been able to reduce our adjusted EBITDA losses by 33% for the Q4 year-on-year basis and 35% for the entire FY26.”
Risks & concerns — 12 flagged
Margin pressure that we saw in Q3 which has continued and a bit of other gross margin loss that we saw was largely because in our manufacturing part of our business, which is again very transitional because of the two factors which is rupee depreciation as well as crude-linked raw material prices, which has gone up.
— Management
These will be passed on to the customers and the impact of the incremental gross margin loss apart from the Q3 will be regained back in quarter two as they are being passed to the customer in a regular BAU.
— Management
So, the real impact of RocketBees you will see, as more and more customers get impacted and build their repeat cohorts and build their frequency while having great customer experience and likewise for the Qwik and the offline initiative has just started.
— Management
Our diapering category continued to witness heightened competitive intensity during the quarter which led to pressure on both on growth as well as margins.
— Management
This was 9.5% in FY25, this is largely because of, as Supam and Vivek mentioned, some pressure in gross margins which is on account of heightened competition in our diapering category, which represents 15% of our business and the second one is basically a dip in Q4 because largely in our manufacturing business, because of rupee depreciation and the increase in the crude-linked raw material prices.
— Management
So, till then, you have to front-load, so, we will have some impact of 40 to 60 bps from few quarters, but in a medium term as the network matures, our cost will normalize to a regular sort of a cost structure that we had, and that cost will be, excess will be nullified.
— Management
Second, just if you can elaborate a bit what exactly is the source of this gross margin pressure you touched upon a bit on certain categories, but is it more of a competitive 16 Mr.
— Management
Gautam Sharma pressure which is hurting us or inflation or mix of everything playing out together?
— Management
We had seen this pressure in 2016-2017 as well, but everything normalized and lately, few more players in the Quick-com who have joined sort of and again there has been the same intensity has been carried forward in the larger horizontal commerce players as well.
— Management
This, pressure on diapers from Quick Commerce in terms of margins, is it coming from largely the unlisted players, or is it… are you seeing any behavioral change once you get listed and you start chasing profitability, or the behavior is across the same in terms of losing money or being aggressive on this category?
— Management
Is there any risk of someone trying to acquire us?
— Management
It will be very difficult to go to 100%.
— Management
Speaking time
Management
1
Opening remarks
Management
Mr. Supam Maheshwari Managing Director & CEO Mr. Gautam Sharma Group Chief Financial Officer Mr. Vivek Goel Chief Business Officer Mr. Abhinav Sharma Country Head, Middle East Business Mr. Anuj Jain CEO, Globalbees Mr. Harsh Kabra Investor Relations 1 Mr. Harsh Kabra Good evening, everyone. Welcome to Brainbees Solutions Limited Q4 and Financial Year 2026 earnings call. This is Harsh Kabra, and I have with me, Mr. Supam Maheshwari, Managing Director and CEO of the Company, Mr. Gautam Sharma, Group Chief Financial Officer, Mr. Vivek Goel, Chief Business Officer of the Company, Mr. Abhinav Sharma, Country Head of Middle East Business Operations and Mr. Anuj Jain, CEO of Globalbees. Kindly note that this call is meant for analysts and investors of the Company. We wish to highlight that the call is being recorded and by participating in this event, you consent to such recording, distribution and publication. All participants have been muted as per the default mode and participants will be
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