Company Overview
Brainbees Solutions Limited (FirstCry) filed comprehensive disclosures including its 16th AGM notice, annual report, BRSR, and financial statements for FY 2025-26. The company operates as a leading e-commerce platform in the retail and consumer goods sector with significant operations in India and international markets.
Financial Performance
Consolidated Results: Revenue grew 11.59% to ₹85,479 million with Adjusted EBITDA increasing 24% to ₹4,860 million. Despite revenue growth, the company reported a net loss of ₹2,037 million, though this represented an improvement from the previous year's loss of ₹2,648 million. The company achieved positive free cash flow for the first time.
Segment Performance: India Multi-Channel business crossed $1 billion GMV milestone with revenue of ₹57,533 million (9% growth) and 8.8% EBITDA margin. International business (UAE & KSA) reported revenue of ₹9,474 million with improved EBITDA loss of ₹907 million. GlobalBees Brands segment grew 20% to ₹18,943 million revenue.
Operational Metrics
The company maintained 1,189 modern stores (536 COCO + 653 FOFO), 2 million+ SKUs, and 7,800+ brands. FirstCry App reached 193 million downloads with 42.8 million orders processed. The workforce totaled 6,419 employees with 52.89% turnover rate for permanent staff.
ESG and Sustainability Disclosure
The BRSR report disclosed comprehensive ESG metrics: energy consumption of 33,885 GJ (2.77% renewable), water withdrawal of 89,256 KL, GHG emissions of 6,937 MT CO2e, and 802 MT waste generated (100% recovered). The company reported 100% training coverage on human rights policies and zero cases of sexual harassment or data breaches.
Corporate Governance and Actions
The 16th AGM is scheduled for September 22, 2026, to consider reappointment of directors including Mr. Sanket Hattimattur (who holds 634,780 shares), revision of independent director remuneration to ₹30 lakhs annually, and variation in IPO object utilization extending timeline to FY2028-29. The board underwent changes with Mr. Puneet Renjhen resigning and Ms. Saloni Jain Rana appointed.
Regulatory Compliance and Contingent Liabilities
The company faced several regulatory matters including income tax demand of ₹31.36 crore (appealed), customs duty demand of ₹6.56 crore (appealed), and GST demand of ₹9.17 lakh (appealed). Legal metrology compounding fees totaled ₹4.70 lakh. The financial statements received unmodified audit opinion from Walker Chandiok & Co LLP.
Capital Structure and Subsidiaries
Paid-up capital stood at ₹104.41 crore with market capitalization of ₹10,876 crore as of March 31, 2026. The group comprises 41 entities including 8 direct subsidiaries and 29 step-down subsidiaries. Material subsidiaries include Digital Age Retail Private Limited (99.99% holding) and GlobalBees Brands Private Limited (51.68% holding).
Outlook and Strategic Initiatives
The company proposed reallocation of unutilized IPO proceeds (₹5,747 million) toward new warehouses, technology investments, marketing initiatives, and additional stake acquisitions in step-down subsidiaries. RocketBees coverage reached 62 cities (40% of online shipments) with target of 45-50% coverage by mid-FY26-27.