New Delhi [India], May 19: Global Capability Centers have entered a new phase. What began as cost optimization hubs has now evolved into strategic engines for innovation, digital transformation, and AI-led growth. According to industry estimates, India hosts over 1,500 GCCs employing more than 1.5 million professionals, contributing significantly to global enterprise operations. The next evolution is already underway. It is the rise of micro GCCs, and TENCYS is playing a defining role in shaping this model.
Led by Anil Mishra, TENCYS brings a sharp, execution-driven perspective to building high-value, lean capability centers that are aligned with business outcomes from day one.
A Deep Understanding of TENCYS’ Talent Fabric
TENCYS’ advantage is no longer limited to scale. It is about the diversity and specialization of its talent pool. TENCYS has built its strategy on diverse vetted partner network.
While cities like Bangalore, Hyderabad, and Pune remain global technology anchors, a new wave of high-quality talent is emerging from cities such as Bhubaneswar, Indore, Ahmedabad, and Kochi. These ecosystems offer strong academic pipelines, lower attrition rates, and increasing exposure to global delivery standards.
TENCYS leadership has first-hand experience in building and operating capability centers across consulting, advanced analytics, AI innovation, and Industrial IoT. This is not a theoretical positioning. The team has built internal platforms, managed global delivery teams, government partnerships and scaled multi-location operations. This experience allows TENCYS to move beyond hiring and infrastructure. It focuses on designing capability architectures.
Not just centralizing teams, TENCYS offers distributed capability nodes. A data engineering team may operate from Pune, AI research from Bangalore, and process operations from Bhubaneswar. This model improves resilience, reduces cost pressure, and ensures access to niche skills without overdependence on a single geography.
Why the TENCYS Micro GCC Model Is Gaining Global Relevance
Enterprises today need faster outcomes with tighter cost control, but traditional GCC enablers often come with high costs and rigid contracts that limit flexibility. This makes it difficult for organizations to adapt, scale, or exit when needed.
TENCYS addresses this with a micro GCC model built on flexibility and cost efficiency. It enables enterprises to start with small, high-impact teams aligned to specific business goals, without heavy upfront investment or long-term lock-ins.
What sets TENCYS apart is its role as a strong handholding partner in the Indian ecosystem. It manages talent, operations, and delivery, allowing global leaders to stay focused on innovation and growth.
The result is a lean, low-risk model that delivers faster value and greater control, making it increasingly relevant for modern enterprises.
Built Operate Transfer as a Strategic Enabler
The success of TENCYS in delivering micro GCCs is strongly anchored in its Built Operate Transfer model.
Build phase TENCYS consulting begins with a business-first approach. It aligns the GCC design with enterprise goals, identifies the right mix of locations, and builds teams that combine technical expertise with domain understanding. Speed is a critical factor. GCCs are set up rapidly without compromising on quality.
Operate phase This is where TENCYS creates differentiation. The company brings its own delivery frameworks, quality processes, and AI-driven operational models into the GCC. With deep expertise in analytics, digital engineering, and enterprise platforms, TENCYS ensures that the center starts delivering value early.
TENCYS experience across industries including healthcare, manufacturing, and retail strengthens its ability to deliver context-driven outcomes.
Transfer phase Once the GCC achieves operational maturity, TENCYS transitions the center to the client. The transition is structured, seamless, and designed for long-term sustainability. Clients receive a fully functional capability center with aligned teams, established processes, and embedded culture.
This model significantly reduces risk for global enterprises. It removes the complexity of setting up and scaling operations in a new geography while ensuring high-quality execution.
Value Creation at the Core
TENCYS approaches GCCs with a clear philosophy. Value creation comes before scale.
Micro GCCs built by TENCYS are designed to deliver:
Faster time to value through lean and focused teams
Higher productivity using AI-enabled workflows
Lower operational costs through distributed talent strategies
Stronger innovation outcomes driven by specialized capabilities
This approach is particularly relevant in today’s environment where enterprises are balancing cost optimization with innovation mandates.
TENCYS also integrates its broader strengths into GCC delivery. With capabilities in AI, cybersecurity, analytics, and enterprise platforms, the company ensures that micro GCCs are not isolated units. They become integrated engines of transformation.
A Global Perspective with Local Execution Strength
TENCYS operates with a global mindset while leveraging India’s deep talent advantage. Its leadership experience in building products, scaling operations, and delivering enterprise solutions gives it a strong foundation to serve international clients.
The company’s focus on responsible AI, process-driven delivery, and business-first thinking positions it as a strategic partner rather than a traditional vendor.
The Future of GCCs Is Lean and Outcome Driven
The GCC landscape is evolving rapidly. Enterprises are looking for flexibility, speed, and measurable outcomes. Large, monolithic setups are giving way to agile, modular models.
TENCYS is at the forefront of this shift. By combining distributed talent strategies with a disciplined execution model, it is building micro GCCs that deliver serious business value.
As global organizations rethink their operating models, micro GCCs will become a critical lever for transformation. TENCYS is not just participating in this change. It is helping define it.
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Pune (Maharashtra) [India], May 19: S A Tech Software India Limited, a leading IT consulting and digital engineering services company, announced its Audited Financial Results for H2 FY26 & FY26.
The Company delivered a healthy performance during FY26, supported by strong demand for digital engineering, cloud transformation, and data-driven solutions. Growth was driven by increased client spending on technology modernization, expansion in global markets, and continued focus on innovation-led service offerings.
During H2 FY26, the Company also strengthened its position in the GCC enablement space by successfully supporting global enterprises in establishing and scaling their India operations. A notable milestone was the successful enablement of Axiado Corporation’s India GCC, reinforcing SA Tech’s growing capabilities in GCC setup, engineering talent scaling, operational integration, and long-term technology partnerships.
Key Financial Highlights –
H2 FY26 Highlights
Total Income: ₹6,354.54 Lakhs
EBITDA: ₹608.14 Lakhs
Profit After Tax (PAT): ₹280.63 Lakhs
FY26 Highlights
Total Income: ₹11,362.35 Lakhs
EBITDA: ₹699.37 Lakhs
Profit After Tax (PAT): ₹216.74 Lakhs
Management’s comment:
Manij Joshi, Founder and CEO, commented:
“FY26 marked an important growth journey for SA Tech Software India Ltd, where the Company transitioned from a steady H1 to a significantly stronger and more scalable H2 performance.
H2 FY26 reflected the impact of focused execution, stronger client relationships, improved delivery efficiencies, and a sharper operational strategy. The Company reported Total Income of ₹6,354.54 Lakhs, EBITDA of ₹608.14 Lakhs, and PAT of ₹280.63 Lakhs during H2 FY26 — demonstrating a meaningful improvement across all key financial parameters over H1 FY26.
Beyond financial performance, H2 also represented a strategic milestone as we strengthened our order pipeline across digital engineering, cloud transformation, data-driven services, and GCC enablement through new client wins and deeper engagement with existing customers.
The successful enablement of Axiado Corporation’s India GCC during the period further highlights our growing expertise in supporting global enterprises with scalable engineering ecosystems, talent expansion, and operational excellence in India.
Entering FY27, we believe the Company is positioned on a much stronger foundation with healthy demand visibility, an expanding order book, growing GCC opportunities, and improving business momentum. We remain optimistic that the strong H2 trajectory will continue into H1 FY27 and beyond.”
About S A Tech Software India Limited
S A Tech Software India Limited is an IT consulting and digital engineering services company, offering solutions across cloud, data analytics, enterprise applications, and software development. The company serves a diverse global client base, focusing on delivering scalable, innovative, and technology-driven solutions.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
New Delhi [India], May 18: Hafele, a German brand known for its architectural hardware and kitchen fittings, presents the Zenith Digital Lock designed to deliver enhanced security through intuitive smart technologies and versatile locking functions. Finished in Black and Grey, the lock blends seamlessly into modern interiors while offering a refined, tech-enabled access experience.
At the core of the Zenith Digital Lock are its smart technologies that elevate everyday convenience. The Smart Password feature ensures secure access with added protection against password tracing, while Smart Voice provides guided assistance for smooth and user-friendly operation. Additionally, Smart Freeze acts as a safety mechanism by temporarily disabling access after multiple incorrect attempts, reinforcing security and control.
Complementing these are multiple locking modes that adapt to different usage needs. The Auto Locking Passage Mode ensures the door locks automatically after every use, while the Locking Privacy Mode secures the space from inside without external access. The Double Locking Mode adds an extra layer of security, and the Authentication Mode allows controlled entry through verified credentials. Together, these features make the Zenith Digital Lock a dependable and intelligent solution for modern homes.
Established as a wholly owned subsidiary of HäfeleGlobal network, HäfeleIndia has been operating in India since 2003. An authority in the field of architectural hardware, furniture and kitchen fittings and accessories, the company also has a strong presence in synergized product categories like Home Appliances, Interior and Furniture Lighting, Sanitary Solutions, and Surfaces positioning itself as a complete solution provider for interior solutions in India and South Asia. HäfeleIndia has a strong nation-wide presence through its offices and design showrooms spread across the country. The showrooms function as a one-stop-shop for all home interior and improvement needs – from providing in-depth technical advice to kitchen and wardrobe designing services through a team of experts.
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New Delhi [India], May 18: Hafele, a German brand known for its architectural hardware, furniture fittings, and kitchen solutions, presents the Astute Corner Storage Solution designed to transform underutilised kitchen corners into efficient and ergonomic storage spaces. Thoughtfully crafted, this solution optimises available space while enhancing everyday functionality, helping homeowners get more value per square metre.
The Astute Corner Storage Solution offers a versatile design that integrates seamlessly into contemporary kitchens. Available in Chrome and Metallic Anthracite finishes, it complements a wide range of interior styles. The metallic anthracite finish pairs especially well with Hafele’s MatrixBox Premium Plus Drawer Systems, ensuring a cohesive and refined look across the kitchen.
Designed for easy access, the unit features a patented motion mechanism that brings the entire storage system outward with a single smooth operation. Equipped with four baskets, it provides ample space for organising pots, pans, and everyday essentials. The ergonomic design allows the baskets to extend out of the cabinet, making every item easily accessible while eliminating the inconvenience of reaching into deep corners.
Established as a wholly owned subsidiary of Hafele Global Network, Hafele India has been operating in India since 2003. An authority in the field of architectural hardware, furniture, and kitchen fittings and accessories, the company also has a strong presence in synergized product categories like Home Appliances, Interior and Furniture Lighting, Sanitary Solutions, and Surfaces, positioning itself as a complete solution provider for interior solutions in India and South Asia. Hafele India has a strong nationwide presence through its offices and design showrooms spread across the country. The showrooms function as a one-stop shop for all home interior and improvement needs – from providing in-depth technical advice to kitchen and wardrobe designing services through a team of experts.
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New Delhi [India], May 18: Suntech Infra Solutions Limited (NSE: SUNTECH), one of the leading B2B civil construction and infrastructure services providers, announced its Audited Financial Results for H2 FY26 & FY26
H2 FY26 Highlights
Total Income stood at ₹11,020.21 Lakhs
EBITDA stood at ₹2,456.07 Lakhs with EBITDA Margin of 22.29%
PAT stood at ₹1,072.80 Lakhs with PAT Margin of 9.73%
FY26 Highlights
Total Income stood at ₹17,916.16 Lakhs
EBITDA stood at ₹3,822.09 Lakhs with EBITDA Margin of 21.33%
PAT stood at ₹1,375.25 Lakhs with PAT Margin of 7.68%
Other Key Highlights:
·FY26 Total Income increased 16% YoY to ₹17,916.16 Lakhs driven by strong demand in infrastructure execution and equipment hiring operations
·PAT grew 14% YoY to ₹1,375.25 Lakhs reflecting operational resilience despite higher finance and depreciation costs associated with business expansion
·Hiring Business revenue increased to ₹1,632.61 Lakhs in FY26 while Job Work business contributed ₹15,994.76 Lakhs, demonstrating diversified revenue streams across infrastructure operations
·The Company maintained healthy execution momentum across civil construction and infrastructure development projects during FY26
Commenting on the performance, Mr. Gaurav Gupta, Director, Suntech Infra Solutions Limited, stated:“Our performance during FY26 reflects the Company’s strong execution capabilities and sustained momentum across both Hiring and Job Work business segments. The infrastructure and construction sector continues to offer significant long-term opportunities, supported by increasing investments in infrastructure development across the country. Our focus remains on improving operational efficiencies, strengthening our equipment base, and enhancing execution capabilities to cater to growing project requirements. We have also continued deploying IPO proceeds towards working capital requirements and acquisition of construction equipment, which will further strengthen our operational capacity and support scalable growth in the coming years.With a healthy order pipeline, diversified business model, and strong industry outlook, we remain confident of sustaining our growth momentum while creating long-term value.”
About Suntech Infra Solutions Limited:
Suntech Infra Solutions Limited is a B2B construction and infrastructure solutions company engaged in civil construction, turnkey foundation works, and construction equipment rental services. The Company has executed projects across sectors such as Power, Oil & Gas, Steel, Cement, Renewable Energy, Refineries, Process Plants, and Infrastructure. Suntech is led by a highly experienced management team and has built strong capabilities in piling, foundation engineering, bridge works, and industrial structures.
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Kolkata (West Bengal) [India], May 18: Dar Credit & Capital Ltd. an NSE-listed Non-Banking Financial Company (NBFC), today announced its audited financial results for the financial year ended 31 March 2026, delivering a year marked by strong financial performance, accelerated business expansion, enhanced operational capabilities and significant strengthening of its capital structure.
The Company continued to reinforce its position as a fast-growing financial institution focused on financial inclusion, sustainable lending and disciplined execution across underserved and emerging markets in India.
Driven by strong demand across its lending portfolio, strategic geographic expansion and prudent risk management practices, DCCL reported healthy year-on-year growth across key financial and operational parameters during FY2025–26.
Financial & Operational Highlights – FY2025–26
Operational Snapshot (as on 31 March 2026)
Presence across 6 states — West Bengal, Bihar, Jharkhand, Rajasthan, Madhya Pradesh and Gujarat
35 operational branches across urban, semi-urban and rural markets
Continued expansion of customer reach with focus on financial inclusion and responsible lending
Sustained emphasis on portfolio quality, operational efficiency and governance excellence
Key Financial Highlights
Assets Under Management (AUM): ₹229.55 crore(Growth of 34.95% YoY)
Total Income: ₹50.05 crore(Growth of 20.92% YoY)
Profit After Tax (PAT): ₹10.13 crore(Growth of 43.89% YoY)
Net Worth: ₹103.85 crore(Growth of 41.25% YoY)
Earnings Per Share (EPS): ₹7.45(Growth of 5.82% YoY)
EBITDA: ₹34.69 crore(Growth of 18.55% YoY)
Return on Equity (ROE): 11%
The Company’s consistent growth trajectory reflects the strength of its business model, prudent underwriting framework and ability to scale operations while maintaining financial discipline.
Strategic Milestones Achieved During FY2025–26
Successful Capital Raising & Balance Sheet Strengthening
During the year, DCCL undertook multiple strategic initiatives to strengthen its liability profile and enhance long-term growth capabilities.
Key initiatives included:
Achieved successful listing of the Company on the NSE Emerge Platform by raising an aggregate amount of ₹2,565.60 lakhs through the issuance of 42,76,000 Equity Shares (face value ₹10 each) at ₹ 60 each.
Successful fund raise of ₹61 crores through issuance of Non-Convertible Debentures (NCDs) during FY 2025–26.
Continued engagement with banks, financial institutions and capital market participants to diversify funding sources and optimize borrowing costs.
Strengthening of the Company’s capital base to support future expansion and scale lending operations efficiently.
These initiatives are expected to significantly enhance DCCL’s ability to accelerate growth while maintaining a prudent and resilient balance sheet structure.
Strengthening Market Leadership
As a listed NBFC, DCCL remains committed to building a scalable, technology-enabled and governance-driven lending franchise.
The Company continues to focus on:
Expanding access to credit across underserved customer segments
Strengthening branch-led distribution capabilities
Leveraging technology-driven processes for operational efficiency and customer service excellence
Maintaining disciplined credit assessment and portfolio monitoring standards
Enhancing stakeholder confidence through transparency, compliance and strong corporate governance practices
Management Commentary
Commenting on the Company’s annual performance, Ramesh Kumar Vijay, Chairman, Dar Credit & Capital Ltd., said:
“FY2025–26 has been a transformational year for Dar Credit & Capital Ltd. The Company has delivered strong financial performance while simultaneously strengthening its operational foundation and expanding its market presence.”
“Our sustained growth in AUM, profitability and net worth reflects the resilience of our business model and the dedication of our team. The successful capital raising initiatives undertaken during the year demonstrate growing confidence from investors, lending institutions and stakeholders in DCCL’s long-term vision and growth potential.”
“As we move into the next phase of expansion, we remain focused on disciplined execution, responsible lending, technological advancement and sustainable value creation for all stakeholders.”
Outlook
India’s financial services and NBFC sector continues to present significant long-term growth opportunities, particularly in underserved and underpenetrated credit markets.
DCCL remains well-positioned to capitalize on these opportunities through:
Geographic expansion into high-growth markets
Strengthening of digital and technology infrastructure
Diversification of funding relationships
Continued focus on portfolio quality and operational efficiency
Commitment towards advancing financial inclusion across India
The Company remains confident of sustaining its growth momentum while maintaining a balanced approach towards profitability, governance and risk management.
About Dar Credit & Capital Ltd.
Dar Credit & Capital Ltd. is an NSE-listed Non-Banking Financial Company (NBFC) incorporated in 1994 and registered with the Reserve Bank of India.
Headquartered in Kolkata, the Company provides credit solutions focused on emerging and underserved customer segments across India. Through its expanding branch network, disciplined lending practices and strong governance framework, DCCL continues to build a scalable and sustainable financial services franchise.
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New Delhi [India], May 18: India’s kajal category continues to remain one of the strongest and most-consumed segments within the beauty industry, with consumers increasingly looking for products that combine long-lasting performance, comfort, and formulation-focused benefits. As the Indian beauty market evolves rapidly, products that balance everyday wearability with high-impact results are witnessing stronger traction across both online and offline channels.
Amidst this growing category, Forever52’s Amazonic Kajal has recently gained attention following celebrity collaborations with actress Shilpa Shetty and TV sensation Nia Sharma. Most recently, Nia Sharma collaborated with Forever52 for a Mother’s Day campaign featuring the brand’s products, including the Amazonic Kajal. The campaign brought additional focus to the product across digital beauty and entertainment platforms while strengthening the brand’s presence within the everyday makeup category.
The increasing focus around the product also reflects a larger shift happening within celebrity beauty collaborations today. Consumers are becoming more selective about the products they purchase, especially in categories used almost daily, such as kajal. Celebrity endorsements are also being viewed more through the lens of credibility, product relevance, and formulation quality rather than simple promotional visibility.
Amazonic Kajal has been positioned as an everyday performance product designed for modern beauty consumers. The kajal features an intense black payoff along with a waterproof and long-lasting formula that lasts for up to 24 hours. The product is dermatologically and ophthalmologically tested and is also vegan, paraben-free, and led-free, making it suitable for regular daily wear.
Priced at INR 249, the Forever52 Amazonic Kajal is available on Nykaa, Tira, Blinkit, Amazon, the brand’s official website, and Forever52 retail stores/offline outlets across India. The product is also among Forever 52’s top-selling products across 1,600 retailers in India, with one Amazonic Kajal sold every minute globally.
In India, kajal continues to remain more than just a makeup essential. It is one of the most-used beauty products across age groups and forms a part of daily makeup routines for millions of consumers. Whether for minimal everyday looks, office wear, festive makeup, or full glam routines, kajal remains a staple category with consistently high consumer demand. As a result, the market has become increasingly competitive, with buyers expecting products to deliver strong pigmentation, smudge resistance, smooth application, and long-hour comfort simultaneously.
Alongside performance, formulation-focused beauty has also become a growing priority among Indian consumers. Buyers today are paying closer attention to the products they use around the eyes and are increasingly looking for options that feel safer and more suitable for regular wear. This has led to stronger demand for products that combine performance-driven features with dermatologically and ophthalmologically tested formulations.
The growing traction around Amazonic Kajal also highlights the increasing demand for affordable performance makeup within India’s beauty industry. Consumers today are actively seeking products that offer premium-looking results without entering luxury price points. With a combination of long wear, waterproof performance, accessibility, and celebrity associations, the product continues to strengthen its positioning within the affordable everyday makeup segment.
As India’s beauty industry continues to expand rapidly, the kajal category remains one of the most competitive and high-consumption segments in the market. With rising consumer awareness around formulations and increasing demand for everyday performance products, Forever52’s Amazonic Kajal continues to strengthen its presence among modern Indian beauty consumers looking for products that combine performance, accessibility, and everyday wearability.
About Forever52
Established in 2008 in the UAE, Forever52 has expanded its presence across 40+ countries globally and launched in India in 2018. Known for its professional-quality makeup and trend-forward beauty products, the brand has built a strong presence among makeup artists, creators, and beauty consumers. Forever52 continues to focus on creating innovative, high-performance products designed for everyday wearability and modern beauty needs.
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New Delhi [India], May 18: Fusion Finance announced its Q4FY26 and full-year FY26 results, reflecting a strong recovery in operating performance led by sustained improvement in collection efficiency, asset quality, write-off recoveries, and portfolio performance, which led to a sharp reduction in credit costs during the quarter. The Company closed FY26 on a significantly stronger footing, with improving business momentum and a strengthened balance sheet.
Fusion Finance returned to full-year profitability.
Continued strengthening in portfolio quality and disciplined growth in disbursements.
AUM at Rs 7407 crore as of March 2026, growing 8% over the sequential quarter.
Collection efficiency and recoveries improved significantly, driving lower credit costs and stronger profitability.
Avg. Collection efficiency on portfolio outstanding improved consistently during the year and reached 99.66% in Q4FY26, the highest level over the last several quarters, and the new book, as per tighter guardrails, performed with an avg CE of 99.77% during the quarter. This was achieved by focused recovery efforts, disciplined field execution, and continued customer engagement.
The strengthening in collections translated into a significant improvement in asset quality metrics during the quarter. Gross NPA improved to 3.21% in Q4FY26 from 4.38% in Q3FY26, while Net NPA improved to 0.51% from 0.63% in the previous quarter.
Improved portfolio quality and stable collection trends also resulted in a meaningful reduction in credit costs. Credit cost as per the ECL model for Q4FY26 stood at Rs 56 crore, declining 30% sequentially and 78% year-on-year. Net P&L impact from credit costs reduced to Rs 32 crore during the quarter, compared to Rs 65 crore in Q3FY26 and Rs 247 crore in Q4FY25.
Reflecting the improvement in operating performance, Fusion reported Profit After Tax (PAT) of Rs 114.2crore for Q4FY26, after including the Deferred Tax Asset (DTA) recognition of Rs 76.8 crore during the quarter. Excluding the DTA recognition, profitability improved materially on the back of superior credit costs, improved recoveries, and stable operating performance, with Q4FY26 profit at INR 37.4 Crore. For the full financial year FY26, the company returned to profitability and reported a PAT of Rs 13.9crore.
After multiple quarters of calibrated normalization, Fusion’s Assets Under Management (AUM) grew to Rs 7,407 crore as of March 31, 2026, registering an 8% sequential increase. Quarterly disbursements grew 34% QoQ and 85% YoY to Rs 2,140 crore, reflecting calibrated business momentum alongside continued focus on portfolio quality.
Net Interest Margin (NIM) improved to 11.44% in Q4FY26 from 11.32% in Q3FY26, supported by better portfolio yields, improving asset quality, and lower marginal cost of borrowing.
Commenting on the performance, Mr. Sanjay Garyali, MD & CEO, Fusion Finance Limited, said: “The quarter reflects the steady strengthening of our core operating metrics. Our focused efforts on improving collection efficiency, driving disciplined recoveries, and maintaining prudent underwriting standards have resulted in strong improvement in portfolio quality across the business. The decline in GNPA, NNPA, and credit costs demonstrates the effectiveness of our risk management and execution capabilities. As collection trends stabilize further, we remain focused on pursuing sustainable growth while maintaining portfolio quality and operational discipline.”
Fusion continued to strengthen its pan-India distribution network during the year, with presence across 1,536 branches in 22 states and 3 Union Territories.
Mumbai (Maharashtra) [India], May 18: Cupid Limited (Cupid, The Company) announced its strongest-ever quarterly performance in Q4 FY26 (quarter ended 31st March 2026), driven by strong execution, consistent demand momentum, and improved traction across key business segments.
Building on this strong close to the year, the Company has entered FY27 with healthy business momentum, supported by a strong order book, improving execution visibility, and sustained demand across markets, providing confidence for continued growth ahead.
– Operating Income of ₹ 357.71 Cr, YoY growth of 95%
– EBITDA of ₹ 116.70 Cr, YoY growth of 180%
– PBT of ₹ 142.47 Cr, YoY growth of 160%
– Net Profit of ₹ 108.23 Cr, YoY growth of 165%
Note: Percentage figures have been rounded off to the nearest whole number
Historic Quarterly Performance & Growth Momentum
·Q4 FY26 stands as the strongest quarter in the Company’s history, with Cupid Limited surpassing its FY26 annual guidance of ₹335 Cr revenue and ₹100 Cr net profit, reflecting exceptional business momentum and execution strength
·Strong performance was driven by scale-up across key business segments, supported by improved operating leverage, efficient execution and sustained demand momentum
·Healthy traction continues across domestic and international markets, providing strong visibility for continued growth ahead
·Strongest ever order pipeline continues across global institutional agencies, government procurement programs and FMCG channels
Product Mix & Business Scale-Up
·Male condoms remained the largest revenue contributor with revenue contribution of ~₹181.11 Cr during FY26
·Female condoms contributed ~₹60.72 Cr, supported by increasing global demand and expanding procurement opportunities
·Newly launched FMCG Products contributed ~₹84.26 Cr during FY26 and continues to scale rapidly with expanding retail distribution and consumer reach
·IVD kits and Personal Lubricant contributed ~₹24.97 Cr with gradual scale-up and increasing market opportunities
·Diversified product portfolio across healthcare, wellness, diagnostics and FMCG categories continues to strengthen the overall business mix
Export Business & Global Expansion
·Exports contribute ₹208.13 Cr, accounting for 59.30% of revenue. The Company exports its products to over 125 countries, with a strong presence across Africa and other high-demand international markets
·Sharp focus continues on strengthening exports business and expanding international presence across regulated as well as emerging markets
·Global footprint expansion of approximately 35% is targeted over the coming year through deeper market penetration, strategic partnerships and increasing participation in international procurement programs
·Increasing penetration into regulated markets continues to be supported by certifications, technological capabilities and long-standing global relationships
·Healthy institutional demand and repeat business from leading global procurement agencies continue to support long-term international growth visibility
·USD/INR exchange rates currently remain among the highest levels witnessed historically, expected to act as a favourable tailwind given the Company’s meaningful export exposure and growing international operations
FMCG Expansion & Style Baazar Ecosystem
·Aggressive expansion of FMCG distribution footprint across India continues, supported by increasing consumer penetration and strengthening retail access
·Strategic investment of ₹331.53 Cr in Baazar Style Retail Limited significantly strengthens FMCG distribution ecosystem and market reach
·Initial deployment of ₹82.88 Cr representing 25% of the total investment has already been completed with allotment of 1,01,00,000 warrants
·Access to a rapidly expanding retail network of 250+ stores is expected to improve shelf presence, last-mile reach and product availability across key markets
·Planned expansion of the Style Baazar network to 500+ stores over the next 2–3 years is expected to significantly enhance consumer touchpoints and brand visibility
·Faster rollout of the expanding FMCG portfolio is expected through stronger store-level execution and consumer insights
·The Style Bazaar ecosystem is expected to support approximately ₹150 Cr incremental revenue in FY27 with scale-up potential to approximately ₹500 Cr annual revenue over the medium term
·Integrated go-to-market strategy combining manufacturing scale, brand building and retail distribution capabilities is expected to support long-term FMCG growth
Strategic Investments & Ecosystem Expansion
·Strategic investments in GII Healthcare Fund and Baazar Style Retail Limited are expected to create significant long-term value through both standalone appreciation and broader ecosystem advantages
·Investments remain aligned with the broader vision of strengthening presence across healthcare, wellness, FMCG and retail distribution ecosystems
·These strategic initiatives are expected to create additional avenues for long-term value creation while supporting future business scale-up opportunities
Nitrile Female Condom & Dual Polymer Expansion
·Development Program for nitrile female condoms commenced during the quarter, targeting a premium global segment historically supplied by a single global manufacturer
·Global female condom market was estimated at approximately $770 Mn in 2024 and is projected to exceed approximately $1.2 Bn by 2030, with nitrile positioned as a premium latex-free category
·Growing demand from global procurement agencies for supply diversification continues to create strong opportunities within the segment
·25–35% Higher pricing compared to latex alternatives, along with strong technical, regulatory, and supply chain entry barriers,continue to make the segment strategically attractive
·New manufacturing facility has been designed with integrated dual polymer dipping capability enabling production of both Natural Rubber Latex and Nitrile condoms on dedicated lines without cross-contamination
·Integrated dual polymer capability positions Cupid as the only condom manufacturer in India with manufacturing capabilities across male condoms, female condoms and nitrile female condoms
·Upon full commissioning, expanded manufacturing capacity is expected to support annual production of approximately 1.25 Bn male condoms and approximately 125 Mn female condoms
Branding & Technology Positioning
·“Made in India with Japanese Quality” initiative continues to strengthen the Company’s global positioning and brand differentiation
·Collaboration with Asia’s oldest latex condom manufacturer further strengthens technological and manufacturing capabilities
·Branding strategy remains focused on enhancing positioning across domestic consumers as well as global OEM partners
Diagnostics & Regulatory Certifications
·During FY26, CE (EU IVDR) certification was received for HIV 1&2 Antibody, Hepatitis B,Syphilis and Pregnancy test kits.
·Certification under EU IVDR 2017/746 representsone of the most stringent global regulatory standards for diagnostics products
·Access to European Economic Area markets and other CE recognised geographies is expected to significantly strengthen international opportunities
·Eligibility for government tenders, multilateral healthcare programs and large-scale public health screening initiatives globally has further strengthened following the certification
Raw Material Security & Operating Environment
·Raw material inventory remains comfortably secured for well over six months across key product categories, including inputs linked to crude derivatives
·Strategic inventory positioning is expected to support operational stability, uninterrupted execution and margin resilience across domestic and international markets
·Demand across global B2B and India focused B2C FMCG businesses continues to remain robust and buoyant, supported by expanding distribution, sustained institutional demand and growing consumer penetration
·Strong raw material security and favourable global demand trends continue to position the business well to navigate inflationary cycles while sustaining growth momentum
Strategic Growth Outlook
Building on strongest ever operational momentum, expanding FMCG distribution network, growing international opportunities and ongoing capacity expansion initiatives, Cupid Limited remains strategically positioned for significant scale-up over the next three financial years.
·Rapid expansion of FMCG distribution footprint across India
·Increasing contribution from high-margin B2C business
·Capacity expansion across male and female condom portfolio
·Growth in global institutional and government tenders
·New product additions across lubricants, wellness and diagnostics
·Operating leverage benefits from scale and backward integration efficiencies
·Continued focus on disciplined execution, margin expansion and long-term shareholder value creation for shareholders
Commenting on the performance, Mr. Aditya Kumar Halwasiya, Chairman and Managing Director, said, “We have delivered a historic performance in FY26, surpassing our annual guidance and reporting revenue of ₹ 358 Cr and net profit of ₹108 Cr. This performance reflects strong execution, improving operating leverage, and sustained demand across our businesses, resulting in our strongest-ever quarterly and full-year performance.
During the quarter, we commenced the development Program for nitrile female condoms, entering a premium segment which has historically been supplied by a single global manufacturer. Backed by our dual polymer manufacturing capability, we are uniquely positioned as the only manufacturer in India with the ability to produce both latex and nitrile condoms, with a planned capacity of ~1.25 billion male condoms and ~125 million female condoms annually.
We have also strengthened our global positioning through our ‘Made in India with Japanese Quality’ initiative, supported by our collaboration with one of Asia’s oldest condom manufacturers, reinforcing our focus on quality and technological excellence.
In diagnostics, we further strengthened our regulatory portfolio during FY26 with the receipt of CE EU IVDR certification for our HIV and Hepatitis B test kits, along with CE certification for our Syphilis and Pregnancy test kits. These approvals collectively enhance our access to regulated markets such as Europe while strengthening our participation in global public health programs.
On the domestic front, our strategic investment of ₹331.53 Cr in Baazar Style Retail significantly strengthens our FMCG distribution. We have already deployed ₹82.88 Cr, providing access to a retail network of over 260 stores, which is expected to scale beyond 500 stores over the next 2 to 3 years. This ecosystem is expected to generate ~₹150 Cr incremental revenue in FY27 and scale up to ~₹500 Cr annually over the medium term, while significantly improving our brand visibility and last mile reach.
Looking ahead, with strong export momentum, a favorable currency environment, and a well-secured raw material position, we are confident of sustaining this growth trajectory and achieving our FY27 revenue target of ₹600 Cr with net margins above 30%, as we continue to build a scalable and globally competitive business.”
About Cupid Limited
Established in 1993, CUPID Limited, India’s premier manufacturer and brand of male and female condoms, water based personal lubricants, IVD kits, deodorants, perfumes, almond hair oil, body oils, petroleum jelly and other FMCG Products. The company operates with a strong commitment to public health and well- being, maintaining ethical business practices aligned with international standards. In alignment with its strategic growth plans, the company has recently expanded its product offerings to include Fast-Moving Consumer Goods (FMCG) such as fragrance products (Eau De Parfums, Deodorants, Pocket Perfumes), personal care items (Toilet Sanitizers, Hair & Body Oils, Hair Removal Sprays, Face Wash), and other wellness solutions. In March 2024, the company completed a strategic land acquisition in Palava, Maharashtra, enabling it to amplify its production capacity by 1.5 times the existing output. As a result, the annual production capacity will be augmented by approximately 770 million male condoms and 75 million female condoms. The company has a prominent presence in international markets and is the first company in the world to attain WHO / UNFPA pre-qualification for both male and female condoms. CUPID currently exports its products to over 125 countries, with a substantial portion of its revenue generated from international markets. Furthermore, CUPID has established a long-term agreement with WHO / UNFPA. The company is listed on BSE (BSE: 530843) and NSE (NSE: CUPID).
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Mumbai (Maharashtra) [India], May 18: Fredun Pharmaceuticals Limited (BSE – FREDUN | 539730)is pleased to announce the launch of “HORMONE RANGE PRODUCTS, its premium specialty therapeutics brand focused on longevity, hormone health, recovery science, and human performance solutions. The initiative marks Fredun’s strategic entry into a rapidly expanding, high-value healthcare segment driven by increasing global demand for preventive, performance-oriented, and precision-based therapeutics.
Built on a doctor-led, ethical, and evidence-backed pharmaceutical model, the hormone range products combine clinical credibility with a digital-first patient/doctor engagement ecosystem to deliver an integrated healthcare experience focused on outcomes, adherence, and long-term patient value. The range is designed to address the growing shift from traditional disease management towards healthy lifespan optimization, preventive care, and advanced performance therapeutics.
Strategic Highlights
·Strategic expansion into high-growth longevity and specialty hormone therapeutics
·Doctor-led and evidence-backed platform focused on clinical outcomes
·Premium positioning in hormone health, recovery science, and performance care
·Digital + Pharma hybrid model enabling end-to-end patient engagement
·Focused on precision-driven, high-margin, and differentiated therapeutic categories
·The range of products will work hand in hand with our protein supplement range and help
strengthen our reach within the existing demographic, while enabling us to offer a more comprehensive approach towards preventive healthcare, wellness, and performance therapeutics
The initial portfolio includes therapies and formulations based on testosterone and its salts, nandrolone, growth hormone-oriented solutions, and supportive hormone optimization therapies, developed to meet specialised clinical requirements under appropriate medical supervision. The platform is further supported by protocol-driven patient monitoring, doctor engagement, and direct-to-patient fulfillment capabilities designed to improve treatment continuity and patient adherence.
The brand leverages Fredun Pharmaceuticals Limited’s established strengths in pharmaceutical formulation development, quality-focused manufacturing, and global distribution capabilities, while creating new opportunities in premium, innovation-driven therapeutic segments. ADARO is positioned to build a differentiated presence through scientific quality, regulatory alignment, premium product experience, and clinically guided treatment pathways.
Core Business & Growth Drivers
·Premium, science-driven therapeutic positioning
·Focus on hormone optimization and preventive healthcare
·Digital-led patient acquisition and retention strategy
·Specialised formulations with strong clinical orientation
·Direct-to-patient engagement and subscription-based continuity model
·Expansion into emerging high-growth healthcare categories
With increasing consumer and medical focus on vitality, metabolic health, recovery science, and preventive wellness, Fredun believes its hormone range products are well-positioned to address an evolving market opportunity through a trusted, outcomes-focused, and ethically driven pharmaceutical approach. The launch further reinforces the Company’s long-term vision of building a diversified and future-ready healthcare portfolio spanning both large-scale generics and advanced specialty therapeutics.
Commenting on the development, Mr. Fredun Medhora, Managing Director, Fredun Pharmaceuticals Limited said: “The launch of our hormone range products represents a significant milestone in our journey towards building a more specialised and future-ready pharmaceutical portfolio. As we move up the value chain, our focus is on entering segments that demand high scientific rigor, clinical validation,and manufacturing excellence. This range reflects our vision by bringing together medical expertise andevidence-based formulations to create a credible presence in hormone and performance therapeutics.”
About Fredun Pharmaceuticals Limited
Fredun Pharmaceuticals Limited, healthcare and pharmaceuticals company offer a range of products, including antihypertensives, antidiabetic, antiretroviral drugs (ARVs) and narcotics. It is also engaged in the manufacturing of dietary/herbal supplements, nutraceuticals, cosmeceuticals, and other healthcare products along with animal healthcare products. With such a diverse range of products, the Company’s objective is to be a holistic healthcare provider. The Company primarily exports its products to Africa, Southeast Asia, Commonwealth of Independent States (CIS) countries and Latin America.
In the FY25, Fredun reported total revenues of ₹ 456 Cr, with an EBITDA of ₹ 55 Cr and a PAT of ₹ 21 Cr.
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