Brainbees Solutions Limited announced its Q3 and 9M FY26 results, highlighting key consolidated achievements including PAT positive status (adjusted for ESOP cost) in Q3’FY26 and a 25% YoY increase in Adjusted EBITDA for 9M’FY26. The company maintained Free Cash Flow positive status for the first nine months of the fiscal year. Segment-wise, India Multi-channel showed sequential revenue improvement, while International business focused on sustainable growth amidst elevated promotions.
Consolidated Business Performance Highlights (Q3 & 9M FY26)
The company reported several key consolidated milestones for the period ending December 31, 2025:
- PAT Positive: The business was PAT positive in Q3’FY26, when adjusted for Employee Stock Option Plan (ESOP) costs.
- EBITDA Growth: A significant 25% YoY increase was observed in Adjusted EBITDA for the nine months ending FY26.
- Cash Flow: The business remained Free Cash Flow positive for 9M’FY26.
Q3 FY26 Snapshot
The third quarter demonstrated robust transaction volumes and growth:
- Unique Transacting Customers: Reached 11.3 Million, reflecting a 10% increase versus December 2024.
- GMV: Stood at INR 34,247 Million, up 10% versus Q3’FY25.
- Revenue from Operations: Increased by 12% YoY to INR 24,236 Million.
- Profitability: Consolidated Adjusted EBITDA reached INR 1,538 Million (6.3% margin), and Cash Profit After Tax grew 23% YoY to INR 1,155 Million.
9M FY26 Snapshot
Over the nine-month period, growth was sustained across key metrics:
- Revenue from Operations: Grew 11% YoY to INR 63,853 Million.
- Consolidated Adjusted EBITDA: Increased 25% YoY to INR 3,673 Million, with the margin expanding to 5.8%.
- Cash Profit After Tax: Showed substantial growth of 72% YoY, reaching INR 2,397 Million.
Segmental Updates and Strategy
India Multi-Channel Business
The core India business showed sequential improvement in YoY revenue growth despite muted consumer sentiment. Key points include:
- Performance: Continued to be PAT and Free Cash Flow positive in 9M’FY26.
- Challenges: Diapering category faced heightened competition, and supply chain volatility impacted overall growth by approximately ~200bps in Q3’FY26.
- Initiatives: The company is rolling out RocketBees (faster delivery, expanded to 22 cities with 20%+ TAT improvement) and piloting Qwik (delivery in less than 3 hours). They also aim to realign the offline product portfolio by H1’FY27.
- Customer Loyalty: Customers acquired in FY2025 generated 3.8x the Year 0 GMV by Year 4, indicating strong retention.
International Business (KSA & UAE)
The international segment prioritized sustainable growth over participating in elevated promotional activities:
- Revenue Growth: Revenue grew 7% YoY in Q3’FY26 and 11% in 9M’FY26.
- Loss Reduction: Adjusted EBITDA losses reduced by 25% YoY in Q3’FY26 and 36% in 9M’FY26, demonstrating continuous margin improvement. The Adjusted EBITDA margin improved from (17%) in 9MFY25 to (10%) in 9MFY26.
- Market Insight: The Average Order Value (AOV) in the international segment is 4.3 times that of the India Multi-Channel segment for the quarter.
Globalbees
Globalbees delivered another quarter of organic and profitable growth:
- Core Category Performance (9M FY26): Core categories delivered 30% YoY growth, contributing INR 698 Million in Adjusted EBITDA (post corporate expenses), reflecting a margin of 4.9%.
- Rationalization: The company is endeavoring to complete the rationalization of ‘Other Brands’ (which are incurring losses) by Q1’FY27.
Platform Strength and Market Position
FirstCry continues to leverage its platform across commerce and community:
- India Dominance: It is the largest multi-channel retailer for Mothers’, Babies’, and Kids’ products in India, with 79% of India multi-channel GMV coming from online channels.
- Product Assortment: The platform offered 1.9 Million+ SKUs from over 7,833 brands as of the end of the period.
- Home Brands: Home Brands now account for >55% of India Multichannel GMV (up from 37% in FY20), driving superior margins.
- Community Engagement: The parenting community remains India’s largest, integrating commerce and content within the same mobile application to drive retention.
Source: BSE
