Brainbees Solutions LimitedRetailFIRSTCRY
Q1 FY27 concall · earnings callBrainbees Solutions Limited
The company delivered its strongest consolidated revenue growth in five years, driven by structural improvements in its core India multi-channel business and progress on profitability across segments.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Consolidated Revenue Growth | 13% | — | |
| India Multi-Channel Revenue Growth | 17.7% | — | |
| Consolidated GMV | ₹2,807 Cr | 12% | |
| Consolidated Adjusted EBITDA Margin | 4.24% | — | |
| International Business Adjusted EBITDA Loss (as % of revenue) | 7% | -320 bps | |
| GlobalBees Adjusted EBITDA Margin | 3.9% | +290 bps | |
| Pre-school Revenue | ₹19 Cr | 47% |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹2,172.31 Cr— YoY+14% QoQ | ₹-14.74 Cr— YoYLoss narrowed QoQ | ₹-0.16— YoYLoss/share narrowed QoQ |
| Q2 FY25 | ₹1,904.92 Cr— YoY+15.3% QoQ | ₹-62.85 Cr— YoYLoss narrowed QoQ | ₹-1.09— YoYLoss/share narrowed QoQ |
| Q1 FY25 | ₹1,652.07 Cr— YoY— QoQ | ₹-75.69 Cr— YoY— QoQ | ₹-1.28— YoY— QoQ |
TL;DR
- Consolidated revenue grew 13% YoY, the strongest growth in five years.
- India multi-channel business revenue grew 17.7% YoY, the best in seven quarters, and remained PAT positive.
- International business revenue grew 12% YoY with adjusted EBITDA losses reducing by 22%.
- GlobalBees revenue was flat but adjusted EBITDA margin improved from 1% to 3.9%.
- Key initiatives RocketBees, FC Qwik, and offline assortment depth drove growth and customer experience improvements.
- Gross margin moderated due to diapering competition and input costs, but recovery is expected to accelerate.
Said on the call
“This is the strongest revenue growth in the last five years, that we have demonstrated on a consolidated basis.”
From the Q&A
| Topic | What management said |
|---|---|
| Gross Margin Recovery | Management stated 20 bps of the 280 bps gross margin loss from Q4 has been recovered, with faster recovery expected due to easing diaper competition and passing on input cost increases by end of Q2. |
| India Multi-Channel Growth Sustainability | Management believes growth will remain elevated due to successful initiatives (RocketBees, FC Qwik, offline assortment) and plans to resume store expansion (~100 net stores in FY27). |
| International Business Breakeven | Management did not give a specific timeline but pointed to a 9% reduction in losses over 15 months (from -16% in Mar '25 to -7% in Q1 FY27) and stated the path is 'sooner than you think'. |
| Diapering Competition & Strategy | Management views the intense competition as temporary and unsustainable, similar to 2015-16, and expects normalization in the next few quarters, aided by FC Qwik service and home brands. |
| GlobalBees Flat Growth | Attributed to a planned warehouse transition for a core brand; growth would have been in 'high teens' otherwise, and a bounce-back is expected starting Q3. |
Guidance
- Gross margin recovery to be 'much faster' in subsequent quarters.
- Expect to fully pass on crude-linked raw material price increases to customers by end of Q2 FY27.
- India multi-channel growth rate 'will remain elevated' in subsequent quarters.
- Plan to add ~100 stores (net) in FY27.
- International business aims for EBITDA neutrality 'as soon as possible'.
- GlobalBees growth expected to bounce back starting Q3 FY27.
Source
Summary written from the transcript filed by Brainbees Solutions Limited for the call held on 13 Aug 2026; published 21 Aug 2026, 09:56 IST.
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