Brainbees Solutions Limited (FirstCry) operates India’s largest multi-channel retail platform for mothers, babies and children, combining online marketplace, 1,200+ modern stores, franchise partners and a parenting community to sell 1.9 million SKUs from ~7,833 brands, and owns several home brands such as BabyHug, Babyoye and Cutewalk that drive a growing share of GMV and superior margins.

Q3 FY26 and 9M FY26 show operational momentum: consolidated revenue grew ~12% in Q3 and ~11% for 9M, consolidated adjusted EBITDA rose 11% in Q3 and 25% for 9M, and FirstCry reported PAT-positive results in Q3 on an adjusted-for-ESOP basis and positive free cash flow for 9M FY26, indicating improved earnings quality and cash generation.

India multichannel continues sequential improvement in YoY growth (7.5% in Q1, 7.9% in Q2, 8.9% in Q3) despite supply-chain volatility; management expects structural re-acceleration in FY27 driven by RocketBees last-mile rollout, FC Qwik few-hours delivery pilots, and a product portfolio realignment to increase footfalls and conversions in offline COCO/FOFO stores.

Globalbees is scaling profitably: core categories delivered 30% YoY growth for 9M FY26 with INR 698 Mn adjusted EBITDA post corporate expenses, while Globalbees rationalization of loss-making brands is slated for completion by Q1 FY27, an action expected to improve consolidated margins and free up management focus to scale higher-margin brands.

International operations (UAE and KSA) are improving margins and reducing losses sequentially, with adjusted EBITDA losses down 25% YoY in Q3 and 36% for 9M, reflecting a deliberate strategy of sustainable growth over aggressive promotional spending while leveraging higher AOVs in these markets.