Category: Business

 

 

Index returns to expansion zone despite West Asia disruptions; exports, PMI strength and rural demand offset softer urban consumption

India, 26th May 2026: India’s economy performed better in April, with the Moneycontrol Eco Pulse Index rising to 51.6 from 49.2 in the previous month, despite disruptions from the West Asia crisis continuing for yet another month.

A reading above 50 signals expansion, indicating that economic momentum recovered after March’s contraction as manufacturing, exports and parts of domestic consumption continued to support activity.

What’s moving the index?

Indicator	Mar-26	Apr-26
PMI Manufacturing	53.9	54.7
PMI Services	57.5	58.8
PMI Composite	57.0	58.2
Four-wheeler sales	25.8	11.6
Tractor sales	11.1	24.5
Two-wheeler sales	29.5	13.0
Three-wheeler registrations	27.3	27.2
Petrol consumption	7.6	6.8
Diesel consumption	8.0	0.9
ATF consumption	0.7	-0.1
Naukri Job Speak Index	9.2	5.8
Electricity demand	1.7	3.9
E-way bill generation	12.9	11.8
Non-food credit	16.9	16.3
UPI volume	23.7	24.9
Credit card payments	7.1	0.7
MGNREGA work demanded	-21.8	-36.0
Major Port Cargo Traffic	1.1	2.5
Core sector output	1.2	1.7
Exports	-7.4	13.8
Imports	-6.0	10.0
Wholesale inflation	3.9	8.3
Urban unemployment	6.8	6.6

The recovery was led by an improvement in business activity. Manufacturing PMI rose to 54.7 in April from 53.9 in March, while services PMI improved to 58.8 from 57.5. The composite PMI also rose to 58.2, suggesting that private-sector activity remained resilient despite global uncertainty.

Exports provided a major boost after March’s weakness. Merchandise exports grew 13.8 percent in April, compared with a contraction of 7.4 percent in the previous month.

Consumption indicators remained supportive, although momentum moderated in some segments. Four-wheeler sales grew 11.6 percent, slower than 25.8 percent in March, while two-wheeler sales rose 13 percent compared with 29.5 percent earlier. Tractor sales, however, strengthened to 24.5 percent, pointing to stronger rural demand.

Financial activity stayed firm. Non-food credit grew 16.3 percent, while UPI volumes rose 24.9 percent, higher than 23.7 percent in March. However, credit card payments slowed sharply to 0.7 percent from 7.1 percent, indicating some softness in discretionary urban spending.

Infrastructure indicators showed only a modest improvement. Core sector output rose 1.7 percent in April, compared with 1.2 percent in March, while electricity demand growth improved to 3.9 percent from 1.7 percent. Major port cargo traffic also rose by 2.5 percent.

Labour market indicators were mixed. Urban unemployment eased to 6.6 percent from 6.8 percent, while youth unemployment declined to 18 percent from 18.4 percent. However, the Naukri Job Speak Index slowed to 5.8 percent, suggesting moderation in formal hiring momentum.

 

Inflation remained a key pressure point. Wholesale inflation accelerated to 8.3 percent in April from 3.9 percent in March, reflecting the impact of higher commodity prices and supply disruptions linked to the West Asia crisis.

The April reading suggests that India’s economy regained momentum after March’s contraction, but the recovery remains uneven. Manufacturing, exports and rural demand supported the index, while softer credit card spending, slower e-way bill growth and weak fuel indicators pointed to areas of caution.

The government allowed some pass-through of crude prices, with pump prices rising by nearly Rs 4 for both diesel and petrol. The increased prices are likely to start reflecting in consumption, with no end to the West Asia crisis in sight as yet.

Moreover, adverse weather conditions, such as El Niño, may hamper rural consumption.

The Moneycontrol Eco Pulse tracks high-frequency indicators across consumption, manufacturing, labour markets, trade and financial activity to provide an early monthly snapshot of India’s economic momentum ahead of official GDP releases.

 

Bengaluru,  May 26: Advancing its role as a growth catalyst for India’s e-lifestyle ecosystem, Myntra has announced the 24th edition of End of Reason Sale (EORS), starting May 29, with early VIP access on May 28. Featuring 6 million+ styles, the event will further strengthen Myntra’s role as a growth enabler for India’s fashion and lifestyle ecosystem, creating scaled opportunities for emerging brands while bringing trend-first selection, compelling value, and convenience to millions of customers across the country.

EORS continues to boost growth for emerging brands

Among the thousands of global, domestic, and homegrown D2C brands, 15,000 emerging brands, including 5,000 making their EORS debut, will leverage the platform’s technology, creator ecosystem, and nationwide reach to connect with millions of customers across India. EORS continues to serve as a growth enabler, driving heightened demand for emerging brands through enhanced visibility, new selection launches, and category expansion. These brands will bring nearly 13 lakh styles across apparel, footwear, accessories, and more.

Myntra’s advanced technology enables a suite of capabilities, including search and shopping insights to decode trends and demand patterns, simplified performance dashboards, and a dedicated partner support team to guide the brands in their e-commerce journey with Myntra.  

What customers can expect

This edition of EORS will offer 6 million+ styles from thousands of international, domestic, and homegrown brands, giving customers access to a wide selection across fashion, beauty, and lifestyle. The edition is expected to see strong traction across Men’s Casual Wear, Women’s Ethnic Wear, Women’s Western Wear, Workwear, Sports Footwear, Accessories, and Beauty & Personal Care, driven by the summer season, travel, work, college, weddings, and holiday-style upgrades. Several popular brands expected to see increased traction include Levi’s, Nike, adidas, H&M, MANGO, L’Oreal, Lakme, Libas, Decathlon, New Balance, GUESS, ASICS, Wrogn, US Polo Assn., Puma, and Rare Rabbit, among others.

This edition will also offer the best of Beauty & Personal Care, with 2.25 lakh+ styles spanning makeup, skincare, haircare, and personal care, bringing together D2C favourites, international brands, luxe labels, and K-Beauty cult picks. Customers can shop from a line-up including MAC, Bobbi Brown, LUSH, Beauty of Joseon, L’Oréal, The Ordinary, Plum Bodylovin’, Medicube, Foxtale, and many more. Along with the breadth of choice, Myntra Beauty’s tech-enabled tools are designed to make beauty shopping more intuitive and simple. The platform’s AI-powered Skin Analyser allows customers to discover products tailored to their specific skin needs, while the Virtual Try-On feature takes personalisation a step further by enabling customers to test multiple products, making it easier than ever to find the perfect look this season. 

Exciting new launches for the 24th edition of EORS

The mega shopping event will also introduce 100+ new brands across all major categories. Some of the new launches include Kate Spade, Bardot, Longchamp, Aston Martin watches, ELF Beauty, Seapuri, Chloe, Pierre Cardin Bags, STRV, VAHRO, Sparklepop, Juicy Couture, Saucony, Anta, Gully Labs, Mile Collective, and Official FIFA Jerseys, among others. 

Furthermore, Myntra’s Rising Stars, a program built specifically for made-in-India D2C brands, is bringing new launches, including Woomn, RAJAM, Saint Peach, House of Fitness, Mayurie, Indo Aura, Femaura Crafts, and House of Doras, among others.

Adding to the thrill, FWD, Myntra’s Gen-Z proposition, will feature over 700K+ trend-first styles from brands including SZN, Freakins, Bonkers Corner, Glitchez, Anouk Rustic, Lulu & Sky, KPOP, Outzider, among many others.

Compelling Deals and Offers 

Myntra Insiders, members of the loyalty program, can get early access to EORS at just Rs 9, while non-insiders can purchase VIP access at just Rs 19. VIP access also includes other benefits such as an extra 5% off on prepaid orders, extra 10% off on popular brands during Early Access, Cleartrip coupons, VIP-only weekend deals, and much more.

Customers can get 10% instant savings on HDFC Bank credit cards and easy EMI, and 10% extra savings on Flipkart Axis Bank and SBI credit cards. EORS will also feature high-engagement formats such as Treasure Hunt, Brand of the Day, Grab or Gone, Midnight Steal, EORS Specials, and VIP-only deals.

M-Now: Hyper-Speed Fashion Delivery for EORS

Myntra’s hyper-speed delivery service, M-Now, present in 11 cities currently, will continue to be a key convenience driver for shoppers wanting their EORS orders immediately. Powered by 90+ dark stores, with 1 lakh+ styles across fashion, beauty, accessories, and home, M-Now will enable shoppers across Bengaluru, Mumbai, Delhi NCR, Chennai, Kolkata, Hyderabad, Pune, Patna, Jaipur, Lucknow, and Ahmedabad to expect their orders starting just 30 minutes. As customers navigate a busy period of weddings, social gatherings, and last-minute travel plans, M-Now comes in handy with trend-first options, ensuring they never miss out on the perfect look, even at the very last minute.

Speaking about the 24th edition of EORS, Ritesh Mishra, SVP, Head of Revenue & Category, Myntra, said, 

“Over the years, EORS has evolved into one of India’s most anticipated shopping events and an important growth platform, augmenting income and creating employment opportunities, for the country’s fashion and lifestyle ecosystem. The scale of participation from emerging brands, creator communities, and customers reflects the increasing strength of India’s digital commerce landscape. Through our technology, logistics, and creator ecosystem, we remain committed to supporting brands of all sizes to access national demand while delivering a differentiated shopping experience for customers.”

Social commerce powering discovery for EORS

To elevate discovery and engagement, Myntra will continue to tap into its extensive social commerce ecosystem. With over 6 million shopper creators registered on Myntra’s Ultimate Glam Clan and more than 12 million content pieces created within the ecosystem, influencers and creators from across the country will curate themed looks and styling inspiration tailored for the season. These formats continue to see strong participation from Gen Z and millennials, reaffirming Myntra’s leadership in driving interactive, entertainment-led shopping journeys. 

Bengaluru, May 26 : Hiring across India’s travel and hospitality sector is entering a more calibrated phase, with Net Employment Change  at 5.1% for HY1 FY2026–27, according to the Employment Outlook Report by TeamLease Services. While 63% of employers plan workforce expansion, 20% expect no change and 17% anticipate reductions, signalling a measured approach to growth.

This moderation reflects evolving workforce strategies that are increasingly aligned with demand patterns across the sector. Growth continues to be driven by domestic leisure travel, expansion into Tier 2 and Tier 3 destinations, and rising activity in business travel, MICE, and religious tourism. The long-term outlook remains strong, with the sector’s GDP contribution projected to rise from 256 billion dollars in CY24 to 523 billion dollars by CY34, supporting nearly 63 million jobs.

At a functional level, organisations are prioritising hiring for roles that directly influence customer acquisition and service delivery. Expansion intent stands at 53% in sales and marketing, followed by 49% in business continuity and 36% in finance. This distribution reflects a growing emphasis on customer engagement, digital platforms and financial oversight as travel and hospitality businesses scale across channels. Workforce additions are also expected across hotel operations, food and beverage services, event management, travel coordination and wellness tourism roles, reinforcing a service-led hiring approach.

Geographically, Indore, Kochi and Lucknow emerge as key sweet spots in the travel and hospitality sector, recording expansion intent of 20%, 18% and 15% respectively. The sector also reflects a projected salary increment of 9.2% overall. This underscores rising demand across regional markets, supported by improved connectivity, higher disposable incomes and sustained growth in business and leisure travel. Emerging tourism clusters and pilgrimage-linked destinations are further complementing metro-led hospitality hubs, enabling more distributed employment growth across the country.

Commenting on the findings, Balasubramanian A, Senior Vice President, TeamLease Services, said,

“While the 5.1% Net Employment Change reflects a moderation from the previous half year, it is more accurately a phase of stabilisation within a structurally expanding sector. Demand is increasingly being shaped by infrastructure-led tourism development and schemes such as Swadesh Darshan 2.0 and PM GatiShakti, alongside rising MICE and religious travel flows. This is translating into more disciplined, demand-linked hiring rather than anticipatory workforce expansion across the ecosystem.” 

Overall, the hiring outlook reflects a sector that is evolving towards greater efficiency and sharper alignment between demand visibility and workforce planning. Rather than broad based expansion, organisations are prioritising agility in deployment and responsiveness to shifting travel patterns. This transition signals a more mature phase of growth where operational readiness, service consistency, and structured capacity management will define how employment scales across the travel and hospitality ecosystem in the coming cycles. 

These insights are based on a survey of 1,268 employers across 23 industries and 20 cities, conducted between November 2025 and January 2026.

Chandigarh, May 26 : LTM, the Business Creativity partner to the world’s largest enterprises, has entered a strategic partnership withSSP Group,a leading operator of food and beverage outlets in travel locations worldwide. Through this AI-powered partnership, LTM will deliver modernized, end-to-end IT infrastructure support and enhanced application maintenance services to SSP Group.

As part of this engagement, LTM will leverage its advanced AI capabilities including its BlueVerse ecosystem to help SSP manage operational risks, simplify infrastructure and application complexities, and drive business efficiency and agility. Additionally, the collaboration will focus on enabling data-driven decision-making, accelerating innovation through automation, delivering scalable solutions that enhance customer experience, and driving cost optimization through AI automation and simplification.

“As we continue to advance our IT capabilities, having a trusted partner like LTM with deep domain expertise and a focus on AI-led innovation will help us accelerate our transformation, enhance efficiency, improve support operations and deliver greater value to our customers,” said Jon Wood, Chief Digital and Technology Officer, SSP Group.

“We are proud to partner with SSP Group in their digital transformation journey. With BlueVerse, and AI-first approach as well as a deep understanding of SSP’ market, we are committed to being a key enabler in their IT support and modernization initiatives,” said Manju Kygonahally, Chief Business Officer – Europe, LTM.

In the long run, LTM will support SSP’s transition to an intelligent and streamlined IT infrastructure that supports its global network.

India, May 26: New independent research highlights the role of the Mundra International Container Terminal (MICT) is driving trade, unlocking economic value and supporting economic opportunity across the country.

Commissioned in 2003 as India’s first greenfield container terminal within a non-major port, MICT has grown into a critical gateway for containerised trade. The terminal has handled more than 19 million containers to date, including 1.4 million TEU in 2024, serving key industrial and consumption centres across western and northern India.

Today, MICT connects India to 73 global ports and handles ultra-large container vessels of up to 19,200 TEU, supported by multimodal rail connectivity across Gujarat, Rajasthan, Haryana, Punjab and Delhi. This has enhanced supply chain efficiency, enabling Indian businesses to compete more effectively in global markets.

The research, conducted by Oxford Economics, highlights the scale of MICT’s contribution to India’s trade ecosystem and regional economy, including:

• GDP contribution: MICT contributed $128.9 million to India’s GDP in 2024, including $118.8 million within Gujarat.
• Employment: The terminal supported approximately 1,880 jobs nationwide, including 1,240 in Gujarat, while driving economic activity across logistics, transportation, manufacturing, retail and services.
• Long-term economic impact: Enhanced shipping connectivity through MICT is forecast to drive an additional $6.4 billion in exports and a $9.2 billion GDP impact by 2035.

MICT is contributing to the development of a more inclusive and future-ready workforce, including:

• Women in logistics: Nearly one in four jobs associated with the terminal are held by women, reflecting strong participation across the wider ecosystem.
• Youth opportunities: Around 10% of employees are under the age of 25, highlighting growing opportunities for young talent in a traditionally male-dominated sector.
• Workforce inclusion: DP World continues to advance inclusivity across its operations while working towards a more diverse and representative workforce.

At DP World Mundra, faster and more reliable trade is being enabled alongside the creation of better jobs, stronger skills and expanded opportunities for businesses and communities. Through its integrated network of ports, terminals and multimodal logistics infrastructure, DP World is strengthening connectivity between India’s hinterland and coastal gateways, helping businesses access global markets more efficiently.

Hemant Kumar Ruia, Country Manager, DP World Subcontinent (India), said,

 “When infrastructure is built for scale, efficiency and connectivity, it becomes a powerful driver of both economic growth and social progress. At DP World Mundra, we are enabling faster, more reliable trade while creating better jobs, building skills and expanding opportunities for businesses and communities.”

The Oxford Economics report concludes that MICT’s impact extends far beyond port operations. By enabling trade, generating employment, supporting exports and investing in communities, DP World Mundra is playing a pivotal role in shaping sustainable economic growth and opportunity in Gujarat and across India. DP World continues to invest in the long-term development of communities around Mundra through education, scholarships and healthcare initiatives, including:

• Digital learning: Through the ‘Kal Ki Kaksha’ programme, implemented with Pratham Infotech Foundation, the company enabled digital learning for 3,643 students across 17 schools in 2024, with strong participation from girls.
• Financial assistance: The Pragati Scholarship Programme in partnership with Yuva Unstoppable, supports 237 girls, helping reduce dropout rates and promote continued education.
• Healthcare: Two Mobile Medical Vans in collaboration with the Wockhardt Foundation, deliver free medical services to around 20,000 people each year, focused on early diagnosis, treatment and community health awareness.

 

 

May 26, New Delhi:

Amid growing discussions around India’s foreign exchange reserves and the recent appeal by Prime Minister Narendra Modi urging citizens to reduce gold purchases, fuel consumption, foreign travel, and dependence on import-oriented commodities, industry leaders are highlighting new opportunities for Indian startups and innovators.

Speaking at The Directors & Mentors Conclave 2.0 organized by IBSEA, Mr. Sumant Parimal emphasized that the Prime Minister’s appeal should be viewed not only as a call for economic discipline but also as a major opportunity for Indian entrepreneurs and startups to contribute towards strengthening the nation’s economy.

India’s forex reserves recently witnessed a decline of approximately USD 7.7 billion, standing at nearly USD 690 billion for the week ending May 1, bringing renewed attention to export growth and import substitution strategies.

Speaking at The Directors & Mentors Conclave 2.0 of IBSEA Mr Sumant Parimal said “In response to the recent appeal of Prime Minister Modi to conserve forex by cutting down gold purchases, fuel consumption by adopting electric vehicles and public transport, I see three broad call for action cum opportunities for Indian startups which includes increasing forex reserves and trade surplus by building innovative global product brands particularly high value deep tech. products which can be as precious as gold in its economic values. Indian startups need to build hundred and thousands of Global brands through innovative products which increases exports earning in forex leading to higher forex reserves as well as trade surplus and going to be great opportunity for startups as well to globally market its products”.

 “Call for using EV (Electric Vehicle) requires new innovations in charging infrastructure as charging thousands to millions of electric vehicles may requires augmenting power generation, transmission to distribution capacities. Our substations and transformers are mostly hitting capacity limitations in the peak summer, and may not be able to meet additional power capacities required for charging thousands to millions of electric vehicles until unless fresh power capacity and charging infrastructure augmentation happens. This opens additional opportunities for startups for developing and adopting sustainable charging infrastructure solutions”

Sumant Parimal adds further. Mr Sumant Parimal has hailed efforts of IBSEA in promoting and supporting entrepreneurs, startups and MSMEs through strategic mentoring and business ecosystem.

 

SEATTLE — May 26, 2026 — With Seattle set to welcome visitors from around the world for the FIFA Soccer World Cup in just a few weeks, those planning their time between matches will likely gravitate toward familiar stops, such as Pike Place Market, the Space Needle, and MoPOP. Just steps from Seattle Stadium, a less known stop offers a different kind of experience: 

Evergreen Goodwill of Northwest Washington’s Seattle flagship store, the largest Goodwill in the world, invites visitors to immerse themselves into something very Seattle—the city’s commitment to sustainability and the circular economy.

A treasure hunters’ paradise, the 70,000-square-foot resale space stocks approximately 10,000 new items on the shop floor each day. A team comprised of members from over 20 different nations assists visitors as they explore and replace whatever they may have forgotten at home or didn’t realize they might need for their trip.

For travelers navigating a busy and often expensive event, resale offers a compelling shopping alternative:

• A multitude of affordable options at a time when prices are rising
• Access to quality used items being kept out of landfills for minimum environmental impact
• A retail experience shaped by the local community, where inventory reflects what Seattleites give—the best starting point for memorable travel souvenirs

For those moving between matches or exploring nearby neighborhoods, the store can serve several purposes at once: a place to pick up an extra layer, find something unexpected, or take home a piece of Seattle that doesn’t feel mass-produced. Its proximity to Seattle Stadium makes it an easy addition to any itinerary, whether stopping in briefly or spending time exploring.

Unlike traditional retail, each purchase carries an added dimension. Revenue from every sale supports Evergreen Goodwill’s tuition-free job training, education, and career placement programs across Northwest Washington, connecting everyday shopping to long-term community impact. 

Audited standalone & consolidated financial results for the quarter and year ended March 31, 2026

 

L to R -Mr. M. Ramaswamy, Chief Financial Officer, Mr. Rajiv C. Lochan, Managing Director, and Mr. A. N. Raju, Joint Managing Director of Sundaram Finance Limited addressing the media 

May 25: The Board of Directors of Sundaram Finance Ltd. (SFL) approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at its meeting held on May 25, 2026, in Chennai.

“Q4FY26 witnessed continued improvement in the economic environment following the GST 2.0 reforms effected in September 2025. While H1FY26 witnessed trade tariff related complications resulting in somewhat muted demand and macroeconomic activity, H2FY26 gathered steam spurred by the transmission of monetary policy and stimulus provided by fiscal policy measures.Under these circumstances, Team Sundaram has delivered 16.4% growth in AUM to Rs. 59,908 crores, asset quality with net stage 3 assets at 0.69% vs 0.75% last year and profits after tax growth of 19% year-on-year. Our Group companies in asset management, general insurance and home finance have continued to record strong results. We continue to rely on our time-tested approach of steady and sustainable growth with best-in-class asset quality and consistent profitability,” said Harsha Viji, Executive Vice Chairman.

AUM for FY26 grew 16% to Rs. 59,908 crores. Disbursements for FY26 recorded a growth of 14% over FY25 and for Q4FY26, disbursements have grown 17% Y-o-Y. Gross stage 3 assets as on March 31, 2026, stood at 1.44% with provision cover of 53% as against 1.44% as on March 31, 2025, with provision cover of 49%. Profits from operations performed strongly, growing by 18% in FY26 and 14% in Q4FY26. Profit after tax registered a 19% rise in FY26, with net profit at Rs. 1,834 crores.

During the year, the Company has considered Rs. 75 crores under “Exceptional Items” for the incremental impact of the new Labour Codes. Consequently, for Q4, the net profit grew by 11% to Rs. 608 crores. Return on assets closed at 3.03% in FY26 as against 2.85% for FY25 and capital adequacy at 19.1% remained quite comfortable.

Rajiv Lochan, Managing Director, stated, “Our overall performance for the year has been well balanced across growth, asset quality and profitability. Our profitability and profit growth has been strong, asset quality has improved substantially in Q4FY26 to close the year well and growth in disbursements and assets under management has been reasonable. Looking ahead, we remain optimistic that India’s macroeconomic fundamentals remain strong supported by resilient domestic consumption, sustained public capital expenditure and a gradual revival in private investment. While uncertainties due to geopolitical challenges are a key monitorable, we remain confident of our plan to gain market share, maintain best in class asset quality and operating expenses and deliver sustainable profit growth.”

STANDALONE PERFORMANCE HIGHLIGHTS FOR FY26

·Disbursements for FY26 grew by 14% to Rs. 32,321 crores as compared to Rs. 28,405 crores registered in FY25. Disbursements for Q4FY26 grew by 17% to Rs. 8,051 crores as compared to Rs. 6,873 crores registered in Q4FY25.

·The assets under management grew by 16% to Rs. 59,908 crores as on 31stMarch 2026 as against Rs. 51,476 crores as on 31stMarch 2025.

·Net interest income (NII) grew by 21% to Rs. 3,376 crores in FY26 from Rs. 2,793 crores in FY25. Q4FY26 growth in NII was 20% to Rs. 901 crores.

·Gross stage 3 assets as on 31stMarch 2026 stood at 1.44% with 53% provision cover as against 1.44% with provision cover of 49% as on 31stMarch 2025. Net stage 3 assets as on 31stMarch 2026 closed at 0.69% as against 0.75% as on 31stMarch 2025. During the year, the Company reviewed and refined its methodology for computing Expected Credit Loss (ECL), including the use of more recent historical data and machine learning-based model enhancements, where appropriate.

·The Gross and Net NPA, as per RBI’s asset classification norms for NBFCs, are 2.14% and 1.27% respectivelyas against 2.17% and 1.38% as of 31stMarch 2025.

·Costto income ratio improved to 28.71% in FY26 as against 30.80% in FY25.

·Profits from operations grew 18% to Rs. 2,151 crores in FY26 as against Rs. 1,825 crores in FY25. For the quarter, profits from operations grew 14% to Rs. 622 crores.

·The Company has considered Rs. 75 crores under “Exceptional Items” for the incremental impact of the new Labour Codes.

·Higher dividend income resulted in profit after tax registering 19% rise in FY26, with net profit at Rs. 1,834 crores as against Rs. 1,543 crores in FY25. For Q4FY26, PAT grew 11% Y-o-Y to Rs. 608 crores.

·Return on assets (ROA) for FY26 closed at 3.03% as against 2.85% for FY25. Return on equity (ROE) was at 17.49% for FY26 as against 16.30% for FY25. Including the impact of new Labour Codes, the ROA and ROE for FY26 were 2.94% and 17.00% respectively.

·Capital Adequacy Ratio stood at 19.1% (Tier I –17.2%) as of 31stMarch 2026 compared to 20.4% (Tier I – 17.4%) as of 31stMarch 2025.

·The Company has declared a final dividend of Rs. 24/- per share (240%).

CONSOLIDATED PERFORMANCE HIGHLIGHTS FOR FY26

The consolidated results of SFL include the results of its standalone subsidiaries Sundaram Home Finance, Sundaram Asset Management and joint venture company Royal Sundaram General Insurance.

·The assets under management (AUM) in our lending and general insurance businesses stood at Rs. 89,541 crores as on 31stMarch 2026 as against Rs. 78,145 crores as on 31stMarch 2025, a growth of 15%. The assets under management of our asset management business stood at Rs. 77,457 crores as on 31stMarch 2026 as against Rs. 71,826 crores as on 31stMarch 2025.

·Profit after tax for FY26 grew by 10% to Rs. 2,059 crores as compared to Rs. 1,879 crores in FY25, after considering Rs. 76 crores under “Exceptional Items” for the incremental impact of the new Labour Codes.

GROUP COMPANY PERFORMANCE HIGHLIGHTS

Our group companies continued to perform well.

·The asset management business closed the year ended 31stMarch 2026with assets under management of Rs. 77,457 crores (around 80% in equity) and consolidated profits from the asset management businesses were at Rs. 174 croresas against Rs. 154 crores in FY25.

·Royal Sundaram reported a Gross Written Premium (GWP) of Rs. 4,638crores as compared to Rs. 4,065 crores in the previous year, representing a growth of 14%. The company reported a profit after tax of Rs. 107 crores for FY26 as against a profit of Rs. 133 crores in FY25.

·Sundaram Home Finance disbursements grew by 4% to Rs. 6,805 crores in FY26. The profit for FY26 was Rs. 282 crores, as against Rs. 245 crores in FY25.Gross stage 3 assets as on 31stMarch 2026 stood at 1.11% as against 1.02% as on 31stMarch 2025. Net stage 3 assets as on 31stMarch 2026 closed at 0.51% as against 0.53% as on 31stMarch 2025.The Gross and Net NPA, as per RBI’s asset classification norms, are 1.21% and 0.59% respectivelyas against 1.33% and 0.77% as of 31stMarch 2025.

 

 

 

 

Engineered for demanding conditions, the MG MAJESTOR is equipped with an advanced 4WD system and segment-first triple differential locks, enabling superior traction and precise control across challenging terrains. Powered by a 2.0-litre twin-turbo diesel engine paired with an advanced drivetrain, the SUV delivers strong performance with controlled capability, ensuring confidence in real-world driving scenarios.

Driven by a customer-first philosophy, JSW MG Motor India offers the MG MAJESTOR with its Complete Peace of Mind programme, featuring a 5-5-5 ownership package comprising a 5-Year Unlimited Kilometre Warranty, 5-Year Roadside Assistance, and 5 Labour-Free Services*.

Commenting on the milestone, Biju Balendran, Deputy Managing Director, JSW MG Motor India, said, “The commencement of production of the MG MAJESTOR marks a significant step for us as we move closer to introducing a new benchmark in the premium SUV space. With the MAJESTOR, we are bringing together strong engineering, advanced capability and a commanding presence, aligned to the evolving expectations of customers. Built at our Halol facility with advanced processes and stringent quality systems, the MAJESTOR is engineered to deliver high standards of durability, performance and reliability. We are confident it will resonate strongly with customers looking for both capability and refinement in their next SUV.”

The Halol facility, known for its advanced manufacturing capabilities and stringent quality systems, continues to play a pivotal role in delivering world-class manufacturing standards. Equipped with precision engineering processes and robust quality control mechanisms, the plant ensures that every MG MAJESTOR is built to deliver high levels of durability, performance and reliability across demanding conditions.

Built on true SUV fundamentals, the MG MAJESTOR stands as MG’s most rugged and premium offering, designed to deliver commanding road presence along with exceptional real-world capability. With its strong proportions and bold design language, the SUV reflects a confident, upright stance while maintaining a refined and premium aesthetic suited for both urban environments and demanding terrains. Safety and intelligent technology remain integral to the MG MAJESTOR, with the SUV equipped with advanced driver assistance systems designed to enhance confidence, control and overall driving experience across diverse conditions.

Customers can pre-reserve the MG MAJESTOR at INR 41,000 on www.mgmotor.co.in, with early customers set to benefit from priority deliveries, exclusive previews and curated experiential drives.

Mumbai, May 25: CocoCart, India’s premium omnichannel destination for chocolates, gourmet gifting and global confectionery, is bringing four globally loved gourmet brands to India as part of its new premium F&B boutiques vertical. The portfolio includes Venchi from Italy, Neuhaus from Belgium, Café Bateel from UAE and Saudi Arabia, and Le Pain Quotidien from Belgium.

The announcement follows CocoCart’s recent India launch of Venchi, the iconic Italian chocolate and gelato brand founded in Turin in 1878. With this next phase, CocoCart is expanding its offering beyond premium chocolate retail into experience-led gourmet destinations across chocolate, artisanal gelato, luxury gifting, premium cafés and European-style bakery café formats.

CocoCart’s boutiques vertical has been planned around a ₹56.8 crore capex commitment, with a target of 18 stores across Mumbai and Delhi by the end of Year 1 and 32 stores across Mumbai, Delhi, Ahmedabad and Bengaluru by Year 3. The company is also investing ₹15 crore in a central commissary to support its café formats.

Speaking on the announcement, Karan Ahuja, Co-Founder, CocoCart, said, “At CocoCart, our vision has always been to bring the world’s most loved chocolate and gourmet experiences closer to Indian consumers. With Venchi, Neuhaus, Café Bateel and Le Pain Quotidien, we are creating a portfolio that speaks to how India now consumes premium F&B, not just as a product, but as an experience. Consumers today are looking for quality, provenance, discovery and moments that feel special, whether it is a chocolate gift, a gelato outing, a café meeting or an everyday indulgence.”

Venchi will bring its Italian chocolate and gelato experience to India through boutiques, kiosks and shop-in-shop formats. Known for its chocolate-making legacy since 1878, Venchi combines Italian craftsmanship, premium ingredients and a distinctive retail experience that appeals to consumers looking for indulgence with heritage.

Neuhaus, founded in Belgium in 1857, will add a luxury chocolate and gifting dimension to CocoCart’s India portfolio. The brand is expected to cater to India’s growing appetite for refined chocolate gifting, premium celebrations, corporate gifting and special occasion-led consumption.

Café Bateel will bring a premium gourmet café experience rooted in the Middle East’s date culture and luxury hospitality sensibility. Planned across flagship café and boutique formats, the brand will add a new layer to India’s premium café landscape.

Le Pain Quotidien, founded in Belgium in 1990, will introduce its European bakery and café format to Indian consumers through flagship café and kiosk formats. The brand is known globally for its warm café experience, artisanal food culture and community-led dining approach.

Karan added, “India’s premium F&B consumer is evolving very quickly. The same consumer who once discovered global gourmet brands while travelling is now looking for those experiences closer to home. Our goal is to create destinations that feel aspirational yet accessible, where premium chocolate, gelato, cafés and gifting come together in a way that is relevant to the Indian market.”

The move comes at a time when India’s premium chocolate, café, frozen dessert and gifting categories are seeing strong growth. CocoCart’s boutiques vertical addresses a combined Indian premium F&B and gifting opportunity estimated at ₹25,000 to ₹35,000 crore. Within this, the premium chocolate market is estimated at ₹10,000 to ₹12,500 crore, the premium café and coffee retail chain market at approximately ₹5,100 crore, the premium gelato and artisanal frozen desserts market at ₹2,500 to ₹3,500 crore, and the corporate and luxury gifting market at ₹14,000 to ₹15,000 crore.

For the F&B and hospitality industry, CocoCart’s expansion signals a larger shift in how premium dining, gifting and gourmet retail are converging in India. Consumers are no longer looking at chocolate, desserts or cafés as standalone categories. Increasingly, they are seeking destination-led experiences that combine product quality, ambience, gifting, discovery and global storytelling.

CocoCart’s boutiques portfolio will begin with Mumbai and Delhi, followed by Ahmedabad and Bengaluru. The company is also developing India-exclusive launches for key gifting occasions, including Raksha Bandhan 2026 and Diwali 2026, across select brands in the portfolio.

Sustainability is another key part of the portfolio. Venchi works with Rainforest Alliance certified cocoa and global renewable electricity commitments. Neuhaus uses 100% sustainably sourced cocoa and is moving toward full traceability. Café Bateel is known for its fully integrated organic date production, while Le Pain Quotidien follows global sustainability-linked sourcing and food standards.

With Venchi, Neuhaus, Café Bateel and Le Pain Quotidien, CocoCart is looking to create a new premium F&B experience for India, one that brings together chocolate, gelato, cafés, gifting and global hospitality under one Indian retail platform.