Brainbees Solutions Expands Stake in Candes Technology

Brainbees Solutions, the parent company of mother-and-baby care retailer FirstCry, has made headlines with its recent move to increase its stake in Candes Technology. This acquisition by its subsidiary Globalbees Brands involved purchasing an additional 30% from existing shareholders, executed as a cash transaction at Rs 37,250 per share. This development has raised Globalbees’ shareholding in Candes from 62% to an impressive 92%.

Overview of Candes Technology

Founded in January 2021, Candes Technology is dedicated to manufacturing and selling smart electrical products, including fans, geysers, heaters, and various kitchen appliances, operating under the brand name ‘Candes’. The company has focused on providing affordable consumer electronics to its customers.

Impacts of the Acquisition

The acquisition, finalised on March 31, 2026, solidifies Globalbees’ dominance in the electronics segment. This strategic move is expected to enhance the company’s competitiveness within the market.

Financial Performance of Brainbees Solutions

Brainbees Solutions has reported a notable 12% increase in revenue year-on-year for the quarter ending December 2025. However, the company’s losses have risen significantly, increasing by 2.5 times. FirstCry’s operational revenue climbed to Rs 2,424 crore in Q3 FY26, compared to Rs 2,172 crore in Q3 FY25, as per its unaudited financial records submitted to the National Stock Exchange.

Expenditure Breakdown

The cost of procurement has become a significant concern, representing 64% of total expenses, which increased by 15% to Rs 1,580 crore from Rs 1,369 crore a year earlier. Additionally, employee benefit expenses reached Rs 197 crore in Q3 FY26, which included Rs 57 crore attributed to employee stock ownership plan (ESOP) costs.

Losses Overview

Losses for Brainbees widened to Rs 38 crore in Q3 FY26, up from Rs 15 crore in Q3 FY25. Over the nine months ending December 2025, losses remained relatively stable at Rs 154 crore, compared to Rs 153 crore during the same period the previous year.