Brainbees Solutions Limited — Interim / Quarterly Report 2025

Feb 8, 2025

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FC/SE/2024-25/79 February 08, 2025

National Stock Exchange of India Limited BSE Limited Exchange Plaza, C – 1, Block G, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (E), Dalal Street, Mumbai-400051 Mumbai-400001 Symbol: FIRSTCRY Scrip Code: 544226

Sub: Integrated Filling (Financials) for the quarter and nine months ended December 31, 2024.

Dear Sir/Ma’am,

Pursuant to SEBI Circular no. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024, read with BSE Circular No. 20250102-4 dated January 02, 2025 and NSE Circular No. NSE/CML/2025/02 dated January 2, 2025, please see attached herewith Integrated Filing (Financial) for the quarter and nine months ended December 31, 2024.

The above information will also be hosted on the website of the Company i.e. www.firstcry.com

We request you to kindly take the aforesaid information on record.

Thanking you,

Yours sincerely,

For Brainbees Solutions Limited

NEELAM Digitally signed by NEELAM SITALDAS SITALDAS JETHANI JETHANI Date: 2025.02.08 21:56:16 +05'30' Neelam Jethani Company Secretary & Compliance Officer ICSI Membership No.: A35831

Brainbees Solutions Limited CIN: L51100PN2010PLC136340

Corporate/Registered Office :- Rajashree Business Park, Plot No. 114, Survey No. 338, Tadiwala Road, Nr. Sohrab Hall, Pune – 411001 Contact: +91-8482989157 Email Id :legal@firstcry.com Website : www.firstcry.com

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A. Financial Results

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Walker Chandiok & Co LLP

3rd floor, Unit No. 310 to 312, West Wing, Nyati Unitree Nagar Road, Yerwada, Pune - 411 006 Maharashtra, India T +91 20 6744 8888 F +91 20 6744 8899

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Year to Date Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Brainbees Solutions Limited

1. Company and its subsidiaries, its LLP, and its control trusts to Annexure 1 for the list of subsidiaries included in the Statement) for the quarter ended 31 December 2024 and the consolidated year to date results for the period 01 April 2024 to 31 December 2024, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI corresponding quarter

ended 31 December 2023 as reported in the Statement have been approved by the Holding

1. the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standar principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.

2. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the SEBI Circular CIR/CFD/CMD1/44/2019 dated 29 March 2019 issued by the SEBI under Regulation 33 (8) of the Listing Regulation, to the extent applicable.

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Chartered Accountants Offices in Ahmedabad, Bengaluru, Chandigarh, Chennai, Dehradun, Goa, Gurugram, Hyderabad, Indore, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune

Walker Chandiok & Co LLP is registered with limited liability with identification number AAC-2085 and has its registered office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001, India

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1. Based on our review conducted and procedures performed as stated in paragraph 3 above and upon consideration of the review reports of other auditors referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement.

2. We did not review the interim financial results of a subsidiary, 15 stepdown subsidiaries and a controlled trust included in the Statement, whose financial information reflect(s) total revenues of 7,984.97 million ,426.00 -

million, total to-date ended on 31 December 2024, respectively, as considered in the financial results of the entities included in the Group. These interim financial results have been reviewed by other auditors whose review reports have been furnished to us by the management, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the review reports of such other auditors and the procedures performed by us as stated in paragraph 3 above.

Further, of these subsidiaries, a subsidiary and three step-down subsidiaries are located outside India, whose interim financial results have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by other auditors under generally accepted auditing standard applicable in their respective countries. The Holding principles generally accepted in their respective countries to accounting principles generally accepted in India. We management. Our conclusion, in so far as it relates to the balances and affairs of these subsidiaries is based on the review report of other auditors and the conversion adjustments prepared by the management of the Holding Company and reviewed by us.

Our conclusion is not modified in respect of these matters with respect to our reliance on the work done by and the reports of the other auditors.

1. The Statement includes the interim financial results of 3 subsidiaries, a stepdown subsidiary and a controlled trust which have not been reviewed by their auditors, whose interim financial results reflects total d year-to-date period ended 31 December 2024 respectively as considered in the Statement, and have so far as it relates to the amounts and disclosures included in respect of these subsidiaries are based solely on such unaudited financial results. According to the information and explanations given to us by the management, these interim financial results are not material to the Group.

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Our conclusion is not modified in respect of this matter with respect to our reliance on the financial results certified by the Board of Directors.

For Walker Chandiok & Co LLP

Chartered Accountants Firm Registration No: 001076N/N500013

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Shashi Tadwalkar

Partner Membership No. 101797

UDIN: 25101797BMMAJL1133

Place: Pune Date: 08 February 2025

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Annexure 1 List of entities included in the Statement

Sr. No.	Name of Entity	Relationship
1	Brainbees Solutions Limited (Formerly known as Brainbees Solutions Private Limited) (Brainbees)	Holding Company
2	Intellibees Solutions Private Limited	Wholly owned subsidiary of Brainbees
3	Firstcry Management DWC LLC	Wholly owned subsidiary of Brainbees
4	Shenzhen Starbees Services Ltd	Wholly owned subsidiary of Brainbees
5	Joybees Private Limited	Wholly owned subsidiary of Brainbees
6	Digital Age Retail Private Limited	Wholly owned subsidiary of Brainbees
7	Swara Baby Products Private Limited (Swara Baby)	Subsidiary of Brainbees
8	Firmroots Private Limited	Subsidiary of Brainbees
9	Solis Hygiene Private Limited	Subsidiary of Brainbees
10	Globalbees Brands Private Limited (Globalbees)	Subsidiary of Brainbees
11	Edubees Educational Trust	Controlled trust of Brainbees
12	Brainbees ESOP Trust	Controlled trust of Brainbees
13	Firstcry Retail DWC LLC	Wholly owned subsidiary of Firstcry Management DWC LLC
14	Firstcry Trading Company	Wholly owned subsidiary of Firstcry Management DWC LLC
15	Firstcry General Trading LLC	Wholly owned subsidiary of Firstcry Retail DWC LLC
16	Merhaki Foods and Nutrition Private Limited	Subsidiary of Globalbees
17	Maxinique Solutions Private Limited	Subsidiary of Globalbees
18	Better and Brighter Homecare Private Limited	Subsidiary of Globalbees
19	Eyezen Technologies Private Limited	Subsidiary of Globalbees
20	Cloud Lifestyle Private Limited	Subsidiary of Globalbees
21	HealthyHey Foods LLP	LLP of Globalbees
22	Butternut Ventures Private Limited	Subsidiary of Globalbees
23	Dynamic IT Solution Private Limited	Subsidiary of Globalbees
24	Kubermart Private Limited	Subsidiary of Globalbees
25	Mush Textiles Private Limited	Subsidiary of Globalbees
26	Globalbees Brands DWC LLC	Subsidiary of Globalbees
27	HS Fitness Private Limited	Subsidiary of Globalbees
28	DF Pharmacy Limited	Subsidiary of Globalbees
29	Candes Technology Private Limited	Subsidiary of Globalbees
30	Solarista Renewables Private Limited	Subsidiary of Globalbees
31	Encasa Homes Private Limited	Subsidiary of Globalbees
32	Frootle India Private Limited	Subsidiary of Globalbees
33	Prayosha Expo Private Limited	Subsidiary of Globalbees
34	Wellspire India Private Limited	Subsidiary of Globalbees
35	Plantex E-Commerce Private Limited	Subsidiary of Globalbees
36	JW Brands Private Limited	Subsidiary of Globalbees
37	Kitchenopedia Appliances Private Limited	Subsidiary of Globalbees
38	Swara Hygiene Private Limited	Wholly owned subsidiary of Swara Baby

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Brainbees Solutions Limited

(formerly known as Brainbees Solutions Private Limited) CIN: L51100PN2010PLC136340

Registered Office: Rajashree Business Park, Survey No. 338, Next to Sohrabh Hall, Tadiwala Road, Pune 411 001, Maharashtra, India

Unaudited consolidated financial results for the quarter and nine months ended December 31, 2024

					(INR	in million except earnings per share)	in million except earnings per share)
			Quarter ended		Nine months ended		Year ended
		December 31,	September 30,	December 31,	December 31,	December 31,	March 31,
Particulars		2024	2024	2023	2024	2023	2024
		Unaudited	Unaudited	Unaudited	Unaudited	Audited	Audited
				Refer note (ii)		Refer note (ii)
Income
Revenue from operations		21,723.09	19,049.17	19,001.90	57,292.99	48,140.03	64,808.56
Other income		442.78	309.34	353.28	1,020.09	760.17	942.25
	Total Income	22,165.87	19,358.51	19,355.18	58,313.08	48,900.20	65,750.81
Expenses
Cost of material consumed		1,928.31	1,791.62	1,561.14	5,088.83	4,180.65	5,574.65
Purchase of Stock-in-trade		12,584.18	12,891.49	10,828.35	34,328.90	28,711.04	38,898.87
Changes in inventories of stock-in-trade, finished goods and
work in progress		(820.20)	(2,744.24)	51.22	(3,495.34)	(1,810.04)	(2,841.56)
Employee benefits expense
(i) Employee benefits expense		1,489.47	1,443.08	1,319.29	4,271.75	3,704.06	5,084.21
(ii) Employee share based payment expense		283.28	207.76	412.59	719.45	1,338.38	1,780.58
Other expenses		5,179.19	4,889.09	4,243.09	14,238.49	11,642.21	15,606.90
	Total expenses	20,644.23	18,478.80	18,415.68	55,152.08	47,766.30	64,103.65
Profit before finance costs, depreciation, amortisation, exceptional items and tax expense		1,521.64	879.71	939.50	3,161.00	1,133.90	1,647.16
Finance cost		421.78	405.40	407.03	1,206.91	1,148.84	1,153.63
Depreciation and amortisation expense		1,035.71	979.65	958.59	2,970.29	2,682.15	3,708.73
Profit/(Loss) before exceptional items and tax expense		64.15	(505.34)	(426.12)	(1,016.20)	(2,697.09)	(3,215.20)
Exceptional items (net) (Refer note (v))		4.68	(10.20)	-	(128.16)	-	-
Profit/(Loss) before tax		68.83	(515.54)	(426.12)	(1,144.36)	(2,697.09)	(3,215.20)
Tax expense
Current tax		(112.20)	(147.48)	(176.64)	(337.80)	(319.30)	(438.05)
Deferred tax		(104.01)	34.48	118.62	(50.62)	233.94	438.18
	Total tax expense	(216.21)	(113.00)	(58.02)	(388.42)	(85.36)	0.13
Loss for the period/year		(147.38)	(628.54)	(484.14)	(1,532.78)	(2,782.45)	(3,215.07)
Other comprehensive income
Items that will not be reclassified to Statement of Profit or
Loss
Re-measurement of post-employment benefit
obligations		(0.10)	(2.16)	0.89	0.37	2.23	3.09
Income tax relating to items that will not be reclassified to
Statement of Profit or Loss
Income tax relating to re-measurement of post-
employment benefit obligations		0.08	0.62	(0.06)	0.06	(0.53)	(0.56)
Items that will be reclassified to Statement of Profit or
Loss
Gains and (losses) arising from translating the financial
statements of foreign operations		3.56	(2.59)	9.28	6.04	(2.94)	(10.96)
Income tax effect relating to items that will be reclassified
to Statement of Profit or Loss
Income tax effect of a foreign operation		(2.23)	(0.42)	(0.76)	(2.85)	-	1.83
Total other comprehensive (loss)/income		1.31	(4.55)	9.35	3.62	(1.24)	(6.60)
Total comprehensive loss for the period/year		(146.07)	(633.09)	(474.79)	(1,529.16)	(2,783.69)	(3,221.67)
Loss for the period/year
Attributable to:
Owners of the parent		(77.93)	(502.25)	(315.92)	(1,147.25)	(2,225.32)	(2,742.77)
Non-controlling interests		(69.45)	(126.29)	(168.22)	(385.53)	(557.13)	(472.30)
		(147.38)	(628.54)	(484.14)	(1,532.78)	(2,782.45)	(3,215.07)
Total other comprehensive income/(loss)
Attributable to:
Owners of the parent		1.25	(4.69)	8.16	3.38	(2.19)	(8.02)
Non-controlling interests		0.06	0.14	1.19	0.24	0.95	1.42
		1.31	(4.55)	9.35	3.62	(1.24)	(6.60)
Total comprehensive loss/(profit) for the period/year
Attributable to:
Owners of the parent		(76.68)	(506.94)	(307.76)	(1,143.87)	(2,227.51)	(2,750.79)
Non-controlling interests		(69.39)	(126.15)	(167.03)	(385.29)	(556.18)	(470.88)
		(146.07)	(633.09)	(474.79)	(1,529.16)	(2,783.69)	(3,221.67)
**Earning per equity share (face value **	of INR 2 each) (not
annualised)
Basis earning per share (INR)		(0.16)	(1.09)	(0.71)	(2.49)	(5.03)	(6.20)
Diluted earning per share (INR)		(0.16)	(1.09)	(0.71)	(2.49)	(5.03)	(6.20)
Paid Up Equity Share Capital		957.42	957.42	814.71	957.42	814.71	814.71
Equity Component of Compulsorily Convertible Preference Shares		-	-	70.37	-	70.37	70.37
Other Equity							30,822.28

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Brainbees Solutions Limited

(formerly known as Brainbees Solutions Private Limited)

Notes to unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024

• (i) In terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) 2015, as amended, these standalone and consolidated financial results ("financial results") for the quarter and nine months ended December 31, 2024 have been recommended by the Audit Committee and have been approved by the Board of Directors of Brainbees Solutions Limited ("Brainbees" or the "Company") at their respective meetings held on February 08, 2025 and have been subjected to limited review by statutory auditors of the Company.

• (ii) The results for the quarter ended December 31, 2023 are extracted as balancing figures between the audited interim financial statements for the nine months ended December 31, 2023 and unaudited interim financial statements for half year ended September 30, 2023 (The Company was not mandatorily required to prepare and publish quarterly results up to the quarter ended March 31, 2024. Accordingly the figures for the half year ended September 30, 2023 were not subjected to limited review by statutory auditors of the Company.). The audit of the interim financial statements for the nine months ended December 31, 2023 was conducted for the purpose of the Initial Public Offering ("IPO").

• (iii) These unaudited standalone and consolidated financial results are prepared in accordance with Indian Accounting Standards ("referred to as Ind AS") as prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time and the provisions of the Companies Act 2013.

• (iv) The company has consolidated the financial results of its subsidiaires and other entities on which company exercises control as per the applicable Indian Accounting Standards (Ind AS).

• (v) During the nine months ended December 31, 2024, fire at warehouses of the Group in Hooghly, West Bengal and Bhiwandi, Maharashtra destroyed the entire inventory and property, plant and equipment therein. The Group has filed claims under the insurance policies, which adequately cover the losses incurred. Subsequent to nine monthe ended December 31, 2024, entire claim has been settled by the insurance company. The company has recorded for the required losses and no further adjustment is required in these results.

• (vi) On April 16, 2024, heavy rains led to widespread flooding in Dubai and Sharjah in the United Arab Emirates ("UAE"). The floods caused significant structural damage and disruption, affecting numerous facilities and businesses across the UAE. Our operations were also impacted during this period and returned to normalcy approximately in two weeks.

(vii) Financial results of Brainbees Solutions Limited (Standalone)·

		Particulars		Quarter ended	Quarter ended		Nine months ended	Nine months ended	Year ended
			December 31,	September 30,		December 31,	December 31,	December 31,	March 31,
			2024		2024	2023	2024	2023	2024
			Unaudited	Unaudited		Unaudited	Unaudited	Audited	Audited
	Revenue from operations		7,106.03		5,963.45	6,356.98	18,548.23	16,233.70	21,632.10
	Profit/(Loss) before tax		536.23		67.26	36.74	601.81	(609.02)	(834.06)
	Profit/(Loss) for the period/year		377.98		68.97	115.81	449.32	(451.44)	(621.94)
(viii)	The Company received net proceeds of INR 16,017.35 million from the issuance of 35,834,699 shares through its Initial Public						Offering ("IPO"). The table below provides details
	of the utilization of these funds in accordance with the objectives outlined in the Offer as of December 31, 2024
Sr.							Amount	Amount	Amount
No.							Allocated as	utilized till	unutilised as at
			Particulars				stated in the	December 31,	December 31,
							offer	2024	2024
							document
I.	Expenditure by our Company for: (i) setting up new modern stores under the warehouse, in India			brand; and (ii) setting up a
	Of which:
a)							939.00	44.08	894.92
b)	Setting up a warehouse						142.00	93.56	48.44
II.	Expenditure for lease payments for our existing identified modern stores owned and operated by our Company, in India						931.00	128.76	802.24
	Investment in our Subsidiary, Digital Age Retail Private Limited for (i) setting up new modern stores under the FirstCry brand
III.	and other home brands of our Company; and		(ii) lease payments for our existing identified		modern stores owned and
	controlled by Digital Age, in India
	Of which:
a)	Setting up new modern stores	under the FirstCry brand and other home brands of our Company					1,690.00	159.62	1,530.38
b)	Lease payments for our existing identified modern stores owned and controlled by Digital			Age in	India		1,306.00	191.85	1,114.15
IV.	Investment in our Subsidiary, up warehouse(s), in KSA	FirstCry Trading for overseas expansion by: (i) setting up new modern stores;				and (ii) setting
	Of which:
a)	Setting up new modern stores						726.00	-	726.00
b)	Setting up warehouse(s)						830.00	-	830.00
V.	Investment in our Subsidiary, Globalbees Brands		towards acquisition of additional stake in our step-down Subsidiaries				1,690.00	848.85	841.15
VI.	Sales and marketing initiatives						2,000.00	451.92	1,548.08
VII.	Technology and data science cost including cloud and server hosting related costs						576.00	86.35	489.65
VIII.	Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes						5,187.35	1,221.11	3,966.24
	Total Net Proceeds						16,017.35	3,226.10	12,791.25

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Brainbees Solutions Limited

(formerly known as Brainbees Solutions Private Limited)

Notes to unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024

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(ix) Consolidated Segment Information:

The Board of Directors is the Chief Operating Decision Maker (CODM) and monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit or loss and is measured consistently with profit or loss in the consolidated financial statements.

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For management purposes, the Group is organised into business units based on its products and services and has following reportable segments, as follows: i) India multi-channel - This segment includes business of manufacturing, buying, selling, advertising, promoting baby and kids products in India. ii) International segment - This includes business of buying, selling, advertising, promoting baby and kids products outside India, which primarily includes United Arab Emirates and Kingdom of Saudi Arabia.

iii) Globalbees segment - This is a direct-to-consumer (D2C) venture that aggregates and invests in e-commerce brands and helps the brands scale and transform their digital impression.

iv) Others - This includes other businesses which are not material to the Group.

Particulars		Quarter ended		Nine months ended	Nine months ended	Year ended
	December 31,	September 30,	December 31,	December 31,	December 31,	March 31,
	2024	2024	2023	2024	2023	2024
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Revenue from Operations
India multi-channel	15,105.95	12,804.24	13,128.79	39,411.47	33,804.85	45,794.84
International	2,613.75	2,081.05	2,308.18	6,531.74	5,690.56	7,537.16
Globalbees	4,222.53	4,325.52	3,744.44	11,792.58	9,107.14	12,093.46
Others	105.12	90.84	79.11	316.01	234.54	333.55
Inter Company Adjustments	(324.26)	(252.48)	(258.62)	(758.81)	(697.06)	(950.45)
Total	21,723.09	19,049.17	19,001.90	57,292.99	48,140.03	64,808.56
Segment Results before depreciation and amortisation expense
India multi-channel	1,688.62	1,103.76	1,407.83	3,746.58	2,975.52	4,039.82
International	(395.36)	(393.57)	(369.69)	(1,093.59)	(1,139.75)	(1,395.96)
Globalbees	60.16	84.61	23.09	191.03	32.20	23.08
Others	23.88	18.93	19.25	73.10	42.83	58.41
Inter Company Adjustments	8.13	(12.33)	(16.55)	12.81	(4.08)	19.14
Total	1,385.43	801.40	1,063.93	2,929.93	1,906.72	2,744.49
Segment Results
India multi-channel	1,008.05	461.23	785.62	1,798.90	1,289.72	1,666.18
International	(442.68)	(439.29)	(412.92)	(1,228.36)	(1,254.04)	(1,553.77)
Globalbees	(200.84)	(159.54)	(222.45)	(556.42)	(707.11)	(963.77)
Others	21.45	16.06	16.53	65.87	34.76	47.03
Inter Company Adjustments	(36.26)	(56.72)	(61.44)	(120.35)	(138.76)	(159.91)
Total	349.72	(178.26)	105.34	(40.36)	(775.43)	(964.24)
Add / (Less) :
Finance cost	(421.78)	(405.40)	(407.03)	(1,206.91)	(1,148.84)	(1,153.63)
Employee share based payment expense	(283.28)	(207.76)	(412.59)	(719.45)	(1,338.38)	(1,780.58)
Other income	442.78	309.34	353.28	1,020.09	760.17	942.25
Salaries, wages, bonus and other allowances as per Ind-AS 103	(23.29)	(23.26)	(65.12)	(69.57)	(194.61)	(259.00)
Profit/(Loss) before exceptional items and tax expense	64.15	(505.34)	(426.12)	(1,016.20)	(2,697.09)	(3,215.20)

These quarterty financial results are available on Stock exchange websites, www.nseindia.com and www.bseindia.com, and on the Company's website, www.firstcry.com.

for and on behalf of the Board of Directors Brainbees Solutions Limited (formerly known as Brainbees Solutions Private Limited) Supam Maheshwari Managing Director & CEO DIN : 01730685

Place: Pune Date: Febraury 08, 2025

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Walker Chandiok & Co LLP

3rd floor, Unit No. 310 to 312, West Wing, Nyati Unitree Nagar Road, Yerwada, Pune - 411 006 Maharashtra, India T +91 20 6744 8888 F +91 20 6744 8899

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to Date Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Brainbees Solutions Limited

1. and the year to date results for the period 01 April 2024 to 31 December 2024, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and

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1. measurement principles laid down in Indian Accounting Standard 34, Interim Fin principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.

2. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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Chartered Accountants Offices in Ahmedabad, Bengaluru, Chandigarh, Chennai, Dehradun, Goa, Gurugram, Hyderabad, Indore, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune

Walker Chandiok & Co LLP is registered with limited liability with identification number AAC-2085 and has its registered office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001, India

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1. Based on our review conducted as above nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement.

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For Walker Chandiok & Co LLP

Chartered Accountants Firm Registration No: 001076N/N500013

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Shashi Tadwalkar Partner Membership No. 101797

UDIN: 25101797BMMAJK2366

Place: Pune Date: 08 February 2025

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Page 2 of 2

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Brainbees Solutions Limited

(formerly known as Brainbees Solutions Private Limited) CIN: L51100PN2010PLC136340

Registered Office: Rajashree Business Park, Survey No. 338, Next to Sohrabh Hall, Tadiwala Road, Pune 411 001, Maharashtra, India

Unaudited standalone financial results for the quarter and nine months ended December 31, 2024

						(INR	in million except earnings per share)	in million except earnings per share)
				Quarter ended		Nine months ended		Year ended
			December 31,	September 30,	December 31,	December 31,	December 31,	March 31,
Particulars			2024	2024	2023	2024	2023	2024
			Unaudited	Unaudited	Unaudited	Unaudited	Audited	Audited
					Refer note (ii)		Refer note (ii)
Income
Revenue from operations			7,106.03	5,963.45	6,356.98	18,548.23	16,233.70	21,632.10
Other income			521.91	358.06	290.30	1,180.89	789.11	1,032.48
		Total Income	7,627.94	6,321.51	6,647.28	19,729.12	17,022.81	22,664.58
Expenses
Purchase of Stock-in-trade			4,783.72	5,135.42	3,804.40	13,689.23	11,049.81	14,570.92
Changes in inventories of stock-in-trade, finished goods and
work in progress			(249.20)	(1,216.66)	401.87	(1,713.51)	(402.88)	(488.05)
Employee benefits expense
(i) Employee benefits expense			647.48	671.07	565.36	1,922.31	1,688.11	2,286.66
(ii) Employee share based payment expense			367.22	190.02	387.36	749.14	1,177.99	1,563.44
Other expenses			1,064.47	1,018.67	931.91	3,077.90	2,642.85	3,546.57
	Total expenses		6,613.69	5,798.52	6,090.90	17,725.07	16,155.88	21,479.54
Profit before finance costs, depreciation, amortisation and
tax expense			1,014.25	522.99	556.38	2,004.05	866.93	1,185.04
Finance cost			133.87	124.43	131.18	387.43	379.16	518.91
Depreciation and amortisation expense			348.94	335.52	388.46	1,023.82	1,096.79	1,500.19
Profit/(loss) before exceptional items	and tax expense		531.44	63.04	36.74	592.80	(609.02)	(834.06)
Exceptional items (net) (Refer note (v))			4.79	4.22	-	9.01	-	-
Profit/(loss) before tax			536.23	67.26	36.74	601.81	(609.02)	(834.06)
Tax expense
Current tax			-	-	-			-
Deferred tax			(158.25)	1.71	79.07	(152.49)	157.58	212.12
	Total tax expense		(158.25)	1.71	79.07	(152.49)	157.58	212.12
Profit/(loss) for the period/year			377.98	68.97	115.81	449.32	(451.44)	(621.94)
Other comprehensive income
Items that will not be reclassified to Statement of Profit or
Loss
Re-measurement of post-employment benefit obligations			(0.15)	(2.44)	(1.99)	(0.15)	(0.37)	(0.20)
Income tax relating to items that will not be reclassified to
Statement of Profit or Loss
Income tax relating to re-measurement of post-
employment benefit obligations			0.04	0.61	0.50	0.04	0.09	0.05
Total other comprehensive (loss)/income			(0.11)	(1.83)	(1.49)	(0.11)	(0.28)	(0.15)
Total comprehensive income/(loss) for the period/year			377.87	67.14	114.32	449.21	(451.72)	(622.09)
**Earning per equity share (face value **	**of **	INR 2 each) (not
annualised)
Basis earning per share (INR)			0.73	0.14	0.25	0.89	(0.96)	(1.32)
Diluted earning per share (INR)			0.72	0.14	0.25	0.89	(0.96)	(1.32)
Paid Up Equity Share Capital			1,038.36	1,038.36	866.52	1,038.36	866.52	896.32
Equity Component of Compulsorily Convertible Preference Shares			-	-	70.37	-	70.37	70.37
Other Equity								41,180.67

B. STATEMENT ON DEVIATION OR VARIATION FOR PROCEEDS OF PUBLIC ISSUE

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STATEMENT ON DEVIATION OR VARIATION FOR PROCEEDS OF PUBLIC ISSUE:

STATEMENT ON DEVIATION OR VARIATION FOR PROCEEDS OF PUBLIC ISSUE:	STATEMENT ON DEVIATION OR VARIATION FOR PROCEEDS OF PUBLIC ISSUE:	STATEMENT ON DEVIATION OR VARIATION FOR PROCEEDS OF PUBLIC ISSUE:	STATEMENT ON DEVIATION OR VARIATION FOR PROCEEDS OF PUBLIC ISSUE:	STATEMENT ON DEVIATION OR VARIATION FOR PROCEEDS OF PUBLIC ISSUE:	STATEMENT ON DEVIATION OR VARIATION FOR PROCEEDS OF PUBLIC ISSUE:
Particulars
Name of listed entity Brainbees Solutions Limited
Mode of Fund Raising Public Issue Initial Public Offer (IPO)
Date of RaisingFunds August 10,2024#
Amount Raised(Rs. in Crore) 1,601.74*
Report filed forQuarter ended 31st December 2024
MonitoringAgency Applicable
MonitoringAgencyName,if applicable ICRA Limited
Is there a Deviation/Variation in use of funds raised No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders Not Applicable
If Yes,Date of shareholder Approval Not Applicable
Explanation for the Deviation/Variation Not Applicable
Comments of the Audit Committee after review Nil
Comments of the auditors,if any Nil
Objects for which funds have been raised and where there has been a deviation, in the following table
Original Object*	Modified Object, if any	Original Allocation (Rs. Crore)	Modified allocation, if any	Funds Utilised (Rs. Crore)	Amount of Deviation/Variation for the quarter according to applicable object		Remarks if any
Setting up new modern stores under the Brand	Not Applicable	93.900	Not Applicable	4.408	No Deviation		-
Setting up a warehouse	Not Applicable	14.200	Not Applicable	9.356	No Deviation		-
Expenditure for lease payments for existing identified modern stores owned and operated by Company, in India	Not Applicable	93.100	Not Applicable	12.876	No Deviation		-

Brainbees Solutions Limited CIN: L51100PN2010PLC136340

Corporate/Registered Office :- Rajashree Business Park, Plot No. 114, Survey No. 338, Tadiwala Road, Nr. Sohrab Hall, Pune 411001 Contact: +91-8482989157 Email Id :legal@firstcry.com Website : www.firstcry.com

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Investment in Not 169.000 Not 15.962 No Deviation -
subsidiary, Applicable Applicable
Digital Age for
setting up new
modern stores
under the
Firstcry brand
and other home
brands of the
Company.
Investment in Not 130.600 Not 19.185 No Deviation -
subsidiary, Applicable Applicable
Digital Age for
Lease payments
for existing
identified
modern stores
owned and
controlled by
Digital Age in
India
Investment in Not 72.600 Not _ No Deviation -
Subsidiary, Applicable Applicable
Firstcry Trading
for overseas
expansion by
setting up new
modern stores
Investment in Not 83.000 Not _ No Deviation -
Subsidiary, Applicable Applicable
Firstcry Trading
for overseas
expansion by
setting up
warehouse(s)
Investment in Not 169.000 Not 84.885 No Deviation -
subsidiary, Applicable Applicable
Globalbees
Brands towards
acquisition of
additional stake
in step-down
subsidiaries
Sale and Not 200.000 Not 45.192 No Deviation -
marketing Applicable Applicable
initiatives
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Brainbees Solutions Limited CIN: L51100PN2010PLC136340

Corporate/Registered Office :- Rajashree Business Park, Plot No. 114, Survey No. 338, Tadiwala Road, Nr. Sohrab Hall, Pune 411001 Contact: +91-8482989157 Email Id :legal@firstcry.com Website : www.firstcry.com

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Technology and Not 57.600 Not 8.635 No Deviation -
data science Applicable Applicable
cost including
cloud and
server hosting
related costs.
Funding Not 518.735 Not 122.111 No Deviation -
inorganic Applicable Applicable
growth through
acquisition and
other strategic
initiatives and
general
corporate
purpose
Deviation or variation could mean:
(a) Deviation in the objects or purposes for which the funds have been raised or
(b) Deviation in the amount of funds actually utilized as against what was originally disclosed or
(c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc.
Notes:
#Date of Allotment
The amount of original allocation represents the amount raised through IPO (net of offer expenses) as mentioned
in the Prospectus dated August 08, 2024.
For Brainbees Solutions Limited
Neelam Jethani
Company Secretary and Compliance Officer
ICSI Membership No.: A35831
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Brainbees Solutions Limited CIN: L51100PN2010PLC136340

Corporate/Registered Office :- Rajashree Business Park, Plot No. 114, Survey No. 338, Tadiwala Road, Nr. Sohrab Hall, Pune 411001 Contact: +91-8482989157 Email Id :legal@firstcry.com Website : www.firstcry.com

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C. FORMAT FOR DISCLOSING OUTSTANDING DEFAULT ON LOANS AND DEBT SECURITIES

• Not Applicable

D. FORMAT FOR DISCLOSURE OF RELATED PARTY TRANSACTIONS (applicable only for halfyearly filings i.e., 2nd and 4th quarter) - Not Applicable for this quarter.

E. STATEMENT ON IMPACT OF AUDIT QUALIFICATIONS (FOR AUDIT REPORT WITH MODIFIED OPINION) SUBMITTED ALONG-WITH ANNUAL AUDITED FINANCIAL RESULTS (Standalone and Consolidated separately) (applicable only for Annual Filing i.e., 4th quarter) - Not Applicable for this quarter.

Brainbees Solutions Limited CIN: L51100PN2010PLC136340 Corporate/Registered Office :- Rajashree Business Park, Plot No. 114, Survey No. 338, Tadiwala Road, Nr. Sohrab Hall, Pune – 411001 Contact: +91-8482989157 Email Id :legal@firstcry.com Website : www.firstcry.com