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Brainbees Solutions Limited Interim / Quarterly Report 2025

Feb 8, 2025

59158_rns_2025-02-08_4e19c437-94c4-4b06-9232-b30f01e2230a.pdf

Interim / Quarterly Report

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FC/SE/2024-25/78 February 08, 2025

National Stock Exchange of India Limited Exchange Plaza, C – 1, Block G, Bandra-Kurla Complex, Bandra (E), Mumbai-400051 Symbol: FIRSTCRY

BSE Limited

Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001 Scrip Code: 544226

Sub: Resubmission of Unaudited Financial Results for the Quarter and Nine Months Ended December 31, 2024

Ref: Outcome of Board Meeting submitted on February 08, 2025 bearing reference no. FC/SE/2024-25/73

Dear Sir/Madam,

Pursuant of our announcement dated February 8, 2025, regarding the outcome of the Board meeting held on February 8, 2025, wherein we had submitted the unaudited financial results for the quarter and nine months ended December 31, 2024 , along with the Auditors' Review Report, we wish to bring to your attention that an arithmetical error was identified in the computation of “Other Comprehensive Income” and “Total Other Comprehensive Loss for the Period/Year” for the quarter ended December 31, 2023 in the Consolidated Financial Results due to error in formula.

Consequently, the resultant calculations of EPS and attribution of following figures pertaining to “Loss for the period/year" and “Total comprehensive loss/(profit) for the period/year” have been rectified:

  • Owners of the Parent

  • Non-Controlling Interests

We also confirm that this does not have any impact on the unaudited financial results for the quarter and nine months ended December 31, 2024.

In compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements Regulations, 2015, we are hereby resubmitting the complete set of Unaudited Financial Results for the quarter and nine months ended December 31, 2024 .

We sincerely regret the inconvenience caused and request your esteemed office to kindly take this resubmission on record.

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 :[email protected] Website : www.firstcry.com

Thanking you,

For Brainbees Solutions Limited

NEELAM Digitally signed by NEELAM SITALDAS SITALDAS JETHANI JETHANI Date: 2025.02.08 21:04:46 +05'30'

Neelam Jethani Company Secretary & Compliance Officer ICSI Membership No.: A35831

Encl.: a/a

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 :[email protected] Website : www.firstcry.com

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

Independent Auditor’s Review Report on Consolidated Unaudited Quarterly Financial Results and 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. We have reviewed the accompanying statement of unaudited consolidated financial results (‘the Statement’) of Brainbees Solutions Limited (‘the Holding Company’), its subsidiaries (the Holding Company and its subsidiaries, its LLP, and its control trusts together referred to as ‘the Group’), (refer 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 (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (‘Listing Regulations’). Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended 31 December 2023 as reported in the Statement have been approved by the Holding Company’s Board of Directors but have not been subjected to audit or review.

  2. This Statement, which is the responsibility of the Holding Company’s management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (‘Ind AS 34’), prescribed under section 133 of the Companies Act, 2013 (‘the Act’), and other accounting 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.

  3. 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.

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

Chartered Accountants

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

  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 and ₹ 21,702.04 million, total net loss after tax of ₹ 509.99 million and ₹ 1,426.00 million, total comprehensive loss of ₹ 510.09 million and ₹ 1,426.11 million for the quarter and yearto-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 Company’s management has converted the financial results of such subsidiaries from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Holding Company’s 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 revenues of ₹ 23.99 million and ₹ 80.14 million, net profit /(loss) after tax of ₹ 0.40 million and ₹ (3.56) million, total comprehensive income/(loss) of ₹ 0.08 million and ₹ (3.05) for the quarter and year-to-date period ended 31 December 2024 respectively as considered in the Statement, and have been furnished to us by the Holding Company’s management. Our conclusion on the Statement, in 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.

(This space has been left blank intentionally)

Page 2 of 4

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

Shashi Tadwalkar Partner Membership No. 101797

UDIN: 25101797BMMAJL1133

Place: Pune Date: 08 February 2025

Page 3 of 4

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

Page 4 of 4

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

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 ‘BabyHug’ brand; and (ii) setting up a
warehouse, in India
Of which:
a) Setting up new modern stores under the ‘BabyHug’ brand 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, FirstCry Trading for overseas expansion by: (i) setting up new modern stores;
up warehouse(s), in KSA		 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

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

(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.

Transfer prices between operating segments are on an arm’s length basis in a manner similar to transactions with third parties.

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) Place: Pune Supam Maheshwari Date: Febraury 08, 2025 Managing Director & CEO DIN : 01730685

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

Independent Auditor’s Review Report on Standalone Unaudited Quarterly Financial Results and 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. We have reviewed the accompanying statement of standalone unaudited financial results (‘the Statement’) of Brainbees Solutions Limited (‘the Company’) for the quarter ended 31 December 2024 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 Disclosure Requirements) Regulations, 2015 (as amended) (‘Listing Regulations’).

  2. The Statement, which is the responsibility of the Company’s management and approved by the Company’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (‘Ind AS 34’), prescribed under section 133 of the Companies Act, 2013 (‘the Act’), and other accounting 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.

  3. 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.

Chartered Accountants

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

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

  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.

For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013

Shashi Tadwalkar Partner Membership No. 101797

UDIN: 25101797BMMAJK2366

Place: Pune Date: 08 February 2025

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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

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