The Indian equity benchmark indices traded in the green on Monday, with the Nifty reclaiming the 25,500 level and the Sensex holding above 82,800. However, the broader market lagged, as the Nifty Midcap 100 and Nifty Smallcap 100 indices traded with a negative bias.
Against this backdrop, Brainbees Solutions, the parent of FirstCry, came into sharp focus. The stock slipped nearly 7% on Monday, February 16, 2026, after the company reported its Q3FY26 results. FirstCry also touched a fresh 52-week low during the session following the earnings announcement.
As per the company’s unaudited financial statements available on the National Stock Exchange, revenue from operations rose 12% year on year to ₹2,424 crore in Q3FY26, compared with ₹2,172 crore in Q3FY25. The concern, however, was the sharper increase in losses. Net loss widened to ₹38.4 crore in Q3FY26 from ₹14.7 crore in Q3FY25, a rise of 161%. On a sequential basis, the loss narrowed 24% from ₹50.5 crore.
Despite the higher loss at the profit after tax level, the company’s consolidated adjusted EBITDA increased 11% year on year to ₹153.8 crore in Q3FY26. The adjusted EBITDA margin remained broadly steady at 6.3%.
Operational metrics also showed steady growth. Consolidated gross merchandise value rose 10% year on year to ₹3,424.7 crore in Q3FY26. Annual unique transacting customers stood at 11.3 million on a trailing twelve-month basis, while average order value edged up to ₹2,684 from ₹2,675 in the year ago quarter.
The India multi-channel business, which includes online and offline retail, reported revenue of ₹1,645.8 crore in Q3FY26, up 9% year on year. Adjusted EBITDA for this segment came in at ₹163.8 crore, implying a margin of 10%. The company added that the India business remained profitable after tax and free cash flow positive during 9M FY26, despite muted consumer sentiment and higher competitive intensity in the diapering category during the quarter.
The international business in the UAE and KSA posted revenue growth of 7% year on year to ₹279.6 crore. Losses at the adjusted EBITDA level narrowed 25% to ₹29.7 crore, with margins improving to -11% from -15% a year ago.
Meanwhile, Globalbees, the group’s roll up brand platform, reported a 22% year on year rise in revenue to ₹515 crore in Q3FY26. Adjusted EBITDA for the segment more than doubled to ₹14.8 crore, and the margin improved to 2.9%.
FirstCry shares listed on August 13, 2024. Against an issue price of ₹465 per share, the stock opened at ₹651 on the NSE and touched an intraday high of ₹707.70. It later hit ₹734 in October on the NSE, but the stock has remained under pressure since then. In 2025, FirstCry shares declined 56%, and in CY2026 so far, the stock is down 12.25%.
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