Brainbees Solutions, the parent company of FirstCry, a prominent mother-and-baby care retailer, announced that its subsidiary Globalbees Brands has increased its ownership in Candes Technology, a home appliances firm focusing on affordable consumer electronics.
The acquisition, finalized through a cash transaction at Rs 37,250 per share, involved Globalbees acquiring an additional 30% stake from existing shareholders, raising its stake in Candes from 62% to 92%.
Candes Technology, established in January 2021, specializes in manufacturing and selling smart electrical products like fans, geysers, heaters, and kitchen appliances under the ‘Candes’ brand.
This strategic move significantly bolsters Globalbees’ presence in the electronics sector.
Brainbees Solutions reported a 12% year-on-year revenue increase for the quarter ending in December 2025, despite a notable 2.5-fold surge in losses.
FirstCry, a subsidiary of Brainbees Solutions, observed a revenue increase from operations to Rs 2,424 crore in Q3 FY26 from Rs 2,172 crore in Q3 FY25, as per unaudited financials filed with the National Stock Exchange.
The procurement costs accounted for 64% of total expenses, climbing by 15% to Rs 1,580 crore from Rs 1,369 crore in the previous year. Employee benefits totaled Rs 197 crore in Q3 FY26, incorporating Rs 57 crore in ESOP expenses.
Losses widened to Rs 38 crore in Q3 FY26 from Rs 15 crore in Q3 FY25, with cumulative losses for the nine months till December 2025 remaining relatively stable at Rs 154 crore versus Rs 153 crore in the corresponding period last year.
Source: Entrackr : Latest Posts