Brainbees Solutions Limited · NSE:FIRSTCRY
Brainbees Solutions — Q3 and 9M FY26 Earnings Presentation
46 slides from Brainbees Solutions's earnings presentation, Feb 13, 2026
Slide 1: Exchange filing cover letter for investor presentation
FC/SE/2025-26/85 February 13, 2026 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 : Investor Presentation of Brainbees
Slide 2: Q3 and 9M'FY26 Earnings Presentation
Q3 and 9M’FY26 Earnings Presentation FEBRUARY 13, 2026
Slide 3: Disclaimer
Disclaimer By attending the presentation or by reading the presentation slides you agree to be bound as follows: This Presentation is prepared by Brainbees Solutions Limited (“Company”) and is for information purposes only without regards to specific objectives, financial situations or needs of any
Slide 4: A baby's first cry is a special moment for parents
A baby’s first cry is a special moment for parents At FirstCry, we aim to make this and all such moments of the parenting journey filled with joy and happiness 3
Slide 5: Table of Contents
Table of Contents 1. Q3 and 9M’FY26 Performance Highlights 2. Segmental Performance 3. Financial Summary 4. Business Overview 5. Supplementary Information 4
Slide 6: Q3 and 9M'FY26 Performance Highlights
Q3 and 9M’FY26 Performance Highlights • 3 5
Slide 7: Key highlights for Q3 and 9M'FY26
Key highlights for Q3 and 9M’FY26 Consolidated Business PAT positive 25% YoY increase Free Cash Flow(2) Positive (adjusted for ESOP cost) in Q3’FY26 Adjusted EBITDA(1) for 9M’FY26 for 9M’FY26 Segmental Updates India Multichannel YoY Revenue Growth (%) • India Multichannel: o Witnessed sequential imp
Slide 8: Q3'FY26 Snapshot for Consolidated Business
Q3’FY26 Snapshot for Consolidated Business 11.3 Mn INR 34,247 Mn INR 24,236 Mn Annual Unique Transacting GMV (1,3) Revenue from Operations(4) Customers(1,2) + 10% vs Dec 2024 + 10% vs Q3’FY25 + 12% vs Q3’FY25 INR 1,538 Mn INR 1,638 Mn INR 1,155 Mn Consolidated Adjusted India Multi-Channel Adjusted C
Slide 9: 9M'FY26 Snapshot for Consolidated Business
9M’FY26 Snapshot for Consolidated Business 11.3 Mn INR 87,590 Mn INR 63,853 Mn Annual Unique Transacting GMV (1,3) Revenue from Operations(4) Customers(1,2) + 10% vs Dec 2024 + 10% vs 9M’FY25 + 11% vs 9M’FY25 INR 3,673 Mn INR 3,959 Mn INR 2,397 Mn Consolidated Adjusted India Multi-Channel Adjusted C
Slide 10: Segmental Performance
Segmental Performance • 3
Slide 11: India Multi-Channel Business
India Multi-Channel Business Growing user base with increasing orders and GMV Orders (Mn) Key updates • Sequential improvement in YoY growth rate for revenue, despite 8% 31.9 relatively muted consumer sentiment in Q3 29.6 • Diapering category witnessed heightened competitive intensity during the qua
Slide 12: India Multi-Channel Business: Q3 and 9MFY26 Update
India Multi-Channel Business Q3 and 9MFY26 Update Revenue (INR Mn) Adjusted EBITDA(1) (INR Mn) 36.2% 34.8% 36.7% 36.4% 11.2% 10.0% 9.5% 9.3% 8% 42,635 6% 3,959 39,411 3,746 9% 1,688 16,458 1,638 15,106 Q3FY25 Q3FY26 9MFY25 9MFY26 Q3FY25 Q3FY26 9MFY25 9MFY26 % Gross Margin % % Adjusted EBITDA % % YoY
Slide 13: India Multi-Channel Business: Key Business Updates & Initiatives
India Multi-Channel Business Key Business Updates & Initiatives RocketBees Addressing footfalls in Faster delivery initiative the offline channel Aiming to roll out a realigned Expanded from 13 cities product portfolio to cater to to 22 cities a broader audience by H1’FY27 Witnessing 20%+ We anticip
Slide 14: International Business: Q3 and 9MFY26 Update
International Business Q3 and 9MFY26 Update Orders (Mn) Key Highlights 7% 1.6 • Q3FY26 witnessed elevated promotional activities led by two 1.5 horizontal ecommerce players that entered these markets in 2024 5% 0.6 • We consciously stayed away from participating in this trend as 0.5 our focus has be
Slide 15: International Business: Consistently driving sustainable business growth
International Business Consistently driving sustainable business growth Revenue(1) (INR Mn) Adjusted EBITDA(1,2) (INR Mn) 23.0% 24.5% 23.4% 25.2% (15%) (11%) (17%) (10%) 11% 7,226 (1,094) (36%) 6,532 (701) 7% 2,796 (395) (25%) 2,614 (297) Q3FY25 Q3FY26 9MFY25 9MFY26 Q3FY25 Q3FY26 9MFY25 9MFY26 % Gro
Slide 16: International Business: Continuous reduction in losses
International Business Witnessing continuous reduction in losses Adjusted EBITDA(1,2) (%) FY23 FY24 FY25 9MFY26 (10%) (16%) 705 Bps (19%) (25%) 831 Bps Bps Improvement Notes: 1. Numbers represent consolidated metrics of International business comprising UAE and KSA 15 2. Adjusted for share-based com
Slide 17: Globalbees: Core categories driving profitable growth
Globalbees Core categories driving consistent and profitable growth Core Categories(1) Rationalization of Performance for 9M FY26 Other Brands(3) INR 14,174 Mn 30% Other brands are the ones Revenue YoY Growth witnessing relatively lower revenue growth and are incurring losses Our endeavor is to
Slide 18: Globalbees: Strong profitable growth
Globalbees Strong profitable growth Revenue (INR Mn) Adjusted EBITDA(1) (INR Mn) 47.3% 39.4% 46.1% 41.7% 1.4% 2.9% 1.6% 2.0% Gross margin decline 22% 14,344 mainly driven by 54% 294 rationalization of Other brands and change in settlement by Flipkart 11,793 group, which has 191 impacted the revenue
Slide 19: Globalbees: Strong focus on profitability profile
Globalbees Strong focus on profitability profile Adjusted EBITDA(1) (%) 4.9% 2.0% 1% 0% FY23 FY24 FY25 9MFY26 (5%) Globalbees Core Categories(2) of Globalbees Notes: 1. Adjusted EBITDA is post corporate expenses; Adjusted for share-based compensation expenses and salaries and wages accounted as per
Slide 20: Financial Summary
Financial Summary • 6 19
Slide 21: Consolidated Business: Q3 and 9M'FY26 Update
Consolidated Business Q3 and 9M’FY26 Update Consolidated Revenue(1) (INR Mn) Consolidated Adjusted EBITDA(2) (INR Mn) 37.0% 34.8% 37.3% 36.5% 6.4% 6.3% 5.1% 5.8% 11% 63,853 25% 3,673 57,293 2,930 11% 1,538 12% 1,385 24,236 21,723 Q3FY25 Q3FY26 9MFY25 9MFY26 Q3FY25 Q3FY26 9MFY25 9MFY26 % Gross Margin
Slide 22: Business Overview
Business Overview
Slide 23: FirstCry Platform: Highly scalable core capabilities
FirstCry Platform: Highly scalable core capabilities driving sustainable growth across all segments Full-Stack Full-Stack Monetization Capabilities Parenting Needs Capabilities Monetization Platform Platform
Slide 24: Largest multi-channel retailer for Mothers', Babies' and Kids' products in India
Largest multi-channel retailer for Mothers’, Babies’ and Kids’ products in India 79% 21% GMV(1) from online GMV(1) from offline India multi-channel retail India multi-channel retail 10.8 Mn 1,202 Annual Unique Modern Stores(4) Transacting Customer(2) incl. FOFO & COCO 159 Mn 545 FirstCry mobile app
Slide 25: Personalized shopping experiences with customized homepages
Personalized shopping experiences with customized homepages Personalization based on age and gender Personalization based on different festivals Home page for parent of Home page for parent of Driving regional personalization: Home pages across different regions 6 months old girl 10 years old boy du
Slide 26: Addressing Babies' and Kids' needs through a wide assortment
Addressing Babies’ and Kids’ needs across age groups through a wide assortment of products Category wise share 1.9 Mn+ SKUs(1) offered from 7,833 brands(1) across our platforms of India GMV (%) Illustrative list of categories offered for different age groups 100% Trending fashion Feeding Toddler fas
Slide 27: Customers consistently transact more on our platform
Customers consistently transact more on our platform GMV Cohorts for Year 0 Till Year 4 Till Year 8 Till Year 12 Acquisition Year India Multi-channel business Year 0 to Year 4 (5 years) Year 0 to Year 8 (9 years) Year 0 to Year 12 (13 years) Fiscal 2013 1.0x 3.4x 5.5x 7.9x Fiscal 2017 1.0x 3.7x 6.3x
Slide 28: Highly curated Home Brand portfolio driving growth & margin expansion
Highly curated Home Brand portfolio driving growth & aiding margin expansion Our Key Home Brands Share of Home Brands in India Multichannel GMV ~1.5x CAGR of India > 55% Multichannel GMV Offering a curated assortment of high quality products 37% especially in the industry with fragmented supply
Slide 29: BabyHug: Largest Mothers', Babies', and Kids' products brand
BabyHug: Largest Mothers’, Babies’, and Kids’ products brand Available online and modern stores #1 Largest Mothers’, Babies’, and Kids’ products brand in the Asia Pacific region (exc. China) in terms of product assortment(1) #1 India’s largest multi-category Mothers’, Babies’, and Kids’ products bra
Slide 30: Combining platform strength of commerce and community
Combining the unique platform strength of commerce and community Commerce and parenting community are housed in the same mobile application driving customer acquisition and retention 29
Slide 31: India's largest and most engaged parenting community
We operate India’s largest and most engaged parenting community Baby Due Date Teething Calculator Baby Name Guide Tool Growth Memories Tracker Vaccine Milestones Tracker Diet Plans Q&A Parenting Discussion GPT Groups Personalized Contests and notifications Quizzes FirstCry Transmedia Premier Content
Slide 32: Long standing partnership with hospitals driving new user acquisition
Long standing partnership with hospitals driving new user acquisition Wide reach with hospitals and brand partners Unique market entry strategy Hospitals and Maternity 13,000+ Clinics(1) PAN India Expanding the coverage reach beyond existing channels Multi-Year Yielding Highest RoI for third 2.5 Mn+
Slide 33: KSA and UAE offer favourable demographics and large market opportunity
KSA and UAE offer favourable demographics and a large market opportunity India International Markets KSA UAE Birth rate (per 000s for CY22) 16.3 17.0 9.9 Spend per child on Childcare products 9,280 – 9,350 61,000 – 71,000 160,000 – 170,000 in FY24 (INR) Childcare products market size in FY29 (INR Bn
Slide 34: Replicating our successful playbook in International markets
Replicating our successful playbook in International markets Went live in UAE in Oct’19 Went live in KSA in Aug’22 Currently operating as Online Platform in both UAE and KSA 4.3 times(1) International segment AOV as compared to India Multi-Channel AOV Source: RedSeer report titled “Childcare Market
Slide 35: Multiple levers to drive margin expansion in International business
Multiple levers in play to drive margin expansion in International business Evolution of Gross Margin for India Multichannel and International Business segments India Started 24.0% 36.6% Multichannel in FY11 in FY18 in FY25 Business Year 1 Year 7 Year 14 Multiple margin expansion levers, including b
Slide 36: Globalbees: Scaling D2C brands profitably
Globalbees: Scaling D2C brands profitably Select brands across categories Home Improvement Home Appliances & Utilities Active, Lifestyle & Health & Personal Accessories Care Witnessing organic growth since September 2022(1) Note: 1. Globalbees made last brand acquisition in September 2022 35
Slide 37: Globalbees: Strong organic growth across all categories
Globalbees Strong organic growth across all categories Category wise mix of revenue Details for FY25 Core Other Categories(1) Brands(2) 14% 8% Investments(3) 15,903 228 30% 12% (INR Mn) 33% 12% INR 12,093 Mn INR 15,777 Mn Adjusted FY24 Revenue 17% FY25 Revenue Brand EBITDA %(4) 7.5% (31%) 13% 30% 30
Slide 38: Supplementary Information
Supplementary Information 37
Slide 39: Summary Consolidated Profit & Loss Statement
Summary Consolidated Profit & Loss Statement Particulars(1) (INR Million) FY24 FY25 9MFY25 9MFY26 Q3FY25 Q3FY26 Revenue from Operations 64,809 76,596 57,293 63,853 21,723 24,236 Material Costs 41,632 47,986 35,922 40,545 13,692 15,805 Gross Profit 23,177 28,610 21,371 23,308 8,031 8,431 Gross Profit
Slide 40: Summary Segment Disclosures
Summary Segment Disclosures INR Million FY24 FY25 9MFY25 9MFY26 Q3FY25 Q3FY26 India Multi-Channel Revenue from Operations 45,795 52,785 39,411 42,635 15,106 16,458 Adjusted EBITDA(1) 4,040 4,997 3,747 3,959 1,689 1,638 Adjusted EBITDA margin (%) 8.8% 9.5% 9.5% 9.3% 11.2% 10.0% Segment Results 1,666
Slide 41: Adjusted EBITDA to Profit / Loss after Tax Reconciliation
Adjusted EBITDA to Profit / Loss after Tax Reconciliation Particulars(1) (INR Million) FY24 FY25 9MFY25 9MFY26 Q3FY25 Q3FY26 Loss after Tax (3,215) (2,648) (1,533) (1,555) (147) (384) Add : Tax Expenses 0 328 388 427 216 332 Add : Finance Costs 1,154 1,207 1,193 422 392 1,583 Add : Depreciation and
Slide 42: Reconciliation of Profit / Loss after Tax to Cash Profit after Tax
Reconciliation of Profit / Loss after Tax to Cash Profit after Tax INR Million FY25 9MFY25 9MFY26 Q3FY25 Q3FY26 Loss after Tax (3,215) (1,533) (1,555) (147) (384) Deferred Tax expense 438 51 120 104 189 Loss before Deferred Tax Expense (3,653) (1,482) (1,435) (43) (195) Ind AS 116 Cost (Rent amortis
Slide 43: Other Operating Metrics (1/2)
Other Operating Metrics (1/2) Particulars (#s as of end of the period) FY24 FY25 9MFY25 9MFY26 Number of brands (1) 7,580 8,019 8,023 7,833 Number of SKUs (MM) (2) 1.65 1.82 1.81 1.93 Number of warehouses and stockists (3) 80 83 83 84 Modern Stores 1,063 1,156 1,136 1,203 FOFO Stores 628 629 628 657
Slide 44: Other Operating Metrics (2/2)
Other Operating Metrics (2/2) Particulars FY24 FY25 Q3FY25 Q3FY26 GMV(1) from Online (INR Mn) 73,700 86,363 25,717 28,310 GMV(1) from Offline (INR Mn) 17,511 19,490 5,523 5,937 GMV(1) from Existing Customers (INR Mn) 65,878 79,259 25,902 28,759 GMV(1) from New Customers (INR Mn) 25,333 26,594 5,338
Slide 45: Summary estimate of share based compensation expense
Summary estimate of share based compensation expense Expected ESOP Charges INR Mn Q1 Q2 Q3 Q4 Total FY 2026 596 586 568 585 2,336 Commentary FY 2027 442 297 297 297 1,334 • The table illustrates expected ESOP cost for granted options(4) FY 2028 156 156 156 156 625 • Actual charges might be different
Slide 46: Glossary
Glossary Term Definition FirstCry Modern Stores Includes FirstCry-owned multi-brand stores, franchisee stores, and exclusive home brand stores Monetary value of Orders inclusive of taxes and gross of discounts, if any, across the FirstCry website, mobile application and FirstCry and BabyHug modern s
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