Eternal Q1: Profit Rises 3X YoY To ₹92 Cr But Declines 47% Sequentially

Business • Akshit Pushkarna

Eternal, the parent company of Zomato and Blinkit, reported a consolidated net profit of ₹92 crore for the first quarter of FY27. This represents a nearly threefold increase from the ₹25 crore profit recorded in the same quarter last year, though it marks a 48% sequential decline from ₹174 crore. Operating revenue surged 182% year-on-year and 17% quarter-on-quarter, reaching ₹20,211 crore during the period under review.

Read Full Story

Business • Team Inc42

"Proxy advisory firm InGovern has urged SEBI to examine the GST classification used by Meesho's logistics arm, Valmo Transportation. InGovern alleges that Meesho applied a lower 5% tax rate instead of 18%, artificially reducing shipping costs and enhancing unit economics. While Meesho denies these claims and maintains full compliance, InGovern argues that the potential for retrospective tax liabilities constitutes a material risk that requires transparent disclosure to investors.".

Read Full Story

Business • Ankush Das

Soket AI Labs is developing Project EKA, a 120 billion-parameter open-source foundation model targeting Indian and over 20 Global South languages. Backed by ₹177 crore from the IndiaAI Mission, the startup focuses on reasoning, mathematics, and coding to support sectors like banking and defense. The company plans to release a smaller 24 billion-parameter model by 2026 before launching the full-scale version in 2027 to reduce foreign AI dependence.

Read Full Story

Business • Palak Sharma

Blinkit's adjusted EBITDA rose to ₹102 crore in Q1 FY27, up from ₹37 crore in the previous quarter, driven by strong revenue growth of 18.4% to ₹15,664 crore. This growth followed the addition of 200 dark stores, bringing the total to 2,443. Conversely, Eternal’s “Others” segment saw its adjusted EBITDA loss widen to ₹94 crore from ₹45 crore, primarily due to R&D investments for its AI platform, Nugget.

Read Full Story

Startups • Jagmeet Singh

"Glow, a cybersecurity startup founded by former Meta and Snowflake executives, has emerged from stealth as a unicorn after raising $180 million in Series A funding. Valued at $1.2 billion, the company offers an AI-native endpoint security platform designed to prevent risky software and AI agents from entering enterprise environments. Glow competes with industry giants like CrowdStrike by focusing on proactive prevention rather than just threat detection.".

Read Full Story

Business • Shraddha Goled

The Indian government is launching Semicon 2.0, shifting the India Semiconductor Mission's focus from general manufacturing to electronics systems and chip design. Moving beyond the grant-based model of the first phase, the government will now employ a grant-plus-equity approach, matching private investments to support fabless startups. This strategic shift aims to leverage India's design talent to create globally competitive semiconductor companies through catalytic capital.

Read Full Story

Business • Lokesh Choudhary

NBFC Aye Finance reported a 143.5% year-on-year increase in net profit to ₹74.5 crore for the quarter ended June 2026. Revenue from operations rose 17.7% to ₹477.4 crore, while assets under management grew 28% to ₹7,324 crore. The company saw improved asset quality, with GNPA declining to 4.49%. Additionally, the board approved a proposal to raise up to ₹4,000.

Read Full Story

Startups • Your story

Vipul Organics, a three-generation family business based in Maharashtra, specializes in pigments and dyes for global industries across 45 countries. With exports driving 70% of its revenue, the company recently reported record profits and expanded into automotive intermediates and water filtration membranes. Recognized for its stringent environmental certifications, the firm continues to grow its technical expertise while reducing India's import dependence in specialized chemical sectors.

Read Full Story

Startups • Rebecca Bellan

Synthesia, a British AI startup, has launched Roleplay Sessions, an interactive training tool allowing employees to practice high-stakes conversations with AI avatars. Unlike traditional video training, this platform provides real-time feedback and scoring against specific rubrics. By integrating performance analytics, Synthesia is transitioning from a content generation tool to a performance-management platform, aiming to provide enterprises with measurable business outcomes and granular talent data.

Read Full Story

Startups • Your story

Prof Ashok Jhunjhunwala, a veteran technologist and subject of the biography Roots & Wings, advocates for creating 20 million entrepreneurs to transform India. He highlighted the success of the IIT Madras Research Park, which fostered 350 startups valued at Rs 70,000 crore. Jhunjhunwala also proposes scrapping half of the current education syllabus to prioritize building over exams and is developing a green urban transport system.

Read Full Story

Business • Palak Sharma

Coworking provider Smartworks reported a consolidated net profit of ₹13.1 crore for Q1 FY27, reversing a ₹4.2 crore loss from the same period last year, though profit fell 21% sequentially from Q4 FY26. Operating revenue grew 44% year-on-year to ₹546.2 crore, while total income reached ₹559.7 crore. Meanwhile, total expenses increased by 37.7% to ₹542.1 crore compared to the previous year's first quarter.

Read Full Story

Startups • Your story

India is reviving its semiconductor industry after decades of interruption, transitioning from policy to execution. By 2026, the government approved 12 projects worth ₹1.64 lakh crore, with Semicon 2.0 adding ₹1.27 lakh crore. Key facilities like Micron's Sanand plant have begun commercial production. Focusing on mature nodes and chip design, India aims to build a sustainable ecosystem, though long-term success depends on manufacturing yield and continuity.

Read Full Story

Business • Pranav Pai

Skyroot’s Vikram-1 successfully reached orbit on its first attempt, demonstrating India's exceptional capital efficiency in space technology compared to global competitors. While government venture capital has de-risked prototypes, the industry now requires sustained demand to scale manufacturing. To build a globally competitive sector, the Indian state must transition from providing subsidies to acting as an anchor customer through long-term procurement contracts for satellite launches.

Read Full Story

Startups • Your story

GX Group, a Netherlands-headquartered broadband equipment maker, has evolved into a global hub for design and manufacturing in India. After becoming the first to receive India's telecom PLI incentives, the company expanded internationally by acquiring Swiss firm Ping Communication. GX is now investing Rs 500 crore into GX Quantum Photonics to produce India's first photonics chips by October 2026, targeting AI and 5G markets.

Read Full Story

Business • Shrishti Bisht

Ankur Jain, founder of Bira 91 parent B9 Beverages, has stepped down from the board and surrendered his family's 17.8% stake. This settlement with investors and lenders ends a two-year dispute and releases Jain from personal liabilities. The move clears the way for recapitalization to address approximately ₹1,000 crore in debt, clear vendor dues, and restart operations after prolonged financial stress and operational disruptions.

Read Full Story

Startups • Your story

"Electric vehicle manufacturer Ather Energy has raised Rs 1,300 crore through a qualified institutional placement, part of a broader Rs 2,500-crore capital infusion plan. The issue was oversubscribed eight times, attracting significant interest from domestic and foreign institutional investors. The company issued 1.08 crore shares at Rs 1,202 each. These funds will be used to drive product development and expand manufacturing capabilities to support long-term growth.".

Read Full Story

Business • Bismah Malik

Zerodha, India's largest discount broker, is diversifying into a full-stack financial services firm to counter declining trading revenues caused by SEBI's crackdown on derivatives. The company is expanding into merchant banking, secured lending, wealth management, and asset management. By leveraging its massive user base, Zerodha aims to create more predictable revenue streams through IPO advisory and lending, reducing its vulnerability to regulatory shifts and market volatility.

Read Full Story

Startups • Your story

YourStory's MSME Sparks 2026 event highlighted the vital role of India's 5.93 crore MSMEs in the national economy. A key session by Zoho's Gautam Varma urged these enterprises to integrate startup-style agility and AI-driven data decisions while preserving their traditional financial discipline and profitability. By leveraging technology for efficiency and scale, MSMEs can drive growth and ensure long-term resilience without risking premature scaling failures.

Read Full Story

Startups • Your story

At MSME Sparks 2026, Recur Club founder Eklavya Gupta emphasized the importance of strategic financing for MSMEs. He advised founders to match capital sources to specific needs, using debt for predictable growth and equity for uncertain outcomes. Gupta highlighted that cash flow and compliance are critical for securing loans. He also recommended maintaining specific debt-to-equity ratios and preparing for funding early to ensure better negotiating power.

Read Full Story

Startups • Your story

India produces 70.73 lakh tonnes of textile waste annually, presenting a significant environmental challenge and business opportunity. Devansh Peshin of Enviu highlights that while mechanical recycling handles cotton, blended fabrics remain difficult to process. To scale circular solutions and reach a projected $3.5 billion market by 2031, India needs improved collection infrastructure, tax reforms for recycled materials, and a supportive Extended Producer Responsibility framework to create green jobs.

Read Full Story

Categories

Eternal Q1: Profit Rises 3X YoY To ₹92 Cr But Declines 47% Sequentially

InGovern Asks SEBI To Examine Meesho’s GST Disclosures

Soket AI Wants To Turn The Language Gap In AI Into India’s Edge

Blinkit’s Q1 Adjusted EBITDA Rises To ₹102 Cr; ‘Others’ Losses Rise On Nugget R&D

Glow emerges from stealth at $1.2B valuation to challenge endpoint security in the AI era

Why India Is Betting On Chip Design Startups With ₹1.25 Lakh Cr ISM 2.0

Aye Finance Q1 Profit Jumps 144% YoY To ₹74.5 Cr

From a bag of naphthol to a ₹175 crore global colour business: The Vipul Organics story

Synthesia’s AI training platform is moving beyond videos into live coaching

‘Cut 50% of the syllabus’: Ashok Jhunjhunwala’s bold plan for India

Smartworks Posts ₹13 Cr Profit In Q1, Revenue Zooms 44% YoY To ₹546 Cr

India's chip dream was derailed in 1989. In 2026, it's roaring back

Orbit Achieved, Scale Pending: Why India’s Space Startups Need State-Backed Capital

How an Ericsson Castoff Became the Backbone of India’s Fibre Internet: The GX Group Story

Bira 91 Founder Ankur Jain Steps Down, Gives Up 17.8% Stake In Settlement

Ather Energy raises Rs 1,300 Cr through QIP

Beyond Broking: How Zerodha Is Restacking Its Revenue Pyramid

Borrow the speed, keep the discipline: Zoho's startup playbook for MSMEs

Debt or equity? Recur Club’s Eklavya Gupta breaks down how MSMEs should choose capital

Enviu’s Devansh Peshin on building markets and jobs from India’s textile waste