Brands
Biocon names Shreehas Tambe CEO as Siddharth Mittal exits corner office
Leadership rejig aligns with biologics integration and wider organisational overhaul
BENGALURU: Biocon is resetting its leadership deck just as it redraws its business architecture. The Bengaluru-based biopharma firm has named Shreehas Tambe as chief executive officer and managing director, replacing Siddharth Mittal, who is stepping down from the role at the end of March.
The board approved the transition on March 27, following Mittal’s resignation on March 20. He will exit as ceo and managing director, and as key managerial personnel, at the close of business on March 31, 2026, before moving into another leadership role within the Biocon group.
Tambe, currently a senior leader within the group, will take charge from April 1 for a five-year term, subject to shareholder approval. He will also join the board as an additional director from the same date.
The leadership switch comes as Biocon folds Biocon Biologics into the parent, creating a unified structure spanning biosimilars and generics—a move aimed at sharpening scale and execution in a competitive global market.
The reshuffle runs deeper. Interim chief financial officer Mukesh Kamath will step down on March 31 to take up another group role, with Kedar Upadhye stepping in as cfo from April 1. Akhilesh Nand has been named head of governance, risk and compliance and key managerial personnel, while Naveen Narayanan will take over as chief human resources officer and Mandar Shrikant Ghatnekar as chief technology officer.
Kiran Mazumdar-Shaw, executive chairperson, framed the transition as a strategic pivot. The integration, she said, positions Biocon as a “globally scaled biopharma enterprise”. She credited Tambe with steering key milestones, including the acquisition and integration of the Viatris biosimilars business, and acknowledged Mittal’s role in shaping the company’s growth since 2013.
Tambe called the appointment an “honor and privilege”, signalling a focus on consolidating operations, strengthening the foundation and accelerating sustainable growth as biologics and generics converge under one roof.
For Biocon, this is more than a change at the top—it is a full-spectrum reset, with execution now the only metric that matters.
Brands
Reliance Retail FY26 revenue rises 11.8 Per Cent to Rs 3.7 lakh crore
Q4 revenue up 11.1 Per Cent, hyperlocal orders surge 4x, PAT steady
MUMBAI: Reliance Retail isn’t just ringing up sales, it’s ringing doorbells faster than ever. Reliance Retail Ventures Limited (RRVL) reported a steady FY26 performance, with growth powered by store expansion, a sharp surge in hyperlocal commerce, and consistent traction across grocery, fashion and jewellery. For the full year, revenue rose 11.8 per cent year-on-year to Rs 3,70,026 crore. In the January–March quarter, revenue from operations climbed 11.1 per cent to Rs 87,344 crore, up from Rs 78,622 crore a year earlier.
Operating performance remained stable, with Q4 EBITDA inching up 3.1 per cent YoY to Rs 6,921 crore from Rs 6,711 crore. However, quarterly profit after tax held steady at Rs 3,563 crore. For the full fiscal, PAT grew 11.7 per cent to Rs 13,842 crore.
Expansion remained a key lever. RRVL added 1,564 new stores during FY26, while simultaneously scaling its digital and hyperlocal commerce play. The latter emerged as a standout, with daily orders surging more than fourfold year-on-year in Q4, underlining a clear shift towards faster, localised fulfilment.
In grocery, large-format stores maintained momentum, aided by festive demand and the expansion of Smart Bazaar, which crossed 1,000 stores. Promotional campaigns such as ‘Full Paisa Vasool’ delivered record results, with sales rising 26 per cent YoY.
Digital commerce also picked up pace. JioMart added 5.8 million new users in Q4, nearly doubling its registered base year-on-year. Hyperlocal orders grew 29 per cent sequentially and over 300 per cent annually during the quarter.
Fashion and lifestyle saw steady traction. Ajio recorded a 23 per cent YoY rise in average bill value, while fast-fashion platform Shein crossed 11 million app installs, scaling rapidly with expanding product lines.
The jewellery business added further shine, with average bill value jumping 53 per cent YoY, largely driven by rising gold prices and sustained consumer demand.
Commenting on the shift, RRVL executive director Isha Ambani said hyperlocal commerce has become a structural growth driver, with orders rising more than fourfold over the year.
Looking ahead to FY27, the company is betting on technology to deepen engagement. The focus, Ambani noted, will be on AI-led merchandising, sharper pricing strategies and disciplined execution turning scale into sustained customer value.
In short, the carts are fuller, the clicks are quicker, and the next phase looks less about reach and more about precision.
