Brainbees Solutions, the parent entity of FirstCry, has announced that its subsidiary Globalbees Brands has acquired an additional stake in Candes Technology, further consolidating its presence in the consumer electronics segment.
The company executed the transaction as a cash deal at Rs 37,250 per share. Specifically, Globalbees purchased an additional 30% stake from existing shareholders, thereby increasing its total shareholding in Candes from 62% to 92%. As a result, the move significantly strengthens Globalbees’ controlling interest in the brand.
Founded in January 2021, Candes Technology operates as a home appliances company that manufactures and sells a range of smart electrical products, including fans, geysers, heaters, and kitchen appliances. Notably, the brand focuses on delivering affordable consumer electronics to a wide customer base.
The acquisition, which concluded on March 31, 2026, strategically enhances Globalbees’ footprint in the electronics category. Moreover, this move aligns with its broader strategy of scaling high-growth digital-first brands across multiple segments.
Meanwhile, Brainbees Solutions reported a 12% year-on-year increase in revenue for the quarter ended December 2025. However, despite revenue growth, the company’s losses widened significantly during the same period. FirstCry’s revenue from operations rose to Rs 2,424 crore in Q3 FY26, compared to Rs 2,172 crore in Q3 FY25, according to its unaudited financials filed with the National Stock Exchange.
In terms of cost structure, procurement expenses accounted for 64% of total expenditure and increased by 15% to Rs 1,580 crore from Rs 1,369 crore a year earlier. Additionally, employee benefit expenses stood at Rs 197 crore in Q3 FY26, which included Rs 57 crore in ESOP-related costs.
Consequently, losses expanded to Rs 38 crore in Q3 FY26, up from Rs 15 crore in Q3 FY25. However, for the nine-month period ending December 2025, losses remained largely stable at Rs 154 crore, compared to Rs 153 crore in the corresponding period last year.
While Brainbees Solutions continues to strengthen its portfolio through strategic acquisitions like Candes, the company must address rising costs and profitability challenges to sustain long-term growth in an increasingly competitive consumer and electronics market.
