Brainbees Solutions Limited, through its flagship brand FirstCry, has evolved from an online retailer of baby products into India’s largest integrated parenting ecosystem. Rather than competing solely on price or product assortment, the company has adopted a long-term strategy of serving parents throughout their entire parenting journey—from pregnancy and infancy to early childhood. By combining e-commerce, physical retail, private brands, technology, content, education, and international expansion, FirstCry has positioned itself as a comprehensive platform that aims to become the first choice for parenting-related needs.

The foundation of FirstCry’s business strategy is its omni-channel retail model, which seamlessly integrates digital commerce with an extensive offline network of 1,156 modern stores operating under both Franchisee-Owned Franchisee-Operated (FOFO) and Company-Owned Company-Operated (COCO) formats. This strategy allows customers to browse products online, experience them in physical stores, and purchase through the channel that best suits their needs. By combining the convenience of e-commerce with the trust and accessibility of offline retail, FirstCry has created a differentiated shopping experience that strengthens customer engagement and brand loyalty.

Another key pillar of the company’s strategy is to build a full-stack parenting ecosystem rather than simply operating as a retailer. As of FY2025, FirstCry offered approximately 1.8 million SKUs across 8,019 brands, serving 10.6 million annual unique transacting customers who placed 41.5 million orders during the year. Beyond product sales, the company has expanded into parenting content, community engagement, preschool education through FirstCry Intelli Education, and digital-first consumer brands through GlobalBees. These adjacent businesses increase customer lifetime value while reducing reliance on a single revenue stream.

FirstCry’s strategy also emphasizes vertical integration and profitability through its portfolio of proprietary brands, including BabyHug, Babyoye, CuteWalk, and Pine Kids. These home brands enable the company to improve gross margins, control product quality, strengthen customer loyalty, and differentiate itself from general e-commerce platforms. Simultaneously, FirstCry leverages customer data, child profiles, and advanced technology to personalize shopping experiences, improve product recommendations, and enhance operational efficiency across its supply chain.

International expansion represents another important element of the company’s long-term strategy. Having established operations in the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA), FirstCry is replicating its successful India playbook in high-growth markets with significantly higher spending per child. Alongside its expansion through GlobalBees, this diversification strategy broadens the company’s addressable market while creating multiple engines for sustainable growth beyond its core Indian business.

This article analyzes FirstCry’s Business Strategy based on the FY2025 Annual Report. It examines the company’s key strategic pillars, competitive advantages, challenges, future growth initiatives, and provides an evidence-based assessment of how FirstCry is building a scalable and defensible parenting ecosystem in India and international markets.

FirstCry Business Model in 2026: How FirstCry Makes Money

FirstCry’s Strategic Pillars

FirstCry’s long-term strategy is centered on building an integrated parenting ecosystem rather than operating as a traditional baby products retailer. The company combines omni-channel retail, private brands, technology, education, community engagement, and international expansion to create multiple growth engines that reinforce one another. This ecosystem-driven approach enables FirstCry to strengthen customer relationships throughout the parenting journey while improving profitability, increasing customer lifetime value, and building sustainable competitive advantages.

2.1 Building India’s Largest Omni-Channel Parenting Platform

One of FirstCry’s core strategic priorities is to strengthen its leadership through a seamless omni-channel retail network. Instead of treating online and offline channels as separate businesses, the company integrates them into a unified customer experience. Parents can research products online, compare alternatives, visit nearby stores for physical evaluation, and complete purchases through whichever channel is most convenient.

This strategy is particularly important in the mothers’, babies’, and kids’ category, where many products such as strollers, car seats, cribs, furniture, and premium baby gear often require physical inspection before purchase. FirstCry addresses this need through a network of 1,156 modern stores operating under both FOFO (Franchisee-Owned Franchisee-Operated) and COCO (Company-Owned Company-Operated) models while maintaining a strong digital platform. The combination of physical accessibility and digital convenience enhances customer trust, improves conversion rates, and strengthens long-term brand loyalty.

2.2 Strengthening the Private Brand Portfolio

Another important strategic pillar is expanding FirstCry’s portfolio of proprietary brands. Rather than relying entirely on third-party manufacturers, the company has developed successful home brands such as BabyHug, Babyoye, CuteWalk, and Pine Kids, covering categories including apparel, footwear, diapers, nursery products, toys, skincare, and baby gear.

This strategy delivers multiple benefits. Private brands improve gross margins, provide greater control over product quality and pricing, reduce dependence on external suppliers, and help differentiate FirstCry from general e-commerce marketplaces. As these brands gain customer trust, they also strengthen customer retention and improve the company’s profitability. The continued expansion of home brands therefore remains central to FirstCry’s long-term value creation strategy.

2.3 Creating a Complete Parenting Ecosystem

Unlike most retailers that focus only on product transactions, FirstCry aims to become a trusted parenting partner throughout every stage of child development. The company’s strategy extends beyond commerce by integrating shopping with expert content, digital tools, community engagement, and early childhood education.

Through the FirstCry Parenting Community, parents gain access to articles, expert advice, vaccination trackers, growth trackers, nutrition guidance, discussion forums, and healthcare-related resources. In addition, FirstCry Intelli Education offers preschool services, learning programs, books, and educational products. These complementary services increase customer engagement, strengthen emotional connections with the brand, and create opportunities for higher customer lifetime value by keeping families within the FirstCry ecosystem for many years.

2.4 Technology and Personalization

Technology is a critical enabler of FirstCry’s business strategy. The company leverages customer data, purchase history, child profiles, and behavioral analytics to personalize shopping experiences and improve customer satisfaction.

Parents can create child profiles that allow the platform to recommend age-specific products, seasonal essentials, educational content, and personalized offers. These capabilities improve product discovery while increasing repeat purchases and customer retention. Beyond customer-facing applications, technology also supports inventory planning, merchandising, pricing, supply chain optimization, and operational efficiency, allowing FirstCry to scale its business more effectively as transaction volumes continue to grow.

2.5 Scaling GlobalBees

FirstCry has expanded its strategic focus beyond childcare through GlobalBees, which builds and scales digital-first consumer brands across categories such as Home Improvement & Utilities, Home Appliances, Health & Personal Care, and Active, Lifestyle & Accessories.

This initiative diversifies the company’s revenue base while leveraging capabilities already developed within the FirstCry ecosystem, including marketplace expertise, supply chain management, technology infrastructure, and brand-building capabilities. By supporting multiple consumer brands outside the parenting category, GlobalBees reduces concentration risk and creates an additional long-term growth engine for the company.

2.6 International Expansion

International expansion represents another important pillar of FirstCry’s long-term strategy. After establishing a strong leadership position in India, the company has expanded into the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) by replicating its successful India business model.

These markets offer attractive opportunities due to higher disposable incomes, greater spending per child, and increasing demand for organized childcare retail. FirstCry combines localized digital platforms, efficient warehousing, curated product assortments, and proprietary brands to build a trusted parenting platform in these regions. As international operations scale, they are expected to diversify revenue streams, reduce dependence on a single geography, and strengthen the company’s global competitive position.

FirstCry SWOT Analysis in 2026

FirstCry’s Competitive Advantages

FirstCry has established itself as India’s largest parenting platform by creating competitive advantages that extend far beyond product assortment or pricing. Its strategy combines a multi-channel retail network, proprietary brands, technology, customer engagement, education, and international expansion into an integrated ecosystem that is difficult for competitors to replicate. These advantages reinforce one another, enabling the company to acquire customers efficiently, increase customer lifetime value, and maintain leadership in the mothers’, babies’, and kids’ retail market.

3.1 Largest Product Selection

One of FirstCry’s strongest competitive advantages is the breadth and depth of its product portfolio. As of FY2025, the platform offered approximately 1.8 million SKUs across 8,019 brands, making it one of the largest specialized assortments for mothers, babies, and kids in India. The catalog spans every major category, including apparel, footwear, diapers, nursery products, baby gear, toys, books, personal care products, school supplies, and maternity essentials.

This extensive selection allows parents to fulfill virtually all their childcare requirements through a single trusted platform. The comprehensive assortment also strengthens customer retention, reduces the need to shop across multiple retailers, and enhances FirstCry’s position as a one-stop parenting destination.

3.2 Strong Multi-Channel Presence

Unlike many online-only retailers, FirstCry has successfully integrated digital commerce with a large offline retail network. The company operates 1,156 modern stores across India through a combination of Franchisee-Owned Franchisee-Operated (FOFO) and Company-Owned Company-Operated (COCO) formats.

This omni-channel presence creates a significant competitive advantage because many parenting products require physical evaluation before purchase. Customers can browse online, visit stores to inspect products, seek expert assistance, and complete purchases through their preferred channel. This seamless shopping experience enhances convenience, improves customer confidence, and creates stronger brand loyalty than businesses operating exclusively online or offline.

3.3 Trusted Home Brands

FirstCry has built a strong portfolio of proprietary brands, including BabyHug, Babyoye, CuteWalk, and Pine Kids, which have become important differentiators within its business model. These brands enable the company to offer quality products across multiple price segments while maintaining greater control over design, sourcing, quality standards, and pricing.

Private labels also generate higher margins than third-party products, improve profitability, and reduce dependence on external suppliers. As customer trust in these brands grows, they strengthen repeat purchases and make it more difficult for competitors to replicate FirstCry’s value proposition solely through marketplace offerings.

3.4 Data-Driven Customer Relationships

Another key competitive advantage is FirstCry’s ability to leverage customer data and technology to create personalized shopping experiences. Through child profiles, purchase history, and behavioral analytics, the company recommends age-appropriate products, seasonal essentials, educational content, and personalized offers tailored to each family’s needs.

This data-driven approach simplifies product discovery, increases customer satisfaction, and encourages repeat purchases throughout the parenting lifecycle. As customers continue interacting with the platform over several years, FirstCry accumulates valuable insights that improve personalization and strengthen long-term customer relationships, creating an advantage that new entrants would find difficult to match.

3.5 Integrated Parenting Ecosystem

FirstCry differentiates itself by extending beyond retail into a broader parenting ecosystem. Through the FirstCry Parenting Community, customers gain access to expert articles, parenting tools, vaccination trackers, growth trackers, nutrition guidance, and community discussions. The company has also expanded into early childhood education through FirstCry Intelli Education, offering preschools, learning programs, and educational products.

These complementary services deepen customer engagement and transform FirstCry from a transactional retailer into a long-term parenting partner. By supporting families throughout multiple stages of child development, the company increases customer lifetime value while creating higher switching costs compared to traditional retailers.

3.6 Asset-Light Franchise Expansion

FirstCry’s franchise-led expansion strategy provides another important competitive advantage. The FOFO model enables the company to rapidly expand its retail footprint with lower capital investment while leveraging the entrepreneurial capabilities and local market knowledge of franchise partners. Company-operated stores complement this strategy by strengthening the brand in key markets and providing greater operational control where required.

This balanced approach allows FirstCry to scale efficiently, improve geographic reach, and strengthen brand visibility without assuming the full capital burden associated with operating every retail outlet directly. As a result, the company can accelerate expansion while maintaining financial flexibility.

3.7 Diversified Growth Engines (GlobalBees, Education, and International Business)

Beyond its core retail operations, FirstCry has created multiple growth engines that reduce dependence on a single business segment. GlobalBees enables the company to scale digital-first consumer brands across categories beyond childcare, while FirstCry Intelli Education expands its presence in early childhood education. At the same time, operations in the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) diversify geographic exposure and provide access to markets with higher spending per child.

These complementary businesses strengthen the resilience of FirstCry’s overall strategy by broadening its addressable market, creating additional revenue streams, and leveraging the company’s existing capabilities in technology, branding, supply chain management, and customer engagement. Together, they position FirstCry for sustainable long-term growth while reinforcing its leadership within the parenting ecosystem.

FirstCry PESTEL Analysis in 2026

Challenges & Risks for FirstCry

While FirstCry has established itself as India’s leading parenting platform, sustaining this leadership will require navigating a rapidly evolving retail landscape. The company faces challenges from intense competition, margin pressures, operational complexity, and execution risks associated with expanding into new markets and business segments. Successfully addressing these risks will be critical to maintaining growth while improving profitability and shareholder value.

4.1 Intensifying Competition

The Indian retail and e-commerce market is becoming increasingly competitive. FirstCry competes with horizontal marketplaces such as Amazon and Flipkart, value-focused platforms like Meesho, large organized retailers including Reliance Retail, and numerous specialty baby and kids retailers. Many of these competitors possess significant financial resources, extensive logistics networks, and the ability to offer aggressive discounts.

While FirstCry differentiates itself through its specialized parenting ecosystem and omni-channel presence, maintaining market leadership will require continuous investment in customer experience, product innovation, private brands, and technology. Increasing promotional activity across the industry could also put pressure on customer acquisition costs and margins.

4.2 Maintaining Profitability While Growing

FirstCry continues to invest heavily in expanding its retail network, technology platform, marketing initiatives, supply chain infrastructure, and new business verticals. Although these investments support long-term growth, they also create pressure on operating margins in the near term.

Balancing rapid expansion with sustainable profitability will remain a major strategic challenge. The company must continue increasing operational efficiency, improving gross margins through private brands, optimizing marketing expenditure, and enhancing supply chain productivity to generate consistent earnings while maintaining growth momentum.

4.3 Supply Chain and Inventory Complexity

Managing approximately 1.8 million SKUs across 8,019 brands, multiple warehouses, online channels, and more than a thousand retail stores requires an exceptionally sophisticated supply chain. As FirstCry expands its private-label portfolio and international operations, inventory planning becomes increasingly complex.

Maintaining product availability while minimizing excess inventory, reducing delivery times, controlling logistics costs, and ensuring product quality across such a large assortment requires continuous investment in technology, forecasting, and supply chain optimization. Any disruption in procurement, warehousing, or logistics could negatively affect customer satisfaction and financial performance.

4.4 Execution Risk in International Markets

International expansion into the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) offers attractive long-term opportunities, but it also introduces execution risks. Each market has unique consumer preferences, competitive dynamics, regulatory requirements, and supply chain considerations.

Successfully replicating the India business model will require adapting product assortments, pricing strategies, marketing campaigns, and operational processes to local market conditions. Failure to localize effectively or achieve sufficient scale could delay profitability and limit the contribution of international operations to the company’s overall growth strategy.

4.5 Scaling GlobalBees Successfully

GlobalBees has the potential to become an important growth engine beyond the parenting ecosystem, but scaling multiple digital-first consumer brands presents operational challenges. The business must identify attractive acquisition opportunities, integrate brands efficiently, maintain product quality, and support sustained growth across diverse consumer categories.

Managing a portfolio of brands spanning home improvement, appliances, lifestyle, and personal care requires capabilities that differ from FirstCry’s traditional childcare business. Effective capital allocation, disciplined integration, and strong execution will be essential for GlobalBees to deliver long-term value.

4.6 Dependence on Consumer Spending and Birth Trends

Demand for mothers’, babies’, and kids’ products is influenced by demographic trends, household income, and consumer confidence. Economic slowdowns, inflationary pressures, or changes in discretionary spending can affect purchases of premium childcare products.

Over the longer term, declining birth rates or shifts in population growth could also moderate demand in certain product categories. Although FirstCry’s expansion into education, GlobalBees, and international markets provides diversification, the company’s core business remains closely linked to broader consumer and demographic trends.

4.7 Maintaining Brand Trust and Customer Loyalty

Parents prioritize safety, quality, and reliability when purchasing products for their children. Any issues related to product quality, counterfeit goods, customer service, delivery performance, or data privacy could significantly impact FirstCry’s reputation.

As the company continues to expand across multiple business segments and geographies, maintaining consistent service quality and preserving customer trust will become increasingly important. Continuous investment in quality assurance, supplier management, customer support, and digital security will be essential to protecting one of FirstCry’s most valuable assets—its brand reputation.

Strategic Recommendations

FirstCry has successfully established itself as India’s leading parenting platform through its integrated ecosystem of commerce, private brands, technology, education, and community engagement. However, sustaining high growth while improving profitability will require the company to strengthen its competitive advantages and adapt to an increasingly competitive retail environment. Based on the FY2025 Annual Report and industry dynamics, the following strategic recommendations could further enhance FirstCry’s long-term position.

5.1 Expand High-Margin Private Brands Faster

Private brands are one of FirstCry’s strongest strategic assets, offering higher margins, stronger differentiation, and greater control over product quality. While brands such as BabyHug, Babyoye, CuteWalk, and Pine Kids have achieved significant scale, the company can further expand these brands into adjacent categories such as children’s nutrition, room décor, school essentials, maternity wellness, and smart parenting products.

Increasing the share of private-label sales would improve profitability, reduce dependence on third-party brands, and strengthen customer loyalty. Over time, FirstCry could position its flagship brands as category leaders, similar to how retailers in global markets have built highly successful private-label businesses. This strategy would also provide greater resilience against pricing pressure from online marketplaces.

5.2 Accelerate AI-Powered Personalization

FirstCry already leverages customer data and child profiles to personalize recommendations, but advances in artificial intelligence present an opportunity to create a much more intelligent parenting platform. AI could be used to anticipate customer needs based on a child’s age, developmental milestones, purchase history, and seasonal trends.

For example, the platform could proactively recommend products before parents search for them, generate personalized parenting content, automate replenishment reminders for consumables, and provide AI-powered shopping assistants. These capabilities would improve customer engagement, increase repeat purchases, and further differentiate FirstCry from general e-commerce platforms that primarily focus on product transactions.

5.3 Increase Subscription and Loyalty Offerings

FirstCry’s long-term relationship with parents makes it well suited for subscription-based services. The company could strengthen customer retention by expanding loyalty programs that offer exclusive discounts, free shipping, early access to new products, educational resources, and premium parenting services.

Subscription models for recurring purchases such as diapers, baby food, personal care products, and educational kits could also increase predictable revenue while reducing customer acquisition costs. Such programs would enhance customer lifetime value and create higher switching costs by integrating multiple benefits into a single membership ecosystem.

5.4 Expand Healthcare and Parenting Services

FirstCry has already established a strong presence in parenting content and early childhood education. The next strategic step would be expanding into complementary healthcare and parenting services that naturally align with its customer base.

Potential opportunities include teleconsultations with pediatricians, nutritionists, lactation consultants, vaccination scheduling, developmental assessments, and wellness programs for mothers and children. By integrating trusted healthcare services into its existing ecosystem, FirstCry could deepen customer relationships while creating additional high-value revenue streams beyond retail.

5.5 Strengthen International Expansion

The company’s presence in the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) demonstrates that its business model can be replicated internationally. To maximize this opportunity, FirstCry should continue localizing product assortments, marketing campaigns, and customer experiences to reflect regional preferences rather than simply exporting its India model.

The company should also prioritize operational excellence, strong local partnerships, and efficient supply chains to achieve scale more quickly. Once profitability is established in existing markets, FirstCry can evaluate expansion into other regions with favorable demographics and growing demand for organized childcare retail.

5.6 Improve Operating Margins Through Supply Chain Optimization

Managing millions of SKUs across online channels, retail stores, warehouses, and international markets creates significant operational complexity. Continued investment in demand forecasting, inventory optimization, warehouse automation, and logistics technology could substantially improve efficiency.

Using advanced analytics to optimize inventory allocation, reduce stockouts, minimize excess inventory, and improve delivery performance would lower operating costs while enhancing customer satisfaction. These improvements are particularly important as the company continues expanding its retail footprint and private-label portfolio.

5.7 Continue Building the Parenting Ecosystem

FirstCry’s greatest competitive advantage is that it has evolved beyond a retailer into a comprehensive parenting ecosystem. The company should continue strengthening the integration between commerce, education, community, content, technology, and customer services to create a platform that supports families throughout every stage of parenting.

Future initiatives could include deeper integration between FirstCry Parenting, FirstCry Intelli Education, private brands, loyalty programs, healthcare services, and AI-powered personalization. The more interconnected these services become, the higher the customer lifetime value and the stronger the barriers to competition. Rather than competing primarily on price, FirstCry should continue positioning itself as the most trusted long-term partner for parents—a strategy that is likely to deliver sustainable competitive advantages for many years to come.

Future of FirstCry’s Business Strategy

FirstCry’s long-term business strategy is centered on evolving from India’s largest retailer for mothers, babies, and kids into the country’s most comprehensive parenting ecosystem. While the company has already built leadership through its omni-channel retail network, private brands, technology platform, and education initiatives, its future growth will increasingly depend on deepening customer relationships, expanding internationally, leveraging artificial intelligence, and building multiple high-margin businesses around the parenting journey. This ecosystem-driven strategy positions FirstCry to create sustainable competitive advantages while diversifying its revenue streams over the coming decade.

6.1 Becoming the Default Parenting Platform

Rather than positioning itself as merely a retailer, FirstCry aims to become the default destination for every major parenting need. Its strategy integrates commerce, education, expert guidance, parenting content, digital tools, and community engagement into a unified platform that supports families from pregnancy through a child’s formative years.

As more parents rely on FirstCry throughout different stages of parenting, the company can significantly increase customer lifetime value while strengthening emotional connections with its brand. This shift from transactional retail to relationship-based engagement creates higher switching costs and makes the business more resilient against price-based competition.

6.2 Scaling Private Brands into Category Leaders

Private brands are expected to become an even more important pillar of FirstCry’s future strategy. Brands such as BabyHug, Babyoye, CuteWalk, and Pine Kids already play a significant role in differentiating the company’s product portfolio and improving profitability.

Going forward, FirstCry is likely to expand these brands across additional categories while continuously improving product quality, innovation, and customer trust. As these brands mature, they can evolve into standalone category leaders that compete with established national and international brands. A larger private-label portfolio would also strengthen pricing power, improve gross margins, and reduce dependence on third-party suppliers.

6.3 Expanding Internationally

International markets represent one of the company’s largest long-term growth opportunities. Having established operations in the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA), FirstCry has demonstrated that its integrated parenting ecosystem can be adapted beyond India.

The company’s future strategy will likely focus on strengthening these markets through localized merchandising, enhanced customer experiences, efficient supply chains, and expansion of its physical and digital presence. Success in these regions could serve as a blueprint for entering additional international markets with favorable demographics and increasing demand for organized childcare retail, thereby reducing dependence on India for future growth.

6.4 Growing GlobalBees into a Major Consumer Brand Platform

GlobalBees provides FirstCry with an opportunity to diversify beyond the parenting category by building and scaling digital-first consumer brands across multiple industries. As the platform expands its portfolio, it can leverage shared capabilities in technology, marketplace management, branding, logistics, and supply chain operations to accelerate growth.

Over time, GlobalBees could evolve into a significant consumer brand platform in its own right, generating substantial revenue independently of FirstCry’s core childcare business. This diversification reduces business concentration risk while creating another engine for long-term value creation.

6.5 Building an AI-Driven Parenting Ecosystem

Artificial intelligence is expected to play an increasingly important role in FirstCry’s future strategy. By leveraging customer data, child profiles, purchase behavior, and predictive analytics, the company can create highly personalized parenting experiences that extend beyond traditional e-commerce.

AI can enable proactive product recommendations, personalized parenting guidance, automated replenishment reminders, intelligent customer support, and more efficient inventory planning. As these capabilities mature, FirstCry can transform its platform into an intelligent parenting assistant that helps families make informed decisions throughout their parenting journey while improving operational efficiency and customer engagement. While the company emphasizes technology and personalization, the specific use of AI for these applications represents a forward-looking strategic opportunity rather than a stated FY2025 commitment.

6.6 Creating Multiple Long-Term Revenue Engines

FirstCry’s strategy increasingly focuses on building multiple complementary businesses rather than relying solely on retail sales. Alongside its core commerce platform, the company continues to strengthen private brands, FirstCry Intelli Education, the FirstCry Parenting Community, GlobalBees, franchise operations, and international businesses.

This diversified approach improves business resilience by reducing dependence on any single revenue source. As these businesses mature and reinforce one another, FirstCry will be better positioned to withstand competitive pressures while delivering sustainable long-term growth and improving profitability.

6.7 Vision for Sustainable Growth

FirstCry’s long-term vision is built around creating an ecosystem that grows alongside every family. Instead of competing solely on product assortment or discounts, the company is investing in trusted brands, technology, customer relationships, education, and community engagement to create lasting competitive advantages.

If FirstCry continues executing this strategy effectively, it has the potential to strengthen its leadership in India’s parenting market while establishing a meaningful international presence. Its integrated ecosystem, combined with disciplined expansion and continued innovation, positions the company to create sustainable value for customers, franchise partners, shareholders, and other stakeholders over the long term.

Source: FirstCry Annual Report 2024-25