GenieMode’s Business Performance in B2B E-commerce

GenieMode has made significant strides as a business-to-business e-commerce startup backed by Info Edge during the fiscal year ending March 2025. The company achieved a notable milestone by surpassing Rs 650 crore in gross merchandise value (GMV), while effectively controlling its expenses to reduce losses by 35% compared to the previous year in FY25.

Revenue Growth and Market Focus

In FY25, GenieMode’s gross revenue rose by 21%, reaching Rs 673 crore, up from Rs 556 crore in FY24. This financial data is corroborated by the firm’s consolidated financial statement obtained from the Registrar of Companies (RoC). The platform serves as a cross-border e-commerce marketplace centred around B2B transactions in furniture, home textiles, apparel, and accessories, which accounted for 98% of the company’s income. This segment saw a year-on-year growth of 20%, increasing from Rs 549 crore in FY24 to Rs 657 crore in FY25.

Key Expenses and Financial Management

The largest expense for the company was material costs, representing 75% of total expenses, which rose by 18% to Rs 551 crore in FY25, compared to Rs 467 crore in FY24. Conversely, employee benefit expenses were reduced by 13%, amounting to Rs 69 crore in FY25, down from Rs 79 crore in FY24. Legal and professional fees escalated by 41% to Rs 38 crore, while finance costs exceeded Rs 14.5 crore, over twice the previous figure. Additional costs accounted for Rs 51.5 crore, leading to an overall total expense of Rs 731 crore in FY25.

Loss Reduction and Financial Ratios

Ultimately, GenieMode succeeded in reducing its losses by 35%, bringing the figure down to Rs 51 crore in FY25 from Rs 78 crore in FY24. The company’s return on capital employed (ROCE) and EBITDA margin stood at -10.76% and -7.58%, respectively. In the last fiscal year, the company reported a spending of Rs 1.09 for every rupee generated in operating revenue.

Asset Overview and Investment Details

On the balance sheet, this Gurugram-based enterprise disclosed total assets valued at Rs 690.5 crore in FY25, with current assets comprising Rs 544 crore, inclusive of Rs 42 crore in cash and bank balances. As per various reports, GenieMode has successfully raised $92 million in funding to date, with Info Edge, Tiger Global, and Multiples Equity as primary investors. The co-founders, Amit Sharma and Tanuj Gangwani, presently hold 39% ownership of the company.