Cashify Financial Performance Boosted by Amazon’s Support in FY25

Cashify has reported remarkable financial outcomes in the fiscal year concluding in March 2025, showcasing its continuous growth. The re-commerce platform, supported by Amazon, achieved a 17% increase in revenue, exceeding the Rs 1,000 crore milestone, while also reducing losses by 80% during FY25.

The operational revenue of Cashify escalated to Rs 1,096 crore in FY25, rising from Rs 935.07 crore in FY24, as indicated by the company’s consolidated annual financial statements from the Registrar of Companies (RoC). Cashify provides a platform for users to buy and sell pre-owned electronics, with a primary focus on mobile phones and laptops. The organisation collaborates with original equipment manufacturers like Xiaomi, OnePlus, and Samsung to facilitate exchange programs. Additionally, Cashify partners with e-commerce giants such as Amazon and Flipkart to enhance the trading process of refurbished devices for consumers.

Revenue Growth from Pre-owned Devices and Services

Sales of used devices contributed Rs 999 crore, reflecting a 17% year-on-year growth over the last fiscal year. Revenue from supplementary services, including repairs and commissions, surged by 22% to reach Rs 97 crore. Other income, which encompasses interest on deposits, contributed Rs 26 crore to the total income, amounting to Rs 1,122 crore for FY25.

Expenses and Loss Reduction

Cashify’s expenses saw a 12% increase, rising to Rs 1,133 crore in FY25 from Rs 1,008 crore in FY24. The predominant expense was attributed to the cost of materials, accounting for 82% of the total expenditure, which climbed by 15% to Rs 924 crore. The employee benefits expense remained relatively stable at Rs 122 crore. Additional overheads, including selling, distribution, marketing, and miscellaneous costs, added another Rs 44 crore to the total outlay. For a comprehensive expense analysis, interested parties are advised to consult various sources.

Despite rising expenses, Cashify successfully narrowed its losses by a substantial 80%, reducing it to Rs 10.5 crore in FY25 from Rs 53 crore in FY24. The company’s EBITDA margin was reported as negative at -2.14%, and the return on capital employed stood at -10.28% during the previous fiscal year.

Asset Position and Future Profitability Goals

By March 2025, Cashify’s cash and cash equivalents were recorded at Rs 68 crore, marking a 25% decline from the previous year’s Rs 91 crore. Current assets amounted to Rs 424 crore in FY25, compared to Rs 383 crore in FY24. Although the firm concluded the last fiscal year with a loss, co-founder Mandeep Manocha expressed optimism about achieving full-year profitability by the close of the ongoing fiscal year (FY26).

Cashify has successfully raised $130 million through multiple funding rounds. Current reports indicate that NewQuest Capital holds the largest external share with a 19.5% stake, followed by Olympus and MIH Ecommerce Holdings. The company faces competition from several market players including Greendust, InstaCash, and Yaantra.