MathCo’s Financial Growth and Profitability Insights for FY25

MathCo, a data and analytics solutions provider, has achieved a modest increase in operations while showing a notable rise in profitability for the fiscal year concluding in March 2025. The operating revenue for the firm edged up by 0.5% to Rs 501.5 crore for FY25 compared to Rs 499 crore from the previous fiscal, as indicated by its consolidated financial report obtained from the Registrar of Companies (RoC).

MathCo, previously known as The Math Company, is an artificial intelligence and machine learning enterprise aimed at assisting organisations in leveraging intelligence, generating measurable value, and becoming autonomous in data management. The revenue derived from these services constituted the entirety of the company’s income. When other income of Rs 21.5 crore is added, MathCo’s total earnings for FY25 reached Rs 523 crore, in contrast to Rs 517 crore in FY24.

Employee benefit expenses accounted for the majority of the company’s costs, making up 84% of total expenditures, although it dipped by 7% to Rs 374 crore in FY25 from Rs 402 crore in FY24. IT expenditures remained stable at Rs 12 crore, while depreciation expenses increased to Rs 12.5 crore, up from Rs 8 crore the year prior. Travel costs rose to Rs 12.6 crore, and financing expenses increased to Rs 3 crore during FY25.

Overall, the total expenses fell by 9%, landing at Rs 444 crore for FY25, down from Rs 489 crore in FY24. For in-depth details regarding expenses, refer to various sources.

Through effective cost management, MathCo was able to amplify its profit by 4.3 times, reaching Rs 64 crore in FY25, up from Rs 15 crore in FY24. The return on capital employed (ROCE) and EBITDA margin saw improvement, standing at 11.71% and 14.36% respectively.

On a per-unit basis, MathCo incurred Rs 0.89 to generate a rupee of operating revenue in FY25, marking a decline from Rs 0.98 the previous year. The company concluded the fiscal year with cash and bank balances amounting to Rs 53 crore, while its current assets totalled Rs 454.5 crore.

Reports indicate that MathCo has successfully raised a cumulative total of $53 million in funding to date, with Brighton Park Capital and Patni Wealth Advisors as the principal investors, holding 16% and 13% stakes in the company respectively.