iD Fresh Food Reports Strong Growth in FY25

iD Fresh Food, a ready-to-cook food brand, has continued its growth trajectory in FY25 after a successful turnaround in FY24 when it achieved profitability. The company’s revenue has risen by 22% year-on-year for the fiscal year ending March 2025, while its profit has surged over five times during the same period.

According to the firm’s annual financial statements sourced from the Registrar of Companies (RoC), iD Fresh Food’s operating revenue escalated to Rs 681.37 crore in FY25 from Rs 557.84 crore. Based in Bengaluru, the majority of its revenue stems from the sale of finished goods such as parotas and assorted batters, which constituted 76.2% of its total operating income at Rs 518.93 crore. The remaining 23.8%, amounting to Rs 162.2 crore, was derived from traded goods like dairy products, chapatis, beverages, frozen fruits, and chutneys.

Revenue Breakdown of iD Fresh Food

The breakdown of revenue items is illustrated in the accompanying chart. iD Fresh Food’s cost structure reveals that the cost of goods sold represented its largest expense, constituting 50% of total costs. This expense increased by 17% to Rs 332.17 crore in FY25, up from Rs 283.34 crore in FY24.

Simultaneously, employee benefits expenses rose by 18% to Rs 143.91 crore, which included ESOP costs of Rs 10.31 crore. Marketing and advertising expenditures saw an 11% year-on-year increase, reaching Rs 52.34 crore.

Other Expenses Incurred by iD Fresh Food

Additionally, rent expenses soared by 26% to Rs 27 crore, while transportation costs experienced a significant spike of 45% to Rs 18.93 crore in FY25. Other overheads, encompassing power and fuel, legal and professional fees, repairs and maintenance, alongside travel expenses, contributed an additional Rs 87 crore, bringing total expenses to Rs 661.49 crore. Cash outflows from operating activities tripled to Rs 33.35 crore in FY25.

The impressive revenue growth of the company outpaced the increase in total expenses. Consequently, iD Fresh Food’s profit surged over five times to Rs 25.87 crore, compared to Rs 4.43 crore in FY24. It should be noted that the deferred tax credit of Rs 24.88 crore was excluded from the analysis, as it is classified as a non-cash item and does not represent the company’s core operations.

Unit Economics and Financial Health

On a unit level, the Premji Invest-supported firm spent Rs 0.97 to generate a rupee of operating revenue in FY25, an improvement from Rs 1 in FY24. Furthermore, it enhanced its EBITDA margin to 8.68% during the last fiscal year. As of March 2025, iD Fresh Food reported current assets of Rs 206.74 crore, which included Rs 99.21 crore in cash and bank balances.

Based on various sources from startup data intelligence platforms, iD Fresh Food has raised approximately $120 million to date from investors, with Premji Invest and NewQuest Capital being among the primary backers.