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Tag: financial

  • MapMyIndia Achieves Rs 140 Crore Revenue in Q4 FY25 with a 29% Rise in Profit

    MapMyIndia Achieves Rs 140 Crore Revenue in Q4 FY25 with a 29% Rise in Profit


    MapMyIndia Reports Impressive Financial Growth for Q4 FY25

    MapMyIndia, under the umbrella of CE Info Systems, has revealed its financial performance for the fourth quarter of FY25. The highlights show an impressive year-on-year revenue increase of over 34% compared to Q4 FY24.

    The revenue generated from operations by MapMyIndia rose to Rs 143 crore in Q4 FY25, a significant uptick from Rs 107 crore recorded in Q4 FY24. Additionally, for the entire fiscal year, revenue surged by 22%, amounting to Rs 463 crore in FY25 up from Rs 379 crore in FY24, as detailed in the company’s consolidated quarterly report sourced from the NSE.

    MapMyIndia’s primary revenue driver has been its digital map data, GPS navigation, location-based services, and IoT solutions, representing 88% of total revenue. This segment saw a stellar growth of 51%, bringing in Rs 127 crore in Q4 FY25. In contrast, income from device sales contributed Rs 16.5 crore.

    The major expenses for MapMyIndia were related to IoT devices, employee benefits, and outsourced technical services, leading to a rise in total costs to Rs 90 crore in Q4 FY25, compared to Rs 72 crore in Q4 FY24. For the fiscal year, overall costs increased to Rs 306 crore in FY25.

    As a result of this operational scale, MapMyIndia experienced a 29% rise in profit, reaching Rs 49 crore for Q4 FY25, up from Rs 38 crore during the same quarter last year. Annually, profit also grew by 10% to Rs 148 crore in FY25, compared to Rs 134 crore in FY24.

    On 9th May 2025, MapMyIndia’s shares closed at Rs 1,845 each, giving the company a market capitalization of Rs 10,040 crore ($1.17 billion).

  • Swiggy Reports ₹4,410 Crore Revenue in Q4 FY25, Instamart Soars by 115%

    Swiggy Reports ₹4,410 Crore Revenue in Q4 FY25, Instamart Soars by 115%



    Swiggy Reports 45% Growth in Q4 FY25 Revenue

    Swiggy Records 45% Growth in Q4 FY25 Revenue

    Swiggy has achieved a remarkable 45% year-on-year increase in its operating revenue, climbing to Rs 4,410 crore during Q4 FY25, compared to Rs 3,045 crore in Q4 FY24. Despite this growth, the Bengaluru-based company experienced a substantial 95% rise in losses during the same timeframe.

    Key Revenue Contributors

    The food delivery segment remains a significant driver of revenue for Swiggy, accounting for 37% of the total income in Q4 FY25. Revenue from this division saw an 18% increase, reaching Rs 1,629 crore, up from Rs 1,375 crore in Q4 FY24.

    The quick commerce segment exhibited exceptional performance, with revenue soaring by 115% to Rs 689 crore in Q4 FY25 from Rs 320 crore in Q4 FY24. This notable growth in gross order value (GOV) was fuelled by an increase in order frequency and the establishment of additional dark stores.

    Significant Contributions from Scootsy Logistics

    Scootsy Logistics played a crucial role in Swiggy’s overall operating revenue, contributing 45% to the total. Revenue from this segment rose by 58% year-on-year, amounting to Rs 2,004 crore in Q4 FY25, compared to Rs 1,265 crore in Q4 FY24. During this quarter, Swiggy allocated Rs 1,000 crore towards expansion and growth for Scootsy.

    Overall Financial Performance

    Swiggy’s total revenue, including contributions from Dine Out, Genie, Swiggy Mini, and other non-operating income, reached Rs 4,531 crore in Q4 FY25. Over the full fiscal year ending March 2025, total revenue rose by 35% to Rs 15,227 crore from Rs 11,247 crore in FY24.

    Expenditure Overview

    On the expenditure side, the procurement of FMCG products for supply chain distribution constituted 33% of overall costs, which increased by 52% to Rs 1,854 crore in Q4 FY25. Additionally, delivery charges grew by 27%, amounting to Rs 1,161 crore in Q4 FY25. Swiggy also recorded expenses of Rs 695 crore and Rs 978 crore on employee benefits and advertising, respectively.

    Overall, Swiggy’s total expenses for the quarter rose by 53% to Rs 5,609 crore, an increase from Rs 3,668 crore in Q4 FY24. On a fiscal year-on-year basis, total expenses surged to Rs 18,725 crore in the quarter ending March 2025, compared to Rs 13,947 crore in FY24.

    Losses and Stock Performance

    The substantial 53% increase in expenses resulted in a 95% surge in losses, which reached Rs 1,081 crore in Q4 FY25, up from Rs 555 crore in Q4 FY24. On an annual basis, Swiggy’s losses grew by 33% to Rs 3,117 crore in FY25 from Rs 2,350 crore in FY24.

    Swiggy experienced a slight drop of 0.25% in its share price today, trading at Rs 314.4 (as of 16:20), with a total market capitalisation of Rs 72,000 crore.

    Zomato’s Financial Snapshot

    In comparison, Zomato’s parent company, Eternal, reported a 64% increase in revenue from operations, reaching Rs 5,833 crore in Q4 FY25, compared to Rs 3,562 crore in Q4 FY24. Despite this growth, the Gurugram-based firm saw its profit after tax decline to Rs 39 crore in Q4 FY25.


  • CaratLane Achieves ₹883 Crore Revenue in Q4 FY25

    CaratLane Achieves ₹883 Crore Revenue in Q4 FY25


    CaratLane Achieves Impressive Growth in Q4 FY25

    CaratLane, the omnichannel jewellery brand, has marked a significant milestone with a 23% year-on-year increase in growth during the fourth quarter of the previous fiscal year. Furthermore, its EBIT soared to Rs 70 crore within the same timeframe.

    The total income of CaratLane, excluding bullion and digital gold sales, experienced a remarkable rise to Rs 883 crore in Q4 FY25, compared to Rs 717 crore in Q4 FY24. These results were highlighted in Titan’s quarterly report, released through the National Stock Exchange (NSE).

    Growth Across Categories

    The studded jewellery segment recorded a 19% growth, while other categories—encompassing gold jewellery, gold coins, and additional items—demonstrated an even higher growth rate of 44% during this period.

    Expansion of CaratLane’s Store Network

    According to the press release from the company, CaratLane has expanded its footprint by adding 17 new stores across India, resulting in a total of 322 locations spanning 139 cities. In the quarter ending March 2025, CaratLane had one international outlet situated in New Jersey, United States.

    Brand Performance Metrics

    With a 22% rise in brand searches, CaratLane’s EBIT for Q4 FY25 reached Rs 70 crore, accompanied by a margin of 7.9%.

    In a broader context, Titan’s overall jewellery business, which includes Tanishq and Mia, achieved a remarkable 25% growth, amounting to Rs 11,232 crore in Q4 FY25. Similarly, its domestic business flourished, increasing by 23% to Rs 10,845 crore in the same period.

    Annual Performance Overview

    For the full fiscal year FY25, CaratLane reported a 24% year-on-year revenue climb, growing to Rs 3,583 crore from Rs 2,889 crore in FY24. Nevertheless, its earnings before tax (EBT) reached Rs 296 crore, resulting in a margin of 8.3% during this same timeframe.

    Competitive Landscape

    CaratLane faces direct competition from brands such as Bluestone, Giva, and Melorra. Recently, Bluestone received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO), with plans to raise Rs 1,000 crore through a new issue of equity shares.

  • Arya.ag Sees 70% Profit Surge with Rs 447 Crore Revenue in FY25

    Arya.ag Sees 70% Profit Surge with Rs 447 Crore Revenue in FY25



    Aarya.ag: 27% Year-on-Year Growth in Agritech Financing for FY25

    Aarya.ag Achieves 27% Growth in Agritech Financing for FY25

    Aarya.ag, a leader in the agritech and financing sector, has announced a remarkable 27% year-on-year increase in operating revenue for the fiscal year ending March 2025, as noted in their recent press release. Additionally, the firm based in Gurugram reported an impressive 70% rise in profit after tax (PAT) during this same timeframe.

    Financial Highlights of Aarya.ag for FY25

    In its strategic financial report for FY25, Aarya.ag disclosed that its net revenue reached Rs 447 crore, while the gross revenue was documented at Rs 5,738.7 crore. Enhanced efficiency and cost optimization across the platform contributed to a growth in Aarya.ag’s take rate (marketplace fees), which increased to 3.8% in FY25, up from 3.4% in FY24.

    Moreover, profit before tax (PBT) exhibited a significant year-on-year growth of 95%, amounting to Rs 43 crore in FY25.

    Commodity Management and Financing Initiatives

    During FY25, Aarya.ag managed agricultural commodities worth Rs 26,961 crore in its warehouses, handling a total volume of 7.37 million metric tonnes (MMT). The company further asserts it disbursed agricultural inputs valued at Rs 14,182 crore from its warehouses directly to customers, utilizing its own financial resources.

    Aarya.ag also provided loans amounting to Rs 2,000 crore backed by stored crops, creating an efficient platform for farmers that includes storage, credit, and marketing options. For context, interest income from financing reached Rs 55.4 crore in FY24.

    Strategic Partnerships and Future Growth Plans

    The firm expanded its strategic alliances with banks for co-lending, processors for value-added commerce, and focused on collaborations with climate-focused entities. Looking ahead to FY26, Aarya.ag plans to broaden its geographic reach and enhance its technological capabilities.

    Funding Overview

    Aarya.ag has successfully raised a total of $174 million in funding to date, with Lightrock Venture and Aspada Investment Company acting as its prominent investors. Recently, the company secured a commitment of $19.8 million from the United States International Development Finance Corporation (DFC) to back a debt facility for its agri-commerce branch, Aryatech.


  • CarTrade Sees Revenue Surge to ₹169 Crore in Q4 FY25, Profit Doubles

    CarTrade Sees Revenue Surge to ₹169 Crore in Q4 FY25, Profit Doubles



    CarTrade Reports Strong Financial Results: 17% Revenue Growth

    CarTrade Reports Strong Financial Results: 17% Revenue Growth

    CarTrade, a leading automobile classifieds portal, revealed its financial results for the fourth quarter of the last fiscal year (Q4 FY25) on Wednesday. The company’s revenue exhibited a 17% year-on-year growth in comparison to Q4 FY24, while profits experienced a two-fold increase during the same period.

    In Q4 FY25, CarTrade’s operational revenue reached Rs 169 crore, a rise from Rs 145 crore in Q4 FY24, according to the firm’s unaudited consolidated financial results obtained from the National Stock Exchange. For the fiscal year that concluded in March 2025, CarTrade’s revenue surged by 31%, amounting to Rs 641 crore. When factoring in additional undisclosed income, the company’s total income for Q4 FY25 reached Rs 189 crore, up from Rs 161 crore in Q4 FY24.

    Segments of Operation

    Based in Mumbai, CarTrade functions across three key segments: Consumer, Remarketing, and Classifieds. Income generated from the consumer segment accounted for 37% of total operating revenue, increasing to Rs 63 crore in Q4 FY25 from Rs 49 crore in the same quarter of FY24. Revenue from the remarketing and classified segments stood at Rs 59 crore and Rs 47 crore, respectively, during the fourth quarter of this fiscal year.

    Full Fiscal Year Performance

    For the complete fiscal year (FY25), revenue from the consumer segment amounted to Rs 238 crore, while collections from the remarketing and classified segments reached Rs 212 crore and Rs 192 crore, respectively.

    Expense Analysis

    On the expenditure side, employee benefit expenses constituted 52% of total spending, which grew modestly by 6% to Rs 71 crore during this period. Overall expenses, including other costs, rose by 4% to Rs 136 crore in Q4 FY25 from the Rs 131 crore recorded in Q4 FY24. For the entire fiscal year, total expenses escalated to Rs 543 crore from Rs 457 crore in FY24.

    Profit Growth

    The notable revenue growth coupled with controlled expenses led CarTrade to double its net profit to Rs 46 crore in Q4 FY25, compared to Rs 23 crore in Q4 FY24. On a fiscal basis, the company’s profit increased significantly to Rs 145 crore in FY25.

    Market Performance

    On the stock market today, CarTrade observed a 5.8% rise in its share price, trading at Rs 1,721 (as of 12:50), with a total market capitalization of Rs 8,168 crore.


  • NephroPlus Achieves ₹566 Crore in Revenue and ₹35 Crore Profit for FY24

    NephroPlus Achieves ₹566 Crore in Revenue and ₹35 Crore Profit for FY24


    NephroPlus Reports 29% Increase in Operating Revenue

    NephroPlus, a leading dialysis service provider, announced a year-on-year growth of 29% in operating revenue for the fiscal year ending March 2024. This Hyderabad-based company has successfully transitioned to profitability, contrasting its previous Rs 12 crore loss reported in FY23.

    According to its consolidated financial statement filed with the Registrar of Companies (RoC), NephroPlus’ operating revenue climbed to Rs 566 crore in FY24, up from Rs 438 crore in FY23.

    Dialysis Centres and Patient Care

    NephroPlus operates over 275 dialysis centres across more than 170 cities in India, providing care to nearly 20,000 patients each month. Revenue from these services constituted 95% of the company’s total earnings in FY24.

    Expense Breakdown

    On the expenditure front, the most significant cost remained materials, which increased by 19% to Rs 169 crore, making up over 31% of the total expenses. Meanwhile, employee benefit expenses experienced a slight reduction, falling to Rs 91 crore from Rs 97 crore in FY23. However, healthcare professional fees saw a dramatic rise of 90%, reaching Rs 59 crore. Additionally, hospital fees increased from Rs 48 crore to Rs 56 crore, and other operational expenses rose to Rs 166 crore.

    Overall, NephroPlus reported a total cost increase of 19.7%, amounting to Rs 541 crore in FY24. For a detailed breakdown of expenses, readers may refer to various financial sources.

    Profitability and Financial Performance

    The company’s strategic emphasis on cost control and enhanced margins enabled NephroPlus to achieve a net profit of Rs 35 crore in FY24, a significant turnaround from the Rs 12 crore loss posted the previous year. The Return on Capital Employed (ROCE) improved to 9.40%, and the EBITDA margin reached 18.96%. On a unit basis, NephroPlus spent Rs 0.96 to generate each rupee of revenue in FY24.

    Current Assets and Financial Position

    As of March 2024, NephroPlus reported current assets valued at Rs 390 crore, including Rs 61 crore in cash and bank balances.

    Funding and Expansion Plans

    As reported by various startup data intelligence platforms, NephroPlus has raised around $212 million in funding to date, with IFC and Bessemer Venture Partners acting as its primary investors. The company’s co-founder and CEO, Vikram Vuppala, holds an 11.6% stake in the firm.

    Recently, NephroPlus expanded its footprint by acquiring seven new dialysis clinics in the Philippines. Additionally, the company is set to launch its clinics in Saudi Arabia later this year.

  • FarEye Reduces Losses by 63% While Achieving Steady Growth in FY24

    FarEye Reduces Losses by 63% While Achieving Steady Growth in FY24

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    FarEye Experiences Modest Growth in Logistics Sector

    FarEye, a well-established SaaS logistics company, has achieved only a modest double-digit year-on-year increase in its operating revenue for the fiscal year concluding in March 2024. However, it made significant progress in reducing losses, slashing them by nearly two-thirds during the same period.

    According to its consolidated financial statements recently submitted to the Registrar of Companies (RoC), FarEye’s operational revenue grew by 13% to Rs 157 crore in FY24, up from Rs 139 crore in FY23.

    This growth represents a substantial slowdown compared to the impressive 40% year-on-year increase the firm reported in FY23. FarEye specializes in providing software solutions for managing supply chains and deliveries for large logistics platforms across industries, such as manufacturing and e-commerce. The company’s revenue is exclusively derived from logistics services.

    Cost Structure Improvements in FarEye’s Finances

    FarEye’s cost structure underwent a remarkable overhaul, resulting in a 39% reduction in employee benefit expenses, which amounted to Rs 153 crore in FY24. Additionally, information technology expenses decreased by 6%, bringing them down to Rs 46 crore. Legal and advertising expenses saw significant reductions of 43% and 60% respectively, now standing at Rs 23 crore and Rs 8 crore. Other overheads also decreased by 22% to Rs 39 crore in FY24.

    Overall, FarEye’s total expenses fell by 34% to Rs 269 crore in FY24, a decrease from Rs 410 crore in the previous fiscal year. For a comprehensive breakdown of expenses, further details can be referenced from various sources.

    Reduction in Losses and Financial Metrics

    The company’s rigorous cost management strategies led to a remarkable 63% decrease in losses, which amounted to Rs 89 crore in FY24, a significant improvement from the loss of Rs 243 crore in FY23. FarEye’s Return on Capital Employed (ROCE) and EBITDA margin improved to -26.82% and -45.83%, respectively. On a per-unit basis, FarEye spent Rs 1.71 to generate one rupee of revenue in FY24, a notable improvement from Rs 2.95 in FY23.

    The Noida-based enterprise’s current assets total Rs 372 crore, of which Rs 305 crore are held in cash and bank balances.

    Funding Background and Investor Insights

    FarEye has successfully secured approximately $152 million in funding to date, with TCV, Fundamentum, Eight Roads Ventures, and Elevation Capital being its main investors. The company’s co-founders, Kushal Nahata and Gautam Kumar, collectively hold a 13% stake in the company.

    Despite being regarded as an underperformer, FarEye’s challenges may concern investors who placed bets on its potential within the rapidly expanding logistics market. Focused on last-mile delivery solutions, FarEye has identified a lucrative niche, with last-mile delivery accounting for over 30% of logistics costs. Yet, persistent high costs stemming from a global presence and slower-than-expected sales growth are areas of concern. The performance in FY25 will likely depend on broader market disruptions and their impact on both current and prospective clients of FarEye. Expectations for a dramatic shift in trajectory in the near future appear limited. Although the firm has robust cash reserves, another year of mediocre performance could diminish its impact in the market, which could subsequently affect future funding opportunities and valuations.

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  • Nat Habit Sees 80% Revenue Surge in FY24, While Losses Hold Steady

    Nat Habit Sees 80% Revenue Surge in FY24, While Losses Hold Steady



    Nat Habit: 80% Revenue Increase in FY24 | Personal Care Startup


    Nat Habit

    Nat Habit, a personal care startup dedicated to fresh and natural beauty products, experienced an 80% increase in revenue for the fiscal year ending March 2024. Even with this significant growth, the company’s net losses showed minimal change during the same period.

    Financial Overview

    The operations revenue for Nat Habit climbed 80% to Rs 72 crore in FY24, up from Rs 40 crore in FY23, as outlined in its financial documentation sourced from the Registrar of Companies (RoC).

    About Nat Habit

    Founded in 2018 by Swagatika Das and Gaurav Agarwal, Nat Habit provides Ayurvedic personal care items such as shampoos, face washes, and moisturisers. Sales from these products were the exclusive source of revenue for the company in FY24.

    Expense Analysis

    Advertising costs were identified as the largest expense, increasing by 38.5% to Rs 36 crore, making up nearly 40% of total outgoings. Additionally, employee benefits rose to Rs 14 crore, more than doubling from Rs 6.5 crore in FY23. Raw material expenses reached Rs 12 crore, while transportation and other operating expenses were reported at Rs 11 crore and Rs 18 crore, respectively, during the fiscal year.

    Total Expenses

    Overall, the company’s total expenses grew by 65.5% to Rs 91 crore in FY24, compared to Rs 55 crore in FY23. A detailed breakdown of expenses can be consulted through various sources available.

    Losses and Performance Metrics

    Despite the revenue growth outpacing expenses, the net losses remained largely unchanged at Rs 17.75 crore in FY24, slightly up from Rs 17.6 crore in FY23. The Return on Capital Employed (ROCE) and EBITDA margin were recorded at -24.65% and -21.58%, respectively. The company spent Rs 1.26 to generate one rupee of operating revenue in FY24, in contrast to Rs 1.38 in FY23.

    Assets Overview

    Based in Gurubram, the company reported current assets valued at Rs 58 crore in FY24, which included Rs 41 crore in cash and bank balances.

    Funding and Shareholder Management

    Nat Habit has successfully raised approximately $16 million in funding to date, with Peak XV Partners, Fireside Ventures, and Whiteboard Capital serving as lead investors. The co-founders, Swagatika Das and Gaurav Agarwal, collectively own 33.1% of the company.

    Share Buyback

    In FY24, Nat Habit repurchased around 6 lakh shares at a price of Rs 250 each, aiming to improve its ownership structure and enhance shareholder value. Concurrently, the company significantly increased its authorised share capital from Rs 3.51 crore to Rs 29.3 crore, potentially to position itself for future fundraising efforts.


  • Boult Audio Surges 40% in Revenue, Surpassing Rs 700 Crore in FY24

    Boult Audio Surges 40% in Revenue, Surpassing Rs 700 Crore in FY24



    Boult Audio’s Revenue Surge and Profit Decline in FY24


    Boult Audio’s Revenue Surge and Profit Decline in FY24

    Boult Audio, a bootstrapped consumer electronics brand, reported a remarkable 40% increase in operating revenue for the fiscal year ending March 2024. This achievement sets Boult apart as the only competitor among peers like Noise and boAt to experience such growth in this timeframe. Nevertheless, the impressive top-line growth came with a downside, as the company’s profit saw a significant decline of 37%.

    According to the financial statement sourced from the Registrar of Companies (RoC), Boult Audio’s revenue from operations rose to Rs 697 crore in FY24, up from Rs 498 crore recorded in FY23.

    About Boult Audio

    Founded in 2017, Boult Audio focuses on designing, developing, and manufacturing various audio devices, including wireless earbuds, headphones, smartwatches, and speakers. The revenue generated from the sale of these products stood as the company’s only source of income.

    Revenue Breakdown

    The majority of Boult’s revenue was generated from domestic sales, which grew by 45% to reach Rs 620 crore in FY24. Meanwhile, revenue from international sales remained stable at Rs 77 crore, contributing 11% to the overall revenue. Additionally, the company earned an extra Rs 5 crore from non-operating revenue, raising its total revenue to Rs 702 crore in FY24 compared to Rs 501 crore in FY23.

    Cost Analysis

    On the expenditures side, the most significant cost driver—cost of materials consumed—increased by 25% to Rs 402 crore, representing nearly 58% of total expenses. Advertising expenses surged by 74% to Rs 162 crore, while post-supply discounts escalated by 84% to Rs 70 crore. Together, these two costs comprised over 33% of the total expenses. Employee benefit expenses also saw a rise of more than 50% year-on-year, amounting to Rs 26 crore in FY24.

    Other overheads, including administrative and general expenses, added Rs 39 crore to the overall costs. In total, Boult’s expenses grew by 41% to Rs 699 crore in FY24. For a detailed cost breakdown, refer to various financial sources.

    Profit and Performance Metrics

    With overall costs outstripping revenue growth, Boult Audio’s net profit fell by 37%, reaching Rs 2.5 crore in FY24 compared to Rs 4 crore in FY23. The company reported its return on capital employed (ROCE) and earnings before interest, tax, depreciation, and amortisation (EBITDA) margin at 52.94% and 2.64%, respectively. On a unit basis, Boult Audio spent Rs 1.00 to generate each rupee of revenue.

    Current Assets and Inventory

    As of March 2024, Boult recorded total current assets of Rs 211 crore, which included Rs 9 crore in cash and bank balances. The company’s inventory reached Rs 964.5 crore for the same period, marking a 63% increase from FY23. This notable inventory increase could indicate that Boult is preparing for heightened sales volume, potentially ahead of festive seasons or new product launches.

    Corporate Social Responsibility and Ownership

    Boult made its first recorded corporate social responsibility (CSR) contribution of Rs 12.23 lakh in FY24.

    According to various reports, Boult Audio has remained self-funded to this day. The co-founders, Varun Gupta and Tarun Gupta, together hold a 49.5% stake in the company. Vinod Gupta, a director, owns 23.76%, and Pankhuri Gupta, who leads the design team at Boult, holds a 25.74% stake.

    Competitive Landscape

    Boult competes directly with homegrown electronics brands such as boAt and Noise. In FY24, boAt, the market leader, reported a revenue of Rs 3,118 crore but ended the year with a loss of Rs 80 crore. Following them, Noise reported Rs 1,431 crore in revenue alongside a loss of Rs 19 crore. Notably, Noise has ventured away from its bootstrapped origins, securing two funding rounds from global audio brand Bose within the fiscal year.

    Market Pressures and Future Outlook

    Amidst strong aspirations, margin pressures remain a significant challenge in this sector, primarily due to limited differentiation and fierce competition in the middle and mass segments, where most companies compete. This competitive climate is reflected in both increased advertising expenses and discounts. In contrast, higher-end brands like Bose, Apple, Sennheiser, and Sony maintain a clear advantage in pricing and brand perception, driven by impulse purchases from consumers. Consequently, other players are perceived as ‘disposable’ or low-risk options, and they find themselves caught in a low-margin competition.

    For brands to stand out from the crowd and break free from this constraint, a focus on innovation and unique value propositions will be essential, though it remains largely unaddressed as many brands chase revenue growth.

    Additionally, customer service practices have been reduced to mere exchanges, if they occur at all. There is a temptation to dismiss the pursuit of topline growth as a superficial goal. However, given the ingenuity and resourcefulness these companies have exhibited thus far, there is hope that improvements will come sooner rather than later.


  • XpressBees Achieves EBITDA Profitability in FY24 with a Remarkable 60-Fold Growth in Warehousing Sector

    XpressBees Achieves EBITDA Profitability in FY24 with a Remarkable 60-Fold Growth in Warehousing Sector



    XpressBees Reports Modest Growth in E-commerce Logistics for FY24

    XpressBees Reports Modest Growth in E-commerce Logistics for FY24

    XpressBees, an e-commerce-focused logistics and supply chain company, reported modest double-digit growth for the fiscal year ending March 2024. Despite a rise in expenses, the Pune-based firm achieved EBITDA positivity during this period.

    According to the consolidated financial statement filed with the Registrar of Companies, XpressBees recorded a 12% increase in operating revenue, amounting to Rs 2,831 crore in FY24, up from Rs 2,531 crore in FY23.

    Services Offered by XpressBees

    XpressBees provides a variety of services that include B2B/B2C express delivery, cross-border logistics, and warehousing solutions for several e-commerce platforms like Snapdeal, Myntra, Meesho, Netmeds, and Bigbasket.

    Revenue Breakdown and Growth in New Segments

    The logistics services segment remained the cornerstone of XpressBees’ income, contributing 97% of the total revenue. Notably, the company’s warehousing segment, although smaller, exhibited tremendous growth, rising 60 times from Rs 0.77 crore in FY23 to Rs 48 crore in FY24, indicating a strong focus on expanding non-courier business avenues.

    The remaining revenue originated from warehouse services, totalling Rs 48 crore, and support services, which brought in Rs 31 crore—both sectors marking remarkable growth.

    Additionally, XpressBees garnered Rs 109 crore from non-operating activities, elevating its total income to Rs 2,940 crore in FY24.

    Expenditure Analysis of XpressBees

    On the expenditure front, the courier charges constituted the largest share of costs for XpressBees, jumping 12% to Rs 1,816 crore in FY24. Linehaul charges increased modestly by 6% to Rs 494 crore, while benefits for employees rose by nearly 10% to Rs 355 crore in the same fiscal year. Depreciation costs surged by 49% to Rs 159 crore, with additional operational expenses contributing Rs 319 crore.

    Overall, XpressBees’ total expenses rose by 13% year-on-year, reaching Rs 3,143 crore in FY24, compared to Rs 2,785 crore in FY23. For a comprehensive breakdown of expenses, various sources can be consulted.

    Financial Performance and Losses

    With expenses outpacing revenue growth, XpressBees experienced an increase in net loss of 11%, which rose to Rs 200 crore in FY24 from Rs 180 crore in FY23. Despite these challenges, the Pune-based firm recorded EBITDA positivity, reporting Rs 5 crore in EBITDA for the same period. The return on capital employed (ROCE) stood at -8.32%, and the EBITDA margin was modest at 0.17%. On a per-unit basis, XpressBees expended Rs 1.11 to generate each rupee in revenue during FY24.

    Current Assets and Recent Acquisitions

    XpressBees listed current assets amounting to Rs 1,867 crore for FY24, which included Rs 1,331 crore in cash and bank balances.

    Recently, XpressBees completed the acquisition of courier company Trackon and appointed Uday R. Sharma as Chief Business Officer for B2B, 3PL, and cross-border logistics. Startup Superb initially disclosed this acquisition in July 2023.

    Per data from various sources, XpressBees has successfully raised a total of $625 million in funding to date, with Norwest Venture Partners and Alibaba Group being the primary investors. The company’s Co-Founder and CEO, Amitava Saha, holds a 3.15% stake in the business.