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Ferns N Petals crosses Rs 700 Cr revenue in FY24; losses drop by 78%

EntrackrEntrackr · 1y ago
Ferns N Petals crosses Rs 700 Cr revenue in FY24; losses drop by 78%
Medial

After a flat FY23, Ferns N Petals managed 16% growth in its operating revenue in the fiscal year ending March 2024. At the same time, the firm also narrowed losses by 77% in the same period. Ferns N Petals’ operating revenue increased to Rs 705.4 crore in FY24 from Rs 607.3 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. Ferns N Petals makes money through the sale of cakes, flowers, and customized gifting solutions via its website, third-party e-commerce platforms, company-owned stores, and franchises. It also earns from delivery, convenience, and packing charges, as well as franchise-related income, including one-time onboarding fees and monthly royalties. The company claims to serve in more than 100 countries and has over 400 stores in India. Sales of products such as cakes, flowers, gifts, were the primary contributor, accounting for 91% of the operating revenue, which increased by 15% to Rs 640.75 crore in FY24 from Rs 556.18 crore in FY23. Delivery charges grew by 40% to Rs 45.12 crore in FY24. Income from other sources such as franchise fees and convenience charges added Rs 19.51 crore in FY24. The company also made Rs 7 crore from interest income which took its total revenue to Rs 712 crore in FY24. Geographically, India remained the largest market for Ferns N Petals as 63% of the revenue came from the local operations. It generated Rs 443.58 crore from India in the last fiscal year while collections from UAE and Singapore stood at Rs 176.52 crore and Rs 65.1 crore, respectively. On the expense side, the cost of materials dominated by accounting for 42.3% of the expenses. This cost increased by 12.4% to Rs 312 crore in FY24 from Rs 277.6 crore in FY23 whereas employee benefit expenses rose slightly by 2.8% to Rs 124.49 crore in FY24. Advertising expenses shrank by 12.30% to Rs 156.65 crore in FY24. Transportation and other expenses added another Rs 143 crore in the last fiscal year. The company’s total expenses for FY24 increased by mere 1.9% to Rs 736.67 crore in FY24 from Rs 723 crore in FY23. In the end, Ferns N Petals’ loss declined by 77.8% to Rs 24.26 crore in FY24 from Rs 109.50 crore in FY23. Its EBITDA was recorded at a negative 8.62 crore in FY24 while the ROCE and EBITDA margin stood at -21.57% and -1.21%, respectively, during the last fiscal. On a unit basis, FnP spent Rs 1.04 to earn a rupee of operating revenue in FY24. The Gurugram based company reported Rs 84 crore in cash and bank balances and had a current asset of Rs 130.25 crore as of FY24. According to TheKredible, Ferns N Petals has secured a total funding of Rs 206.5 crore (approximately $27 million) to date, with Lighthouse being one of its leading investors. Ferns N Petals also runs hospitality and wedding businesses through Udman Hotels and FNP Weddings and Events. Whatever the firm did in FY23 in terms of consolidation, it seems to have worked as we see in the FY24 numbers. Which begs the question - will it sustain in FY25? If it does, then the firm would have justified a lot of the diversifications it has tried over the years to build a larger balance sheet. If the losses continue with low growth, then one would have to assume that the hack from FY23 was just a one trick (or year) pony. But if it does deliver, then Ferns N Petals might yet see the glory days it has been seeking yet again.

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Burma Burma crosses Rs 100 Cr revenue in FY25; almost breaks even

EntrackrEntrackr · 5m ago
Burma Burma crosses Rs 100 Cr revenue in FY25; almost breaks even
Medial

Burma Burma crosses Rs 100 Cr revenue in FY25; almost breaks even Burma Burma, a vegetarian pan-Asian restaurant chain, narrowed its losses significantly by 78% in the fiscal year ending March 2025, on the back of strong revenue growth and improved operating margins. The company nearly achieved break-even as it recorded 47% year-on-year growth in operating revenue, crossing the Rs 100 crore mark during FY25. Burma Burma’s revenue from operations rose to Rs 106 crore in FY25 from Rs 72 crore in FY24, according to its financial statements filed with the Registrar of Companies (RoC). The company operates a restaurant chain serving Burmese cuisine influenced by Indian, Chinese, and Thai flavors across more than a dozen locations in Delhi NCR, Mumbai, Bengaluru, Hyderabad, Kolkata, and Ahmedabad. Its entire revenue in FY25 came from these restaurants. Employee benefits and cost of material formed 53% of the company’s total cost. Employee benefit expenses rose 29% to Rs 29 crore, while the cost of material increased by 33% to Rs 28 crore in FY25. Rent expenses for the restaurants' outlets jumped 64% to Rs 18 crore, while depreciation increased 43% to Rs 10 crore during the year. Other overheads, including utilities and miscellaneous costs, collectively stood at Rs 23 crore. Total expenses grew 37% to Rs 108 crore in FY25 compared to Rs 79 crore in FY24. The strong growth helped Burma Burma to cut its loss by 78% to Rs 1.3 crore in FY25 from Rs 6 crore in FY24. The company reported a positive EBITDA of Rs 6.6 crore in FY25 with an EBITDA margin of 6.23%. Its return on capital employed (ROCE) improved from -48.6% in FY24 to -6.9% in FY25. The restaurant chain closed the year with Rs 9 crore in cash and bank balances and current assets worth Rs 19 crore. Burma Burma has raised a total of $7 million of funding to date, with Negen Capital and Bbigplas Poly Pvt Ltd as its lead investors. The company’s co-founders Chirag Chhajer and Ankit Gupta together own 88% of the company. The high promoter holding is well reflected in careful spending, with no rush to expand rapidly while keeping losses under control. This cautious approach is linked to cash on hand, and the niche positioning may require more advertising or promotional efforts to support growth.

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr

EntrackrEntrackr · 1y ago
Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr
Medial

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr Treebo Hotels, a premium-budget hotel chain, crossed the Rs 100 crore revenue milestone in the fiscal year ending March 2024. Despite this growth, the Bengaluru-based company saw its losses rise by 17%, bringing total outstanding losses to Rs 488 crore. Treebo Hotels’s revenue from operations grew 22.5% to Rs 109 crore in FY24 from Rs 89 crore in FY23, its consolidated financial statements filed with the Registrar of Companies show. Income from accommodation services (taken on lease and managed properties) formed 95% of the total operating revenue which increased by 22.3% to Rs 104 crore in FY24 from Rs 85 crore in FY23. The rest of the income comes from the sale of products, and subscription services. The company also added Rs 7.22 crore as other income (non-operating) which tallied its overall revenue to Rs 116 crore in FY24 from Rs 94 crore in FY23. Treebo spent 41% of its overall expenditure on employee benefits which increased marginally by 7% to Rs 59 crore in FY24. Its cost and commission surged 70% and 48% to Rs 17 crore and Rs 43 crore in the previous fiscal year. Its cost of materials, legal, technology, traveling, and other overheads took the overall cost up by 22% to Rs 144 crore in FY24 from Rs 118 crore in FY23. The increased advertising and commission costs led Treebo to raise its losses by 16.7% to Rs 28 crore in FY24, compared to Rs 24 crore in FY23. Its ROCE and EBITDA margin stood at -540% and -18.1% respectively. On a unit level, it spent Rs 1.32 to earn a rupee in FY24. The company’s total current assets stood at Rs 34 crore with cash and bank balances of Rs 7 crore in the previous fiscal. According to startup data intelligence platform TheKredible, decade-old Treebo has secured Rs 566 crore (approximately $70 million) in funding from investors including Accor, Elevation Capital, Matrix Partners, and Bertelsmann. The company’s most recent major funding, amounting to $16 million, was raised in June 2021. Treebo competes directly with Bloom Hotels and FabHotels. In FY24, Bloom Hotels saw its operational revenue rise by 73.6% to Rs 250 crore, with a profit of Rs 14 crore. FabHotels recorded Rs 224 crore in operating revenue for FY23 but has not yet filed its FY24 annual report.

Progcap crosses Rs 150 Cr revenue in FY24, cuts losses

EntrackrEntrackr · 1y ago
Progcap crosses Rs 150 Cr revenue in FY24, cuts losses
Medial

Progcap crosses Rs 150 Cr revenue in FY24, cuts losses Peak XV and Tiger Global-backed fintech firm Progcap has scaled more than 5X in the last two fiscal years, from Rs 26 crore in FY22 to Rs 139 crore in FY24. The firm also managed to reduce its losses in the same period. Progcap’s revenue from operations nearly doubled to Rs 139 crore in FY24 from Rs 71 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. Progcap facilitates debt capital for underserved micro and small businesses. The fintech platform digitizes supply chains and facilitates access to finance for last mile retailers. Revenue from these services was the sole source of income for the company. Progcap made an additional Rs 20 crore from interest on deposits and gains on current investments which pushed its total income to Rs 159 crore in FY24 from Rs 102 crore in FY23. On the expense side, employee benefit costs remained the largest expenditure, accounting for 61% of the total expense, to the tune of scale. This cost grew by 15% to Rs 124 crore in FY24. The firm’s finance costs surged sharply to Rs 22.5 crore from just Rs 1 crore in FY23. Other major expenses included collection deficiency charges (Rs 9.5 crore), travel expenses (Rs 6 crore), and miscellaneous costs. Overall, the company’s total expenses grew by 36% to Rs 203 crore in FY24 from Rs 149 crore in the preceding fiscal year. Progcap managed to cut its losses by 6% to Rs 46 crore in FY24 from Rs 49 crore in FY23. Its ROCE and EBITDA Margin improved to -2.96% and -11.32% respectively. On a unit basis, the company spent Rs 1.46 to earn a rupee of operating revenue in FY24. The Delhi-based firm reported current assets worth Rs 1,321 crore which include Rs 163 crore of cash and bank balance in FY24. According to TheKredible, Progcap has raised a total of approx $112 million in funding to date, having Tiger Global, Peak XV, Creation Investments, and GrowX Ventures as its lead investors. Progcap’s co-founders, Pallavi Shrivastava and Himanshu Chandra, collectively hold a 23.41% stake in the company.

BigBasket’s revenue crosses Rs 10,000 Cr in FY24

EntrackrEntrackr · 1y ago
BigBasket’s revenue crosses Rs 10,000 Cr in FY24
Medial

Tata Digital-owned BigBasket is making a strategic shift to focus exclusively on the burgeoning quick commerce market targeting $1.5 billion (Rs 12,400 crore) in total sales for the current fiscal year (FY25). While the impact of the pivot and its new target will unfold after the completion of FY25, it crossed the Rs 10,000 crore topline mark in FY24. Significantly, BigBasket also narrowed down losses by over 20%. BigBasket’s revenue from operations went up 6.27% to Rs 10,061.9 crore during the fiscal year ending March 2024 as compared to Rs 9,468.5 crore in FY23, as per the company’s consolidated financial statements sourced from the Registrar of Companies (RoC). It’s worth highlighting that, Supermarket Grocery Supplies Private Limited is the main entity of BigBasket which also includes its business-to-consumer (B2C) unit, Innovative Retail Concepts Private Limited, and other acquired companies. The company made 97% of its total operating revenue via the sale of grocery products and the rest came from ancillary services and other operating activities. It also earned Rs 37.89 crore from interest and gain on financial assets which took the firm’s overall revenue to Rs 10,099.8 crore during the last financial year (FY24). BigBasket, which recently announced a pivot of its business entirely to quick commerce, is planning to consolidate services by merging its BBdaily subscription service into its main app. By aligning its operations with 10-15 minute delivery, BigBasket is positioning itself to compete more aggressively with established players like Blinkit, Swiggy Instamart, Zepto, and Flipkart Minutes. Moving to the expenses, the cost of goods sold (COGS) accounted for 71.3% of the total expenses and grew 3.4% to Rs 8,209.6 crore in FY24. Employee benefits expenses, however, slipped 11.7% to Rs 936.6 crore during the same period. The employee cost also includes employee stock options (ESOP) expenses worth Rs 98.5 crore. Other major expenses of the company include transportation, distribution, advertising & promotions, technical services, and other admin and operating expenses. For more details, head to TheKredible. Overall, BigBasket managed to control its total expenses which increased a mere 2% to Rs 11,515 crore in FY24 from Rs 11,284.7 crore in FY23. The controlled expenses also helped in reducing losses significantly which shrank 20.73% to Rs 1,415 crore during FY24. Its operating cash outflows also improved by 18.5% to Rs 1,103 crore during the year. BigBasket’s outstanding losses stood at Rs 7,619.85 crore as of FY24. The Bengaluru-based firm’s EBITDA margin improved by 463 BPS to -9.39% in FY24. On a unit level, BigBasket spent Rs 1.14 to earn a rupee of operating revenue during the last fiscal year. FY23-FY24 FY23 FY24 EBITDA Margin -14.02% -9.39% Expense/₹ of Op Revenue ₹1.19 ₹1.14 ROCE -51.37% -70.62% During FY24, Zomato’s Blinkit and Swiggy’s Instamart recorded Rs 2,301 crore and Rs 1,100 crore gross revenue, respectively. Another competitor in the space, Zepto claimed that its revenue has jumped five-fold to more than Rs 10,000 crore in FY24. The audited numbers of the Aadit Palicha-led company is yet to come.

Info Edge-backed Zingbus crosses Rs 150 Cr revenue in FY25

EntrackrEntrackr · 2m ago
Info Edge-backed Zingbus crosses Rs 150 Cr revenue in FY25
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Intercity mobility platform Zingbus nearly doubled its scale in the fiscal year ending March 2025. However, the Gurugram-based company continued to remain in losses. Zingbus’ revenue from operations surged 85% to Rs 161 crore in FY25 from Rs 87 crore in FY24, according to its financial statements filed with the Registrar of Companies (RoC). Zingbus primarily generates revenue from intercity bus ticketing services. Revenue from these services was the sole source of revenue for the company. On the spending side, bus hire charges formed the largest expense element contributing over 63% of the total expenditure. This cost jumped 147% to Rs 121 crore in FY25 from Rs 49 crore in FY24. Guarantee commission paid to fleet partners also rose sharply by 78% to Rs 16 crore, whereas employee benefit expenses grew moderately by 7% to Rs 15 crore. Advertising expenses increased 9% to Rs 6 crore in the same period. Overall, Zingbus’ total expenditure grew 65% to Rs 191 crore in FY25 from Rs 116 crore in FY24. Despite the sharp scale up, the company managed to significantly improve its operating efficiency. EBITDA loss reduced to Rs 30.4 crore in FY25 from Rs 38.7 crore, translating into an EBITDA margin improvement from -44.5% in FY24 to -18.9% in FY25. Zingbus posted a net loss of Rs 25 crore in FY25, almost flat compared to Rs 24 crore loss in FY24. Its ROCE and EBITDA margin stood at -40.39% and -18.88% respectively. On a unit level, the company spent Rs 1.19 to earn a rupee of operating revenue during FY25 as compared to Rs 1.33 per rupee in the previous fiscal year. Zingbus held cash and bank balances of Rs 3 crore, with current assets standing at Rs 9 crore at the end of FY25. According to TheKredible, Zingbus has raised a total of $25 million of funding till date, having AdvantEdge Technologies, Info Edge and BP Ventures as its lead investors. Zingbus is focusing on an EV fleet and carbon neutral rides, aiming to build a valuable brand and recognition in a cluttered market. It faces challenges such as high dependence on imported buses and inadequate charging infrastructure, as well as potential impacts from fluctuating LNG prices.

IntrCity crosses Rs 320 Cr income in FY24, nears break-even

EntrackrEntrackr · 1y ago
IntrCity crosses Rs 320 Cr income in FY24, nears break-even
Medial

Travel-tech platform IntrCity, which owns SmartBus and RailYatri, could not replicate its FY23 growth momentum in FY24. After achieving six-fold growth in FY23, the company recorded a modest 16% year-on-year revenue increase for the fiscal year ending March 2024. However, the Nandan Nilekani family trust-backed firm reduced its losses by over 52%, bringing them below Rs 10 crore in FY24. IntrCity's revenue from operations grew 15.9% to Rs 317.34 crore during FY24 as compared to Rs 273.9 crore in FY23, as per the company's consolidated financial statements with the Registrar of Companies. IntrCity operates web and mobile platforms for its brands, SmartBus and RailYatri. The flagship brand, IntrCity SmartBus, caters to long-distance bus routes across India, while RailYatri offers train travel services such as ticket booking and meal ordering. As per the filings, the majority of commission revenue came from the Indian Railway Catering and Tourism Corporation (IRCTC) during FY24. The company collected 93.8% of the revenue from bus operations which went up 16.9% to Rs 297.71 crore in FY24. It also earned Rs 18.08 crore from commission along with Rs 1.55 crore via advertisement services. Additionally, collection from interest and gain on financial assets (non-operating revenue) stood at Rs 3.38 crore. Including this, the company's overall revenue climbed to Rs 320.7 crore in FY24. On the expense side, the cost of revenue (direct cost for the distribution of services) accounted for 68.3% of the total expenditure. This cost grew 14.2% to Rs 225.8 crore in FY24 from Rs 197.8 crore in FY23. Operation and maintenance costs went up 9.3% to Rs 43.5 crore while spending on employee benefits remained almost flat at Rs 36.85 crore during the last fiscal year. The company incurred Rs 7.42 crore on advertisement and promotions and paid Rs 3.9 crore commission for catering and payment gateway services. In the end, IntrCity's expenses increased 9.7% to Rs 330.6 crore during FY24 in comparison to Rs 301.3 crore during FY23. On the back of controlled expenditure and double-digit growth in revenues, the firm managed to bring down its losses by 53.7% to Rs 9.9 crore in FY24. The losses were at Rs 21.4 crore in the previous fiscal year. Operating cash outflows of IntrCity also improved by 69.8% during the period and stood at Rs 6.1 crore. As of the last fiscal year, the firm's outstanding losses stood at Rs 242.5 crore. During FY24, the travel-tech platform managed to improve its EBITDA margin by 459 BPS to -2.08%. On a unit level, IntrCity spent Rs 1.04 to earn an operating revenue during the said period. IntrCity has Rs 17.4 crore in cash and bank balances while its total assets stood at Rs 41.2 crore for the fiscal year ended March 2024. As per the startup data intelligent platform TheKredible, IntrCity has raised over $50 million to date and was valued at around Rs 912 crore or $110 million in the latest funding round in February this year. Among online travel aggregator (OTA) platforms, MakeMyTrip is the largest player in terms of revenue. Ixigo, EaseMyTrip, Yatra, and Cleartrip are also the key players in the segment.

FNP posts Rs 861 Cr revenue in FY25; cuts losses

EntrackrEntrackr · 20d ago
FNP posts Rs 861 Cr revenue in FY25; cuts losses
Medial

Ferns N Petals (FNP), an omni-channel gifting and floral retail company, recorded a 22% rise in its scale in the fiscal year ended March 2025. The company also managed to cut its losses in the same period. FNP’s operating revenue grew to Rs 861.5 crore in FY25 from Rs 705 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). FNP makes money through the sale of cakes, flowers, and customized gifting solutions via its website, third-party e-commerce platforms, company-owned stores, and franchises. It also earns from delivery, convenience, and packing charges, as well as franchise-related income, including one-time onboarding fees and monthly royalties. Sales of products such as cakes, flowers, gifts, were the primary contributor, accounting for 91% of the operating revenue, which increased by 22% to Rs 781 crore in FY25 from Rs 641 crore in FY24. Revenue from services grew by 25% to Rs 80 crore in FY24. Including other income of Rs 7.5 crore, the company’s total income increased to Rs 869 crore in FY25 from Rs 712 crore in FY24. On the spending side, the cost of material was the largest contributor, accounting for 43% of the total expense. To the tune of scale, this cost rose 21.5% to Rs 379 crore in FY25 from Rs 312 crore in FY24. Administrative expense increased 17% to Rs 184 crore, while employee benefit expense went up 18% to Rs 146 crore during the year. Rent expense stood at Rs 15 crore, while depreciation rose to Rs 16 crore. Overall, FNP’s total expenses rose 21% to Rs 890 crore in FY25. The firm cut its losses by 8.3% to Rs 22 crore in the last fiscal year, while its ROCE and EBITDA margin stood at -29.13% and -1.25%, respectively. On a unit basis, the company spent Rs 1.03 to earn a rupee during the fiscal year. It recorded cash and bank balances of Rs 74 crore, while its current assets stood at Rs 138 crore and total assets at Rs 225 crore in FY25. FNP has secured a total funding of approximately $27 million to date, with Lighthouse being one of its leading investors. It also runs hospitality and wedding businesses through Udman Hotels and FNP Weddings and Events. It competes with the likes of IGP (Indian Gifts Portal), FlowerAura, Winni, and Archies. While the losses might seem inconsequential on a firm this size, it is also a fact that FNP doesn't really seem to have a route to improve profitability significantly. It remains in a game of incremental gains for now with the added threat of a rampant quick delivery cohort that is increasingly overlapping with FNP’s offerings.

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