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Swiggy to invest Rs 1,000 Cr in subsidiary Scootsy for biz expansion

EntrackrEntrackr · 4m ago
Swiggy to invest Rs 1,000 Cr in subsidiary Scootsy for biz expansion
Medial

Swiggy to invest Rs 1,000 Cr in subsidiary Scootsy for biz expansion Food delivery and quick-commerce platform Swiggy Limited has announced an investment of up to Rs 1,000 crore (approximately $117 million) in its wholly owned subsidiary, Scootsy Logistics, to support business expansion and operational growth. The decision was approved at a board meeting held on February 21, 2025, where Swiggy outlined its plan to invest the amount in one or more tranches through a rights issue, as stated in its stock exchange filing. Swiggy confirmed that the investment will be made through cash consideration, with shares priced at Rs 7,640 per share, including a premium of Rs 7,630 per share. The funds will primarily be used for working capital and other capital expenditures to strengthen the company's logistics and supply chain operations. Scootsy Logistics specializes in supply chain services and distribution, including warehouse management, order fulfillment, and last-mile delivery solutions. The company has experienced significant revenue growth over the past three years, reporting a turnover of Rs 5,795.7 crore in FY24, compared to Rs 3,686.2 crore in FY23 and Rs 1,580.3 crore in FY22. In Q3 FY25, Scootsy contributed 42% of Swiggy’s overall operating revenue. Income from this entity increased by 23% QoQ to Rs 1,692 crore in Q3 FY25 from Rs 1,377 crore in Q3 FY24. Despite the investment, there will be no change in Swiggy’s shareholding in Scootsy, and the subsidiary will continue to operate under its existing structure. Swiggy expects this investment to enhance scalability, improve delivery operations, and strengthen its competitive edge in the market.

FabAlley and Indya-parent posts Rs 185 Cr revenue and Rs 45 Cr loss in FY23

EntrackrEntrackr · 1y ago
FabAlley and Indya-parent posts Rs 185 Cr revenue and Rs 45 Cr loss in FY23
Medial

High Street Essentials, the parent company of “FabAlley” and “Indya”, witnessed sluggish growth during the previous fiscal year ending March 2023. However, the losses for the Noida-based company also were flat during the same period. High Street Essentials’ revenue from operations increased 17.8% to Rs 185 crore in FY23 from Rs 157 crore in FY22, its annual financial statements filed with the Registrar of Companies show. Established in 2012 by Shivani Poddar and Tanvi Malik, High Street Essentials has two women-focused brands – Indya and FabAlley. Indya specializes in offering ethnic clothing and accessories for women, whereas FabAlley caters to women’s Western apparel and loungewear needs. The company claims to have more than 30 stores across the country. The sale of apparel constituted 77% of the total operating revenue which increased 12.7% to Rs 142 crore in FY23. The rest of the income comes from agency commission which increased by 38.7% to Rs 43 crore in FY23. For the fashion brand, the cost of material consumed (procurement) formed 27% of the overall expenditure. This cost increased by 6.8% to Rs 63 crore in FY23. Its advertising cum selling cost saw a growth of 30.8% during the previous fiscal (FY23). Its employee benefit, legal cum professional, freight, and logistics pushed the overall expenditure to Rs 235 crore in FY23 from Rs 206 crore in FY22. Check TheKredible for the detailed expense breakup. Expenses Breakdown Total ₹ 206 Cr https://thekredible.com/company/faballey/financials View Full Data To access complete data, visithttps://thekredible.com/company/faballey/financials Total ₹ 235 Cr https://thekredible.com/company/faballey/financials View Full Data To access complete data, visithttps://thekredible.com/company/faballey/financials Cost of procurement Cost of procurement Employee benefit Employee benefit Advertisement and sales promotion Advertisement and sales promotion Selling and distribution Selling and distribution Freight Freight Others To check complete Expense Breakdown visit thekredible.com View full data The flat scale and cost did not affect its losses, which remained constant at Rs 45 crore in FY23. Its ROCE and EBITDA margin stood at -247% and -14.2%, respectively. On a unit level, it spent Rs 1.27 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -17% -14.2% Expense/₹ of Op Revenue ₹1.31 ₹1.27 ROCE -130% -247% High Street has raised Rs 180 crore so far and is valued at Rs 700 crore. According to the startup data intelligence platform TheKredible, Elevation Capital is the largest shareholder with 28.18% followed by India Quotient. Its co-founders Tanvi Malik and Shivani Poddar cumulatively command 37.18% of the company.

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