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CaratLane crosses Rs 3,000 Cr revenue in FY24; remains profitable

EntrackrEntrackr · 1y ago
CaratLane crosses Rs 3,000 Cr revenue in FY24; remains profitable
Medial

Titan-owned CaratLane has continued its growth trajectory as its revenue grew 42% in the fiscal year ending March 2024. The company’s profit dipped marginally due to aggressive expansion, though. CaratLane’s revenue from operations grew to Rs 3,081 crore in FY24 from Rs 2,169 crore in FY23, its consolidated annual statements sourced from the Registrar of Companies (RoC) show. CaratLane sells gold, silver, and diamond jewelry for both men and women through its website and network of offline stores. As per its website, the firm operates over 262 stores across 105 cities. The sale of the jewelry was the sole source of revenue for CaratLane in FY24. The company also earned Rs 25 crore from other financial activities, taking the overall revenue to Rs 3,106 crore in the said fiscal. For the jewelry maker, the cost of procurement of material/stones was naturally the largest cost center forming 69% of the total expenditure. To the tune of scale, this cost grew 48% to Rs 2077 crore in FY24. Employee benefits, advertisement cum promotion, legal, technical, and transportation are some major overheads that pushed the total cost to Rs 2,992 crore in FY24 from Rs 2,069 crore in FY23. See TheKredible for the detailed cost breakup. Despite an impressive scale, the company reported a flat profit which stood at Rs 79 crore in FY24 as compared to Rs 82 crore in FY23. The expansion of stores appears to be the reason for the marginal dip in PAT. Its ROCE and EBITDA margin stood at 34.88% and 8.98%, respectively. On a unit level, it spent Rs 0.97 to earn a rupee in FY24. FY23-FY24 FY23 FY24 EBITDA Margin 9.64% 8.98% Expense/₹ of Op Revenue ₹0.95 ₹0.97 ROCE 38.19% 34.88% CaratLane also disclosed its financials for the first quarter of FY25. The company’s total income surged 18% year-on-year to Rs 754 crore in Q1 FY25 while its EBITDA saw an 8% increase to Rs 38 crore during the same period. In February, Tata Group firm Titan Company acquired the remaining 0.36% stake of CaratLane for Rs 60.08 crore. Following the deal, CaratLane transitioned into a wholly-owned subsidiary of Titan Company. CaratLane directly competes with Bluestone which recorded Rs 788 crore in operating revenue for FY23 and reportedly raised Rs 900 crore ($107 million) in pre IPO round. Among the venture funded startups, Melorra and Giva are other notable competitors.

EaseMyTrip post Rs 152 Cr revenue and Rs 34 Cr profit in Q1 FY25

EntrackrEntrackr · 1y ago
EaseMyTrip post Rs 152 Cr revenue and Rs 34 Cr profit in Q1 FY25
Medial

Online travel aggregator (OTA) platform EaseMyTrip announced its financial results on Tuesday for the quarter ending June 2024. The results show a marginal decline in scale and profit during Q1 FY25. EaseMyTrip’s operating revenue declined by 6.97% to Rs 152.6 crore in Q1 FY25 from Rs 164 crore in Q4 FY 24, as per its unaudited consolidated financial statements filed with the National Stock Exchange. Revenue from air ticketing accounted for 70% of the revenue whereas hotel packages formed 18.05% of the total collection. On a sequential basis, its revenue from operations increased by 23% as compared to Q1 FY24. To the tune of scale, its total expense decreased by 7.19% to Rs 109 crore in Q1 FY25 from Rs 117.48 crore in Q4 FY24. Service cost, payment gateway, employee benefit and advertisement costs were other major overheads for EaseMyTrip during the last quarter. The fall in collection also impacted EaseMyTrip’s profit which reduced 13.29% to Rs 33.92 crore in Q1 FY25 from Rs 39.12 crore in Q4 FY 25. The Delhi-based company spent Rs 0.71 to earn a rupee in Q1FY25. EaseMyTrip is currently trading at Rs 36.7 (as of 16.30 PM) with a total market capitalization of Rs 7,033 crore (approximately $847 million).

Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable

EntrackrEntrackr · 21d ago
Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable
Medial

Exclusive All Stories Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable Full-stack agritech platform BigHaat Agro posted a flat scale with single-digit year-on-year growth in the fiscal year ending March 2025. However, the Bengaluru-based company managed to narrow its losses by over 25% during the last fiscal year. According to its co-founder Sateesh Nukala, BigHaat has crossed the Rs 1,100 crore revenue threshold in FY25 from Rs 1,050 crore in FY24. BigHaat’s revenue split consists of 85% of revenue coming from farm produce sales, with agri-inputs, which is direct to farmers, and digital only contributing 15%. The platform now counts 3 million monthly active farmers and reported 15% gross margins in FY25, said Nukala in an interaction with Entrackr. Nukala highlighted that exports and advanced processing, a high-margin vertical launched in FY25, now contribute 20% to its monthly revenue. “We have reduced our net loss to Rs 25 crore in FY25 from Rs 35 crore in FY24 and turned EBITDA positive for the last three quarters,” said Nukala. He also added that BigHaat is among the few agritech startups to achieve profitability at scale with 6x revenue-to-capital efficiency. As per Nukala, the company is targeting Rs 1,400 crore in FY26, with spices emerging as a key growth driver. “We are also open to acquisitions of new brands to strengthen our portfolio,” he emphasized. BigHaat has raised around $25 million to date. In January 2022, it raised Rs 100 crore led by JM Financial. Beyond Next Ventures, Ashish Kacholia, Ankur Capital, and others are some notable investors for the firm. This contrasts with larger peers. DeHaat, India’s most valued agritech startup, clocked Rs 2,675 crore revenue in FY24 but with losses of over Rs 240 crore. Ninjacart, backed by Walmart and Flipkart, crossed Rs 2,000 crore revenue in the same fiscal but recorded a Rs 259.6 crore loss. By combining steady topline growth, improving margins, and sustained EBITDA profitability, BigHaat is positioning itself as one of the few agritech ventures balancing scale with financial discipline, while many peers continue to burn capital at larger scales.

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