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Storia Foods revenue spikes 51% to Rs 169 Cr in FY24

EntrackrEntrackr · 10m ago
Storia Foods revenue spikes 51% to Rs 169 Cr in FY24
Medial

Storia Foods, a beverage and dairy alternative brand, reported 51% year-on-year growth in FY24. However, the company’s losses widened during the same period due to rising expenses across key cost centers. Storia Foods’ revenue from operations rose to Rs 169 crore during the last fiscal year, up from Rs 112 crore in FY23, according to its financial statement filed with the Registrar of Companies (RoC). Founded by Vishal Shah, Storia Foods offers sugar-free shakes, lattes, smoothies, coconut water, juices, and booster drinks, among other products. The sale of these items was the sole source of operational revenue for the company. The firm also earned Rs 2 crore from interest on deposits, which took its total revenue to Rs 171 crore in FY24. Storia Foods’ total expenses rose 44% to Rs 203 crore in FY24, up from Rs 141 crore in the previous year. The largest cost component, material costs, increased 40% to Rs 98 crore. Employee benefit expenses grew 17% to Rs 27 crore, while other expenses jumped 63% to Rs 78 crore. Despite strong revenue growth, the rising cost structure resulted in a net loss of Rs 33 crore in FY24 from Rs 27 crore in FY23. The firm’s EBITDA margin improved to -19.18% in FY24, compared to -24.69% in FY23. On a unit level, Storia Foods spent Rs 1.20 to earn a rupee during the fiscal year. The Mumbai-based company reported current assets worth Rs 24 crore in FY24, which includes Rs 5 crore in cash and bank balance. According to startup data intelligence platform TheKredible, Storia Foods has raised a total of $6 million in funding to date. Sixth Sense Ventures is the lead investor, holding a 23.86% stake, while founder Vishal Shah owns 20.30% of the company. Storia Foods is a very interesting effort in a category that has been notoriously difficult to crack. If it’s not the proposition of “pure juice” that gets you, it is the issue with the value-seeking Indian buyer, who simply does not sip often enough if the price is too ‘high’ for the privilege of getting pure juice. Storia has tried an interesting tack around the challenge by trying to push many of its offerings in packs of 6, while promising quality. It will be really interesting to see if the pitch has worked in terms of orders for full packs of six or more. Otherwise, despite a good show on growth and cost controls, the firm knows the next big challenge looms, besides the obvious one of distribution, in that it might get closer to breakeven, but within the next 2 years, it will need to confront a market that has usually stagnated for predecessors, forcing many to compromise on their original premise to keep growing with lower value, diluted offerings.

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Rebel Foods posts Rs 1,420 Cr revenue in FY24; losses down by 42%

EntrackrEntrackr · 1y ago
Rebel Foods posts Rs 1,420 Cr revenue in FY24; losses down by 42%
Medial

Cloud kitchen posterboy Rebel Foods (formerly Faasos) significantly improved its financial health during the fiscal year ending in March 2024. The Mumbai-based firm achieved nearly 19% growth in scale and reduced its losses by over 40% during the same period. Rebel Foods’ revenue from operations grew to Rs 1,420 crore in FY24 as compared to Rs 1,195 crore in FY23, as per the company’s consolidated financial statements with the Registrar of Companies. The company generated most of its revenue through its core operations (sale of food), contributing 96.7% of the total operating revenue in FY24. Rebel Foods is a full-stack food tech firm that makes money from the sale of food through its owned stores and kitchens. A small part of its income also came from commission, storage, franchise, delivery services, compensation on account of cancellation, and royalty. Apart from operating income, the foodtech firm also earned Rs 65.29 crore via interest and gain on financial assets (non-ops income) which increased the overall revenue to Rs 1,485.53 crore in FY24. On the expense front, the cost of materials accounted for 33% of the total burn which increased 6.2% to Rs 613.35 crore in FY24. Employee benefits expenses, however, marginally decreased (2.6%) to Rs 394.92 crore during the last fiscal. This overhead also includes the ESOP expenditure of Rs 46.55 crore, followed by brokerage, commission, and promotional costs. For more details, head to TheKredible. Also read: Decoding the financial health of leading cloud kitchen startups With improved topline, Rebel Foods also managed to keep a check on total expenses which grew mere 1.6% to Rs 1,857 crore in FY24. The firm also cut down its losses by over 42% to Rs 378 crore. As of FY24, the company’s outstanding losses stood at Rs 2,911 crore. The improved bottom line can also be seen via EBITDA margin which bettered to -10.76% in FY24, improving by nearly 2,000 BPS. Rebel Foods recorded an EBITDA loss of Rs 159.83 crore in the same period. FY23-FY24 FY23 FY24 EBITDA Margin -30.33% -10.76% Expense/₹ of Op Revenue ₹1.53 ₹1.31 ROCE -39.65% -35.50% On a unit level, the foodtech major spent Rs 1.31 to earn a rupee of operating revenue during the period. Rebel Foods currently claims to have over 450 cloud kitchens across India, MENA, Indonesia, UK, including 75 cities in India. The Peak XV-backed firm raised its last equity round in November 2021 and since then it has received nearly $50 million in debt across five tranches. It’s reportedly in talks to raise up to $150 million in a mix of primary and secondary components. Rebel Foods’ major competition includes horizontal and vertical foodtech plays including Curefoods, EatClub, Biryani By Kilo, FreshMenu, Biryani Blues, Kitchens@, Bigspoon, and HOI Foods.

Rebel Foods growth slows in FY25, reports Rs 336 Cr loss

EntrackrEntrackr · 1m ago
Rebel Foods growth slows in FY25, reports Rs 336 Cr loss
Medial

url: https://entrackr.com/fintrackr/rebel-foods-growth-slows-in-fy25-reports-rs-336-cr-loss-10884067 Content: Cloud kitchen company Rebel Foods has been witnessing modest growth over the past couple of fiscal years. The Pune-based firm recorded a meagre 14% year-on-year rise in revenue during the fiscal year ending March 2025, while its losses declined by roughly the same proportion. Rebel Foods’ revenue from operations grew to Rs 1,617 crore in FY25 from Rs 1,420 crore in FY24, as per its consolidated financial statements filed with the Registrar of Companies (RoC). Rebel Foods operates brands like Faasos, The Biryani Life, Lunch Box, Over Story, The Good Bowl, Behrouz and others. The company derives the bulk of its revenue from the sale of food products, which accounted for 97% of operating revenue, climbing to Rs 1,565 crore in FY25. Income from services rose 6.5% to Rs 33 crore in FY25 from Rs 31 crore in FY24. Including non-operating revenue of Rs 41 crore, Rebel Foods’ total income stood at Rs 1,658 crore in the last fiscal year. The cost of materials was its largest expense, which grew 11% to Rs 678.5 crore in FY25 from Rs 613 crore in FY24, forming 34% of total expenses. Employee benefit expenses saw a marginal decline of 2% to Rs 388 crore, while advertising costs increased 14% to Rs 153 crore. Brokerage and commission expenses were up 6% to Rs 243 crore. Overall, the firm’s total costs rose 7% year-on-year to Rs 1,987 crore in FY25. With the help of revenue outpacing the company’s expenses, Rebel Foods managed to control its loss by nearly 12% to Rs 336 crore in FY25. Its ROCE and EBITDA margin improved to -35.93% and -10.39% respectively. On a unit level, Rebel Foods spent Rs 1.23 to earn a rupee of revenue in FY25, improving from Rs 1.31 in FY24. The company held cash and bank balances of Rs 56 crore at the end of March 2025, while its current assets stood at Rs 597 crore in the same period. According to startup data intelligence platform TheKredible, Rebel Foods has raised nearly $803 million of funding till date, having Peak XV Partners, Coatue, QIA and Lightbox as its lead investors. The continuing losses on moderating growth does not augur well for Rebel Foods, seen as a survivor from the pandemic shock to many cloud kitchen startups. Its travails reflect the bigger issues confronting Barbecue Nation or other listed firms in the category, with only Domino’s showing the resilience to keep growing profitably. We don’t see the situation improving significantly in the near future for the firm, which could portend significant restructuring and other changes to control costs further.

Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24

EntrackrEntrackr · 1y ago
Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24
Medial

Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24 Offline coaching firm Drishti IAS Institute crossed Rs 400 crore of revenue during the previous fiscal year ended in March 2024. The profits for the Vikas Divyakirti-led firm touched Rs 90 crore in the same period. Drishti IAS’s revenue from operations increased by 30.6% year-on-year to Rs 405 crore in FY24 from Rs 310 crore in FY23. The Delhi-based company's revenue rose from Rs 40 crore in FY21 to Rs 119 crore in FY22, and further to Rs 310 crore in FY23. The 26-year-old educational platform mainly provides offline coaching for Civil Services Examination (CSE). Income from coaching services accounted for 94.8% of the total operating revenue, which increased by 37.6% to Rs 384 crore in FY24 from Rs 279 crore in FY23. The remaining income is generated from the sale of study materials, including pen drives, books, test papers, and other resources. Drishti IAS operates seven institutes, including two in Delhi, three in Uttar Pradesh, and one each in Jaipur and Indore. Its Mukherjee Nagar Institute is the largest revenue contributor, accounting for 58% of the total coaching income. Employee benefits and faculty charges constituted 40% of its overall cost, increasing by 41% to Rs 117 crore in FY24 from Rs 83 crore in FY23. Drishti IAS's advertising spending also jumped 3.4X to Rs 51 crore in FY24. Drishti IAS's overall expenditure increased to Rs 289 crore in FY24 from Rs 197 crore in FY23. Higher spending on employee benefits and advertising resulted in a modest 3.4% increase in net profits, which rose to Rs 90 crore in FY24 from Rs 87 crore in FY23. The company's ROCE and EBITDA margin were recorded at 55.7% and 33.73%, respectively, while the expense-to-revenue ratio stood at Re 0.71. As of March 2024, the company's total current assets were valued at Rs 88 crore, with cash and bank balances of Rs 54 crore.

NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24

EntrackrEntrackr · 9m ago
NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24
Medial

NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24 Dialysis service provider NephroPlus reported a 29% year-on-year increase in operating revenue for the fiscal year ending March 2024. Significantly, the Hyderabad-based company turned profitable during the period, marking a notable recovery from a Rs 12 crore loss in FY23. NephroPlus’ operating revenue grew to Rs 566 crore in FY24 from Rs 438 crore in FY23, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). NephroPlus runs over 275 dialysis centers in more than 170 cities in India and treats nearly 20,000 patients on a monthly basis. Revenue from these services accounted for 95% of the company’s income in FY24. On the expense side, the largest component of expenditure remained the cost of materials, which rose 19% to Rs 169 crore, accounting for over 31% of the total spend. Employee benefit expenses dropped slightly to Rs 91 crore from Rs 97 crore in FY23, while healthcare professional fees surged by 90% to Rs 59 crore. Hospital fees also increased to Rs 56 crore from Rs 48 crore, and other operational expenses climbed to Rs 166 crore. Overall, NephroPlus reported total costs rose 19.7% to Rs 541 crore in FY24. The strategic focus on cost discipline and improved margins helped NephroPlus post a net profit of Rs 35 crore in FY24, as compared to a net loss of Rs 12 crore a year earlier. Its ROCE and EBITDA margin improved to 9.40% and 18.96% respectively. On a unit basis, NephroPlus spent Rs 0.96 to earn a rupee of revenue in FY24. As of March 2024, the company reported current assets worth Rs 390 crore in FY24, out of which Rs 61 crore were in cash and bank balances. According to startup data intelligence platform TheKredible, NephroPlus has raised approximately $212 million in funding to date, having IFC and Besemer Venture Partners as its lead investors. The company’s co-founder and CEO Vikram Vuppala owns 11.6% of the company. Recently, NephroPlus acquired seven new dialysis clinics in the Philippines. The firm is also planning to start its clinics in Saudi Arabia later this year.

Ixigo ends Q2 FY25 with Rs 206 Cr revenue and Rs 13 Cr PAT

EntrackrEntrackr · 1y ago
Ixigo ends Q2 FY25 with Rs 206 Cr revenue and Rs 13 Cr PAT
Medial

Online travel aggregator (OTA) Ixigo’s revenue from operations grew 26% to Rs 206.47 crore in Q2 FY25 as compared to the same quarter of FY24. The growth was steered by the flight and bus segment. The flight gross transaction value grew by 43% YoY, while the bus GTV increased by 46%. The company’s contribution margin also improved by 24% to Rs 91.08 crore in Q2 FY25, compared to Rs 73.67 crore in Q2 FY24, the company said in a stock exchange filing. However, the contribution margin as a percentage of revenue from operations slightly decreased from 45% in Q2 FY24 to 44% in Q2 FY25. The Gurugram-based company generated the majority (53.5%) of its operating revenue from train ticketing amounting to Rs 110.4 crore in Q1 FY25. Flight and bus booking services contributed 27% and 19.3% to the company’s coffers, respectively. The firm’s operating expenses rose in Q2 FY25, reflecting increased investments in growth. Employee expenses and marketing costs contributed to this spike, which was necessary to support the company’s expansion in user acquisition and market penetration. Despite the rise in costs, EBITDA saw a sharp increase of 655%, reaching Rs 22.4 crore in Q2 FY25, compared to Rs 2.96 crore in Q2 FY24. Adjusted EBITDA also jumped 326% to Rs 20.99 crore in Q2 FY25. Ixigo profit after tax (PAT) declined by 51%, from Rs 26.70 crore in Q2 FY24 to Rs 13.08 crore in Q2 FY25. This decline was primarily due to a deferred tax charge of Rs 5.26 crore in Q2 FY25.

GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25

EntrackrEntrackr · 3m ago
GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25
Medial

Fintrackr All Stories GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25 GenieMode continued to grow during the fiscal year ending March 2025. The firm crossed the Rs 650 crore gross merchandise value (GMV) milestone, while controlled expenses helped narrow its losses by 35% year-on-year in FY25. The company’s gross revenue grew 21% to Rs 673 crore in FY25 from Rs 556 crore in FY24, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. GenieMode is a business-to-business cross-border e-commerce marketplace for buyers in furniture, home textile, apparels and accessories. The sale of these goods accounted for 98% of its income, which increased by 20% year-on-year to Rs 657 crore in FY25 from Rs 549 crore in FY24. The company’s largest expense was the cost of materials, which accounted for 75% of the total cost. This expense rose 18% to Rs 551 crore in FY25 from Rs 467 crore in FY24. On the other hand, employee benefit expenses decreased 13% to Rs 69 crore in FY25 from Rs 79 crore in FY24. While legal and professional fees rose 41% to Rs 38 crore, finance costs more than doubled to Rs 14.5 crore. Other expenses added the remaining Rs 51.5 crore, pushing total costs to Rs 731 crore in FY25. In the end, GenieMode managed to cut its loss by 35% to Rs 51 crore in FY25 from Rs 78 crore in FY24. Its ROCE and EBITDA margin stood at -10.76% and -7.58%, respectively. On a unit basis, the company spent Rs 1.09 to earn a rupee of operating revenue in the last fiscal year. On a balance sheet front, the Gurugram-based company recorded total assets of Rs 690.5 crore in FY25 while current assets were Rs 544 crore including Rs 42 crore in cash and bank balances. According to TheKredible, GenieMode has raised $92 million of funding till date, having Info Edge, Tiger Global and Multiples Equity as its lead investors. The company’s co-founders Amit Sharma and Tanuj Gangwani own 39% of the company.

Exclusive: KreditBee’s NBFC arm posts Rs 200 Cr profit in FY24

EntrackrEntrackr · 1y ago
Exclusive: KreditBee’s NBFC arm posts Rs 200 Cr profit in FY24
Medial

KreditBee’s non-banking financial corporation (NBFC) arm, Krazybee, demonstrated notable growth in the fiscal year ending March 2024 (FY24), nearly doubling its revenue and tripling its profit. Krazybee’s revenues rose to Rs 1,399 crore in FY24 from Rs 717 crore in FY23, according to its standalone annual financial statement sourced by Entrackr. Krazybee, which facilitates personal loans through both its own and third-party NBFCs and banks, saw its interest income surge 2.5X to Rs 1,225.83 crore in FY24. Income from fees and commissions contributed an additional Rs 169 crore, bringing the firm’s total revenue to Rs 1,400 crore in FY24. On the expense side, Krazybee’s total expenses spiked by 80%, rising to Rs 1,132 crore in FY24 from Rs 630 crore in FY23. The amortized cost of loans accounted for 38% of the total expenses, increasing by 74% to Rs 432 crore. Finance costs grew by 43% to Rs 235 crore in the same period. One of the most notable expense shifts was the five-fold increase in employee benefit costs, which jumped to Rs 188 crore in FY24. In contrast, commissions and fees paid to other platforms saw a 24% decline. The 95% jump in scale and controlled expenditure helped Krazybee to multiply its profit by 3X to Rs 200 crore in FY24 from Rs 65 crore in FY23. The company’s Return on Capital Employed (ROCE) improved to 10.5%, while its EBITDA margin stood at 36%. On a unit level, Krazybee NBFC spent Rs 0.81 to earn a rupee of operating revenue in FY24. KreditBee has raised approximately $410 million across various funding rounds. According to startup data platform TheKredible, Premji Invest and Newquest Capital are the largest external stakeholders, followed by Alpine Capital, Motilal Oswal Group, and others. fy_table title =”FY23-FY24″ logo=”https://entrackr.com/storage/2024/09/Krazybee.png” chart_item=”FY23,FY24″ data=”EBITDA Margin,35%,36%:Expense/₹ of Op Revenue,₹0.88,₹0.81:ROCE,9%,10.5%”] KreditBee was valued at around $700 million during its latest tranche in March. The company is also planning to shift its domicile to India from Singapore. The reverse flip will smoothen it’s road to initial public offering (IPO). Entrackr exclusively reported the development in April.

MapMyIndia posts Rs 140 Cr revenue in Q4 FY25, profit grows 29%

EntrackrEntrackr · 8m ago
MapMyIndia posts Rs 140 Cr revenue in Q4 FY25, profit grows 29%
Medial

MapMyIndia posts Rs 140 Cr revenue in Q4 FY25, profit grows 29% CE Info Systems, the parent company of MapMyIndia, has announced its financial results for the fourth quarter of FY25. The company reported a year-on-year revenue growth of over 34% compared to Q4 FY24. MapMyIndia’s revenue from operations increased to Rs 143 crore in Q4 FY25 from Rs 107 crore in Q4 FY24. Meanwhile, for the full fiscal year, revenue increased by 22% to Rs 463 crore in FY25 from Rs 379 crore in FY24, according to its consolidated quarterly report. Income from digital map data, GPS navigation, location-based services, and IoT was the primary source of revenue for MapMyIndia, accounting for 88% of the total collection. This revenue source increased by 51% to Rs 127 crore in Q4 FY25. However, income from the sale of its devices generated Rs 16.5 crore in revenue. The cost of IoT devices, employee benefits, and outsourced technical services were the major cost elements, pushing the total cost of the firm to Rs 90 crore in Q4 FY25, up from Rs 72 crore in Q4 FY24. On a fiscal basis, the total cost increased to Rs 306 crore in FY25. With the increase in scale, MapMyIndia recorded a 29% increase in its profit to Rs 49 crore during Q4 FY25, compared to Rs 38 crore in the fourth quarter of the previous fiscal year. Meanwhile, annual profit increased by 10% to Rs 148 crore in FY25, up from Rs 134 crore in FY24. At the end of the day on 9th May 2025, MapMyIndia closed at Rs 1,845 per share, with a market capitalization of Rs 10,040 crore ($1.17 billion).

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