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Toothsi-parent MakeO’s revenue spikes 2X in FY23, posts Rs 220 Cr loss

EntrackrEntrackr · 1y ago
Toothsi-parent MakeO’s revenue spikes 2X in FY23, posts Rs 220 Cr loss
Medial

Toothsi and skincare brand Skinnsi-parent MakeO has managed over two-fold growth in its operating scale in FY23. Significantly, the company also controlled its losses which grew around 20% in the last fiscal. Though the operating income is yet to come close to its losses. MakeO’s revenue from operations surged 2.15X to Rs 168 crore in the fiscal year ending March 2023 from Rs 78 crore in FY22, its consolidated financial statements filed with the Registrar of Companies show. Toothsi Founded in 2018 by Arpi Mehta Shah, Pravin Shetty, Manjul Jain and Anirudh Kal, MakeO started as an aligner brand Toothsi. Later, it merged its flagship brands, including Skinnsi. Under the two brands, the firm provides dental, skin, and hair treatment solutions. The sale of tooth aligners formed 69% of the total operating revenue which spiked 75.8% to Rs 116 crore in FY23. The rest of the revenue came from the sale of Skinsi services which include facial, anti-aging, acne reduction, and other skin treatments. See TheKredible for the detailed revenue breakup. Employee benefits emerged as the largest cost center for MakeO, accounting for 32.1% of the overall expenditure. This cost grew 76.4% to Rs 127 crore in FY23. This includes Rs 21 crore as ESOP costs. MakeO’s consultant fees which include scanning and therapist charges grew 15.4% to Rs 60 crore in FY23. The firm’s procurement, payment gateway, marketing, rent, legal /professional, and other overheads took its overall expenditure up by 50.2% to Rs 395 crore in FY23. Head to TheKredible for the complete expense breakup. Expense Breakdown Total ₹ 263 Cr https://thekredible.com/company/toothsi/financials View Full Data To access complete data, visithttps://thekredible.com/company/toothsi/financials Total ₹ 395 Cr https://thekredible.com/company/toothsi/financials View Full Data To access complete data, visithttps://thekredible.com/company/toothsi/financials Cost of procurement Cost of procurement Employee benefit Employee benefit Consultant Fees Consultant Fees Rent Rent Subvention and Payment Gateway Charges Subvention and Payment Gateway Charges Marketing Marketing Legal and Professional Legal and Professional Others To check complete Expense Breakdown visit thekredible.com View full data Makeo’s two-fold surge in scale and controlled expenditure kept its losses under control which increased 19.6% to Rs 220 crore in FY23. Its ROCE and EBITDA margin stood at -135% and -115.4%, respectively. On a unit level, it spent Rs 2.35 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -218% -115.4% Expense/₹ of Op Revenue ₹3.37 ₹2.35 ROCE -276% -135% MakeO has raised over $90 million across rounds including its latest fundraising of $16 million led by 360 One Asset. According to the data intelligence platform TheKredible, Eight Road Ventures is the largest stakeholder in the company followed by Think Investments. While controlling its losses might seem like a positive here, in its business , it might also point to the high fixed costs that are truly sticky. That would imply a need for a massive improvement in topline for MakeO, something that doesn’t look easy by any stretch in a fiercely competitive market. Especially for Skinnsi. We believe this is a firm that is definitely not out of the woods yet despite improving financials.

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Toothsi parent MakeO reports flat revenue in FY24; losses trim 32%

EntrackrEntrackr · 9m ago
Toothsi parent MakeO reports flat revenue in FY24; losses trim 32%
Medial

Toothsi parent MakeO reports flat revenue in FY24; losses trim 32% Following over twofold growth in FY23, MakeO, the parent company of Toothsi and skincare brand Skinnsi, reported stable revenue for the fiscal year ending March 2024, but succeeded in reducing its losses by 32%. MakeO’s revenue from operations saw a modest increase of 6.5% to Rs 179 crore in FY24 from Rs 168 crore in FY23, according to its consolidated financial statements filed with the Registrar of Companies. Founded in 2018 by Arpi Mehta Shah, Pravin Shetty, Manjul Jain, and Anirudh Kal, MakeO began as the aligner brand Toothsi and later consolidated its flagship brands, including Skinnsi, to offer dental, skin, and hair treatment solutions. The sale of tooth aligners accounted for 69.2% of the operating revenue, increasing by 7% to Rs 124 crore in FY24. The rest of the revenue came from Skinnsi services, including laser hair reduction, facials, anti-aging treatments, and skincare products. Employee benefits remained the largest cost center at 36% of overall expenditure, amounting to Rs 119 crore in FY24. Consultant fees and marketing costs were reduced by 57% and 24%, respectively, to Rs 26 crore and Rs 69 crore in FY24. Other expenses totaled Rs 332 crore in FY24, down from Rs 395 crore in FY23. The cutback in costs helped MakeO reduce its losses by 31.8% to Rs 150 crore in FY24 from Rs 220 crore in FY23. Its ROCE and EBITDA margin stood at -77.3% and -66.12% with an expense-to-earnings ratio of Rs 1.85. At the end of FY24, MakeO’s current assets were Rs 153 crore with cash and bank balances of Rs 93 crore. MakeO has raised over $90 million to date, including $16 million led by 360 One Asset and the investment office of Ashish Kacholia. Eight Roads Ventures is the largest external stakeholder, followed by Think Investment.

MamEarth-parent Honasa posts Rs 1,920 Cr revenue, Rs 110 Cr PAT in FY24

EntrackrEntrackr · 1y ago
MamEarth-parent Honasa posts Rs 1,920 Cr revenue, Rs 110 Cr PAT in FY24
Medial

Honasa Consumer Ltd, the parent firm of the D2C brand MamaEarth, showcased a 28.7% year-on-year growth to near Rs 2,000 crore revenue threshold in FY24. The Gurugram-based firm also posted Rs 110 crore PAT in the same period marking a big turnaround as compared to over Rs 100 crore loss in FY23. Honasa’s revenue from operations grew to Rs 1,920 crore in FY24 from Rs 1,492 crore in FY23, its consolidated financial statements sourced from Bombay Stock Exchange (BSE) show. On a sequential basis, the firm saw a modest 3.7% decrease in revenue to Rs 471 crore in Q4 FY24 from Rs 488 crore in Q3 FY24. The sale of beauty, personal care, and related products across skin, hair, and baby care was the sole source of revenue for Honasa. It also made Rs 48 crore from the interest and gain of financial assets, tallying the total revenue to Rs 1,970 crore in FY24. For the D2C brand, its marketing cum advertisement cost is likely to be the largest cost center but the company didn’t disclose the complete expense breakdown while the cost of procurement of materials formed 31.8% of the overall expenditure. Its employee benefits, finance, depreciation, legal, conveyance, and other overheads took the overall expenditure to Rs 1,822 crore in FY24 from Rs 1,501 crore in FY23. The decent scale and controlled costs helped Honasa post a Rs 110 crore profit in FY24 from a loss of Rs 151 crore in FY23. Its ROCE and EBITDA margins improved to 13% and 9.5%, respectively. On a unit level, it spent Rs 0.95 to earn a rupee in FY24. Note 1: The significant loss of Rs 151 crore in FY23 was attributed to the write-off of its Rs 154 crore investment in Just4kids (Momspresso) which was acquired to expand content and influencer management capabilities. Note 2: Honasa has also encountered a legal suit in the UAE in relation to some distribution agreements with RSM General Trading LLC. The company claimed Rs 100 crore of damages from Honasa Ltd. Further, the court in the UAE also ordered Honsa to pay Rs 57.6 crore plus interest. The company, however, is in the process of making an appeal.

Infra.Market posts Rs 11,846 Cr gross revenue in FY23; remains profitable

EntrackrEntrackr · 1y ago
Infra.Market posts Rs 11,846 Cr gross revenue in FY23; remains profitable
Medial

Construction goods and services platform Infra.Market maintained its growth trajectory with over 9X surge in gross scale during the last two fiscal years, rising from Rs 1,240 crore in FY21 to Rs 11,846 crore in FY23. Despite the hyper-growth, the Mumbai-based company has remained profitable for the past several fiscal years. While the firm’s profit dipped nearly 17% in FY23, Infra.Market’s gross revenue surged 90% to Rs 11,846 crore in the said fiscal year from Rs 6,236 crore in FY22, its consolidated financial statements sourced from the Registrar of Companies show. Infra.Market sells construction materials, infrastructure goods, and technical equipment which accounted for over 96% of its total operating revenue. Collections from these verticals grew nearly 89% to Rs 11,383 crore in FY23 from Rs 6,002 crore in FY22. The company has over 4,000 retail stores with more than 25 exclusive brand outlets across 22 states which is backed by over 100 dedicated manufacturing units. The cost of procurement of materials formed 86% of the overall expenditure. This cost surged 82.1% to Rs 9,974 crore in FY23. As the company hired aggressively to keep up with the growth, its employee benefits grew around 2X to Rs 279 crore in FY23. Infra.Market freight, legal-professional, power-fuel, information technology, and other overheads pushed its total expenditure up by 91.6% to Rs 11,607 crore in FY23 from Rs 6,058 crore in FY22. Check TheKredible for the detailed expense breakup. The notable growth and controlled cost helped Infra.Market to maintain profits which stood at Rs 155 crore during the previous fiscal year. Its ROCE and EBITDA margin stood at 15% and 5.7%, respectively. On a unit level, it spent Rs 0.98 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin 6% 5.7% Expense/₹ of Op Revenue ₹0.97 ₹0.98 ROCE 10% 15% Infra.Market has raised over $500 million across rounds in a mix of equity and debt. According to the startup intelligence data platform TheKredible, Tiger Global is the largest external stakeholder with 21.33% stake followed by Accel and Nexus Ventures which command 16.87% and 8.46% shares, respectively. Head to TheKredible to see the complete shareholding. In the B2B e-commerce (industrial supply) business, Infra.Market competes with the likes of Zetwerk, OfBusiness and Moglix. Zetwerk’s gross revenue from operations grew 130% to Rs 11,448.6 crore in FY23 with a loss of Rs 108 crore. OfBusiness emerged as the largest player in this space with Rs 15,342 crore revenue and Rs 463 crore profit while Moglix reported Rs 4,595 crore in revenue and Rs 193 crore loss in the last fiscal year. With all key players achieving significant balance sheet size on the back of positive PAT or small losses, the segment is set to consolidate, with the possibility of smaller players being absorbed by the top 3 or 4. The category as a whole has enough space to grow, considering the small size of the organised sector and the many emerging opportunities from India’s push to be a manufacturing hub. Players will be willing to bide their time before they seek margin improvement, as they strengthen their positions in their key segments. Be it Zetwerk in say, renewable energy, or construction industry for another etc. Comfortably placed among the top 3, Infra.Market can be expected to continue to deliver healthy topline growth on the back of a fast growing economy in India. Faster bottomline growth or better margins will require a lower share for procurement of materials, something that we believe will not happen quickly.

Traya posts 236 Cr revenue in FY24; turns profitable

EntrackrEntrackr · 9m ago
Traya posts 236 Cr revenue in FY24; turns profitable
Medial

Traya recorded over threefold year-on-year growth, with its revenue crossing Rs 230 crore during the previous fiscal year ending March 2024. Moreover, with this pace, the Mumbai-based company became profitable in the same period. Traya’s revenue from operations surged 3.8X to Rs 236 crore in FY24 from Rs 61 crore in FY23, its annual financial statements sourced from the Registrar of Companies show. Established in 2019, Traya focuses on addressing hair loss at its core by identifying the underlying causes. It provides personalized hair solutions and guidance from a team of experienced hair coaches and physicians. Income from product sales accounted for 99.36% of Traya's total operating revenue, which rose to Rs 234.5 crore in FY24, up from Rs 61 crore in FY23. The rest income came from courier services and doctor consultation fees. Moving on to the expense part, marketing and sales accounted for 43% of the overall expenditure. This cost grew twofold to Rs 98 crore in FY24 from Rs 51 crore in FY23. To the tune of scale, the cost of procurement of materials surged 3.6X to Rs 54 crore in FY24. Traya’s employee benefits also saw a 4X surge to Rs 36 crore in FY23. Other overheads including freight, legal, and travelling increased the overall cost by 154% to Rs 229 crore in FY23 from Rs 90 crore in FY23. The 3.8X growth in scale enabled Traya to achieve a notable profit of Rs 9 crore in FY24, a stark contrast to the Rs 28 crore loss in FY23. Its ROCE and EBITDA margin improved to 8.7% and 5.04%, respectively. On a unit basis, the company spent Rs 0.97 to earn a rupee in FY24. Traya's total current assets recorded at Rs 159 crore, with a cash balance of Rs 85 crore at the end of the previous fiscal year. According to startup-data intelligence platform TheKredible, Traya has raised approximately Rs 96 crore to date, including Rs 75 crore in funding from Xponentia Capital in April this year. The company counts notable investors such as Fireside Ventures, Kae Capital, Xponentia Capital, and Whiteboard Capital.

Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24

EntrackrEntrackr · 7m ago
Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24
Medial

Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24 Decathlon has made a turnaround in FY24, reporting a profit of Rs 197 crore, a sharp recovery from a Rs 18 crore loss in FY23. However, its revenue growth remained flat, registering a 2.2% year-on-year increase for the fiscal year ending March 2024. Decathlon India’s revenue from operations grew to Rs 4,008 crore in FY24 from Rs 3,920 crore in FY23, its annual standalone financial statements sourced from the Registrar of Companies (RoC) show. Decathlon India operates on a direct-to-consumer model, managing the design, manufacturing, and sale of its sports gear through large retail stores and an e-commerce platform. The company currently operates 90 stores across India. The sale of sports products was the sole source of revenue for Decathlon India. It also added Rs 58 crore from interest on investments and other non-operating income which tallied its overall to Rs 4,066 crore in FY24. The cost of procurement was the latest cost center forming 64.4% of the overall expenditure. This cost was reduced by 4.3% to Rs 2,448 crore in FY24, compared to Rs 2,559 crore in FY23. Decathlon India spent Rs 327 crore on employee benefits. Its controlled spending on power, rent, repairs, fuel, advertising, information technology, freight, franchisee fees, and legal/professional expenses led to an overall cost reduction of 4.5% to Rs 3,797 crore in FY24 from Rs 3,975 crore in FY23. Despite modest revenue growth, Decathlon India’s cost-control measures enabled it to post a net profit of Rs 197 crore in FY24, a sharp recovery from a Rs 18.6 crore loss in FY23. On a unit level, the company spent Re 0.95 to earn a rupee, with improved ROCE at 17.79% and EBITDA at 14.49%. By the end of the last fiscal year (FY24), its total current assets stood at Rs 1,247 crore, including Rs 325 crore in cash and bank balances. Last year, Decathlon India CEO Sankar Chatterjee mentioned that the company plans to double its revenue to Rs 8,000 crore within the next 3 to 5 years.

MobiKwik posts Rs 269 Cr revenue and Rs 55 Cr loss in Q3 FY25

EntrackrEntrackr · 8m ago
MobiKwik posts Rs 269 Cr revenue and Rs 55 Cr loss in Q3 FY25
Medial

MobiKwik posts Rs 269 Cr revenue and Rs 55 Cr loss in Q3 FY25 Fintech platform MobiKwik reported its quarterly results for the third quarter of the ongoing fiscal year (Q3 FY25) on the stock exchange today, reflecting a 17.5% year-on-year growth. MobiKwik’s revenue from operations increased to Rs 269 crore in Q3 FY25 from Rs 229 crore in Q3 FY24, its consolidated financial statements accessed from the National Stock Exchange (NSE) show. However, Mobikwik's earnings were reduced by 7.6% in Q3 FY25, compared to Rs 291 crore in Q2 FY25. MobiKwik's primary revenue sources in Q3 FY25 were commissions on recharges, processing, and interest on servicing loans, payment gateways, and technology platforms. However, the company did not provide an income breakdown in its quarterly report. Notably, Mobikwik's payment business grew 166% in Q3 FY25 to Rs 196.5 crore. According to the press release, MobiKwik's registered user base has grown to 167 million with 5 million merchants. The company’s payment of GMV has also increased by 2X year-on-year to Rs 29,400 crore. On the cost side, expenditures on the payment gateway were the largest cost center, accounting for 45.4% of the overall cost, which stood at Rs 144 crore in Q3 FY25. The cost of employee benefits and lending fees was recorded at Rs 44 crore and Rs 25 crore, respectively. Its financial guarantee, legal, advertising, finance, and other overheads took its total expenditure up by 44.1% to Rs 317 crore in Q3 FY25 from Rs 220 crore in Q3 FY24. In the end, Mobikwik reported a net loss of Rs 55.2 crore in Q3FY25, compared to a profit of Rs 5.1 crore in the same quarter of the previous fiscal year. During the first nine months of the ongoing fiscal year, its bottom line is negative at Rs 65.4 crore. Mobikwik made its debut on the stock exchange last Dec 24 with an impressive 59% premium on its issue price on the first day of its listing. The company is currently trading at Rs 406.75 (as of 14:25) with a total market capitalization of Rs 3,160 crore or (approximately $376 million).

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