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AlgoBulls posts 4.4X revenue jump in FY24, swings to positive EBITDA

EntrackrEntrackr · 10m ago
AlgoBulls posts 4.4X revenue jump in FY24, swings to positive EBITDA
Medial

AlgoBulls posts 4.4X revenue jump in FY24, swings to positive EBITDA Algorithmic trading-focused fintech startup AlgoBulls demonstrated hyper-growth during the fiscal year ending March 2024, while keeping tight control on expenses—with losses rising by only 50%. AlgoBulls’ revenue from operations surged to Rs 238 crore in FY24 from Rs 54.5 crore in FY23, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). AlgoBulls is an AI-backed algorithmic trading platform that offers tools enabling traders to automate their strategies. It allows users to either build custom strategies or choose from a range of pre-built options—revenue from these services accounted for 99% of its total revenue. On the expense side, the company’s cost of materials—its largest expenditure—surged 4.5X to Rs 236 crore in FY24, accounting for nearly 98% of total expenses. Employee benefit expenses doubled to Rs 3 crore, while other overheads, including operational and administrative costs, amounted to Rs 2 crore for the year. Overall, the firm’s total expenses jumped 4.3X to Rs 241 crore in FY24 from Rs 56 crore in FY23. AlgoBulls’ net loss increased by 50% to Rs 3 crore in the last fiscal year. However, it reported a positive EBITDA of Rs 1 crore, with an improved EBITDA margin of 0.42%, while its return on capital employed (ROCE) stood at -35%. At a unit level, AlgoBulls spent Rs 1.01 to earn a rupee. As of March 2024, the company reported Rs 9 crore of current assets which includes Rs 2 crore of cash and bank balance. According to TheKredible, AlgoBulls has raised a total of $2.5 million in funding to date, including a $2 million round from lead investor Venture Catalysts, which holds a 2% stake in the company. Meanwhile, the company’s founders—Pushpak Dagade, Jimmit Patel, and Suraj Bathija—collectively own 66.66% of the company.

Agritech startup Nutrifresh books Rs 14 Cr PAT on Rs 145 Cr revenue in FY25

EntrackrEntrackr · 3m ago
Agritech startup Nutrifresh books Rs 14 Cr PAT on Rs 145 Cr revenue in FY25
Medial

Agritech startup Nutrifresh books Rs 14 Cr PAT on Rs 145 Cr revenue in FY25 Agritech startup Nutrifresh Farms delivered another strong performance in FY25, nearing Rs 150 crore in operating revenue with a 50% year-on-year growth. Significantly, the Pune-based company’s profit also rose 55% in the fiscal year ending March 2025. Nutrifresh Farms reported 50% year-on-year growth in its operating revenue to Rs 145.22 crore in FY25 against Rs 96.82 crore in FY24, according to the company’s consolidated financial statements filed with the Registrar of Companies (RoC). Founded in 2019, Nutrifresh Farms uses hydroponic technology to grow pesticide-free fruits and vegetables in climate-controlled farms. Operating largely on a B2B model, it supplies fresh produce to clients like Zepto, Swiggy Instamart, Blinkit, McDonald’s, and Spar, and also offers customized salads through subscriptions. Sale of fresh produce and salads was the sole source of operating revenue for the company. The firm also earned Rs 4.55 crore on interest on deposits which took its total income to Rs 149.77 crore in the last fiscal year. Procurement of materials accounted for 72% total expenses for Nutrifresh which stood at Rs 96.12 crore. This cost surged over 70% in FY25 from Rs 56 crore in the previous fiscal year. Employee benefit expenses also increased by 70% to Rs 10.96 crore while depreciation and amortization expenses accounted for Rs 10.4 crore. Finance cost, rent, transportation cost and other overheads led the overall expenses for the firm to Rs 134.25 crore in FY25 which rose by 48%. Driven by a 50% rise in operating scale, Nutrifresh Farms recorded a 55% jump in operating profit to Rs 13.86 crore in FY25 from Rs 8.94 crore in FY24. The company’s EBITDA margin and ROCE improved to 17.31% and 5.6%, respectively. On a unit level, the company spent Rs 0.92 to earn every rupee of operating revenue in the last fiscal year. According to startup data intelligence platform TheKredible, Nutrifresh Farms has raised approximately $20 million across two funding rounds, including a $5 million seed round in May 2022.

Traya posts 236 Cr revenue in FY24; turns profitable

EntrackrEntrackr · 1y 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.

Isprava doubles its revenue in FY24 with hefty profits

EntrackrEntrackr · 1y ago
Isprava doubles its revenue in FY24 with hefty profits
Medial

Isprava Group, a luxury home development and rental firm, saw its revenue more than double in the fiscal year ending March 2024. The Mumbai-based company also achieved profitability, marking a notable turnaround. Isprava’s gross revenue from operations surged by 2.3X to Rs 452 crore in FY24 from Rs 196 crore in FY23, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Isprava Group builds and rents luxury homes in prime locations like Goa, Alibaug, and the Nilgiris. In addition to selling homes, they rent them as high-end vacation retreats with services like housekeeping and private chefs. The income from the real estate business accounted for 81.86% of the total operating revenue, which increased 89% to Rs 370 crore in FY24 from Rs 195 crore in FY23. The rest of the income comes from hospitality, which stood at Rs 74.5 crore in FY23. The company made an additional Rs 7 crore from interest income on investments which pushed its total revenue to Rs 458.5 crore in FY24. For the home developer firm, the cost of procurement which includes land, consumption of materials, and other construction costs formed 72% of its overall cost. In the line of scale, this cost surged 94% to Rs 299 crore in FY24 from Rs 154 crore in FY23. Its Employee benefit expenses rose by 3X to Rs 61.7 crore, while advertising costs doubled to Rs 14 crore. Other expenses added another Rs 37.3 crore. Its rent, legal, traveling, and other overheads took the total expenditure to Rs 412 crore in FY24 from Rs 206 crore in FY23. The impressive scale helped Isprava to turn profitable with a significant Rs 63 crore of profits in FY24, compared to a loss of Rs 7.5 crore in FY23. Its ROCE and EBITDA margin improved to 22.64% and 12.45% respectively with an expense-to-earning ratio of Rs 0.91. At the end of FY24, the company had a current asset worth Rs 446 crore including Rs 119 crore of cash and bank balance. Isprava has secured Rs 1,216.95 crore (over $150 million) in funding, including a Rs 160 crore round in January of the previous year. The Darshan Shah Family Trust holds nearly a 40% stake in the company. Prominent investors include the Nadir Godrej Family Office, Burman Family Office, and Symphony International Holdings.

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