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ApnaKlub reports Rs 537 Cr gross revenue in FY24 with sound economics

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B2B e-commerce platform ApnaKlub sustained its growth momentum in the last fiscal year, with gross revenue nearly doubling. Despite this rapid growth, the company reduced its losses by 14%, bringing them below Rs 50 crore in the fiscal year ending March 2024. Apnaklub’s gross revenue spiked to Rs 536.78 crore in FY24 from Rs 278.32 crore in FY23, its financial statements show. Apnaklub is a B2B wholesale platform which connects retailers and kirana stores, and fast-moving consumer goods (FMCG) brands. With Rs 250 crore, the sale of personal care products topped the collection chart in FY24, followed by beverages at Rs 95.34 crore during the last fiscal year. Revenue from home care and processed foods stood at Rs 82 crore and Rs 80.6 crore, respectively. The firm also has earned Rs 5 crore from the interest on long-term investments which took its total revenue to Rs 541 crore in FY24. The cost of materials accounted for 86% of the total expense which spiked 84.83% to Rs 508.05 crore in FY24 from Rs 278 crore in FY23. Employee benefit expenses grew by 33.84% to Rs 31.60 crore in FY24 while transportation expenses rose by 41.56% to Rs 11.41 crore. Other expenses added another Rs 38.69 crore, making the total expense to surge by 77.4% to Rs 589.75 crore in FY24. In the end, the company’s net loss shrank by 13.84% to Rs 47.93 crore in FY24 from Rs 55.63 crore in FY23. Its losses excluding ESOP cost stood at Rs 45.9 crore. The company reported an EBITDA loss of Rs 44.7 crore, while its adjusted EBITDA loss was at Rs 42.63 crore in the last fiscal. Its ROCE and EBITDA margin stood at -79.36% and -8.25%, respectively. On a unit basis, the company spent Rs 1.1 to earn a rupee of operating revenue. ApnaKlub reported cash and bank balances of Rs 39.13 crore and current assets of Rs 90.55 crore in FY24. According to TheKredible, ApnaKlub has raised a total funding of Rs 190.78 crore (approximately $24.4 million) to date. Its investors include Tiger Global, Blume Ventures, Whiteboard Capital, and Surge Ventures.