🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

ApnaKlub’s gross revenue spikes 6X to Rs 278 Cr in FY23

EntrackrEntrackr · 1y ago
ApnaKlub’s gross revenue spikes 6X to Rs 278 Cr in FY23
Medial

B2B consumer goods startup ApnaKlub raised $16 million led by TrueScale Capital and ICMG partners in January this year. And, it looks like the company’s growth numbers attracted the two backers: Its gross scale spiked nearly six-fold in the fiscal year ending March 2023. ApnaKlub’s gross revenue grew to Rs 278 crore in FY23 from Rs 47 crore in FY22, its financial statements sourced from RoC show. Founded in 2020, Apnaklub connects retailers, kirana stores, and fast-moving consumer goods (FMCG) brands via its wholesale partners. The sale of products was the primary source of revenue for ApnaKlub. Its personal care products top the collection charts followed by beverages, home care, processed foods, and others. The company also has an income of Rs 3 crore from the interest on long-term investments (non-operating) in FY23. See TheKredible for the detailed revenue breakup. In line with fellow B2B wholesale startups, the cost of procurement of goods turned out to be the largest cost center forming 82% of the overall expenditure. In sync with scale, this cost surged 5.8X to Rs 275 crore in FY23 from Rs 47 crore in FY22. ApnaKlub’s employee benefits, rent, advertising cum promotional, freight, contract, legal, and other overheads pushed its total expenditure to Rs 332 crore in FY23 from Rs 63 crore in FY22. Head to TheKredible for the detailed expense breakup. ApnaKlub bled heavily in pursuit of growth, leading to a 4.6X increase in losses to Rs 56 crore in FY23 as compared to Rs 12 crore in FY22. Its ROCE and EBITDA margins were recorded at -50% and -17.4% respectively. On a unit level, it spent Rs 1.19 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -32% -17.4% Expense/₹ of Op Revenue ₹1.34 ₹1.19 ROCE -52% -50% While ApnaKlub might be on a path to breakeven only at a Rs 1000 crore plus turnover, the higher share of personal care products might allow a faster path to profitability, considering the better margins in that segment. Having said that, it is no secret that the actual marketplace for this segment is a battlefield that has left most players bloodied, if not fatally wounded. ApnaKlub must be doing something different to convince investors to bet on it in the current funding environment, and just for that, the firm needs to be tracked carefully for the next steps on its journey.

Related News

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

EntrackrEntrackr · 8m ago
ApnaKlub reports Rs 537 Cr gross revenue in FY24 with sound economics
Medial

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.

CitiusTech’s profit balloons 6X to Rs 350 Cr in FY24

EntrackrEntrackr · 8m ago
CitiusTech’s profit balloons 6X to Rs 350 Cr in FY24
Medial

Bain Capital Private Equity-backed healthcare technology and consulting platform CitiusTech reported flat revenue growth for the fiscal year ending March 2024. However, the Mumbai-based firm’s profit surged six-fold on the back of reduction in key expenses, including consulting charges. CitiusTech’s revenue increased by 1% to Rs 3,536 crore in the last fiscal year from Rs 3498 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies shows. CitiusTech is a healthcare technology services and solutions provider offering consulting, engineering, manufacturing, and data-oriented software to large hospitals and healthcare organizations. Its core business—software development, implementation, and support services—accounted for 98.8% of the operating revenue which grew by 2.49% to Rs 3,495 crore in FY24. However, revenue from the sale and maintenance of software licenses declined by 53% to Rs 38 crore. The firm also generated an additional Rs 15.7 crore from non-operating activities, which took its total revenue to Rs 3,551 crore in FY24. On the expense side, employee benefit expenses remained the largest cost driver, accounting for 75% of the expenses. This cost increased by 4.2% to Rs 2,226 crore in FY24 from Rs 2,137 crore in FY23. Depreciation expenses increased by 6.2% to Rs 136 crore, while consultancy charges decreased 7.53% to Rs 299 crore. Overall, CitiusTech’s total expenses rose 3.31% to Rs 2,968 crore in FY24 from Rs 2,873 crore in FY23. CitiusTech achieved a notable milestone as its profit after tax (PAT) spiked 6X to Rs 350.28 crore in FY24 from Rs 55.5 crore in FY23. Its ROCE and EBITDA margin stood at 37.67% and 20%, respectively. On a unit basis, the company spent Re 0.84 to earn a rupee in FY24. The company reported Rs 458 crore in cash and bank balances and had current assets of Rs 1232 crore as of FY24. CitiusTech’s bottomline growth might have impressed, but the topline stagnation will be a worry for the firm that had targeted $500 million (Rs 4100 crores then) as recently as Sep 2023. With a $1 billion target for FY28, the firm is expected to consider all possible avenues, including acquisitions to fund growth. Baring Private Equity acquired the firm for $955 million in 2022 after it had filed for an IPO in the US, which would seem to give it at least a couple more years to expand before Barings seeks an exit via an IPO possibly.

Juspay’s revenue spikes 88% to Rs 213 Cr in FY23; losses stand still

EntrackrEntrackr · 1y ago
Juspay’s revenue spikes 88% to Rs 213 Cr in FY23; losses stand still
Medial

Payments technology firm Juspay has been consistent in its scale with 85% YoY growth in the last two fiscal (FY23 and FY22). At the same time, the SoftBank-backed company kept a tight rein on its losses which remained almost unchanged in the fiscal year ending March 2023. Juspay’s revenue from operations grew 88.5% to Rs 213 crore in FY23 from Rs 113 crore in FY22, its annual financial statements filed with the Registrar of Companies show. Juspay offers payment processing technology to merchants and is working behind offline payment solutions. Its flagship products include Juspay Safe, HyperSDK, Express Checkout, and UPI in a Box. It claims to process over 100 million transactions with an annualized TPV (total payment value) of more than $500Bn. Payment platform integration and related services were the primary source of revenue for Juspay. The company also earned Rs 24 crore from interest on non-current and current investments which tallied Juspay’s total income to Rs 213 crore during the previous fiscal year (FY23). Similar to other payments companies, its employee benefits emerged as the largest cost center forming 62% of the overall expenditure. This cost surged 70% to Rs 214 crore in FY23 from Rs 126 crore in FY22. This includes 54 crore as ESOP cost which is non-cash in nature. Juspay’s expenses on rent, information technology, legal professional, advertising, and overheads took its overall cost up by 53.8% to Rs 343 crore in FY23 from Rs 223 crore in FY22. Check TheKredible for a detailed expense breakdown. The impressive scale with a tight control on expenses helped Juspay control its losses which increased only by 5% to Rs 106 crore in FY23 as compared to Rs 101 crore in FY22. Its ROCE and EBITDA margin improved -21% and -40.9% respectively. On a unit level, the Accel Partners-backed firm spent Rs 1.61 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -80% -40.9% Expense/₹ of Op Revenue ₹1.97 ₹1.61 ROCE -24% -21% The Bengaluru-based company secured over $85 million across rounds including a $60 million round led by SoftBank in 2021. According to the startup data intelligence platform TheKredible, Accel is the largest external stakeholder with 12.39% followed by VEF VC and SoftBank.

Bambrew’s revenue spikes 4.7X to Rs 44 Cr in FY23

EntrackrEntrackr · 1y ago
Bambrew’s revenue spikes 4.7X to Rs 44 Cr in FY23
Medial

Sustainable packaging startup Bambrew’s multi-fold growth in the last two fiscal years appears to have drawn investors’ attention as it closed a $7 million round of funding last week. To put things in perspective, the company’s operating scale rose 58X to Rs 43.52 crore in FY23 from Rs 75 lakh in FY21. As far as year-on-year growth is concerned, Bambrew’s revenue from operations spiked 4.66X to Rs 43.52 crore in FY23 from Rs 9.34 crore in FY22, its financial statements sourced from the Registrar of Companies (RoC) shows. Founded in 2018 by Vaibhav Anant and Saikat De, Bambrew is a green packaging startup which offers eco-friendly and purely handmade sustainable products made from bamboo, sugarcane and seaweed. Revenue from sales of goods was the only source of the company’s income while it also earned Rs 70 lakh as other income from non operating activities (interest on fixed deposit, sale of scrap and others). Cost of goods sold was the major expense for Bambrew which accounted for 68.30% of the total expenditure followed by employee benefit and freight charges of Rs 7.32 crore and Rs 3.36 crore respectively. Bambrew’s legal professional charges, warehouse renting and other overheads brought its total expenditure to Rs 62.23 crore in FY23. Head to Thekredible for a detailed expenses breakup. As the firm prioritized growth, its losses blew 5.33X to Rs 18.03 crore in the fiscal year ending March 2023 as compared to Rs 3.38 crore in FY22. Its ROCE and EBITDA margin stood at -782% and -34.5%, respectively. On a unit level, Bambrew spent Rs 1.43 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -34% -34.5% Expense/₹ of Op Revenue ₹1.36 ₹1.43 ROCE -27% -782% According to the startup data intelligence platform TheKredible, Anant was the largest stakeholder in the company with 43.20% followed by Bambrew’s early backer Blue Ashva and others before its Series A round. Bambrew’s losses might have outrun its revenue growth, but the firm has a massive opportunity waiting ahead for it, as the idea of sustainable packaging catches on. Worries around its cost versus traditional plastic packaging are also receding as more and more product categories see it as one key aspect to have to premiumize their offerings. For Bambrew, it all means working to ensure it can meet market demand, and the more and better it controls its costs, the firm will discover that there is pretty much unlimited demand in the near future for it .

Bounce’s revenue surges 6X to Rs 91 Cr in FY23; cuts losses

EntrackrEntrackr · 1y ago
Bounce’s revenue surges 6X to Rs 91 Cr in FY23; cuts losses
Medial

Electric scooter manufacturer Bounce grew six-fold in the fiscal year ending March 2023 while also reducing losses by 19% at the same time. Bounce’s revenue from operations surged to Rs 91 crore in FY23 from Rs 15 crore in FY22, its consolidated financial statements filed with the Registrar of Companies (RoC) show. Bounce Founded in 2014 by Anil G, Varun Agni, and Vivekananda Hallekere, Bounce initially focused on providing bike rental services. But in 2022, the company made a strategic shift to become an electric vehicle (EV) manufacturer. As a result, electric scooters contributed to 92% of the company’s total revenue in FY23. The rest of the income came from renting vehicles, the sale of spare parts, and software subscription charges. Bounce also made Rs 8 crore from interest on deposits tallying its total income to Rs 99 crore in FY23. Head to TheKredible for a complete revenue breakdown. Being an electric two-wheeler maker, the cost of procurement constituted 30% of the overall expenditure and burned Rs 89 crore during the previous fiscal year. Bounce’s employee benefit costs remained flat in the same period. Its legal/professional, advertising cum promotional, subcontractor, finance cost, amortization, and overheads took the overall expenditure to Rs 297 crore in FY23 from Rs 277 crore in FY22. Check TheKredible for the detailed expense breakup. Expenses Breakdown Total ₹ 277 Cr https://thekredible.com/company/bounce/financials View Full Data To access complete data, visithttps://thekredible.com/company/bounce/financials Total ₹ 297 Cr https://thekredible.com/company/bounce/financials View Full Data To access complete data, visithttps://thekredible.com/company/bounce/financials Employee benefit Employee benefit Legal professional Legal professional Advertising promotional Advertising promotional Subcontractor and manpower supply Subcontractor and manpower supply Finance cost Finance cost Depreciation Depreciation Others Others Cost of materials consumed To check complete Expense Breakdown visit thekredible.com View full data Bounce effectively managed to cut its costs, leading to a 19% reduction in losses to Rs 197 crore in FY23 from Rs 243 crore in FY22. Its ROCE and EBITDA stood at -82% and -142% respectively. On a unit level, it spent Rs 3.26 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -524% -142% Expense/₹ of Op Revenue ₹18.47 ₹3.26 ROCE -60% -82% Bounce has raised around $200 million across several financing rounds. According to the startup data intelligence platform TheKredible, Accel is the largest stakeholder with 26.62% followed by Peak XV and B Capital. Go to TheKredible for the complete shareholding pattern.

Download the medial app to read full posts, comements and news.