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Traya posts 236 Cr revenue in FY24; turns profitable

EntrackrEntrackr · 6m 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.

Arya.ag reports Rs 340 Cr revenue in FY24, profit surges 2.5X

EntrackrEntrackr · 6m ago
Arya.ag reports Rs 340 Cr revenue in FY24, profit surges 2.5X
Medial

Arya.ag became the first agritech startup to secure two funding rounds in 2024. This milestone was driven by a significant increase in scale while maintaining profitability, a rarity in the sector in recent years. Arya.ag’s operating revenue climbed 18% to Rs 340 crore in FY24 from Rs 288 crore in FY23, as per its consolidated financial statement sourced from the Registrar of Companies (RoC). Noida-based Arya.ag is a grain commerce platform, connecting agriproduce sellers and buyers. It enables farmgate storage, finance, and year-round supply, serving farmers, FPOs, financial institutions, SME processors, traders, and corporate agribusinesses. Its subsidiary, Aryadhan, offers warehouse receipt financing. Storage and warehousing income was the largest contributor and generated Rs 212.8 crore or 62.64% of total operating revenue, with a 7.5% rise. Interest income on loans rose significantly by 27.2% to Rs 55.4 crore, while other income contributed another Rs 71.5 crore. The company earned additional Rs 13 crore from non-operating revenue which pushed its total income to Rs 352 crore in FY24. On the expense front, the cost of services, its largest expense, grew marginally by 3.1% to Rs 183.9 crore, representing 55.66% of total expenses, employee benefit costs rose by 17.1% to Rs 50 crore, while finance expenses surged by 56.3% to Rs 60 crore. Other expenses added another Rs 36.5 crore. Overall, Arya.ag’s total expenses increased by 16% to Rs 330.4 crore in FY24 from Rs 284.6 crore in FY23. Arya.ag’s profit spiked 2.5X to Rs 19 crore in FY24 from Rs 7.6 crore in FY23. Its ROCE and EBITDA margin stood at 14.87% and 25.3% respectively. Arya.ag’s expense-to-earning ratio stood at Rs 0.97. As of March 2024, the firm reported Rs 1114 crore of current assets including Rs 103 crore of cash and bank balance. According to TheKredible, Arya.ag has raised a total of $144 million in funding till date having Lightrock Venture and Aspada Investment Company as its lead investors. Recently, the firm secured a $19.8 million commitment from the United States International Development Finance Corporation (DFC) to guarantee a debt facility for its agri-commerce subsidiary, Aryatech.

Arya.ag reports Rs 447 Cr revenue in FY25; profits spike 70%

EntrackrEntrackr · 2m ago
Arya.ag reports Rs 447 Cr revenue in FY25; profits spike 70%
Medial

Arya.ag reports Rs 447 Cr revenue in FY25; profits spike 70% Agritech and financing platform Arya.ag claims a 27% year-on-year growth in operating revenue for the fiscal year ending March 2025, according to its press release. Notably, the Gurugram-based firm also recorded a sharp 70% surge in profit after tax (PAT) during the same period. According to its strategic financial report shared by the company for FY25, Arya.ag’s net revenue rose to Rs 447 crore, while its gross revenue stood at Rs 5,738.7 crore in this period. Aided by platform-wide efficiency and cost optimisation, Arya.ag’s take rate (fees for marketplace) grew to 3.8% in FY25 from 3.4% in FY24, while its profit before tax (PBT) rose 95% year-on-year to Rs 43 crore in FY25. In FY25, Arya.ag managed agricultural commodities valued at Rs 26,961 crore across its warehouses, representing a total volume of 7.37 million metric tonnes (MMT). The company also claims to have disbursed Rs 14,182 crore worth of agricultural inputs stored in these warehouses directly to customers from its own balance sheet. The firm disbursed Rs 2,000 crore in loans backed by stored crops, providing farmers with a platform for storage, credit, and selling their produce. For context, Arya.ag’s interest income from financing stood at Rs 55.4 crore in FY24. Arya.ag also expanded its strategic partnerships: with banks for co-lending, processors for value-added commerce, and climate-focused organisations. Looking ahead to FY26, the company aims to expand its geographic footprint and deepen tech capabilities. Arya.ag has raised a total of $174 million of funding to date, having Lightrock Venture and Aspada Investment Company as its lead investors. The firm recently secured a $19.8 million commitment from the United States International Development Finance Corporation (DFC) to guarantee a debt facility for its agri-commerce subsidiary, Aryatech.

Leegality turns profitable with 87% revenue growth in FY24

EntrackrEntrackr · 9m ago
Leegality turns profitable with 87% revenue growth in FY24
Medial

Document infrastructure platform Leegality maintained its growth trajectory in the fiscal year ending March 2024. After achieving 100% revenue growth in FY23, the IIFL Fintech Fund-backed company reported an 87% spike in scale in the latest fiscal year. Leegality’s revenue from operations jumped to Rs 62 crore in FY24, as per its financial statement filed with the Registrar of Companies. Leegality enables businesses to digitally transform document logistics, eliminating physical paperwork in the lending ecosystem by providing digital infrastructure, including eSign and eStamping solutions. The sale of these services was the only source of collection for the firm in FY24. Leegality additionally earned Rs 4.2 crore from interest on bank deposits, bringing its total income to Rs 66.41 crore in FY24, a substantial increase from Rs 35.51 crore in FY23. Looking at expenses, employee benefit was the major contributor, accounting for 56% of total costs, increasing by 62.5% to Rs 36.4 crore in FY24 from Rs 22.4 crore in FY23. E-Sign Charges made up 15% of total expenses, rising 2.3 times to Rs 9.5 crore.Tech infrastructure formed 10% of expenses, growing by 55% to Rs 6.6 crore. Other costs, including stamp processing, advertising, and legal fees, brought total expenses to Rs 65 crore during the last fiscal year, reflecting a 66% increase from Rs 39 crore in FY23. With significant revenue growth, Leegality turned profitable in FY24, reporting a profit of Rs 1.11 crore, compared to a loss of Rs 3.5 crore in FY23. Its ROCE and EBITDA margin stood at -2.75% and 3.33%, respectively. On a unit-basis level, the company spent Rs 1.04 to earn each rupee of operating revenue in FY24. FY23-FY24 FY23 FY24 EBITDA Margin -8.53% 3.33% Expense/₹ of Op Revenue ₹1.18 ₹1.04 ROCE -7.49% 2.75% Even though it operates in a fairly competitive space, Leegality’s turn to profitability indicates the ‘sensible’ economics within the segment. Even as more and more transactions and the documentation required are being digitised, the scope of work for Leegality and its peers will only increase, providing a clear pathway to growth. The only risk we can see is any government backed alternative like say, Digilocker which expands services to overlap with what these offer.

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