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Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr

EntrackrEntrackr · 1y ago
Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr
Medial

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr Treebo Hotels, a premium-budget hotel chain, crossed the Rs 100 crore revenue milestone in the fiscal year ending March 2024. Despite this growth, the Bengaluru-based company saw its losses rise by 17%, bringing total outstanding losses to Rs 488 crore. Treebo Hotels’s revenue from operations grew 22.5% to Rs 109 crore in FY24 from Rs 89 crore in FY23, its consolidated financial statements filed with the Registrar of Companies show. Income from accommodation services (taken on lease and managed properties) formed 95% of the total operating revenue which increased by 22.3% to Rs 104 crore in FY24 from Rs 85 crore in FY23. The rest of the income comes from the sale of products, and subscription services. The company also added Rs 7.22 crore as other income (non-operating) which tallied its overall revenue to Rs 116 crore in FY24 from Rs 94 crore in FY23. Treebo spent 41% of its overall expenditure on employee benefits which increased marginally by 7% to Rs 59 crore in FY24. Its cost and commission surged 70% and 48% to Rs 17 crore and Rs 43 crore in the previous fiscal year. Its cost of materials, legal, technology, traveling, and other overheads took the overall cost up by 22% to Rs 144 crore in FY24 from Rs 118 crore in FY23. The increased advertising and commission costs led Treebo to raise its losses by 16.7% to Rs 28 crore in FY24, compared to Rs 24 crore in FY23. Its ROCE and EBITDA margin stood at -540% and -18.1% respectively. On a unit level, it spent Rs 1.32 to earn a rupee in FY24. The company’s total current assets stood at Rs 34 crore with cash and bank balances of Rs 7 crore in the previous fiscal. According to startup data intelligence platform TheKredible, decade-old Treebo has secured Rs 566 crore (approximately $70 million) in funding from investors including Accor, Elevation Capital, Matrix Partners, and Bertelsmann. The company’s most recent major funding, amounting to $16 million, was raised in June 2021. Treebo competes directly with Bloom Hotels and FabHotels. In FY24, Bloom Hotels saw its operational revenue rise by 73.6% to Rs 250 crore, with a profit of Rs 14 crore. FabHotels recorded Rs 224 crore in operating revenue for FY23 but has not yet filed its FY24 annual report.

Spice brand Zoff crosses Rs 100 Cr revenue in FY25; slips into losses

EntrackrEntrackr · 19d ago
Spice brand Zoff crosses Rs 100 Cr revenue in FY25; slips into losses
Medial

Shark Tank featured spice brand Zoff crossed the Rs 100 crore mark in the last fiscal year ending March 31, 2025. However, the Aman Gupta-backed company slipped into losses in the same period due to higher expenses and write-offs. Zoff’s revenue from operations grew by 11% to Rs 103 crore in FY25 from Rs 93 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). Co-founded in 2018 by Akash and Ashish Agrawal, Zoff specializes in high-quality spices. The brand offers a curated selection of spices, dry fruits, and whole food products. The company’s cost structure expanded at a much faster pace than revenue. Its total expenses increased 32% to Rs 120 crore in FY25 from Rs 91 crore in FY24. Cost of materials remained the largest expense for Zoff, accounting for 61% of the total cost. To the tune of scale, this cost rose 22% to Rs 73 crore in FY25 from Rs 60 crore in FY24. Advertising expenses jumped threefold to Rs 12 crore in FY25 from Rs 4 crore in FY24. Employee benefit expenses increased 25% to Rs 5 crore. The company also reported Rs 4 crore as bad debt write-offs during the year. The company lost its profitability and posted a loss of Rs 17 crore in FY25, as compared to a loss of Rs 20 lakh in FY24. Its ROCE and EBITDA margin stood at -54.17% and -17.96% respectively. On a unit basis, Zoff spent Rs 1.17 to earn a rupee of operating revenue during the year, compared to Rs 0.98 in the previous fiscal. Zoff’s current assets increased to Rs 50 crore from Rs 43.5 crore. The company’s cash and bank balances stood at Rs 0.2 crore at the end of FY25. According to TheKredible, Zoff has raised around $5 million of funding till date, having JM Financial India as its lead investor. The company’s co-founders Akash and Ashish Agarwal together own 52.5% of the company. The company is reportedly planning to raise a new round as it eyes offline expansion. The rise of losses even as it barely registered double-digit growth indicates growth challenges at the firm. The rise of raw material costs as well as advertising in particular are a surprise, considering the publicity bump it received from Shark Tank. Spices remain an intensely competitive category, and spreading itself too thin may not be the best idea for Zoff, and will simply lead to more commoditization of its offerings.

Exotel crosses 400 Cr revenue in FY23; losses jump 2.5X

EntrackrEntrackr · 1y ago
Exotel crosses 400 Cr revenue in FY23; losses jump 2.5X
Medial

Cloud telephony platform Exotel has been bleeding in pursuit of growth, as evident from its financials for the fiscal year ending March 2023. The company released its annual results this week, originally due on September 30, 2023. Exotel’s revenue from operations grew 32.1% to Rs 420 crore in FY23 from Rs 318 crore in FY22, its consolidated financial statements sourced from the Registrar of Companies (RoC) show. The 13-year-old company offers voice and SMS contact center capabilities for businesses to manage their customer engagement over the cloud. The rendering of internet-enabled cloud communication services was the primary source of revenue for Exotel. Income from software license, chatbot services, and the sale of its products including API(s), browser extension, software development kit, and mobile phone applications were other co-revenue channels for Exotel. The Blume Ventures-backed firm generated 81% of its operating revenue from domestic services, with the remaining revenue coming from Southeast Asia, the Middle East, and Africa in FY23. Moving towards the cost side, employee benefits accounted for 44.2% of the overall expenditure which increased 43.3% to Rs 245 crore in FY23 from Rs 171 crore in FY22. The company’s spending on telephone-postage, legal, marketing (advertising cum promotional), hosting, and other overheads inflated its overall cost by 51.8% to Rs 554 crore in FY23 as compared to Rs 365 crore in FY22. See TheKredible for the complete expense breakdown. The 45% and 65% surge in employee benefits and telephone/postage, respectively, led Exotel to post a 2.5X increase in losses to Rs 109 crore in FY23 from Rs 45 crore in FY22. Notably, the company was making profits during FY21 and FY20. Its ROCE and EBITDA margin worsened to -21.9% and -18.3%, respectively. On a unit level, it spent Rs 1.32 to earn a rupee in FY23. Exotel certainly had a lot of hype and hopes around its future back in 2020, but those hopes seem to have been belied, if we consider the story since then. Slipping into losses aside, the firm has also grown below estimates at the time. Notably, the company had claimed at the time of its last fund raise in 2022 that it is growing at an annualized rate of 70% on a revenue run rate of $50 million, or almost 400 crores. Competition in the cloud telephony business might be one thing, but margins is a bigger issue. FY22-FY23 FY22 FY23 EBITDA Margin -4.88% -18.34% Expense/₹ of Op Revenue ₹1.15 ₹1.32 ROCE -4.70% -21.90% Exotel has raised over $100 million to date including $40 million led by Steadview Capital in 2022. According to the startup data intelligence platform TheKredible, A91 Partners is the largest external stakeholder with a 25.7% stake followed by Blume Ventures. Head to TheKredible for the complete shareholding pattern.

Ergos gross revenue crosses Rs 200 Cr in FY23; losses stagnant

EntrackrEntrackr · 1y ago
Ergos gross revenue crosses Rs 200 Cr in FY23; losses stagnant
Medial

Agritech platform Ergos has managed to grow its scale by two-thirds in the fiscal year ending March 2023 with sound economics as the Bengaluru-based company kept losses in check during the period. Ergos’ gross revenue grew 66% to Rs 224 crore in FY23 from Rs 135 crore in FY22, its annual financial statements (FY23) filed with the Registrar of Companies show. Ergos enables farmers to convert their grains into tradable assets, access credit against stored produce, and make better yields. It also provides harvest supply chain solutions by leveraging technology. The sale of commodities to the customer was the primary source of revenue for Ergos contributing to 96% of overall operating income. Wheat turned out to be the largest revenue driver followed by maize, paddy, and others. Rest of the revenue came from warehousing management fees. Visit TheKredible for a detailed revenue breakup. On the expenses side, procurement costs formed 64.8% of the overall expenditure which spiked 65% to Rs 211 crore in FY23. Other costs such as employee benefits, rent, professional, vehicle and traveling costs took its overall expenditure to Rs 249 crore in FY23 from Rs 160 crore in FY22. Head to TheKredible for a complete expense breakup. The decent growth in scale and effective cost mechanism helped Ergos to control its losses which stood at Rs 24 crore in FY23 as compared to Rs 23 crore in FY22. Its ROCE and EBITDA margin stood at -69% and -8.9% respectively. On a unit level, Ergos spent Rs 1.11 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -16% -8.9% Expense/₹ of Op Revenue ₹1.19 ₹1.11 ROCE -44% -69% As of now, Ergos has raised around $32 million across several rounds and was last valued at around $55 million. According to the startup data intelligence platform TheKredible, Aavishkaar Capital is the largest stakeholder with 48% followed by Chiratae Ventures and CDC Group. Currently, its founder and chief executive officer Kishor Kumar Jha commands 11.84% of the company. Operating to provide farmers avenues beyond MSP procurement one assumes, Ergos ses to be on a good pitch to leverage inefficiencies in the supply chain. However, one has to wonder just how far and high the model can take the firm. Perhaps a move into other crops will follow once enough of a network and learnings have been built in.

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