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Profitable bootstrapped D2C brand Blue Tea projects Rs 65 Cr sales in FY26

EntrackrEntrackr Ā· 17d ago
Profitable bootstrapped D2C brand Blue Tea projects Rs 65 Cr sales in FY26
Medial

Profitable bootstrapped D2C brand Blue Tea projects Rs 65 Cr sales in FY26 Bootstrapped herbal wellness brand Blue Tea recorded more than 46% year-on-year growth in operating revenue to Rs 37 crore in the fiscal year ended March 2025. With decent growth, the firm remained profitable during the year. Speaking to Entrackr, co-founder Nitesh Singh said the growth was driven by higher order frequency and deeper channel penetration, with the brand recording a 68% increase in annual recurring revenue (ARR). India contributed nearly 80% of total revenue, while international markets made up the remainder, he added. Commenting on the minor decline in profit, Singh said that it was a consequence of short-term headwinds in the US market, which the brand expects to be resolved in FY26. The standalone India business showed a strong upside, with a 75% year-on-year growth in net profit. Importantly, Blue Tea has now built a customer base of over 25 lakh consumers, a sign of strong brand recall and repeat consumption in the herbal wellness category. Now, the brand has been expanding its footprint beyond metro cities, and nearly 59% of domestic sales now originate from non-metro and non-tier I markets, which signalled wider awareness and adoption of herbal wellness beverages across smaller cities. ā€œOur own website contributed around 50% of India's revenue as of December 2025,ā€ said Singh. Quick commerce has emerged as a breakout lever in FY25 for Blue Tea. ā€œWe reported a 20X surge over the last six months across platforms such as Blinkit, Flipkart Minutes, Amazon Now, and Zepto,ā€ stressed Singh. Itā€™s currently selling approximately 5,200 units per day across channels including quick commerce. ā€œOver the last 36 months, India's sales have increased 20X,ā€ he added. Blue Tea operates in what Singh estimates to be a $6 billion wellness beverage market, led by rising consumer preference for caffeine-free, plant-based and functional drinks. Started in 2018, the company follows a farm-to-cup sourcing model and works directly with more than 600 farmers, enabling quality-controlled procurement and supply chain transparency while maintaining margin discipline. ā€œWe have already clocked Rs 52 crore in revenue till January in the ongoing fiscal year and are projecting Rs 65 crore for FY26, targeting over 60% year-on-year growth with a sharper focus on quick commerce and distribution expansion,ā€ said Singh. Over the next three years, the company aims to scale to Rs 350 crore in revenue. With profitability intact, deeper penetration in non-metros and quick commerce, Blue Tea appears to be building scale through distribution strength and repeat behaviour rather than discount-driven growth.

Solarium Green Energy's Rs 105 Cr SME IPO opens on Feb 6

EntrackrEntrackr Ā· 1y ago
Solarium Green Energy's Rs 105 Cr SME IPO opens on Feb 6
Medial

Turnkey solar solutions provider Solarium Green Energy is set to launch its SME initial public offering (IPO) on February 6, 2025, aiming to raise Rs 105.04 crore (approximately $12.5 million). According to the press release, the IPO comprises 55,00,000 shares with a face value of Rs 10 each, priced in the range of Rs 181-191 per share. The lot size for the IPO is 600 equity shares, requiring a minimum investment of Rs 1,41,600 for investors looking to participate. 46% of the total share allocation (26,05,000 shares) is reserved for Qualified Institutional Buyers. High Net-Worth Individuals (HNIs) will receive 7,82,400 equity shares, while market makers will be allocated 2,86,8000 shares. Retail investors will account for 33.17% of the total share allocation. The IPO issue will be open from 06th February to 10th February. According to the company, the net proceeds from the IPO will be utilized to meet working capital requirements and to address general corporate purposes. Founded by Ankit Garg, Solarium Green Energy Limited specializes in turnkey solar solutions. It offers services such as design, engineering, procurement, testing, installation, commissioning, and comprehensive operation and maintenance (O&M). The company claims to have executed 11,195 residential rooftop projects, 172 commercial and industrial (C&I) projects, and 17 government projects during April 2021 to September 2024. Solarium has reported a revenue of Rs 177.80 crore with net profits of Rs 15.59 crore during the fiscal year ended March 2024. Meanwhile, in H1FY25 (the first half of the ongoing fiscal), its revenue was recorded at Rs 81.99 crore with net profits of Rs 7.55 crore. The firm achieved this growth without any venture or institutional funding. Solarium, which competes with Zunroof, SolarSquare, Cleantech, Mysun, Oorjan, and Freyr Energy, has become the first company from the Indian startup ecosystem to launch an SME IPO in 2025. Last year, Trust Fintech, TAC Security, and Menhood also went public through the SME route.

Exclusive: SriMandirā€™s parent AppsForBharat in talks to raise $15-20 Mn

EntrackrEntrackr Ā· 1y ago
Exclusive: SriMandirā€™s parent AppsForBharat in talks to raise $15-20 Mn
Medial

AppsForBharat, the parent company of devotional app SriMandir, is in talks to raise a new round from new and existing investors, according to three people aware of the development. ā€œAppsForBharat is in late-stage discussion with three new investors to raise $15-20 million,ā€ said one of the sources requesting anonymity. ā€œAn Indian growth stage fund and a Singapore-based investor are in the race to lead the round.ā€ Sources outline that the Bengaluru-based growth stage fund has backed companies including Spinny, Pharmeasy, FarEye and Probo. The Bengaluru-based startup had scooped up $10 million Series A in September 2021 and $4 million Seed round in August. As per sources, AppsForBharat is seeking a valuation of close to $100 million. ā€œExisting investors including Peak XV and Elevation will also join the round on a pro-rata basis. The contours of the deal are being chalked out and the deal is likely to materialize later this month,ā€ said another source who also wished not to be named as discussions are private. Queries sent to AppsForBharat didnā€™t elicit any response. AppsForBharatā€™s flagship product SriMandir allows users to create their personalized shrines, consume devotional content, connect with prayer groups, and access a large library of spiritual texts, scriptures and videos. Users can also consult with astrologers and priests. It claims to have over 10 million downloads since its inception in 2021. AppsForBharatā€™s long list of investors includes Peak XV, BEENEXT, Matrix Partners and angels such as Scott Schleifer, Ankush Sachdeva, Farid Ahsan and Bhanu Pratap Singh, Utsav Somani, Vidit Aatrey and Sanjeev Barnwal, Kunal Shah and Sai Srinivas. AppsForBharat registered Rs 3.53 crore in revenue with Rs 45 crore loss in FY23, according to startup data intelligence platform TheKredible. The firm is expected to post a better result in the last fiscal year (FY24). It competes with DevDham, Utsav App, Sutradhar, and 27 Mantra. As per data compiled by TheKredible, astro and spiritual tech startups have raised around $25 million in the past 12 months. Besides Ustav App and DevDham, InstaAstro, AstroTalk, Vama, and Melooha also raised decent funding during the period.

InsuranceDekho revenue soars 7.7X in FY24, posts Rs 86 Cr profit

EntrackrEntrackr Ā· 1y ago
InsuranceDekho revenue soars 7.7X in FY24, posts Rs 86 Cr profit
Medial

InsuranceDekho turned out a stellar financial performance in the last fiscal year, with revenue from operations spiking 7.7 times. At the same time, the company reported a profit of Rs 86 crore for the fiscal year ending March 2024, compared to a loss of Rs 51 crore in FY23. InsuranceDekhoā€™s revenue from operations surged to Rs 743.6 crore in FY24 from Rs 96.5 crore in FY23, its standalone financial statement filed with the Registrar of Companies (RoC) shows. InsuranceDekho helps customers to compare and buy motor, health, travel and pet insurance. It also offers several investment plans including ULIP, child, fixed deposit, retirement plans among others. At Rs 726.61 crore, insurance brokerage was the largest revenue generator for the firm which accounted for 97.7% of the total operating revenue while ancillary services brought in Rs 17 crore. The Gurugram-based firm also made an additional Rs 41.3 crore from non operating sources, including software sales and interest income which pushed InsuranceDekho total income to Rs 785 crore in FY24. Looking at the expenses, point of sales charges was the major element, which formed 43% of the total expense. This cost surged by 36X to Rs 301 crore in FY24, from mere Rs 8.3 crore in FY23. Employee benefit expenses stood at Rs 130.26 crore, showing a 21.7% rise from Rs 107.05 crore in FY23. Manpower management was another expense that ballooned 53X to Rs 35 crore in FY24. Advertising, finance costs collectively formed Rs 98 crore. In the end, the CarDekho-incubated companyā€™s total expenses increased by 4.6X to Rs 699.21 crore during the last fiscal year. With over 650% growth in scale, InsuranceDekho turned profitable in FY24. It posted a profit of Rs 85.71 crore in the last fiscal year from a loss of -51.59 crore in FY23. Its ROCE and EBITDA margin improved to 16.5% and 11.73%, respectively. On a unit basis, the company spent Re 0.94 to earn a rupee of operating revenue in FY24. InsuranceDekho reported a Cash and Bank Balance of Rs 37.7 crore and Current Asset of 795.32 crore in the fiscal year ending March 2024. In October 2023, the firm secured $60 million in a Series B funding round led by Mitsubishi UFJ Financial Group. It is reportedly in discussions to merge with Renewbuyā€”a strategic move intended to establish a major player in the insurance aggregation market and compete with industry leader PolicyBazaar. PB Fintech, the parent firm of Policybazaar closed FY24 with about Rs 3,500 crore, which places the Rs 750 odd crores of InsuranceDekho in context. A very positive context, we will add, considering the fact that Insurance Dekho has managed to turn up the numbers with profits to show as well. Something Policybazaar managed well after it crossed the Rs 2,000 crore mark. In a market that is evolving at a pace it has never seen before, the opportunities for InsuranceDekho remain immense, and another strong year in FY25 will open up the IPO route as well, in all probability, making it a formidable competitor in the market that increasingly looks like it will consolidate into a two or three horse race as far as aggregators go.

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