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Motilal Oswal pumps Rs 200 Cr into Lahori

EntrackrEntrackr · 3m ago
Motilal Oswal pumps Rs 200 Cr into Lahori
Medial

Beverage brand Lahori is raising Rs 200 crore (approximately $23 million) from Motilal Oswal. The funding came after a hiatus of three years for the Punjab-based company. The board at Lahori has passed a resolution to issue 4,997 Series B preference shares at an issue price of Rs 4,00,252 each to raise Rs 200 crore or $23 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. The investment will be used for the growth and expansion of the business, the filing further added. According to Entrackr’s estimates, the company is valued at around Rs 2,800 crore or $329 million post-allotment. The company is reportedly in the process of raising Rs 450 crore in a new round. Following the latest fundraise, Motilal Oswal has acquired a 7.14% stake in the company. Existing investor Verlinvest’s shareholding has been reduced from 21.17% to 19.64%, while Lahori’s founder stake has been diluted from 76.21% to 70.76%. Lahori Zeera has emerged as one of India’s fastest-growing independent beverage companies over the past decade. The brand offers a range of traditional Indian beverage products, including Lahori Zeera, Lahori Nimboo, and Lahori Shikanji. Lahori is yet to file its annual results for FY25. During the fiscal year ended March 2024, its revenue from operations grew 47% year-on-year to Rs 312 crore. Notably, the profits of the company spiked 3X to Rs 22.5 crore in the same period. According to its CEO, Saurabh Munjal, Lahori had a target of Rs 500 crore revenue in FY25.

Lahori Zeera crosses Rs 300 Cr revenue in FY24; profits spike 3X

EntrackrEntrackr · 5m ago
Lahori Zeera crosses Rs 300 Cr revenue in FY24; profits spike 3X
Medial

Lahori Zeera has emerged as one of India’s fastest-growing independent beverage companies, surpassing Rs 300 crore in revenue during FY24. The Rupnagar, Punjab-based company’s profit tripled in the last fiscal year. On a year-on-year basis, Lahori’s revenue from operations grew 47.2% to Rs 312 crore in FY24 from Rs 212 crore in FY23, as per its consolidated financial statements accessed from the Registrar of Companies (RoC). The company generates revenue from beverage sales, including Lahori Zeera, Lahori Nimboo, and Lahori Shikanji, with a small contribution from scrap sales and other non-operating income (gains from investment sales), totaling Rs 313.5 crore in the last fiscal. Procurement was the largest cost center for the beverage manufacturer, accounting for 66% of total expenses. As the company scaled, this cost increased by 35.3%, rising from Rs 136 crore in FY23 to Rs 184 crore in FY24. Employee benefit expenses grew significantly, increasing by 68.8% year-on-year to Rs 27 crore in the same period. Expenses related to rent, freight, subcontracting, legal fees, and other overheads contributed to a 36.9% rise in total expenditure, which grew from Rs 203 crore in FY23 to Rs 278 crore in FY24. Lahori Zeera's profits tripled to Rs 22.5 crore in FY24, up from Rs 7.6 crore in FY23, driven by a 47% revenue surge and controlled costs. The company spent Rs 0.89 to earn a rupee during the year. Its ROCE and EBITDA margins stood at 15.36% and 13.65%, respectively. By the end of FY24, total current assets stood at Rs 76 crore, including Rs 38 crore in cash and bank balances. Lahori Zeera's CEO, Saurabh Munjal, aims for Rs 500 crore in revenue for the current fiscal year and is reportedly in advanced discussions with Motilal Oswal to raise Rs 400-450 crore. The success of Lahori Zeera is particularly notable in a market dominated by billion-dollar competitors like Pepsi, Coke, and now Reliance. The brand's growth has been bolstered by a strong advertising campaign and expanded distribution. However, there is concern about maintaining the brand's essence as it scales, especially in light of investor-driven pressures.

Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge

EntrackrEntrackr · 2m ago
Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge
Medial

Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge Feminine hygiene brand Plush to raise its Series B funding round, led by angel investor Ajay Kumar Aggarwal, with participation from Careernet Technologies, OTP Ventures, Blume Ventures, and 11 other investors. The board at Plush has passed a special resolution to issue 4,099 Series B preference shares to raise Rs 30.56 crore or $3.6 million, its regulatory filing accessed from the Registrar of Companies (ROC) shows. Ajay Kumar Aggarwal will lead the round with an investment of Rs 6 crore, while existing investors Careernet Technologies, OTP Ventures, and Blume Ventures will contribute Rs 5 crore, Rs 3 crore, and Rs 4 crore respectively. The remaining amount will be collectively invested by Rahul Garg, Sumit Jalan, Blue Ashva Varenya Fund, Rahul Kayan, and seven other investors. According to Entrackr’s estimates, the company’s valuation is expected to reach around Rs 281 crore (approximately $33 million) post-allotment. This marks nearly a 3X spike in its valuation, compared to its previous pre-Series B round. Following the fresh proceeds, Angel Investor Ajay Kumar Aggarwal will hold 19.64% stake in the company followed by Careerner Technologies and Blume Ventures which holds 16.37% and 13.08% respectively. Founded in 2019, the Chennai-based startup focuses on feminine care products, offering a range that includes period care, hair removal, intimate wellness, and skincare solutions. According to the company, its products are currently available in 500 stores across Bengaluru, Chennai, Mumbai, Delhi, and Hyderabad, with plans to expand retail presence to 2,000 stores over the next six months. Plush reported an 84% year-on-year revenue growth to Rs 28.87 crore in the fiscal year ending March 2024. During the same period, the company posted a loss of Rs 4.4 crore. The startup is projected to close FY25 with Rs 60 crore revenue.

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