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Cashifyโ€™s FY25 income nears Rs 1,100 Cr, losses shrink 80%

EntrackrEntrackr ยท 2m ago
Cashifyโ€™s FY25 income nears Rs 1,100 Cr, losses shrink 80%
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Cashifyโ€™s FY25 income nears Rs 1,100 Cr, losses shrink 80% Cashify has demonstrated stellar financial performance in the fiscal year ending March 2025. While it reported a 17% rise in revenue, surpassing the Rs 1,000 crore threshold, the Gurugram-based firm also narrowed losses by 80% during FY25. Cashifyโ€™s operational revenue reached Rs 1,096 crore in FY25 from Rs 935.07 crore in FY24, the companyโ€™s consolidated annual financial statements sourced from the Registrar of Companies (RoC) show. Cashify allows users to buy and sell used electronics, focusing mainly on phones and laptops. The company partners with original equipment manufacturers such as Xiaomi, OnePlus, and Samsung to run exchange programs. The firm also works with e-commerce giants Amazon and Flipkart to streamline the trade of refurbished devices for customers. Sales of pre-owned devices contributed Rs 999 crore which grew 17% year-on-year during the last fiscal year. Revenue from services such as repairs and commissions grew 22% to Rs 97 crore. Other income, including interest on deposits, added Rs 26 crore to total income, which stood at Rs 1,12 crore for FY25. Cashifyโ€™s expenses increased by 12% to Rs 1,133 crore in FY25 against Rs 1,008 crore in FY24. The largest expense was the cost of material which accounted for 82% of the total cost, this expense rose by 15% to Rs 924 crore. Employee benefits cost remained almost unchanged at Rs 122 crore. Other overheads including selling, distribution, advertising, and miscellaneous expenses added another Rs 44 crore to the total expenditure. With revenue outpacing expenses, Cashify managed to narrow its losses by a whopping 80%, to Rs 10.5 crore in FY25 from Rs 53 crore in FY24. The companyโ€™s EBITDA margin was negative at -2.14%, and return on capital employed stood at -10.28% in the last fiscal year. As of March 2025, Cashifyโ€™s cash and cash equivalents stood at Rs 68 crore, which decreased by 25% from last yearโ€™s Rs 91 crore. Its current assets stood at Rs 424 crore in FY25, as compared to Rs 383 crore in FY24. While the firm ended the last fiscal year with a loss, co-founder Mandeep Manocha recently said that it expects to achieve full-year profitability by the end of the ongoing fiscal year (FY26). Cashify has raised $130 million across multiple funding rounds. According to TheKredible, NewQuest Capital is the largest external shareholder with a 19.5% stake, followed by Olympus and MIH Ecommerce Holdings. It competes with several players in the market including Greendust, InstaCash, and Yaantra.

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Cashify nears Rs 1,000 Cr revenue in FY24, cuts losses by two-third

EntrackrEntrackr ยท 11m ago
Cashify nears Rs 1,000 Cr revenue in FY24, cuts losses by two-third
Medial

The re-commerce marketplace Cashify recorded a modest 14.4% year-on-year increase in revenue, surpassing the Rs 900 crore mark for the fiscal year ending March 2024. However, the NewQuest Capital-backed firm reduced its losses by 63% during the same period. Cashifyโ€™s revenue from operations increased to Rs 935 crore in the last fiscal year, from Rs 817 crore in FY23, its annual financial statements sourced from the Registrar of Companies (RoC) show. Cashify enables users to buy and sell used electronics, primarily phones and laptops. It also partners with OEMs like Xiaomi, OnePlus, and Samsung for exchange programs and collaborates with Amazon and Flipkart to simplify refurbished device trade. The sale of used mobile phones and other electronic gadgets like speakers, laptops, tablets, gaming consoles, and smartwatches formed 91.5% of the total operating revenue, which increased by 12.3% to Rs 856 crore in FY24. The rest of the income comes from commission and mobile repair services. The Gurugram-based firm earned Rs 19.8 crore from non-operating services, taking the overall income to Rs 955 crore in FY24, compared to Rs 832 crore in FY23. Having a cash-and-carry model, the cost of procurement of materials accounted for 79.3% of the total expenditure. This cost grew by 6.4% to Rs 800 crore in FY24 from Rs 752 crore in FY23. Cashify managed to maintain its employee benefits steady at Rs 123 crore in FY24 while its marketing cost decreased by 14.3% to Rs 30 crore. Rent, logistics, legal, traveling, and other overheads took the overall cost up by only 3.3% to Rs 1,008 crore in FY24 from Rs 976 crore in FY23. The constant growth and controlled cost helped Cashify to shrink its losses by 63.2% to Rs 53 crore in FY24 as compared to Rs 144 crore in FY23. Its ROCE and EBITDA margin improved to -15.6% and -3.98%, respectively. On a unit level, it spent Rs 1.08 to earn a rupee in FY24. Cashifyโ€™s current assets stood at Rs 382 crore with cash and bank balance of Rs 91 crore in the last fiscal year (FY24). Cashify has raised $130 million across several rounds. According to TheKredible, NewQuest Capital is the largest external shareholder with 19.5%, followed by Olympus and MIH Ecommerce Holdings. It competes with Greendust and Yaantra among several others. Writing about Cashify financials last year, Entrackr projected a profitable year by FY26 for the re-commerce firm, and we believe they remain on course for that milestone in FY25 itself possibly. The firm has the scale and experience to make corrections where required, and features like tie-ups with top selling manufacturers or extended warranties for a nominal amount have gone a long way to help assuage consumer fears. Unlike either related though not similar platforms like OLX or Quikr.

Healthians posts Rs 263 Cr revenue in FY25; nears breakeven

EntrackrEntrackr ยท 13d ago
Healthians posts Rs 263 Cr revenue in FY25; nears breakeven
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Healthians posts Rs 263 Cr revenue in FY25; nears breakeven Healthians didn't manage notable growth in the fiscal year ending March 2025. However, the WestBridge-backed company narrowed its losses by 89% year on year and neared break-even during the same period. The firmโ€™s operating revenue increased 8% year-on-year to Rs 263 crore in FY25, up from Rs 243 crore in FY24, as per its consolidated financial statements filed with the Registrar of Companies (RoC). Including non-operating income of Rs 7 crore, the companyโ€™s total income grew 7% to Rs 270 crore during the year. Cost optimisation played a key role in supporting the companyโ€™s financial recovery. Total expenses declined 8% to Rs 275 crore in FY25, compared to Rs 298 crore last year. Among the major cost heads, employee benefits, the largest expense category, dropped 13% year-on-year to Rs 104 crore in FY25 from Rs 120 crore in FY24. Cost of materials contracted 7% to Rs 54 crore. Advertising costs rose 10% to Rs 43 crore. Meanwhile, depreciation and finance costs remained stable at Rs 29 crore and Rs 15 crore, respectively. The improvement in revenue and control of key expenses helped Healthians bring down its losses sharply by 89% to Rs 5 crore in FY25 from Rs 45 crore in FY24. The firm posted positive EBITDA of Rs 32 crore in FY25 with EBITDA margin of 12.17%. Its ROCE stood at 2.73% in the same period. On a unit basis, the company spent Rs 1.05 to earn a rupee of operating revenue in FY25. The firmโ€™s current assets increased slightly to Rs 170 crore including cash and bank balances worth Rs 49 crore in the fiscal. According to startup data intelligence platform TheKredible, Healthians has raised a total of $75 million of funding till date, having WestBridge, BEENEXT, DG Ventures and Youwecan as its lead investors. The companyโ€™s founder and CEO, Deepak Sahni owns 6.5% of the company.

Mosaic Wellness revenue doubles to Rs 736 Cr in FY25, nears break-even

EntrackrEntrackr ยท 18d ago
Mosaic Wellness revenue doubles to Rs 736 Cr in FY25, nears break-even
Medial

Mosaic Wellness revenue doubles to Rs 736 Cr in FY25, nears break-even Mosaic Wellness, the parent company of digital-first health and wellness brands Man Matters and Bodywise, continued its growth trajectory in FY25, more than doubling its scale while significantly narrowing its losses in the fiscal year ending March 2025. The companyโ€™s operating revenue spiked 2.2X to Rs 736 crore in FY25 from Rs 333 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Mosaic Wellness is a digital-first consumer health platform that runs separate brands for men, women, and kids. Its flagship brand ManMatters offers solutions across derma, sexual health, hygiene, and nutrition. The company has not disclosed the revenue from its brands separately but the sale of health and wellness products was the only source of income for Mosaic Wellness in FY25. It also added Rs 13 crore from the interest on deposits and gain on sale on investments which brought its total revenue to Rs 749 crore in the last fiscal year. The companyโ€™s advertising expense remained its largest cost centre, accounting for 35% of the total spend. This cost nearly doubled to Rs 267 crore in FY25 from Rs 138 crore. The cost of materials also grew sharply to Rs 193 crore, forming over 25% of the expenditure. Meanwhile, the companyโ€™s employee benefit expense remained stable at Rs 63 crore in FY25. Overall, Mosaic Wellnessโ€™ total expense doubled to Rs 758 crore in FY25 from Rs 380 crore in FY24. With the companyโ€™s revenue outpacing expense growth, the company managed to bring down its net loss by 69%, narrowing it to Rs 12 crore in FY25 from Rs 39 crore in FY24. Its ROCE and EBITDA margin stood at -6.55% and -2.79%, respectively. Mosaic Wellness spent Rs 1.03 to earn a rupee of operating revenue in FY25, an improvement from Rs 1.14 in the previous year. The firm closed the fiscal with Rs 49 crore in cash and bank balances, while its current assets nearly doubled to Rs 325 crore. According to TheKredible, the company has raised a total of $63 million of funding till date, having Elevation Capital, Peak XV Partners and Matrix Partners as its lead investors. The companyโ€™s co-founders Revant Bhate and Dhyanesh Shah own around 35% of the company.

Gameskraft crosses Rs 4,000 Cr revenue in FY25; PAT nears Rs 1,000 Cr

EntrackrEntrackr ยท 2m ago
Gameskraft crosses Rs 4,000 Cr revenue in FY25; PAT nears Rs 1,000 Cr
Medial

Gameskraft crosses Rs 4,000 Cr revenue in FY25; PAT nears Rs 1,000 Cr Gameskraftโ€™s FY25 numbers reflect strong performance before the RMG ban. The firm reported double-digit revenue growth and maintained profitability during the fiscal year. The Indian governmentโ€™s recent ban on real-money gaming formats has disrupted the sector overnight, but Gameskraftโ€™s FY25 numbers reflect strong performance before the clampdown. The firm reported double-digit revenue growth and maintained profitability during the fiscal year. Gameskraftโ€™s revenue from operations grew 12% to Rs 3,896 crore in FY25 from Rs 3,475 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Gameskraft operated popular gaming apps such as Rummy Culture, Playship, Pocket 52, RummyPrime, Ludo Culture, and Rummy Time. Its revenue (gross gaming revenue) came from platform fee or commission charged as a percentage of the buy-in fees users invest in games, which contributed Rs 3,882 crore (99.6% of operating revenue), registering a 12.2% growth. Its real estate business added Rs 11 crore, while other income sources contributed Rs 3 crore in FY25. The Bengaluru-based company made an additional Rs 113 crore from non-operating sources which pushed its total revenue to Rs 4,009 crore in FY25. On the cost side, promotional spending emerged as the single largest expense and accounted for 75% of total burn. To the tune of scale, this cost surged 58% to Rs 2,072 crore in FY25 from Rs 1,315 crore in FY24. Employee benefits, on the other hand, saw a decline of 11% to Rs 410 crore, while legal and professional fees fell 22.8% to Rs 112 crore in FY25. Overall, the companyโ€™s total expenses shot up 24% to Rs 2,766 crore in FY25 as against Rs 2,232 crore in FY24. See TheKredible for the detailed cost breakdown during the last fiscal year. Despite the jump in ad spend, Gameskraft managed to sustain profitability on the back of its strong topline and controlled costs in other areas. Its net profit stood at Rs 976 crore in FY25, slightly higher than the Rs 947 crore posted in FY24. It's worth noting that we have excluded exceptional items worth Rs 270.5 crore in the calculation of net profit of the company. Gameskraft's ROCE and EBITDA margin stood at 58.40% and 31.63%, respectively. On a unit basis, Gameskraft spent Rs 0.71 to earn a rupee of operating revenue in FY25. The company recorded current assets worth Rs 2,232 crore in FY25 which includes Rs 253 crore in cash and bank balances and Rs 1,319 crore invested in mutual funds. While Gameskraftโ€™s FY25 numbers were unaffected, the Indian governmentโ€™s new gaming law effective August 2025 has forced the company to halt its real-money operations, including shutting down โ€œAdd Cashโ€ features and discontinuing its flagship rummy platform RummyCulture, alongside pausing its poker venture Pocket52 earlier in the year. The move, mandated by the Promotion and Regulation of Online Gaming Act, has also led Gameskraft to publicly state it will not pursue a legal challenge, instead opting for full compliance. Given that real-money gaming contributed nearly all of Gameskraftโ€™s FY25 revenue, the ban is expected to significantly impact its business model, revenue streams, and growth trajectory going forward.

Tata 1mg revenue nears Rs 2,400 Cr in FY25, trims losses

EntrackrEntrackr ยท 4m ago
Tata 1mg revenue nears Rs 2,400 Cr in FY25, trims losses
Medial

Tata 1mg, the digital healthcare platform backed by Tata Digital, continued its growth trajectory in the fiscal year ending March 2025 while straining its losses. Tata 1mgโ€™s consolidated revenue rose 22% to Rs 2,392 crore in FY25 from Rs 1,968 crore in FY24, according to Tata Sonsโ€™ Annual Report for the fiscal year. Tata 1mg is a health tech startup for online orders of allopathic, ayurvedic, homeopathic medicines, vitamins, nutrition supplements, and other health products, delivered to the home. 1mgโ€™s revenue was split across two entities: Tata 1mg Technologies, which clocked Rs 2,016.5 crore, and Tata 1mg Healthcare Solutions, which contributed Rs 375.5 crore in FY25. The company's total cost rose by 17% to Rs 2682 crore in FY25, up from Rs 2303 crore in FY24. The Gurugram-based company posted a consolidated loss of Rs 276 crore in FY25, 12% lower than the Rs 313 crore loss reported in FY24. On a unit basis, the company spent Rs 1.12 to earn a rupee of operating revenue in FY25. On the asset side, Tata 1mg reported total assets of Rs 2,025 crore at the end of FY25 while its total liabilities reached Rs 1,190 crore. In the e-health space, Tata 1mg competes with Reliance-backed Netmeds, PharmEasy, and Apollo 24/7. Tata Digital acquired a 55% stake in 1mg in June 2021 but has since gained around 8.5% additional stake in the e-medicine platform. According to TheKredible, Tata Digital currently holds a 63.5% stake in 1mg, which was last valued at 1.25 billion. Tata Digital reported a standalone revenue of Rs 546.9 crore and a loss of Rs 827.5 crore in FY25, indicating continued investment in its digital commerce bets including 1mg and other verticals such as BigBasket, Cult.fit, and the recently launched Tata Neu.

BharatPe turns EBITDA profitable in FY25, revenue touches Rs 1,667 Cr

EntrackrEntrackr ยท 2m ago
BharatPe turns EBITDA profitable in FY25, revenue touches Rs 1,667 Cr
Medial

BharatPeโ€™s revenue from operations grew by 16.9% to Rs 1,667 crore in FY25 from Rs 1,426 crore in FY24, its consolidated annual financials accessed by Entrackr show. Fintech unicorn BharatPe witnessed a turnaround in the previous fiscal year as it recorded steady growth in scale while achieving EBITDA profitability. The company also managed to significantly cut down its losses, which shrank by over 80% during FY25. BharatPeโ€™s revenue from operations grew by 16.9% to Rs 1,667 crore in FY25 from Rs 1,426 crore in FY24, its consolidated annual financials accessed by Entrackr show. Service fee income, which includes processing charges, commission on loan transactions, and rental income from the sale of machines and loudspeakers, remained the largest revenue driver for BharatPe, contributing 77.6% of operating revenue. This stream grew 15.8% year-on-year to Rs 1,456 crore in FY25. Revenue from the NBFC business rose to Rs 211 crore in FY25 from Rs 165 crore in FY24. Moreover, the company booked Rs 67 crore in non-operating income, pushing its total revenue to Rs 1,734 crore during the year. For BharatPe, transaction processing expenses accounted for 20.8% of the overall cost base at Rs 391 crore in FY25. Employee benefits remained steady at Rs 360 crore, which includes Rs 148.5 crore as ESOP (share-based payments). Its advertising spend saw a sharp 84% reduction to Rs 26 crore during the year. Other overheads, including outsourced services, merchant onboarding, and IT expenses, pushed the companyโ€™s total expenditure to Rs 1,876 crore in the fiscal year ending March 2025. The decent growth in scale, coupled with an effective cost mechanism, helped BharatPe to reduce its losses by 82.1% to Rs 88 crore in FY25 from Rs 492 crore in FY24. Notably, BharatPe reported a positive EBITDA of Rs 47 crore in FY25. Stripping out ESOP-related expenses, the companyโ€™s adjusted EBITDA would stand at Rs 195.5 crore for the year. BharatPeโ€™s ROCE and EBITDA margins also improved to -3.8% and 2.82% respectively, in FY25. On a unit level, it spent Rs 1.13 to earn a rupee in FY25. At the end of the previous fiscal year, the company had total current assets of Rs 2,685 crore with cash and bank balances of Rs 872 crore. Earlier this month, BharatPe facilitated its first secondary transaction since 2021 at a valuation of $2.85 billion. To date, the fintech unicorn has raised over $650 million in equity and debt from investors such as Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue, and others.

Acko posts Rs 2,837 Cr revenue in FY25, trims losses by 37%

EntrackrEntrackr ยท 20d ago
Acko posts Rs 2,837 Cr revenue in FY25, trims losses by 37%
Medial

Acko posts Rs 2,837 Cr revenue in FY25, trims losses by 37% Following a 20% year-on-year rise in FY24, insurtech platform Acko sustained its momentum with 35% revenue growth in FY25. At the same time, the company also cut its losses by 37% during the same period. Ackoโ€™s revenue from operations surged to Rs 2,837 crore in FY25, compared to Rs 2,106 crore in FY24, according to its consolidated annual figures accessed from the Registrar of Companies (RoC). For the digital insurance provider, income from gross premium earned made up 73.5% of its total income, rising 31% to Rs 2,085 crore during the last fiscal year. Service contracts, recoveries from reinsurers, commissions, interest income from investments, and other miscellaneous income pushed total revenue to Rs 2,887 crore in FY25, up from Rs 2,160 crore in FY24. In terms of cost breakdown, employee benefit expenses declined slightly by 6% to Rs 334 crore in FY25 from Rs 355 crore in FY24, accounting for 10% of the companyโ€™s total costs. The firm also cut its advertising spend by 12% to Rs 497 crore, while commissions paid to sole selling agents rose 35% to Rs 283 crore during the previous fiscal. A large portion of the companyโ€™s expenses was grouped under miscellaneous costs, primarily comprising claims paid, premium on reinsurance ceded, and other office and administrative expenses. This category amounted to Rs 2,006 crore in FY25. Overall, the total expenses for the Accel-backed company rose 17% to Rs 3,312 crore in FY25, compared to Rs 2,830 crore in FY24. Stronger top-line and tighter cost control helped Acko to reduce its losses by 37% to Rs 424 crore in FY25. Its ROCE and EBITDA margin improved to -30.5% and -16%, respectively. On a unit basis, Acko spent Rs 1.17 to earn a rupee in FY25. The companyโ€™s current assets stood at Rs 1,798 crore, including Rs 28 crore in cash and bank balance at the end of FY25. According to TheKredible, Acko has raised over $458 million to date. General Atlantic is the largest external shareholder with a 10.7% stake, followed by Accel Partners and Elevation Capital. Ackoโ€™s competitor Digit Insurance reported Rs 2,088 crore operating revenue in Q2 FY26, while its profit after tax increased by 30% to Rs 116.5 crore during the same period.

Euler Motors reports Rs 191 Cr revenue and Rs 200 Cr loss in FY25

EntrackrEntrackr ยท 1m ago
Euler Motors reports Rs 191 Cr revenue and Rs 200 Cr loss in FY25
Medial

Euler Motors reports Rs 191 Cr revenue and Rs 200 Cr loss in FY25 Eulerโ€™s revenue grew by 12% during the fiscal year ending March 2025. The Delhi-based firm also managed to limit losses at a similar rate during the year. Commercial electric vehicle startup Euler Motors raised Rs 638 crore in its Series D round in May 2025, led by Hero MotoCorp. While the impact of this funding is likely to reflect in its FY26 numbers, Eulerโ€™s revenue grew by 12% during the fiscal year ending March 2025. The Delhi-based firm also managed to limit losses at a similar rate during the year. Euler Motorsโ€™ revenue grew 12% year-on-year to Rs 192.26 crore during the last fiscal year as compared to Rs 170.82 crore in FY24, according to the companyโ€™s annual financial statement with the RoC. The company primarily manufactures and sells electric vehicles. According to Vahan data, it sold around 3,305 electric vehicles in FY25, generating Rs 173 crore from vehicle sales, while battery, accessories, and other operating income contributed an additional Rs 12 crore to its total operating revenue. Euler Motors also earned Rs 14.73 crore in non-operating income including interest income, which pushed its total revenue to Rs 206 crore in FY25. On the expense side, material costs remained the biggest expenditure, making up 47.5% of total expenses at Rs 192 crore in FY25. This cost was reduced by 10% compared to FY24. Employee benefit expenses rose 46% year-on-year to Rs 74.4 crore in FY25. Security and manpower service costs also jumped 55% to Rs 24.44 crore during the year, while finance costs and depreciation and amortization expenses stood at Rs 17.3 crore and Rs 18.46 crore, respectively. Further, advertising expenses surged 4.6X to Rs 12.77 crore in FY25 from Rs 2.75 crore in FY24. Other overheads including rent, R&D, travel, professional fees, transportation, repair and maintenance, software, and other expenses added Rs 64.8 crore to the total cost. Overall expenditure remained flat compared to FY24, at around Rs 404 crore. In the end, a 12% rise in operating revenue, coupled with higher non-operating income and controlled spending, helped the Hero MotoCorp-backed company reduce its losses by 12% to Rs 200 crore in FY25. On a unit level, Euler spent Rs 2.11 to earn a rupee of operating income. Its EBITDA margin and ROCE improved to -92.6% and -93.7% respectively. As on March 2025, the companyโ€™s current assets stood at Rs 214.3 crore, including cash and bank balances of Rs 95 crore. According to startup data platform TheKredible, the Delhi-based firm has raised over $200 million to date, with Hero MotoCorp, GIC, and British International Investment among its lead investors.

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