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Curefoods expects ₹900 crore in revenue, Ebitda breakeven this year

Livemint

Livemint · 7m ago

Curefoods expects ₹900 crore in revenue, Ebitda breakeven this year

Curefoods, the parent company of brands such as Eatfit and Frozen Bottle, is aiming for ₹900 crore in revenue for the current financial year. The company, which reported a revenue of ₹635.09 crore in FY24, is focused on improving profitability and expanding its presence both online and offline. It plans to go public within the next 12 to 18 months. Curefoods is also looking to expand in the Middle East and add more cuisines to its offerings. The company is currently in the process of raising $40 million in funding.

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Curefoods files IPO papers, to raise Rs 800 crore via fresh issue - The Economic Times

Economic Times

Economic Times · 1m ago

Curefoods files IPO papers, to raise Rs 800 crore via fresh issue - The Economic Times

Curefoods, a Bengaluru-based cloud kitchen operator, has filed for an IPO to raise Rs 800 crore through a fresh issue and an offer for sale of 48.5 million shares. The company operates over 500 kitchens in 40 cities with brands like CakeZone and Nomad Pizza. Curefoods reported Rs 585 crore in revenue with a Rs 173 crore net loss in FY24 and aims for Ebitda breakeven by FY25. JM Financial, IIFL, and Nuvama are managing the IPO.

Exclusive: Country Delight Posts INR 650 Cr Sales In H1 FY24

Inc42 · 1y ago

Exclusive: Country Delight Posts INR 650 Cr Sales In H1 FY24

Delhi NCR-based startup Country Delight has reported a revenue of INR 650 Cr ($87 Mn) for the first half of the current financial year. The company expects to maintain this revenue rate for the entire year. The dairy tech startup aims to achieve EBITDA breakeven by the end of H1 2025, according to sources. Country Delight's operating revenue for FY23 was approximately INR 900 Cr, showing a 66% increase from the previous fiscal year. The company's net loss in FY22 was INR 186.4 Cr, up from INR 28.2 Cr in the previous year. Country Delight offers a subscription-based model, delivering milk and other dairy products to customers' doorsteps.

The Sleep Company's topline doubles in FY24, aims at EBITDA breakeven this fiscal

VCCircle

VCCircle · 1y ago

The Sleep Company's topline doubles in FY24, aims at EBITDA breakeven this fiscal

The Sleep Company, an omnichannel mattress company, experienced a significant increase in net sales in the last fiscal year, reaching nearly Rs 335 crore. This accounts for more than double the Rs 127 crore in operating revenue reported in the previous year. The Mumbai-based startup aims to achieve EBITDA breakeven in the current fiscal year.

Curefoods’ FY24 Loss Halves To INR 173 Cr

Inc42 · 7m ago

Curefoods’ FY24 Loss Halves To INR 173 Cr

Curefoods significantly reduced its FY24 losses by 49.64%, driven by substantial revenue growth and improved margins. The company's operating revenue surged by 53.17% to INR 585.1 crore, up from INR 382 crore the previous fiscal year. Additionally, the EBITDA loss decreased to INR 82.8 crore compared to INR 275.7 crore in FY23, while the EBITDA margin improved from -72% to -14%, reflecting better financial performance and operational efficiency.

Paytm shares rally 4% after UBS forecasts its EBITDA breakeven in FY25

Inc42 · 1y ago

Paytm shares rally 4% after UBS forecasts its EBITDA breakeven in FY25

Shares of Paytm surged 4% to INR 746.4 on the BSE, following a report by UBS Securities projecting that the company will reach breakeven on EBITDA by FY25 and achieve an EBITDA margin by FY28. UBS expects Paytm's top line to grow at a CAGR of 21% from FY24 to FY28. The brokerage initiated coverage on Paytm with a 'Buy' call and a target price of INR 900. Paytm's loan origination and merchant loan business were also highlighted as positive factors by UBS.

magicpin clocks multifold growth in FY24 with improved profitability

YourStory

YourStory · 5m ago

magicpin clocks multifold growth in FY24 with improved profitability

Magicpin, a food delivery and hyperlocal ecommerce app, witnessed a threefold revenue increase to ₹870 crore in FY24 from ₹297 crore in FY23, alongside a 30% reduction in cash burn. The company aims for EBITDA breakeven in six months, noting an improved adjusted EBITDA margin of -9.8% from -39.2% the previous year. As the third-largest food delivery player, Magicpin grew significantly on the ONDC network and plans to expand its rider fleet to handle more deliveries.

Zepto earns 2024 cr and loses 1272 cr this year

Economic Times

Economic Times · 1y ago

Zepto earns 2024 cr and loses 1272 cr this year

Zepto, India's first unicorn of 2023, reported a substantial increase in revenue for FY23, reaching Rs 2,024 crore, compared to Rs 142.4 crore in the previous year. However, the company incurred a loss of Rs 1,272 crore, three times larger than the Rs 390.4 crore loss in the prior year. Zepto aims to achieve EBITDA breakeven within 10 months while continuing growth. The expansion into new territories drove their revenue growth. Zepto competes in the quick commerce sector against Swiggy Instamart, BlinkIt (Zomato-owned), and BBNow (BigBasket).

Sharechat says adjusted EBITDA losses fell sharply in FY24 to Rs 793 crore

Economic Times

Economic Times · 8m ago

Sharechat says adjusted EBITDA losses fell sharply in FY24 to Rs 793 crore

Indian social media company Sharechat reported a 67% decrease in adjusted EBITDA losses to Rs 793 crore in FY24, along with a 33% increase in revenue. The company aims to achieve cash breakeven by March 2025 and plans to invest in growth and explore acquisition opportunities. Sharechat's revenue grew to Rs 718 crore in FY24 from Rs 540 crore in FY23, while adjusted EBITDA losses reduced from Rs 2,400 crore to Rs 793 crore. Sharechat is looking to add more investors ahead of a potential IPO in 18-24 months.

Healthians achieves EBITDA breakeven with Rs 250 Cr income in FY24

Entrackr

Entrackr · 8m ago

Healthians achieves EBITDA breakeven with Rs 250 Cr income in FY24

Diagnostic startup Healthians recorded a modest 8% year-on-year growth during the fiscal year ending March 2024. However, the WestBridge-backed company reduced its losses by 65% and achieved EBITDA breakeven in the same period. Healthians’s revenue from operations increased to Rs 243 crore in FY24 from Rs 224 crore in FY23, its consolidated annual results sourced from the Ministry of Corporate Affairs (MCA) show. Healthians offers at-home diagnostic services across over 250 cities and claims to have conducted more than 10 crore tests to date. Income from running laboratories for pathological tests was the primary source of revenue for Healthians which increased 8.62% to Rs 240.5 crore in FY24. The rest of the collections were from the sale of supplements, which stood at Rs 2.2 crore in the last fiscal year. Healthians also added Rs 10 crore from non-operational activities (interest income) which tallied the overall revenue to Rs 253 crore in FY24, as compared to Rs 236 crore in FY23. The Gurugram-based company allocated 40% of its overall burn to employee benefits. This cost dropped by 11.8% to Rs 120 crore in FY24 compared to Rs 136 crore in FY23. Advertising expenses also shrank over 62% to Rs 39 crore in FY24 from Rs 103 crore in FY23. The cost of material consumed, rent, Information technology, and other overheads took the overall expenditure to Rs 298 crore in FY24. The controlled spending on advertising and employee benefits helped Healthians to narrow losses by 65% to Rs 45 crore in FY24. With this, the company has achieved EBITDA breakeven in the previous fiscal (FY24). Coming to the ratios, Healthians’ ROCE and EBITDA margins improved to -20.4% and 0% (breakeven) in FY24. It spent Rs 1.23 to earn a rupee in FY24. The company has a total current assets of Rs 62 crore including the cash and bank balances of Rs 30 crore in the previous fiscal. Healthians has raised around $80 million to date including its last round of $54 million led by WestBridge in 2022. According to the startup data intelligence platform TheKredible, WestBridge is the largest external stakeholder with 25% followed by Beenext and DG Ventures. Financial stability is the primary thing that a company needs to survive. It seems like Healthians got some of the mantras to how to be constant with the scale while burning low. Achieving EBITDA breakeven for the first time will give more confidence to both founders and investors. Turning this achievement into net profits is difficult yet achievable- an approach Dr. PathLabs has been executing for many years. The next two to three years will be crucial in shaping the company's trajectory.

Zepto gets close to $4 billion in annualised gross order value

YourStory

YourStory · 3m ago

Zepto gets close to $4 billion in annualised gross order value

Zepto, a quick commerce unicorn, is nearing $4 billion in annualized gross order value, with year-over-year growth of 4x and a 30% rise since January. CEO Aadit Palicha expressed confidence in reaching EBITDA and OCF breakeven soon, noting a 50% reduction in cash flow burn. Zepto's newly launched dark stores are nearing EBITDA breakeven. The company includes fruits, vegetables, subscriptions, and advertising in its gross order value and plans new customer acquisition strategies.

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