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D’Decor crosses Rs 800 Cr revenue in FY24; profits spike 20%

EntrackrEntrackr · 3m ago
D’Decor crosses Rs 800 Cr revenue in FY24; profits spike 20%
Medial

D’Decor’s revenue from operations recorded a 4.2% year-on-year increase to Rs 816 crore in FY24 from Rs 783 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies (RoC) show. India’s home décor market is witnessing double-digit growth, supported by rising disposable incomes and improved lifestyles. However, soft furnishings manufacturer D’Decor managed only modest growth in FY24. Despite this, the company’s profit jumped 20% during the same period. D'Decor specializes in manufacturing and selling soft furnishing fabrics such as curtains, upholstery, and bed and bath linens. It exports to over 65 countries and serves the Indian market through its retail stores and online presence. The sale of fabrics and made-ups was the sole source of revenue for D’ Decor during the fiscal year ending March 2024. It has not provided a breakdown of its revenue from domestic and international markets. The firm also added Rs 37 crore from non-operating activities, which pushed its overall income to Rs 853 crore in FY24. For the soft furnishing fabric firm, procurement costs accounted for 39.2% of the total expenditure, amounting to Rs 308 crore in FY24. Meanwhile, advertising expenses surged by 173%, reaching Rs 41 crore during the same period. Employee benefits, along with power, fuel, rent, freight, and other overheads, contributed to a 4% increase in total expenditure — rising from Rs 755 crore in FY23 to Rs 785 crore in FY24. Despite the modest growth, D'Decor managed to increase its profits by 20.5% to Rs 53 crore in FY24 from Rs 44 crore in FY23. On a unit level, it spent Rs 0.96 to earn a rupee in FY24. Its Return on Capital employed (ROCE) and Earnings before tax and depreciation (EBITDA) improved to 14.09% and 17.80%, respectively. As of March 2024, the Mumbai-based company had total current assets of Rs 547 crore, including trade receivables worth Rs 224 crore. Apart from traditional firms, it competes with The Yellow Dwelling, Peak XV-backed Vaaree, Furlenco, Pepperfry, and other emerging players. The home decor market offers irresistible size and for some, margins, but remains a hotly contested market for now. Major brands have struggled to capture a significant share of the market, even as new ones continue to push their luck as well. For D’decor, the outlook for the future will remain steady at best, considering the buffeting in export markets right now. Being profitable will help navigate the turmoil better of course, but don't count on a breakthrough move here.

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PokerBaazi parent crosses Rs 400 Cr revenue in FY24; profits grew 26%

EntrackrEntrackr · 6m ago
PokerBaazi parent crosses Rs 400 Cr revenue in FY24; profits grew 26%
Medial

Fintrackr All Stories PokerBaazi parent crosses Rs 400 Cr revenue in FY24; profits grew 26% Moonshine Technology, which operates PokerBaazi, SportsBaazi, and CardBazzi, demonstrated 55% growth in its operating revenue to Rs 415 crore in FY24 from Rs 268 crore in FY23. The platform fees/service transaction fees received from the users were the sole source of revenue for Moonshine. The firm also added Rs 9 crore mainly from the interest on bank deposits which tallied its overall income to Rs 424 crore in FY24, compared to Rs 273 crore in FY23. At the time of acquisition, Moonshine disclosed that PokerBaazi accounts for over 85% of its net revenue, while its fantasy sports platform, SportsBaazi, contributes 12%. Similar to other online gaming platforms, Moonshine spent 60% of its overall expenditure on advertising. This cost surged 83% to Rs 232 crore in FY24 from Rs 127 crore in FY23. Its employee benefits also grew 62% to Rs 89 crore in FY24. Its payment gateway, website/server, customer verification, and legal costs took the overall expenditure up by 55.6% to Rs 389 crore in FY24 from Rs 250 crore in FY23. The decent surge in scale and controlled expenditure helped Moonshine to increase its profits by 26.3% to Rs 24 crore in FY24, compared to Rs 19 crore in FY23. The company's ROCE and EBITDA margin stood at 20% and 10.1%, respectively, while its expense-to-earnings ratio was recorded at Rs 0.94. During FY24, Moonshine’s total current assets stood at Rs 236 crore with cash and bank balances of Rs 196 crore. Out of Rs 982 crore ($118 million), Nazara has already invested $100 million and acquired a 47.7% stake in the company through a combination of secondary and primary share purchases.

Exclusive: OfBusiness revenue nears Rs 20,000 Cr in FY24; profits crosses Rs 600 Cr

EntrackrEntrackr · 1y ago
Exclusive: OfBusiness revenue nears Rs 20,000 Cr in FY24; profits crosses Rs 600 Cr
Medial

Following a 2X jump in scale during FY23, industrial goods and services procurement platform OfBusiness continued its growth run as its revenue grew by 25.8% in the fiscal year ending March 2024. At the same time, the firm’s profit spiked by 30% and crossed the Rs 600 crore mark. OfBusiness’ revenue grew to Rs 19,296 crore in FY24 from 15,343 crore in FY23, according to the company’s consolidated financial documents reviewed by Entrackr. The sale of industrial goods (raw materials) and revenue from financial services offered to the buyers on their platforms were the primary sources of operating revenue for OfBusiness in FY24. The company also made Rs 232 crore from interest and other financial activities, tallying the overall revenue to Rs 19,529 crore in FY24. Being a goods and service procurement platform, the purchase of industrial goods and raw materials including construction materials, chemicals, and produce emerged as the largest cost centers, forming 88.5% of OfBusiness’ total expenses during FY24. In the line of scale, this cost increased by 21% to Rs 16,543 crore in FY24. The firm’s burn on employee benefits, finance, legal, conveyance, advertising, and other overheads took its overall cost up by 24.3% to Rs 18,696 crore in FY24 from Rs 15,037 crore in FY23. Note: OfBusiness’ ESOP-related expenses for this year stood at Rs 32 Cr in FY24 which is similar to last year. The decent growth in scale and controlled expenditure helped OfBusiness to post a 30.2% increase in its profits to Rs 603 crore in FY24. Its ROCE and EBITDA margin improved to 12.33% and 7.44% respectively. On a unit level, OfBusiness spent Rs 0.97 to earn a rupee in FY24. FY23-FY24 FY23 FY24 EBITDA Margin 6.30% 7.44% Expense/₹ of Op Revenue ₹0.98 ₹0.97 ROCE 9.28 12.23 OfBusiness has raised around $800 million including its $325 million Series G round in December 2021 where it was valued at $5 billion. According to the startup data intelligence platform TheKredible, Alpha Wave is the largest external stakeholder with 19.16% followed by Creation Investment and Matrix Partners. OfBusiness competes with Zetwerk, Infra.market, and Moglix. Zetwerk recorded Rs 11,449 crore GMV in FY23 while Infra. Market and Moglix’s gross revenue stood at 11,846 crore and Rs 4,500 crore respectively in the same period (FY23).

McCain India crosses Rs 1,200 Cr revenue in FY24; profit shrinks 29%

EntrackrEntrackr · 3m ago
McCain India crosses Rs 1,200 Cr revenue in FY24; profit shrinks 29%
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McCain India’s revenue from operations increased by a modest 3% YoY growth to Rs 1,214 crore in FY24, as per its standalone financial statements sourced from the Registrar of Companies (RoC). Among fried snack brands in India, McCain is a major player. The brand has expanded its portfolio to include a range of options, with revenues surpassing Rs 1,200 crore in FY24. Revenue from operations was Rs 1,172 crore in FY23. Income from the sale of its fried products was the sole revenue for McCain. It sells its products through retail, foodservice partnerships, and digital channels such as BlinkIt, Swiggy Instamart, and Zepto. The company also added Rs 31 crore, mainly from interest on deposits, resulting in an overall revenue of Rs 1245 crore in FY24, compared to Rs 1189 crore in FY23. Material procurement remained the largest cost driver, accounting for 43.8% of total expenses, rising to Rs 493 crore in FY24. Employee benefit expenses grew by 19%, reaching Rs 100 crore in FY23. Advertising cost surged by 63% to Rs 88 crore in FY24. Total expenditure was Rs 1,125 crore in FY24, up from Rs 1,020 crore in FY23. Net profits reduced by 29.4% to Rs 89 crore in FY24, compared to Rs 126 crore in FY23. Its ROCE and EBITDA margin stood at 15.28% and 4.58% respectively. It spent Rs 0.93 per rupee earned in FY24.

PB Fintech crosses Rs 1,508 Cr revenue in Q4 FY25; profit triples

EntrackrEntrackr · 2m ago
PB Fintech crosses Rs 1,508 Cr revenue in Q4 FY25; profit triples
Medial

PB Fintech, the parent company of online insurance aggregator and brokerage platform PolicyBazaar, has released its financial results for the fourth quarter of the ongoing fiscal year (Q4 FY25). The company reported a 38% growth in scale, while its year-on-year (YoY) profits increased by 2.85X during the same period. PolicyBazaar’s revenue from operations surged 38% to Rs 1,508 crore in Q4 FY25 in contrast to Rs 1,089 crore in Q4 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange (NSE). For the full fiscal year (FY25), PolicyBazaar’s operating revenue increased 33% to Rs 4,977 crore in FY25 from Rs 3,738 crore in FY24. The Gurugram-based company generated the largest share (87%) of its operating revenue from insurance broker services, which rose to Rs 1,322 crore in Q4 FY25 from Rs 915 crore in Q4 FY24. For the full fiscal year, it accounted for 86% of the revenue at Rs 4,298 crore. Besides operating revenue, the firm also earned Rs 101 crore via interest and gains from financial assets during the quarter which took its total topline to Rs 1,609 crore in the quarter ending March 2025. Meanwhile, for the full fiscal year, total income crossed the Rs 5,000 crore mark at Rs 5,385 crore. PolicyBazaar has not provided a detailed breakdown of expenses in its quarterly financial statements. However, employee benefits expenses rose by 15% YoY to Rs 508 crore. Overall, the company's total costs grew 29% to Rs 1,437 crore in Q4 FY25 compared to Rs 1,114 crore in Q4 FY24. For the full financial year ending March 2025, the firm’s total expenses rose to Rs 5,039 crore as against Rs 3,739 crore in FY24. In the end, PolicyBazaar's net profits surged 2.85X to Rs 171 crore in Q4 FY25 from Rs 60 crore in Q4 FY24. On a fiscal basis, its net profit spiked 5.5X to Rs 353 crore in FY25 from Rs 64 crore in FY24. PolicyBazaar is currently trading at Rs 1,796 with a total market capitalization of Rs 82,500 crore.

Zomato crosses $25 Bn market cap with Rs 253 Cr profits in Q1FY25

EntrackrEntrackr · 11m ago
Zomato crosses $25 Bn market cap with Rs 253 Cr profits in Q1FY25
Medial

Foodtech and quick commerce platform Zomato on Thursday released its financial results for the first quarter of the ongoing fiscal year (Q1 FY25). The Gurugram-based company has reported around an 18.1% increase in revenue with a 44.6% growth in profits. Zomato’s revenue from operations grew to Rs 4,206 crore in Q1 FY25 as compared to Rs 3,562 crore in Q4 FY24, its consolidated financial results sourced from the National Stock Exchange (NSE) show. Zomato’s food and delivery biz accounted for 46.17% of the total collection in Q1 FY25 which grew 11.7% to Rs 1,942 crore in Q1 FY25. The revenue from Hyperpure supplies (B2B) and quick commerce vertical (Blinkit) grew 27.4% and 22.5% to Rs 1,212 crore and Rs 942 crore, respectively. Income from “going-out” and other non-operating income took Zomato Group’s overall revenue to Rs 4,442 crore in Q1 FY25. Being a food tech major, the cost for delivery and related charges formed 31.6% of the overall expenditure which increased 18.8% to Rs 1,328 crore in Q1 FY25. The firm’s spending on procurement, employee benefits, advertising, and marketing pushed its overall expenditure to Rs crore 4,203 in Q1FY25 from Rs 3,636 crore in Q4FY24. A stellar growth in scale allowed Zomato to record a 44.6% spike in its profits to Rs 253 crore in Q1 FY25 from Rs 175 crore in Q4 FY24. On a unit level, the company spent Rs 0.99 to earn a rupee in Q1 FY25. With the consistent gain in its market cap, the food tech firm also rewarded its employees with an additional ESOP plan of $458 million. Zomato’s initial public offering opened at Rs 115, a 51% increase from its price band of Rs 76. The company’s current share price is Rs 237.9 (as of 03.40 PM), with a total market capitalization of over $25 billion, which led to Deepinder Goyal becoming a billionaire last month.

Yatra churns profits in Q3 FY24, revenue crosses Rs 110 Cr

EntrackrEntrackr · 1y ago
Yatra churns profits in Q3 FY24, revenue crosses Rs 110 Cr
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Online travel aggregator (OTA) Yatra has released its financial results for the third quarter of the ongoing fiscal year (Q3 FY24). After sinking into the red in Q2, the company bounced back and recorded profits in Q3 along with crossing Rs 110 crore revenue mark during the period. Yatra’s revenue from operations grew 17.2% to Rs 110.3 crore in Q3 FY24 as compared to Rs 94.13 crore Q2 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange. While compared to Q3 of the previous fiscal year (Q3 FY23), the operating revenue of the company increased over 23% from Rs 89.6 crore. The company made 40.3% of its total operating revenue via Hotels and packages bookings which grew 23.4% to Rs 44.5 crore in Q3 FY24 from Rs 36.06 crore in Q2 of the same financial year. Revenue from air ticketing increased 5.9% to Rs 41.5 crore during the same period. The remaining Rs 24.3 crore came from other operating services and advertising income from hosting ads on its website, sale of coupons and vouchers and facilitating website access to travel insurance company. Yatra also earned Rs 8.86 crore as non-operating income (mainly from interest and gains on financial assets). This took the overall revenue to Rs 119.2 crore during the quarter. On the cost front, service cost which only relates to its hotel and packages vertical accounted for 23% of the total expenses. This cost surged 68.7% to Rs 26.9 crore in Q3 from Rs 15.95 crore in Q2 of the same fiscal. Whereas, employee benefits expenses for the company shrank 12.6% to Rs 32 crore during the quarter from Rs 36.6 crore in Q2 FY24. Yatra also incurred marketing and promotion costs of Rs 10.7 crore and payment gateway expense of Rs 12.7 crore in Q3 FY24. In total, Yatra’s overall expenditure increased just 3% to Rs 117 crore during Q3 from Rs 113.6 crore in Q2 FY24. With the controlled expenses, Yatra turned profitable and booked Rs 1.06 crore profits Q3 against Rs 17.13 crore loss in the previous quarter. Last year in the same quarter (Q3 FY23), it posted Rs 5.6 crore in losses. On a unit level, Yatra Online spent Re 1.06 to earn a rupee of operating revenue in Q3 of FY24. For the nine-months period (Apr-Dec 2023), the firm registered Rs 314.6 crore revenue from operations with a loss of Rs 10.08 crore. Yatra Online made its entry into the Indian public market in September last year with a share price of around Rs 136. With a market cap of over Rs 2,700 crore, it is currently trading at Rs 170 per share. Other than this, the company is also listed on NASDAQ with a current share price of $1.64 per share and a market cap of $105 million.

Travel Boutique Online’s PAT crosses Rs 200 Cr in FY24

EntrackrEntrackr · 1y ago
Travel Boutique Online’s PAT crosses Rs 200 Cr in FY24
Medial

Online B2B travel distribution platform Travel Boutique Online (TBO) demonstrated a decent 30.8% Y-O-Y growth during the fiscal year ended March 2024. At the same time, the profits (PAT) of the company spiked with the same pace and surpassed Rs 200 crore in the same period. Travel Boutique’s revenue from operations grew to Rs 1,393 crore in FY24 from Rs 1,065 crore in FY23, its consolidated financial statements accessed from the National Stock Exchange (NSE) show. TBO Tek TBO is a travel distribution platform that extends white-label solutions to travel agents and tour operators. By facilitating air travel, hotel bookings, and tour packages, the platform makes money on commissions on these services. The commission from hotels and packages formed a significant 72.8% of the total operating revenue which increased 40.4% to Rs 1,014 crore during FY24. Commission from air ticketing contributed Rs 347 crore to its operating income. For the B2B travel distribution platform, the cost of providing services for air ticketing, hotels, and packages accounted for 40% of the overall expenditure. This cost grew 41.9% to Rs 471 crore in FY24. Travel Boutique’s spending on employee benefits grew by 21.5% in FY24. Its legal, professional, advertising, technology, and other overheads took the overall expenditure up by 29.2% to Rs 1,181 crore in FY24. Head to TheKredible for the complete expense breakup. The controlled cost mechanism increased Travel Boutique’s profit by 35.8% to Rs 201 crore in FY24 from Rs 148 crore. Its ROCE and EBITDA margins stood at 31% and 19.9% respectively. On a unit level, it spent Rs 0.85 to earn a rupee in FY24. FY23-FY24 FY23 FY24 EBITDA Margin 19% 19.9% Expense/₹ of Op Revenue ₹0.86 ₹0.85 ROCE 43% 31% TBO Tek was listed on the stock exchange on 15th May 2024. Currently, the share price of the firm stands at Rs 1,410.3 (as of 31st May 2025) with a total market cap of Rs 15,314 crore.

Progcap crosses Rs 150 Cr revenue in FY24, cuts losses

EntrackrEntrackr · 4m ago
Progcap crosses Rs 150 Cr revenue in FY24, cuts losses
Medial

Progcap crosses Rs 150 Cr revenue in FY24, cuts losses Peak XV and Tiger Global-backed fintech firm Progcap has scaled more than 5X in the last two fiscal years, from Rs 26 crore in FY22 to Rs 139 crore in FY24. The firm also managed to reduce its losses in the same period. Progcap’s revenue from operations nearly doubled to Rs 139 crore in FY24 from Rs 71 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. Progcap facilitates debt capital for underserved micro and small businesses. The fintech platform digitizes supply chains and facilitates access to finance for last mile retailers. Revenue from these services was the sole source of income for the company. Progcap made an additional Rs 20 crore from interest on deposits and gains on current investments which pushed its total income to Rs 159 crore in FY24 from Rs 102 crore in FY23. On the expense side, employee benefit costs remained the largest expenditure, accounting for 61% of the total expense, to the tune of scale. This cost grew by 15% to Rs 124 crore in FY24. The firm’s finance costs surged sharply to Rs 22.5 crore from just Rs 1 crore in FY23. Other major expenses included collection deficiency charges (Rs 9.5 crore), travel expenses (Rs 6 crore), and miscellaneous costs. Overall, the company’s total expenses grew by 36% to Rs 203 crore in FY24 from Rs 149 crore in the preceding fiscal year. Progcap managed to cut its losses by 6% to Rs 46 crore in FY24 from Rs 49 crore in FY23. Its ROCE and EBITDA Margin improved to -2.96% and -11.32% respectively. On a unit basis, the company spent Rs 1.46 to earn a rupee of operating revenue in FY24. The Delhi-based firm reported current assets worth Rs 1,321 crore which include Rs 163 crore of cash and bank balance in FY24. According to TheKredible, Progcap has raised a total of approx $112 million in funding to date, having Tiger Global, Peak XV, Creation Investments, and GrowX Ventures as its lead investors. Progcap’s co-founders, Pallavi Shrivastava and Himanshu Chandra, collectively hold a 23.41% stake in the company.

BattRE crosses Rs 100 Cr revenue mark in FY24, remains profitable

EntrackrEntrackr · 3m ago
BattRE crosses Rs 100 Cr revenue mark in FY24, remains profitable
Medial

Electric two-wheeler manufacturer BattRE is back on a growth trajectory, reporting an 18% increase in FY24, compared to a 6% decline in FY23. However, its profit remained unchanged during the last fiscal year. BattRE’s revenue from operations increased to Rs 102.5 crore in FY24 from Rs 87 crore in FY23, according to its financial statement sourced from the Registrar of Companies (RoC). BattRE is an Indian electric scooter company which manufactures city, off-road, and hybrid scooters. Sales of these scooters accounted for 98.5% of the total operating revenue which spiked 18.82% to Rs 101 crore in FY24 from Rs 85 crore in FY23. Meanwhile, income from services declined by 25% to Rs 1.5 crore during the same period. On the expense side, the cost of materials remained the largest expenditure, increasing 10% to Rs 76 crore. Employee benefit expenses saw a 25% jump to Rs 5 crore, while discount-related costs soared 5X to Rs 5 crore. Transportation expenses remained steady at Rs 4 crore, and other operational expenses added another Rs 12 crore. Ultimately, BattRE’s total costs rose 17% to Rs 102 crore in the last fiscal. Despite a substantial spike in expenses, BattRE’s profit remained unchanged at Rs 50 lakhs in FY24. Its ROCE and EBITDA margin stood at 478% and 66%, respectively. On a unit basis, the company spent Re 1 to earn a rupee in FY24, similar to the previous fiscal year. As of March 2024, the Jaipur-based firm reported current assets worth Rs 32 crore including Rs 1 crore of cash and bank balance. According to startup data intelligence platform TheKredible, BattRE has raised a total of $466K of funding till date, having Gajendra Chandel as its lead investor, who owns 5.24% of the company. The company’s founder Nishchal Choudhary owns 32.84% of the company.

BigBasket’s revenue crosses Rs 10,000 Cr in FY24

EntrackrEntrackr · 10m ago
BigBasket’s revenue crosses Rs 10,000 Cr in FY24
Medial

Tata Digital-owned BigBasket is making a strategic shift to focus exclusively on the burgeoning quick commerce market targeting $1.5 billion (Rs 12,400 crore) in total sales for the current fiscal year (FY25). While the impact of the pivot and its new target will unfold after the completion of FY25, it crossed the Rs 10,000 crore topline mark in FY24. Significantly, BigBasket also narrowed down losses by over 20%. BigBasket’s revenue from operations went up 6.27% to Rs 10,061.9 crore during the fiscal year ending March 2024 as compared to Rs 9,468.5 crore in FY23, as per the company’s consolidated financial statements sourced from the Registrar of Companies (RoC). It’s worth highlighting that, Supermarket Grocery Supplies Private Limited is the main entity of BigBasket which also includes its business-to-consumer (B2C) unit, Innovative Retail Concepts Private Limited, and other acquired companies. The company made 97% of its total operating revenue via the sale of grocery products and the rest came from ancillary services and other operating activities. It also earned Rs 37.89 crore from interest and gain on financial assets which took the firm’s overall revenue to Rs 10,099.8 crore during the last financial year (FY24). BigBasket, which recently announced a pivot of its business entirely to quick commerce, is planning to consolidate services by merging its BBdaily subscription service into its main app. By aligning its operations with 10-15 minute delivery, BigBasket is positioning itself to compete more aggressively with established players like Blinkit, Swiggy Instamart, Zepto, and Flipkart Minutes. Moving to the expenses, the cost of goods sold (COGS) accounted for 71.3% of the total expenses and grew 3.4% to Rs 8,209.6 crore in FY24. Employee benefits expenses, however, slipped 11.7% to Rs 936.6 crore during the same period. The employee cost also includes employee stock options (ESOP) expenses worth Rs 98.5 crore. Other major expenses of the company include transportation, distribution, advertising & promotions, technical services, and other admin and operating expenses. For more details, head to TheKredible. Overall, BigBasket managed to control its total expenses which increased a mere 2% to Rs 11,515 crore in FY24 from Rs 11,284.7 crore in FY23. The controlled expenses also helped in reducing losses significantly which shrank 20.73% to Rs 1,415 crore during FY24. Its operating cash outflows also improved by 18.5% to Rs 1,103 crore during the year. BigBasket’s outstanding losses stood at Rs 7,619.85 crore as of FY24. The Bengaluru-based firm’s EBITDA margin improved by 463 BPS to -9.39% in FY24. On a unit level, BigBasket spent Rs 1.14 to earn a rupee of operating revenue during the last fiscal year. FY23-FY24 FY23 FY24 EBITDA Margin -14.02% -9.39% Expense/₹ of Op Revenue ₹1.19 ₹1.14 ROCE -51.37% -70.62% During FY24, Zomato’s Blinkit and Swiggy’s Instamart recorded Rs 2,301 crore and Rs 1,100 crore gross revenue, respectively. Another competitor in the space, Zepto claimed that its revenue has jumped five-fold to more than Rs 10,000 crore in FY24. The audited numbers of the Aadit Palicha-led company is yet to come.

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