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Eggoz hits Rs 130 Cr revenue in FY25; cuts losses

EntrackrEntrackr · 4d ago
Eggoz hits Rs 130 Cr revenue in FY25; cuts losses
Medial

Eggoz’s revenue from operations rose 78% year-on-year to Rs 130 crore in FY25 from Rs 73 crore in FY24, according to its standalone financial statements sourced from the Registrar of Companies (RoC). Founded in 2017 in Bihar by Abhishek Negi, Aditya Singh, and Uttam Kumar, Eggoz operates an asset-light, farmer-led supply chain model that enables fresh eggs to reach retailers within 24 hours. Over the years, the company has expanded its presence across key markets, including Delhi-NCR, Bengaluru, Kolkata, Jaipur, and Lucknow. The sale of eggs remained the sole contributor to Eggoz’s operating revenue in FY25. That said, the company has recently expanded beyond shell eggs by foraying into the ready-to-cook segment with offerings such as momos, burger patties, and nuggets. On the expense side, procurement of eggs continued to be the largest cost centre, accounting for nearly 67% of total expenditure. Procurement costs increased to Rs 103 crore in FY25, largely in line with the company’s revenue growth. Employee benefit expenses rose to Rs 20 crore during the year, including Rs 3 crore towards ESOP-related costs. Freight, advertising, rent, and other overheads pushed Eggoz’s total expenditure to Rs 154 crore in FY25, up from Rs 100 crore in the previous fiscal. Despite higher operating expenses, improved scale helped Eggoz reduce its net losses by 8% to Rs 23 crore in FY25 from Rs 25 crore in FY24. The company also reported improvements in EBITDA, return on capital employed (ROCE), and its expense-to-revenue multiple during the year. According to the company, Eggoz reached a peak brand annual revenue run rate (ARR) of Rs 200 crore and achieved EBITDA breakeven in Q4 FY25, driven by strong consumer demand and expanded distribution. Eggoz has raised over $32 million in funding to date. This includes a $20 million round led by Gaja Capital. Prior to this, the company raised $8.8 million in a Series B round led by IvyCap Ventures, $3.5 million in Series A funding, and Rs 3.7 crore during its seed stage.

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Exclusive: Eggoz to raise Rs 125 Cr led by Gaja Capital

EntrackrEntrackr · 6m ago
Exclusive: Eggoz to raise Rs 125 Cr led by Gaja Capital
Medial

Eggoz, a consumer brand for eggs, is raising Rs 125 crore, approximately ($14.7 million) in its Series C round led by Gaja Capital with the participation of existing investors IvyCap Ventures and Redbright Partners. The board at Eggoz has passed a special resolution to issue 1 equity and 15,334 Series C preference shares at an issue price of Rs 81,511 each to raise Rs 125 crore or $14.7 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Gaja Capital will spearhead the round with Rs 100 crore, while IvyCap Ventures and Redbright Partners will inject Rs 20.95 crore and Rs 4.05 crore, respectively. According to Entrackr’s estimates, the company will be valued at around Rs 480-500 crore or $55-58 million post-money. This marks a 60% increase in the valuation when compared to its last round. Founded in 2017 in Bihar by Abhishek Negi, Aditya Singh, and Uttam Kumar, Eggoz operates an asset-light, farmer-led model that ensures fresh eggs reach retailers within 24 hours. The brand has scaled its presence across Delhi-NCR, Bengaluru, Kolkata, Jaipur, Lucknow, and several non-metro cities. In a bid to diversify, Eggoz has also forayed into ready-to-cook offerings such as momos, burger patties, nuggets, and more. Eggoz has raised over $27 million in total funding so far. This includes an $8.8 million Series B round led by IvyCap Ventures. Before this, the company had secured $3.5 million in its Series A round and Rs 3.7 crore during its seed stage. The company has yet to file its FY25 numbers. Eggoz has recorded a 33.6% year-on-year increase in its revenue to Rs 73.1 crore in FY24, while the losses of the firm reduced by 24% to Rs 25 crore in the same period.

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%

EntrackrEntrackr · 11m ago
FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%
Medial

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70% Brainbees Solutions, the parent company of kids-focused omnichannel retailer FirstCry, has released its Q3 FY25 today. The report highlights sound financial growth, with a 14.3% year-on-year growth in scale and controlled losses by 70%. FirstCry's revenue from operations grew to Rs 2,172 crore in Q3 FY25 from Rs 1,900 crore in Q3 FY24, its unaudited financial statements sourced from the National Stock Exchange (NSE) show. The sale of its products through offline stores and websites in India and the international market was the primary source of revenue, accounting for nearly 82% of total operating revenue, while its subsidiary, GlobalBees, contributed Rs 422 crore. The company also made Rs 44 crore from interest income which took its overall revenue to Rs 2,217 crore in Q3 FY25, compared to Rs 1,936 crore in Q3 FY24. For the omnichannel retailer, the cost of procurement of materials accounted for 66% of the overall expenditure which increased 17% year-on-year to Rs 1,451 crore in Q3 FY25 from Rs 1,239 crore in Q3 FY24. FirstCry’s employee benefits stood at Rs 177 crore in Q3 FY25 which includes Rs 28 crore as ESOP cost. The marketing, legal, rent, and technology were other overheads that pushed the overall expenditure to Rs 2,210 crore in Q3 FY25 from Rs 1,978 crore in Q3 FY24. The decent scale and controlled expenditure helped FirstCry to reduce its losses by 70% to Rs 15 crore in the last quarter. Notably, the company reported a positive EBITDA of Rs 152 crore. As of the last trading session, FirstCry’s share price stood at Rs 419 per share, with a total market capitalization of Rs 21,753.8 crore (approximately $2.5 billion).

Furlenco turns around in FY25: Posts profit after Rs 130 Cr loss, revenue surges 65%

EntrackrEntrackr · 2m ago
Furlenco turns around in FY25: Posts profit after Rs 130 Cr loss, revenue surges 65%
Medial

Furlenco turns around in FY25: Posts profit after Rs 130 Cr loss, revenue surges 65% Furlenco managed 65% year-on-year revenue growth and kept tight control on expenses. As a result, Furlenco posted a Rs 3 crore profit after tax (PAT) in FY25, compared with a Rs 130 crore loss in FY24. After a tepid performance in the last fiscal year, subscription-based furniture rental firm Furlenco has made a notable comeback in FY25. The Bengaluru-based firm managed 65% year-on-year revenue growth and kept tight control on expenses. As a result, Furlenco posted a Rs 3 crore profit after tax (PAT) in FY25, compared with a Rs 130 crore loss in FY24. Furlenco’s revenue from operations grew to Rs 229 crore in FY25 from Rs 139 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Furlenco provides furniture and home decor for rent along with relocation services. Income from furniture rental services accounted for 91% of the operating revenue, which grew by 61% to Rs 208 crore in FY25. Income from the sale of products (furniture including sofas and beds), more than doubled to Rs 21 crore during the fiscal year ending March 2025. Including other non-operating activities such as treasury gains of Rs 11 crore, its total income rose to Rs 240 crore in FY25. The company streamlined its cost structure and reduced its total expense by 16% to Rs 237 crore in FY25 from Rs 282 crore in FY24. Employee benefits expenses decreased by 35% year-on-year to Rs 31 crore in FY25, while finance costs dropped 41% to Rs 19 crore in FY25. Cost of material, however, rose 33% to Rs 8 crore in FY25. Depreciation on the company’s furniture rose 29% to Rs 45 crore in FY25 from Rs 35 crore in FY24. With strong revenue growth and lower burn, Furlenco turned profitable and posted a profit of Rs 3 crore in FY25, in contrast to a loss of Rs 130 crore in FY24. Its ROCE and EBITDA margin improved significantly to 5.68% and 24.45%, respectively. On a per-unit basis, the firm spent Rs 1.03 to earn every rupee of operating revenue, compared to Rs 2.03 in FY24. Furlenco’s current assets stood at Rs 106 crore, including cash and bank balances of Rs 32 crore in FY25. According to startup data intelligence platform TheKredible, Furlenco has raised a total of $298 m in funding till date, with Sheela Foam and Lightbox Ventures as its lead investors. The company’s founder and chief executive, Ajith Mohan Karimpana owns 12% of the company. Furlenco certainly seems to have discovered a better playbook for its business, because numbers like these looked unlikely till last year. While the concept has certainly found takers, operating costs had been too high to offer hope of such a turnaround. So credit to the team for having pulled it off.

Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28%

EntrackrEntrackr · 3m ago
Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28%
Medial

Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28% Used car retailer Spinny posted a steady performance in FY25 with notable top-line growth and narrowing losses. The Gurugram-based company’s revenue from operations jumped 25% year-on-year to Rs 4,657 crore, up from Rs 3,730 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Spinny primarily generates its revenue from used car sales, accounting for 97.7% of its operating income (Rs 4,553 crore) from this segment, marking a 25.7% YoY rise during FY25. The balance came from commissions, support services, and advertising. Beyond operations, the company booked Rs 89 crore in non-operating income from interest on deposits, corporate bonds, mutual fund gains, and fair value adjustments. This pushed its total income to Rs 4,746 crore in FY25 from Rs 3,822 crore in FY24. For the used car retailer, the cost of procuring cars was naturally the largest cost center, accounting for 83.3% of the overall cost. In line with a 25% revenue surge, this cost grew 23% to Rs 4,309 crore in FY25. The firm cut its employee benefits by 13.8% to Rs 338 crore in the said year. Spinny’s direct cost stood at Rs 147 crore while its advertising and promotion costs reduced by 11.3% to Rs 125 crore in FY25. Other overheads, including information technology, legal, travelling, and rent, took the total cost to Rs 5,170 crore in FY25. The decent growth in its revenue helped Spinny to cut down its losses by 28.3% to Rs 423 crore in FY25 from Rs 590 crore in FY24. The company has also improved its per unit expense to revenue ratio in FY25, which was recorded at Rs 1.11. In March this year, the company closed $170 million round this year led by Accel Leaders Fund. According to startup data intelligence platform TheKredible, Spinny has raised around $676 million to date, including investors like Tiger Global, Accel, Elevation Capital, and others. The company expanded its portfolio by acquiring Autocar India, an auto media and car content platform, and started its own NBFC subsidiary.

Smytten cuts losses by 41% in FY25; revenue slips to Rs 111 Cr

EntrackrEntrackr · 4m ago
Smytten cuts losses by 41% in FY25; revenue slips to Rs 111 Cr
Medial

Smytten cuts losses by 41% in FY25; revenue slips to Rs 111 Cr Smytten, a product discovery and trial platform, improved its expense discipline and significantly narrowed losses, but the revenue decline highlights its continuing struggle to achieve sustainable growth in FY25. The company’s revenue from operations declined 10.5% to Rs 111 crore in FY25 from Rs 124 crore in FY24, according to its provisional financial statement sourced from the Registrar of Companies (RoC). Smytten derives its income largely from product trials and allied services for D2C and FMCG brands. The firm also generates ancillary revenues through brand promotions and partnerships. The company did not provide a revenue breakup in its provisional financial statements. On the expense front, the cost of materials, the firm’s largest expense, declined 17% to Rs 58 crore in FY25 from Rs 70 crore in FY24. Employee benefit expenses fell 9% to Rs 20 crore, while details of other overheads, including marketing, tech, and operational costs, were not disclosed. Overall, the company managed to reduce its total expenses by 21% to Rs 131 crore in FY25 from Rs 165 crore in FY24. The sharper control on expenses helped Smytten cut its losses by 41% to Rs 23.5 crore, as compared to Rs 40 crore in FY24. Its ROCE and EBITDA margin stood at -76.92% and -16.92%, respectively. On a per-unit basis, the firm spent Rs 1.18 to earn a rupee of revenue in the last fiscal year. As of March 2025, the Bengaluru-based company reported current assets worth Rs 67 crore, including Rs 20 crore in cash and bank balances. According to TheKredible, Smytten has raised a total of $22 million of funding till date, having Roots Ventures and Fireside Ventures as its lead investors. The company’s co-founders Siddhartha Nangia and Swagata Sarangi together own 39.32% of the company.

Ampere posts Rs 659 Cr revenue in FY25; cuts losses by 65%

EntrackrEntrackr · 5d ago
Ampere posts Rs 659 Cr revenue in FY25; cuts losses by 65%
Medial

Ampere posts Rs 659 Cr revenue in FY25; cuts losses by 65% Ampere Vehicles has shown signs of recovery as the company posted single-digit revenue growth in FY25, after the company had seen its revenue fall sharply by 46% in FY24. The company also managed to curb its losses in the same period. Ampere’s operating revenue grew 8% to Rs 659 crore in FY25 from Rs 612 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). Ampere, a brand under Greaves Electric Mobility, focuses on manufacturing electric scooters and three-wheeled vehicles. Sale of these products was the sole source of revenue for the company. Including other income of Rs 16 crore, Ampere’s total income rose to Rs 675 crore in FY25, compared to Rs 641 crore a year earlier. On the spending side, the cost of material accounted for 64% of the total expense. This cost rose 12% to Rs 589 crore in FY25 from Rs 527 crore in FY24. Employee benefit expenses declined 22% to Rs 79 crore, while advertising and promotional spends jumped 30% to Rs 43 crore during the year. Depreciation expenses climbed 41% to Rs 45 crore in FY25 from Rs 32 crore in FY24. Other overheads, including warranty claims, finance costs, and miscellaneous expenses, added another Rs 205 crore in FY25. Overall, total expenses increased 7% to Rs 918 crore in FY25 from Rs 857 crore in FY24. Ampere managed to cut its losses by 65% to Rs 240 crore in FY25 from Rs 691.5 crore in FY24. Its ROCE and EBITDA margin improved to -85.27% and -30.50%, respectively. On a unit basis, Ampere spent Rs 1.39 to earn every rupee of operating revenue during the year, marginally better than Rs 1.40 in FY24. As of March 2025, the company reported cash and bank balances of Rs 25 crore, while its current assets stood at Rs 263 crore. In terms of E2W sales for December, Greaves Electric Mobility retained its sixth position and sold 4,335 units with a market share of 4.66%. In comparison, the segment’s leader TVS sold 24,317 units with a market share of 26.14%. In December 2024, Ampere’s parent Greaves Electric filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) to raise funds through a fresh issue of equity shares aggregating up to Rs 1,000 crore (approximately $119 million) and an offer for sale (OFS) of up to 18.94 crore equity shares. The firm also received a final nod from SEBI for the proposed IPO.

Peak XV-backed BankBazaar posts Rs 249 Cr revenue in FY25; cuts losses

EntrackrEntrackr · 10d ago
Peak XV-backed BankBazaar posts Rs 249 Cr revenue in FY25; cuts losses
Medial

Peak XV-backed BankBazaar posts Rs 249 Cr revenue in FY25; cuts losses Online financial marketplace BankBazaar reported a 33% year-on-year increase in revenue for the fiscal year ended March 2025, while also reducing losses during the same period. BankBazaar’s operating revenue grew to Rs 249 crore in FY25 from Rs 187 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). BankBazaar is a co-branded credit card issuer which lets you check your credit score and cross-sells third-party loans as well as other insurance products. The commission earned from the banks on the disbursal of loans was the sole source of revenue for the firm. Including non-operating income of Rs 5 crore, BankBazaar’s total income stood at Rs 254 crore during FY25 from Rs 188 crore in the previous fiscal. In a media interview last year, BankBazaar CEO Adil Shetty said the company earned about Rs 210 crore in recurring revenue from co-branded credit card distribution and had refocused on credit card distribution and a subscription business for credit health monitoring. The financial statements of BankBazaar have not given a detailed breakdown of the expenses, as the company recorded Rs 165 crore under operating expenses, which makes 59% of the total expenses. This cost rose 65% to Rs 165 crore in FY25 from Rs 100 crore in FY24. Employee benefit expenses declined 8% to Rs 61 crore, while advertising spend remained flat at Rs 14 crore. Finance cost rose 40% to Rs 14 crore. Overall, total costs increased 29% to Rs 278 crore in FY25 from Rs 215 crore in FY24. BankBazar’s net loss decreased by 13% to Rs 23 crore in FY25 from Rs 26.5 crore in FY24. Its ROCE and EBITDA margin stood at -9.86% and -4.42%, respectively. On a unit level, BankBazaar spent Rs 1.12 to earn a rupee of operating revenue during FY25. The company’s current assets stood at Rs 140 crore including Rs 11 crore as cash and bank balances, during FY25. According to TheKredible, BankBazaar has raised a total of $133 million of funding to date, having Peak XV, Amazon and Walden International as its lead investors.

Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37%

EntrackrEntrackr · 4m ago
Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37%
Medial

Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37% Flipkart Internet, the B2B arm of Walmart-owned Flipkart, reported a 14% year-on-year rise in revenue, crossing the Rs 20,000 crore mark in the fiscal year ending March 2025. The Bengaluru-based firm also reduced its losses by 37%, bringing them below Rs 1,500 crore during the same period. Flipkart Internet’s revenue from operations increased to Rs 20,493 crore in FY25, from Rs 17,907 crore in FY24, as per its consolidated financial statements filed with the Registrar of Companies (RoC). Flipkart’s revenue is driven by marketplace, logistics, and advertising services. Income from marketplace services more than doubled to Rs 7,751 crore in FY25 from Rs 3,734 crore in FY24, contributing 38% to operating revenue. Advertising income surged 27% to Rs 6,317 crore, making up 31% of the topline. However, revenue from logistics services declined by 38% to Rs 4,224 crore, reducing its share to 21%. The firm made an additional Rs 314 crore from non-operating sources, which pushed its total revenue to Rs 20,807 crore in the last fiscal year (FY25). On the cost side, the largest cost head remained logistics service charges, which increased 9% to Rs 7,144 crore, accounting for 32% of total expenses. Employee benefit expenses declined 8% to Rs 4,748 crore, while marketing costs rose sharply by 37% to Rs 4,100 crore, making up 18% of overall costs. Collection charges stood at Rs 2,693 crore (12.1% of expenses) and legal/professional fees at Rs 1,394 crore. Overall, Flipkart Internet’s total expenses grew 8% to Rs 22,311 crore in FY25 from Rs 20,627 crore in FY24. Flipkart Internet managed to cut its losses by 37% to Rs 1,494 crore in FY25, from Rs 2,359 crore in FY24. Its EBITDA losses narrowed to Rs 1,078 crore in FY25 from Rs 1,869 crore in FY24, with the EBITDA margin improving from -10.25% to -5.18%. On a unit level, Flipkart spent Rs 1.09 to earn a rupee in FY25, better than Rs 1.15 in FY24. The company’s current assets stood at Rs 11,952 crore, while cash and bank balances rose to Rs 187 crore.

IndiQube crosses Rs 1,000 Cr revenue mark in FY25; cuts losses by 58%

EntrackrEntrackr · 6m ago
IndiQube crosses Rs 1,000 Cr revenue mark in FY25; cuts losses by 58%
Medial

IndiQube crosses Rs 1,000 Cr revenue mark in FY25; cuts losses by 58% IndiQube, a provider of managed workspace solutions, submitted its red herring prospectus (RHP) to SEBI for a proposed Rs 700 crore Initial Public Offering (IPO) last week. The company's financial report indicates a 57% reduction in net loss, attributed to revenue growth and controlled costs. Indiqube’s revenue from operations increased by 28% to Rs 1,059 crore in FY25 from Rs 830 crore in FY24, according to its restated financial statement filed in the RHP. IndiQube derives the majority of its income from rental services, which accounted for Rs 870 crore or over 82% of its total operating revenue. Other income sources included the sale of goods (Rs 66 crore), maintenance charges (Rs 51 crore), electricity charges (Rs 33 crore), and others (Rs 39 crore). The company also made additional Rs 44 crore from non-operating sources, which pushed its total revenue to Rs 1,103 crore in FY25. For the managed space providing firm, depreciation cost related to lease stood at Rs 487 crore, accounting for 39% of the total expense, followed by finance costs, which were recorded at Rs 330 crore. Employee benefit expenses rose to Rs 76 crore while material cost stood at Rs 52 crore during the year. Overall, total expenses remained largely flat at Rs 1,260 crore in FY25 from Rs 1,252 crore a year ago. Despite the high depreciation and finance costs, IndiQube’s near-flat expenses coupled with its top-line expansion helped the company to cut losses by 58% to Rs 141 crore in FY25, as compared to Rs 341 crore in FY24. The Bengaluru-based company spent Rs 1.2 to earn a Rupee of operating revenue in FY25. The company recorded current assets worth Rs 210 crore in FY25, including Rs 61 crore in Cash and bank balances. IndiQube’s equity shares will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The issue will open for subscription on July 23, 2025, and close on July 25, with the anchor book opening on July 22.

OneCard posts Rs 1,878 Cr revenue in FY25, cuts losses by 26%

EntrackrEntrackr · 16d ago
OneCard posts Rs 1,878 Cr revenue in FY25, cuts losses by 26%
Medial

OneCard posts Rs 1,878 Cr revenue in FY25, cuts losses by 26% Mobile-first credit card startup OneCard continued to scale and moved close to the Rs 2,000 crore mark, with total revenue crossing Rs 1,900 crore in the fiscal year ended March 31, 2025. The company also reduced its losses during the year. OneCard’s operating revenue increased by 32% to Rs 1,878 crore in FY25 from Rs 1,425.5 crore in FY24, according to its financial statement sourced from the Registrar of Companies (RoC). Founded in 2019, OneCard (FPL Technologies) provides co-branded credit cards, largely aimed at first-time users, through partnerships with IDFC First Bank, Federal Bank and SBM Bank. It also runs OneScore, an app for credit score tracking and credit management. Revenue from these services was the sole source of income for the company. Despite strong growth, OneCard continued to post losses, although cash burn eased. The company reported a loss of Rs 297.5 crore in FY25, down 26% from Rs 401 crore in FY24. On the cost side, OneCard’s total expenses grew 18% to Rs 2,206 crore in FY25 from Rs 1,866 crore in FY24. However, the company failed to disclose the majority of its expense breakdown, with 73% of its total expenditure being reported under miscellaneous expenses. Advertising and promotional spends saw a notable decline of nearly 40% to Rs 294 crore in FY25 from Rs 488 crore in FY24. Employee benefit expenses increased 26% to Rs 181.5 crore, while IT expenses rose 14% to Rs 67 crore. Finance costs almost doubled to Rs 18 crore during the year. With the company’s revenue outgrowing its expenses, OneCard’s loss decreased 26% to Rs 297.5 crore in FY25 from Rs 401 crore in FY24. Its ROCE and EBITDA margin stood at -41.03% and -15.71% respectively. On a unit basis, OneCard spent Rs 1.17 to earn Re 1 of operating revenue during FY25, better than Rs 1.31 in FY24. The company held cash and bank balances worth Rs 321 crore at the end of FY25 compared to Rs 447.5 crore a year earlier. Its current assets stood at Rs 907 crore in the same period. According to TheKredible, OneCard has raised over $270 million to date. The company is in the process of raising Rs 40 crore (approximately $4.5 million) in debt funding from existing investor Alteria Capital. Recently, OneCard came under the Reserve Bank of India’s (RBI) scrutiny, with the regulator reportedly asking its partner banks to halt the issuance of co-branded credit cards. The RBI is said to be seeking greater clarity on how data is shared between OneCard and its banking partners.

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