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VAHDAM India turns profitable in FY25; clocks 95% revenue from global markets

EntrackrEntrackr · 19d ago
VAHDAM India turns profitable in FY25; clocks 95% revenue from global markets
Medial

Direct-to-consumer (D2C) tea brand VAHDAM India turned profitable in FY25 and posted nearly 20% year-on-year revenue growth as it expanded its global reach and product offerings. Direct-to-consumer (D2C) tea brand VAHDAM India turned profitable in the fiscal year ended March 2025. The company also reported top-line growth of nearly 20% year-on-year during the period as it expanded its global distribution and added new products across international markets. VAHDAM India's revenue from operations grew by 19% to Rs 267.5 crore in FY25 from Rs 225.2 crore in FY24, as per its consolidated financial statement filed with the Registrar of Companies (RoC). VAHDAM, an e-commerce brand offering teas, spices, and superfoods, sources ingredients directly from farms across India and sells its products in India and key global markets, including the US, Canada, and Europe. Sales of these products formed the company’s main revenue stream. Notably, exports to the US, Europe, and other global markets contributed over 95% of total revenue at Rs 254.5 crore, up 21% from Rs 210 crore in FY24, while revenue from India stood at just Rs 12 crore. The company also earned Rs 5.9 crore in non-operating income, taking its total revenue to Rs 273.4 crore in FY25. For the D2C firm, transportation was the largest cost center, accounting for 27% of total costs due to the company’s heavy reliance on overseas sales. This expense rose 6% in FY25 to Rs 71.5 crore. Advertising was another significant expense, increasing 16% year-on-year to Rs 58 crore. Cost of materials remained steady at Rs 48 crore in the last fiscal, while employee expenses fell 6% to Rs 27 crore. Commission paid to selling agents stood at Rs 21.4 crore. Other overheads, including rent, legal and professional fees, and miscellaneous expenses, added another Rs 42 crore, taking total costs to Rs 268.2 crore in FY25. Overall, the company's expenses rose marginally by 6% compared to FY24. In the end, the firm’s revenue growth helped it turn profitable in the previous fiscal with a net profit of Rs 5.2 crore, compared to a loss of Rs 17.7 crore in FY24. Its ROCE and EBITDA margin also moved into positive territory at 4% and 2.55%, respectively. As of March 2025, the firm reported Rs 144.5 crore of current assets including Rs 64.4 crore of cash and bank balance. According to startup data intelligence platform TheKredible, VAHDAM India has raised over $40 million in funding to date, including its most recent $3 million round led by SIDBI Venture. Its lead investors include Fireside Ventures, Sixth Sense Ventures, and IIFL Asset Management.

iD Fresh Food reports Rs 681 Cr revenue in FY25; profit surges over 5X

EntrackrEntrackr · 1m ago
iD Fresh Food reports Rs 681 Cr revenue in FY25; profit surges over 5X
Medial

Ready-to-cook food brand iD Fresh Food maintained its growth momentum in FY25, following its turnaround in FY24 when it became profitable. The firm’s revenue grew 22% year-on-year in the fiscal year ending March 2025, while its profit jumped over 5X in the same period. iD Fresh Food’s operating revenue rose to Rs 681.37 crore in FY25 from Rs 557.84 crore, its annual financial statements sourced from the Registrar of Companies (RoC) show. The Bengaluru-based firm earned most of its revenue from the sale of finished goods such as parotas and various batters, which accounted for 76.2% of its total operating income at Rs 518.93 crore. The remaining 23.8%, amounting to Rs 162.2 crore, came from traded goods including dairy products, chapatis, beverages, frozen fruits and chutneys. iD Fresh Food’s cost structure shows that the cost of goods sold was its largest expense, accounting for 50% of total costs. This expense rose 17% to Rs 332.17 crore in FY25 from Rs 283.34 crore in FY24. Meanwhile, employee benefits expenses rose 18% to Rs 143.91 crore, including ESOP costs of Rs 10.31 crore. Advertising and marketing expenses increased 11% year-on-year to Rs 52.34 crore. Rent expenses rose 26% to Rs 27 crore, while transportation costs spiked 45% to Rs 18.93 crore in FY25. Other overheads including power and fuel, legal and professional fees, repairs and maintenance, and travel expenses added another Rs 87 crore, taking total expenses to Rs 661.49 crore. Cash outflows from operating activities tripled to Rs 33.35 crore in FY25. In the end, the company’s revenue growth outpaced the rise in total expenses. As a result, iD Fresh Food’s profit surged over 5X to Rs 25.87 crore from Rs 4.43 crore in FY24. The deferred tax credit of Rs 24.88 crore has been excluded from the analysis, as it is a non-cash item and not part of the company’s core operations. On a unit level, the Premji Invest-backed firm spent Rs 0.97 to earn a rupee of operating revenue in FY25, compared to Rs 1 in FY24. It also improved its EBITDA margin to 8.68% during the last fiscal year. As of March 2025, iD Fresh Food recorded current assets worth Rs 206.74 crore including Rs 99.21 crore in cash and bank balance. According to startup data intelligence platform TheKredible, iD Fresh Food has raised around $120 million to date from investors, with Premji Invest and NewQuest Capital among the lead backers.

Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2

EntrackrEntrackr · 2m ago
Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2
Medial

Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2 Savings app Jar has reported strong growth in FY25, reaching an operating revenue of Rs 208 crore during the fiscal year ending March 2025. The surge in scale came after the company vertically integrated its gold stack, which pushed its gross revenue to Rs 2,450 crore during the period. Vertical integration implies owning and operating several stages of the gold value chain. The Bengaluru-based startup also reduced its net losses (excluding ESOP costs) to Rs 35.23 crore and turned fully profitable in the last two consecutive quarters from January to June 2025. Founded in 2021 by Nishchay AG and Misbah Ashraf, Jar has built a base of over 35 million registered users across 12,000 pin codes, with more than 95% of its users being first-time savers. Jar leverages UPI Autopay to automate savings and has expanded into jewellery through its vertical Nek and forayed into insurance offerings. The startup has raised over $60 million with a valuation of approximately $325 million, backed by investors like Tiger Global, Arkam Ventures, Tribe Capital, and WEH Ventures.

Captain Fresh turns profitable in FY25; GMV jumps 2.5X

EntrackrEntrackr · 3d ago
Captain Fresh turns profitable in FY25; GMV jumps 2.5X
Medial

Captain Fresh, a seafood and animal protein supply chain startup, has posted a profit within five years of operations and has become one of the fastest-growing startups in its space. The Bengaluru-based firm has also posted over 2X scale in FY25, backed by strong growth in international markets, particularly the United States. The company’s gross revenue (GMV) surged 2.5X to Rs 3,421 crore in FY25 from Rs 1,395 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Founded in 2020, Captain Fresh operates as a tech-driven, vertically integrated platform that controls the entire seafood value chain from procurement to distribution without owning capital-intensive assets. Captain Fresh generates a major share of its revenue from export markets. The USA contributed over 71% to the operating revenue, growing more than 5.6X to Rs 2,416 crore in FY25 from Rs 362 crore in FY24. India’s contribution, however, declined by 49% to Rs 340 crore, while new markets like Poland (Rs 239 crore) and France (Rs 181 crore) also made significant contributions. Other key geographies included Italy (Rs 50 crore), the UAE (Rs 48 crore), and Spain (Rs 31 crore). The surge in gross revenue stems largely from its acquisition spree. Captain Fresh picked up CenSea in February 2024 and added Ocean Garden to its portfolio this February. Overall, the company has a total of 10 subsidiaries and a joint venture across the United States, Norway, France, Spain, Indonesia, Poland, and the Netherlands. The company’s largest expense, cost of materials, accounted for over 82% of total expenditure, which increased 2X to Rs 2,846 crore in FY25 from Rs 1,311 crore in FY24. Employee benefit expenses more than doubled to Rs 195 crore, while freight and forwarding charges shot up 2.7X to Rs 102 crore. Finance costs grew sharply to Rs 94 crore in FY25. Legal and professional fees remained largely flat at Rs 44 crore, and other expenses stood at Rs 173 crore. Overall, in the line of scale, Captain Fresh’s total costs doubled to Rs 3,454 crore in FY25 from Rs 1,648 crore a year earlier. With over 2X revenue surge, the company turned profitable and posted a net profit of Rs 42 crore against a loss of Rs 229 crore in FY24 (It's worth noting that Rs 68 crore were credited in terms of deferred tax, which helped the company to be in green). The company’s ROCE and EBITDA margin stood at 4.05% and 2.12% respectively. On a unit level, Captain Fresh spent Re 1.01 to earn a rupee of operating revenue, improving from Rs 1.18 in FY24. The firm’s current assets were valued at Rs 1,858 crore, while capital employed rose to Rs 1,358 crore. The company maintained cash and bank balances of Rs 88 crore at the end of FY25. According to the startup data intelligence platform TheKredible, Captain Fresh has raised over $200 million to date, including a $30 million pre-IPO round in January this year from Prosus, Accel, Tiger Global, and others. Matrix Partners, Accel, Tiger Global, Ankur Capital, and Prosus are some notable investors for Captain Fresh. Captain Fresh is set to raise Rs 1,700 crore (about $200 million) through a fresh issue of shares as part of its upcoming initial public offering (IPO). The Tiger Global-backed company is reportedly eyeing a total issue size of $350-400 million, including an offer for sale (OFS).

SafeGold clocks Rs 6,867 Cr in gold transactions in FY25; turns EBITDA positive

EntrackrEntrackr · 12d ago
SafeGold clocks Rs 6,867 Cr in gold transactions in FY25; turns EBITDA positive
Medial

Digital gold investment platform Safegold’s gross revenue growth slowed to 12% in FY25 as it reported Rs 6,867 crore in operating revenue. The firm also turned EBITDA positive during the year. Digital gold investment platform Safegold’s gross revenue growth slowed to 12% in FY25, following strong expansion of 82% and 36% in FY23 and FY24, respectively, amid soaring gold prices in the country. However, the company turned EBITDA positive during the last fiscal year. Safegold gross revenue surged by 12% to Rs 6,867 crore in FY25 from Rs 6,116 crore in FY24, its consolidated financial statements filed with the Register of Companies (RoC) shows. Safegold is a digital platform that allows customers to easily buy, sell, and securely store vaulted gold, even in small denominations. It also enables users to convert their digital gold into jewellery through partnerships with Tata-owned Tanishq and CaratLane. The sale of digital gold across online and offline platforms was the primary revenue driver for the Mumbai-based company and contributed Rs 6,839 crore. The firm earned another Rs 27 crore from other operating revenue sources. Safegold sourced gold from refineries, custodians, and other trusted partners, accounting for 99.2% of its total expenditure. This cost climbed 12.5% to Rs 6,809 crore in FY25 from Rs 6,052 crore in FY24, mirroring its overall scale-up. Employee benefits expenses rose 12.5% year-on-year to Rs 12.44 crore in FY25, while it booked Rs 30.83 crore under miscellaneous expenses. Legal and professional fees, advertising, distribution, and other overheads pushed the total expenditure to Rs 6,895 crore in FY25. On the bottom line, Safegold’s losses rose to Rs 12.2 crore, which included Rs 14.48 crore of one-time exceptional expenses. At the operational level, however, the company reported a positive EBITDA of Rs 2 crore during the year. Its ROCE and EBITDA margin stood at 32.77% and 0.03% respectively. On a unit level, it spent Rs 1 to earn a rupee in FY25. The company’s current assets stood at Rs 56.74 crore, including cash and bank balances of Rs 32 crore at the end of March 2025. Safegold is backed by Pravega Ventures, Beenext, a Singapore-based angel network, and individual investors such as Rajan Anandan, Roshan Angrish, Prashant Malik, and Niraj Shah. The company has raised over $2 million to date, according to startup data intelligence platform TheKredible. Even as SafeGold reported steady growth in FY25, digital gold continues to gain traction among retail investors. SEBI’s recent clarification that these products do not fall under its regulatory or commodity-derivative framework has removed ambiguity but keeps the category largely self-governed, a gap that could hamper customer interests in the long run if platforms fail to uphold adequate safeguards. With distribution widening across fintech apps, the onus is now on players to strengthen disclosures, audits and vault-management practices as the category scales.

Exclusive: Oxyzo clocks Rs 330 Cr PAT on Rs 1,207 Cr revenue in FY25

EntrackrEntrackr · 6m ago
Exclusive: Oxyzo clocks Rs 330 Cr PAT on Rs 1,207 Cr revenue in FY25
Medial

According to consolidated financial statements reviewed by Entrackr, Oxyzo’s operating revenue rose to Rs 1,207 crore in FY25, up from Rs 903 crore in FY24. Following a 58% year-on-year growth in FY24, B2B fintech unicorn Oxyzo Financial Services continued its strong momentum in FY25, recording a 33.7% YoY increase in revenue for the fiscal year ended March 2025. The company also reported a 16.5% rise in profit during the same period. Oxyzo, the lending arm of the industrial goods and services procurement platform OfBusiness, offers credit solutions and loans to small and medium enterprises (SMEs) and startups. Interest income from loan disbursements contributed 95% of its total operating revenue, which rose to Rs 1,141 crore in FY25. The remaining revenue came from fees and commissions. As a lending-focused company, finance costs emerged as the largest expense for Oxyzo, accounting for 58% of its total spending. These costs climbed to Rs 439 crore in FY25, in line with the company's expanding scale. Oxyzo spent Rs 143 crore on employee benefits. Its legal, impairment, administrative, and other operational expenses contributed to a total expenditure of Rs 755 crore in FY25, up from Rs 514 crore in FY24. The combination of topline growth and controlled cost mechanism helped the company post a 16.5% growth in profits, which rose to Rs 339 crore in FY25, compared to Rs 291 crore in the previous fiscal year. Oxyzo raised approximately $200 million in 2022, achieving unicorn status following its Series A round led by Alpha Wave and Tiger Global. The company also plans to raise a fresh round of equity in the second half of FY26 in the range of $100-150 million. According to startup data intelligence platform TheKredible, the OFB group, including its promoters, holds a 74.5% stake, while Alpha Wave is the largest external investor with a 7.4% share, followed by Tiger Global. Its parent OfBusiness is also gearing up for a $1 billion IPO, expected to include a combination of a fresh issue and an offer for sale.

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