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The Indian Garage Co doubles revenue to Rs 204 Cr in FY25; slips into losses

EntrackrEntrackr · 2d ago
The Indian Garage Co doubles revenue to Rs 204 Cr in FY25; slips into losses
Medial

The Indian Garage Co doubles revenue to Rs 204 Cr in FY25; slips into losses The Indian Garage Co, a Bengaluru-based men’s apparel brand, has doubled its scale in the last fiscal year ending March 31, 2025. However, in order to achieve scale, the company lost its profitability as expenses seconded revenue growth. The company’s operating revenue doubled to Rs 204 crore in FY25 from Rs 101.5 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). The Indian Garage Co is a D2C firm that designs, manufactures, and sells men’s apparel under its in-house brands, catering to the mass-premium segment. Revenue from the sale of its products was the sole source of income for the company. The company’s total income increased to Rs 207 crore in FY25 from Rs 103 crore a year earlier. On the spending side, the cost of material remained the largest expense, accounting for nearly 44% of total expenditure. This cost surged 142% to Rs 104 crore in FY25 from Rs 43 crore in FY24. Job work charges increased 193% to Rs 41 crore, while employee benefit expenses jumped 240% to Rs 17 crore during the year. Depreciation expenses grew threefold to Rs 18 crore, and transportation and distribution costs rose 38.5% to Rs 18 crore. Other overheads added another Rs 39.5 crore to the cost. Overall, total expenses surged 147% to Rs 237.5 crore in FY25 from Rs 96 crore in FY24. With expenses growing faster than revenue, The Indian Garage Co posted a loss of Rs 23 crore in FY25, as compared to a profit of Rs 5 crore in FY24. Its ROCE and EBITDA margin stood at -10.44% and -6.37% respectively. On a unit basis, the company spent Rs 1.16 to earn a Rupee of operating revenue in FY25. The Indian Garage Co reported cash and bank balances of an alarming Rs 3 lakh at the end of FY25, significantly lower than Rs 2.5 crore in FY24. Its current assets stood at Rs 32 crore in the same period. According to Thekredible, The Indian Garage Co has raised a total of $17 million of funding till date, having Aditya Birla Group as its lead investor. The company’s Founder & CEO, Anant Tanted owns 32.34% of the company.

Coffee-first beverage brand Drickle raises Rs 6 Cr in seed round

EntrackrEntrackr · 4d ago
Coffee-first beverage brand Drickle raises Rs 6 Cr in seed round
Medial

Bengaluru-based coffee-first beverage QSR brand Drickle (formerly BONOMI) has raised close to Rs 6 crore in seed funding through equity. The round saw participation from multiple angel investors and operators, including Param Kandhari, Naresh Krishnaswamy, Abhinav Mathur, Hemanshu Jain, Vinay Bhopatkar, Vaibhav Sisinty, Dalvir Suri, and Rishit Jhunjhunwala. Shaili Chopra also participated via Ideabaaz. In April 2025, Drickle had earlier raised Rs 5.3 crore with an additional Rs 50 lakh coming in as an extension of the round via Ideabaaz. The fresh capital will be used to expand Drickle’s outlet network in Bengaluru, strengthen backend manufacturing, build leadership and operations teams, and invest in marketing and brand building. Founded by Rahul Nijhawann and Vardhman Jain, Drickle operates seven compact-format outlets across Bengaluru. Each outlet spans 150–200 sq ft and is clustered within micromarkets to drive high-frequency consumption. The brand operates in the Rs 100–150 price range. Drickle follows a coffee-first model, offering fresh-brewed flavoured coffees, while also selling matcha, boba, and Thai tea beverages. The brand runs an owned backend manufacturing facility in Bengaluru, producing coffee brewing solutions and key ingredients in-house. This allows Drickle to operate asset-light outlets without espresso machines and maintain tighter control over margins and supply chain.

Proost Beer crosses Rs 100 Cr revenue in FY25, achieves EBITDA breakeven

EntrackrEntrackr · 11d ago
Proost Beer crosses Rs 100 Cr revenue in FY25, achieves EBITDA breakeven
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Proost Beer crosses Rs 100 Cr revenue in FY25, achieves EBITDA breakeven Proost, a homegrown beer startup, has recorded strong growth in FY25 with its revenue surging by 2.7X. Alongside the rapid revenue expansion, the company also claimed to have achieved EBITDA breakeven during the fiscal year, according to the company’s press release. The company’s revenue from operations increased by 174% to Rs 115 crore in FY25 from Rs 42 crore in FY24. According to the company, the growth was led by a steep rise in sales volume, which increased from 2.5 lakh cases in FY24 to 8 lakh cases in FY25. “Growing from around Rs 42 crore in FY24 to Rs 115 crore in FY25 and turning EBITDA breakeven is a validating moment for the team… it proves a beer brand in India can be built sustainably and capital efficiently,” said Tarun Bhargava, CEO and co-founder of Proost. The company has achieved EBITDA breakeven, which was largely driven by sharper cost discipline. A major lever was keeping marketing and brand spends under 2% of revenue, while maintaining a lean organisational structure to control people costs. According to TheKredible, Proost has raised $8 million of funding till date, having Dauble Pte, UMJD Family, Dev Punj, and Manshi Parashar as its lead investors. Proost’s capital-efficient growth comes as some early players in the craft beer segment reassess their strategies. Bira 91, once a leading homegrown beer brand, has scaled back its operations over the past year following regulatory disruptions that impacted sales across multiple states. The company also deferred its IPO plans amid pressure on financials. Along with this, it competes with Maka Di, Arbor Brewing Company, Kati Patang, Witlinger, Simba, et al.

GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25

EntrackrEntrackr · 3m ago
GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25
Medial

Fintrackr All Stories GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25 GenieMode continued to grow during the fiscal year ending March 2025. The firm crossed the Rs 650 crore gross merchandise value (GMV) milestone, while controlled expenses helped narrow its losses by 35% year-on-year in FY25. The company’s gross revenue grew 21% to Rs 673 crore in FY25 from Rs 556 crore in FY24, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. GenieMode is a business-to-business cross-border e-commerce marketplace for buyers in furniture, home textile, apparels and accessories. The sale of these goods accounted for 98% of its income, which increased by 20% year-on-year to Rs 657 crore in FY25 from Rs 549 crore in FY24. The company’s largest expense was the cost of materials, which accounted for 75% of the total cost. This expense rose 18% to Rs 551 crore in FY25 from Rs 467 crore in FY24. On the other hand, employee benefit expenses decreased 13% to Rs 69 crore in FY25 from Rs 79 crore in FY24. While legal and professional fees rose 41% to Rs 38 crore, finance costs more than doubled to Rs 14.5 crore. Other expenses added the remaining Rs 51.5 crore, pushing total costs to Rs 731 crore in FY25. In the end, GenieMode managed to cut its loss by 35% to Rs 51 crore in FY25 from Rs 78 crore in FY24. Its ROCE and EBITDA margin stood at -10.76% and -7.58%, respectively. On a unit basis, the company spent Rs 1.09 to earn a rupee of operating revenue in the last fiscal year. On a balance sheet front, the Gurugram-based company recorded total assets of Rs 690.5 crore in FY25 while current assets were Rs 544 crore including Rs 42 crore in cash and bank balances. According to TheKredible, GenieMode has raised $92 million of funding till date, having Info Edge, Tiger Global and Multiples Equity as its lead investors. The company’s co-founders Amit Sharma and Tanuj Gangwani own 39% of the company.

Scaler revenue declines to Rs 363 Cr in FY25; cuts losses by 98%

EntrackrEntrackr · 16d ago
Scaler revenue declines to Rs 363 Cr in FY25; cuts losses by 98%
Medial

Upskilling platform Scaler failed to scale up in FY25 with a decline in revenue. However, a sharp reduction in employee benefit expenses helped the company slash its losses by 98% over the same period. Scaler’s revenue from operations dipped 5.5% to Rs 363 crore in FY25 from Rs 384 crore in FY24, according to its financial statements filed with the Registrar of Companies (RoC). Scaler is a tech upskilling platform that focuses on honing college students' and tech professionals’ skills. The company offers various courses through live classes. Sales of these courses were the sole source of revenue for the company. Including other income of Rs 3 crore, the company’s total income stood at Rs 366 crore during FY25. The Bengaluru-based company has continued to curb its expenses over the years. Employee benefits remained the company’s largest expense, accounting for 46% of the total expense. This cost fell 26.5% to Rs 169 crore in FY25 from Rs 230 crore in FY24. Advertising and promotional spending also saw rationalization, which fell 30% to Rs 64 crore, while training & recruitment expenses dropped 22.4% to Rs 38 crore. IT expenses reduced by one-third to Rs 10 crore, whereas rent expenses increased 6% to Rs 18 crore. Overall, Scaler brought down its total expenses by 23% to Rs 365 crore in FY25 from Rs 474 crore in FY24. The sharp cut in spending helped the company cut its loss by 98% to Rs 2.3 crore in FY25 from Rs 139 crore in FY24. However, the company posted positive EBITDA of Rs 40 lakh in the same period with an EBITDA margin of 0.10%. Scaler closed FY25 with cash and bank balances of Rs 13 crore, while its current assets stood at Rs 48 crore. Interestingly, the company’s current liabilities stood at Rs 330.5 crore during the year. According to TheKredible, Scaler Academy has raised a total of $75 million of funding till date from Tiger Global and Peak XV among others. Its founders, Anshuman Singh and Abhimanyu Saxena, each hold 29.16% of the company. Peak XV Partners owns 22.61%, while Tiger Global holds an 8.13% stake in the company.

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.

Tracxn slips into losses in Q4 FY25 amid flat revenue

EntrackrEntrackr · 7m ago
Tracxn slips into losses in Q4 FY25 amid flat revenue
Medial

Data and research platform Tracxn announced its financial results for the fourth quarter of the last fiscal year (Q4 FY25) on Monday. The firm slipped into losses during the quarter, while its revenue grew by a mere 5% over the same period. Tracxn's revenue from operations stayed flat at Rs 21 crore in Q4 FY25, compared to Rs 20 crore in Q4 FY24, its financial statements sourced from the National Stock Exchange (NSE) show. For the full fiscal year (FY25), Tracxn’s operating revenue increased 2% to Rs 84.5 crore in FY25 from Rs 83 crore in FY24. Tracxn generated its entire operating revenue from subscription sales, offering access to its data and software. However, the Bengaluru-based firm did not provide a detailed revenue breakdown for the quarter. The company also made Rs 1.5 crore from non-operating sources which took Tracxn’s total revenue to Rs 22.7 crore in the fourth quarter. Meanwhile, for the full fiscal year (FY25), total income stood at Rs 90.36 crore. Employee benefits remained the largest cost center for Tracxn, accounting for 86% of its total expenditure. These expenses increased by 5.6% year-on-year, rising to Rs 19.36 crore in Q4 FY25 from Rs 17.77 crore in Q4 FY24. Overall, Tracxn's total costs grew by approximately 10%, reaching Rs 22 crore in Q4 FY25. For the fiscal year ending March 2025, total expenses increased to Rs 84 crore. The stagnant revenue and a nearly 10% increase in overall costs caused Tracxn to slip into losses. The company’s loss after tax stood at Rs 8 crore in Q4 FY25 from a profit of Rs 1.42 crore in Q4 FY24. However, the company reported a profit before tax of Rs 73 lakhs. Meanwhile, for the full fiscal year (FY25), its losses stood at Rs 9.5 crore. The company recently approved an ESOP grant of over 2 lakh shares, valued at Rs 41.6 lakh. As of the last trading session, Tracxn’s share price was Rs 63, giving the company a market cap of Rs 674 crore ($79 million).

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