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

EntrackrEntrackr · 5m 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.

Hurun India Rich List 2024: Gautam Adani at #1, billionaire count crosses 300, cumulative wealth & more | Mint

LivemintLivemint · 1y ago
Hurun India Rich List 2024: Gautam Adani at #1, billionaire count crosses 300, cumulative wealth & more | Mint
Medial

Adani Group Chairman Gautam Adani has surpassed Reliance Industries Chairman Mukesh Ambani to top the Hurun India Rich List 2024 with a wealth of ₹11.6 lakh crore. India's total billionaire count has reached 334 individuals, and the cumulative wealth of these billionaires is ₹159 lakh crore. Bollywood superstar Shah Rukh Khan and angel investor Anand Chandrasekaran have made their debut on the list. The youngest billionaires are Zepto's co-founders Kaivalya Vohra (22) and Aadit Palicha (23), while Neha Bansal and Radha Vembu are recognized as prominent women entrepreneurs on the list. India has witnessed a significant surge in wealth creation in recent years, with 1,500 individuals now holding a net worth of ₹1,000 crore or more.

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

EntrackrEntrackr · 4m 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.

Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable

EntrackrEntrackr · 3d ago
Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable
Medial

Exclusive All Stories Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable Full-stack agritech platform BigHaat Agro posted a flat scale with single-digit year-on-year growth in the fiscal year ending March 2025. However, the Bengaluru-based company managed to narrow its losses by over 25% during the last fiscal year. According to its co-founder Sateesh Nukala, BigHaat has crossed the Rs 1,100 crore revenue threshold in FY25 from Rs 1,050 crore in FY24. BigHaat’s revenue split consists of 85% of revenue coming from farm produce sales, with agri-inputs, which is direct to farmers, and digital only contributing 15%. The platform now counts 3 million monthly active farmers and reported 15% gross margins in FY25, said Nukala in an interaction with Entrackr. Nukala highlighted that exports and advanced processing, a high-margin vertical launched in FY25, now contribute 20% to its monthly revenue. “We have reduced our net loss to Rs 25 crore in FY25 from Rs 35 crore in FY24 and turned EBITDA positive for the last three quarters,” said Nukala. He also added that BigHaat is among the few agritech startups to achieve profitability at scale with 6x revenue-to-capital efficiency. As per Nukala, the company is targeting Rs 1,400 crore in FY26, with spices emerging as a key growth driver. “We are also open to acquisitions of new brands to strengthen our portfolio,” he emphasized. BigHaat has raised around $25 million to date. In January 2022, it raised Rs 100 crore led by JM Financial. Beyond Next Ventures, Ashish Kacholia, Ankur Capital, and others are some notable investors for the firm. This contrasts with larger peers. DeHaat, India’s most valued agritech startup, clocked Rs 2,675 crore revenue in FY24 but with losses of over Rs 240 crore. Ninjacart, backed by Walmart and Flipkart, crossed Rs 2,000 crore revenue in the same fiscal but recorded a Rs 259.6 crore loss. By combining steady topline growth, improving margins, and sustained EBITDA profitability, BigHaat is positioning itself as one of the few agritech ventures balancing scale with financial discipline, while many peers continue to burn capital at larger scales.

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