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IPO-bound boAt elevates Gaurav Nayyar as CEO

EntrackrEntrackr · 27d ago
IPO-bound boAt elevates Gaurav Nayyar as CEO
Medial

**IPO-bound boAt elevates Gaurav Nayyar as CEO** Nayyar, who previously served as Chief Operating Officer, steps into the CEO role at a time when boAt has returned to profitability and received regulatory clearance for its much-awaited IPO. Imagine Marketing, the parent company of boAt, has elevated Gaurav Nayyar to Chief Executive Officer as the company gears up for its next stage of growth and a public listing. Nayyar brings more than two decades of strategic and operational experience, including eight years as a partner at Bain & Company before joining boAt three years ago. Together with the founding team, he has helped drive the company’s operational execution and business performance. Co-founder Sameer Mehta, who led boAt as CEO in recent years, will now focus on long-term strategy as Executive Director. Co-founder Aman Gupta will retain his role as Non-Executive Director. The leadership change comes on the back of boAt's strong performance in FY25, as the company posted a net profit of Rs 60 crore compared to a loss of Rs 74 crore in the previous year. This turnaround was driven by cost control, resilient audio product sales, and growth in international markets, despite a contraction in its wearables division. boAt's total revenue for FY25 stood at Rs 3,098 crore, of which India contributed the majority, and international revenue grew 44 percent year on year. boAt is now set to become the first Indian D2C electronics brand to go public after receiving SEBI’s approval for its IPO. The upcoming public offer is expected to raise Rs 2,000 crore, with a fresh issue component of Rs 900 crore, and places the company’s valuation near Rs 13,000 crore, as per reports.

boAt makes turnaround in FY25 with Rs 60 Cr profit

EntrackrEntrackr · 1m ago
boAt makes turnaround in FY25 with Rs 60 Cr profit
Medial

boAt makes turnaround in FY25 with Rs 60 Cr profit Consumer electronics firm boAt reported a net profit of Rs 60 crore in FY25, a significant turnaround for the Gurugram-based company as it curtailed losses across its business segments. The company’s austerity measures slightly impacted its top line, which stood at Rs 3,073 crore in FY25 from Rs 3,118 crore in FY24, according to company documents reviewed by Entrackr. Sales of products such as earbuds, speakers, airdopes, and wireless speakers contributed Rs 3,070.4 crore to the company’s revenue, while other operating income added Rs 2.9 crore. Including non-operating income, boAt’s total revenue stood at Rs 3,098 crore in FY25. India remained its core market, accounting for Rs 3,050.5 crore in sales, while international revenue grew 44% year-on-year to Rs 20 crore in FY25. Audio continued to power growth with Rs 2,586 crore in revenue (up 5%), whereas the wearables segment shrank sharply by 40% to Rs 330.4 crore. boAt cut overall expenses by 6% to Rs 3,040 crore. Purchases of stock-in-trade were the largest cost expenditure for boAt, which dropped by 8.9% to Rs 2,070 crore in FY25 from Rs 2271 crore in FY24. According to the documents, its ad spending rose around 7% to Rs 390 crore, while employee costs grew slightly by 3.1% to Rs 135 crore. boAt has raised over $170 million to date, including a $60 million round led by Warburg Pincus and Malabar Investments in 2023. Imagine Marketing, the parent of boAt, is set to become the first Indian D2C electronics brand to go public after receiving SEBI’s nod for its IPO. The markets regulator has cleared its confidential DRHP, and the company is eyeing a Rs 2,000 crore raise, including a Rs 900 crore fresh issue.

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

EntrackrEntrackr · 4d 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.

Traya posts 236 Cr revenue in FY24; turns profitable

EntrackrEntrackr · 9m ago
Traya posts 236 Cr revenue in FY24; turns profitable
Medial

Traya recorded over threefold year-on-year growth, with its revenue crossing Rs 230 crore during the previous fiscal year ending March 2024. Moreover, with this pace, the Mumbai-based company became profitable in the same period. Traya’s revenue from operations surged 3.8X to Rs 236 crore in FY24 from Rs 61 crore in FY23, its annual financial statements sourced from the Registrar of Companies show. Established in 2019, Traya focuses on addressing hair loss at its core by identifying the underlying causes. It provides personalized hair solutions and guidance from a team of experienced hair coaches and physicians. Income from product sales accounted for 99.36% of Traya's total operating revenue, which rose to Rs 234.5 crore in FY24, up from Rs 61 crore in FY23. The rest income came from courier services and doctor consultation fees. Moving on to the expense part, marketing and sales accounted for 43% of the overall expenditure. This cost grew twofold to Rs 98 crore in FY24 from Rs 51 crore in FY23. To the tune of scale, the cost of procurement of materials surged 3.6X to Rs 54 crore in FY24. Traya’s employee benefits also saw a 4X surge to Rs 36 crore in FY23. Other overheads including freight, legal, and travelling increased the overall cost by 154% to Rs 229 crore in FY23 from Rs 90 crore in FY23. The 3.8X growth in scale enabled Traya to achieve a notable profit of Rs 9 crore in FY24, a stark contrast to the Rs 28 crore loss in FY23. Its ROCE and EBITDA margin improved to 8.7% and 5.04%, respectively. On a unit basis, the company spent Rs 0.97 to earn a rupee in FY24. Traya's total current assets recorded at Rs 159 crore, with a cash balance of Rs 85 crore at the end of the previous fiscal year. According to startup-data intelligence platform TheKredible, Traya has raised approximately Rs 96 crore to date, including Rs 75 crore in funding from Xponentia Capital in April this year. The company counts notable investors such as Fireside Ventures, Kae Capital, Xponentia Capital, and Whiteboard Capital.

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