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Ranveer Allahbadia’s Monk-E nears Rs 100 Cr revenue in FY24, profit jumps 59%

EntrackrEntrackr · 8m ago
Ranveer Allahbadia’s Monk-E nears Rs 100 Cr revenue in FY24, profit jumps 59%
Medial

Ranveer Allahbadia’s Monk-E nears Rs 100 Cr revenue in FY24, profit jumps 59% Monk Entertainment, co-founded by YouTuber Ranveer Allahbadia (BeerBiceps) and Viraj Seth, has capitalized on this trend, generating Rs 100 crore in revenue in the last fiscal year. Monk Entertainment’s revenue from operations recorded a modest 2.2% growth to Rs 97.8 crore in FY24 from Rs 95.8 crore in FY23, its annual financial statements filed with the Registrar of Companies (RoC) show. Monk-E, a full-stack creative digital media agency, specializes in talent management, video production, social media management, and influencer marketing. In FY24, the company generated 86.6% of its revenue from India, with the rest coming from international markets. On the cost side, influencer marketing charges made up 84% of the total expenses, though the cost dipped 2% year-on-year to Rs 77.4 crore in FY24 from Rs 79 crore in FY23. Meanwhile, employee benefit expenses grew 38% to Rs 7.7 crore during the same period. Out of the total influencer marketing charges, Allahbadia and his venture BeerBiceps Media received Rs 7.77 crore for providing technical services to Monk-E. Commission, legal fees, rent, advertising, and other overheads pushed Monk-E's total costs to Rs 92 crore in FY24. Monk-E recorded a 58.9% year-on-year profit increase, with profits rising to Rs 7.23 crore in FY24 from Rs 4.55 crore in FY23. Its ROCE stood at 35.4%, while the EBITDA margin reached 7.86%. On a unit level, the company spent Re 0.94 to earn a rupee. By the end of FY24, Monk-E's total current assets were reported at Rs 28.46 crore, including Rs 5.5 crore in cash and bank balances. While it's probably too early to speculate about the impact on the firm from Allahbadia’s recent controversy, the scale of Monk-E shows how much is at stake. It is crucial for viewers to apply better discretion before believing everything they see and hear from these new-age channels.

Enkash’s revenue nosedives 77% in FY25, halves losses

EntrackrEntrackr · 3d ago
Enkash’s revenue nosedives 77% in FY25, halves losses
Medial

Enkash saw its revenue plunge 77% in the fiscal year ending March 2025 due to a sharp fall in service income. However, the Mayfield-backed firm managed to cut its loss by more than half during the said fiscal year. Enkash’s operating revenue fell to Rs 71 crore in FY25 from Rs 304 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Enkash offers virtual corporate credit cards, expense management software, and other financial services to help SMEs manage their cash flows and expenses efficiently. The firm derives the majority of its revenue from this service, which dropped by 77% to Rs 68 crore in the last fiscal year from Rs 299 crore a year ago. Income from fees and services also slipped 40% to Rs 3 crore during the period. Including non-operating income of Rs 6 crore, Enkash’s total income stood at Rs 77 crore in FY25 as compared to Rs 308 crore in FY24. The company’s total costs declined 73% to Rs 94 crore in FY25 from Rs 345 crore in FY24. Gift cards purchased formed the largest cost center, contributing nearly 66% of the overall expenses. This expense category fell 73% to Rs 62 crore in FY25 from Rs 233 crore in FY24. Employee benefit costs shrank 44% to Rs 23.5 crore in FY25 from Rs 42 crore in FY24, while other expenses dropped steeply by 89% to Rs 7.5 crore. Despite the drastic revenue fall, Enkash managed to cut down its losses with the help of reduced expenses. The company controlled its loss by 54% to Rs 17 crore in FY25 from Rs 37 crore in FY24. Its ROCE and EBITDA margin stood at -37.70% and -32.25%, respectively. On a unit level, Enkash spent Rs 1.32 to earn a rupee of operating revenue during FY25, compared to Rs 1.13 in FY24. The company had cash and bank balances of Rs 25 crore at the end of March 2025, while its current assets were recorded at Rs 68 crore. According to startup data intelligence platform TheKredible, Enkash has raised a total of $23.5 million of funding till date, having Ascent Capital, Axilor Ventures, and Mayfield as its lead investors. Its founder Yadvendra Tyagi owns 10.28% of the company.

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