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Mokobara reports Rs 117 Cr revenue and Rs 4 Cr loss in FY24

EntrackrEntrackr · 1y ago
Mokobara reports Rs 117 Cr revenue and Rs 4 Cr loss in FY24
Medial

Peak XV-backed Mokobara grew rapidly in the fiscal year ending March 2024, with its operating scale surging 2.2X. Simultaneously, the Bengaluru-based firm halved its losses during the same period. Mokobara's revenue from operations spiked to Rs 117.4 crore in the last fiscal year from Rs 53.3 crore in FY23, according to its financial statement sourced from the Registrar of Companies (RoC). Mokobara is an Indian direct to customer luggage brand which offers wallets, travel bags, kits, sling bags and other travel accessories. Sale of these products was the sole source of revenue for the company in FY24. The company also earned additional Rs 1.6 crore from interest income which pushed its total income to Rs 119.03 crore in FY24. On the expense side, the largest expense category, material costs, spiked 2X to Rs 57.28 crore, constituting 46.5% of the total expenses. Advertising expenses grew by 37.9% to Rs 22.64 crore, while employee benefit costs rose sharply by 2.6X to Rs 13.02 crore. Overall, Mokobara's total costs doubled to Rs 123.3 crore in the last fiscal year from Rs 61.9 crore in FY23. In the end, Mokobara managed to halve its losses to Rs 4.24 crore in FY24 from Rs 8.21 crore in FY23. Its ROCE and EBITDA margin stood at -0.97% and -0.92%, respectively. On a unit basis, the company spent Rs 1.05 to earn a rupee of operating revenue during the last fiscal year. The company's current assets grew to Rs 182.6 crore in FY24, driven by increased cash and bank balances, which surged to Rs 111.67 crore. By the end of FY24, Mokobara raised $12 million led by Peak XV. It competes with Uppercase, Assembly, Nasher Miles, and EUME, all of which secured funding in 2024. Uppercase raised $9 million in August, Assembly secured $2 million led by Prath Capital, Nasher Miles raised $4 million in a bridge round, and EUME received funds in a seed round. Mokobara has made its mark, and done it well by easing almost into profits, in a market that has begun to see a 'once in 30 years' sort of upheaval. If it was Safari upending the cozy duopoly of VIP industries and Samsonite earlier, it is brands like Mokobara that are still slicing and dicing the market for more discerning customers. Investors clearly see the signs, but are probably not as convinced about the eventual potential in the mature category, which explains the tentative size of the bets. Mokobara has the clear opportunity in D2C, and the focus should hold it in good stead to establish itself more firmly.

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Mokobara revenue doubles to Rs 230 Cr in FY25

EntrackrEntrackr · 5d ago
Mokobara revenue doubles to Rs 230 Cr in FY25
Medial

Mokobara revenue doubles to Rs 230 Cr in FY25 Peak XV-backed D2C luggage and travel accessories brand, Mokobara, has scaled up more than fourfold over the last two fiscal years, with its operating revenue rising to Rs 230 crore in FY25 from Rs 53 crore in FY23. Mokobara’s revenue from operations surged by 97% to Rs 230 crore in FY25 from Rs 117 crore in FY24, according to its financial statement sourced from the Registrar of Companies (RoC). The company earns revenue mainly from the sale of luggage, backpacks, and travel accessories through its online and offline channels. The sale of these products was the sole source of revenue for the company in FY25. The firm posted Rs 10 crore in interest income, which took its total income to Rs 240 crore in FY25, compared to Rs 119 crore in FY24. The cost of procurement was the largest expense for the luggage-selling company. This cost surged 91% to Rs 109 crore and accounted for 43% of the overall spend in FY25. Advertising expenses rose 88% to Rs 46 crore in FY25. Employee benefit expenses almost doubled to Rs 25 crore while logistics charges and warehousing costs stood at Rs 11 crore and Rs 8 crore, respectively. Overall, Mokobara’s total expenses more than doubled to Rs 251 crore in FY25 from Rs 123 crore in FY24. In the end, the company posted a net loss of Rs 10 crore in FY25, compared to a loss of Rs 4 crore in the previous fiscal year. Its ROCE and EBITDA margin stood at -11.61% and -6.52% respectively. On a unit basis, the company spent Rs 1.09 to earn a rupee during the fiscal year. The Mumbai-based firm reported cash and bank balances of Rs 72.5 crore, while its current assets stood at Rs 204 crore in FY25. Mokobara has raised around $24 million in funding to date, with Sauce, Saama Capital, and Peak XV Partners as its lead investors. Mokobara competes with the likes of Nasher Miles, Zouk Bags, and Acefour Accessories. The luggage and accessories space has been one of the big ones to wake up after seemingly decades of slumber till 2020. It has seen multiple brands emerge since, and Mokobara has done well to capture significant mind space as a premium offering. The company has built offline reach as well, with new stores in the past year, so costs will take a while to settle, even as sales are pushed hard to keep losses in check. Outsourced manufacturing and design have enabled many firms to test the segment, and it’s clearly a buyers' market for now. Mokobara has the reserves to make a break for the 500 crore milestone before needing any further funding, and it remains to be seen how it charts that path. It could come as early as FY26 if plans work out, and definitely by FY27, looking at momentum. Before that, will the firm become a target for acquisition? We will wait and watch.

Info Edge crosses Rs 2,500 Cr revenue and Rs 500 Cr profit threshold in FY24

EntrackrEntrackr · 1y ago
Info Edge crosses Rs 2,500 Cr revenue and Rs 500 Cr profit threshold in FY24
Medial

Info Edge, the parent company of Naukri and 99acres, published its financial statements on Thursday. The consolidated figures showcased a modest 8% increase in revenue for FY24. However, the company made a turnaround in its bottom line, transitioning from a loss of Rs 70 crore in FY23 to a profit of Rs 594 crore in FY24. Info Edge’s revenue from operations grew 8% to Rs 2,536 crore in FY24 from Rs 2,345 crore in FY23, its consolidated financial statements disclosed with the stock exchange shows. Meanwhile, the company posted a 4.8% increase in revenue to Rs 657 crore in Q4 FY24 from Rs 627 crore in Q3 FY24. The Sanjeev Bikchandani-led firm operates through different segments. Income from Naukari.com and related portals formed 74.1% of its total revenue which increased 7.49% to Rs 1,880 crore in FY24. Its other segment 99acres saw a 23.6% growth to Rs 351 crore in FY24. Jeevansathi and Shiksha combined participated with Rs 305 crore of revenue during FY24. Info Edge made Rs 414 crore from non-operating activities tallying its total revenue to Rs 2,950 crore in FY24. Akin to other internet companies, its employee benefits accounted for 61% of its total expenditure which grew only 2.83% to Rs 1,128 crore in FY24 from Rs 1,097 crore in FY22. Info Edge’s network/internet, advertising cum promotional, legal, traveling and other overheads push the total expenditure to Rs 1830 crore in FY23 from Rs 1,858 crore in FY23. Note 1: The company recorded exceptional items of Rs 110 crore and Rs 509 crore in FY24 and FY23 respectively due to the decrease in the carrying value of investments. This was the primary reason for the significant loss posted in FY23. Note 2: The company has 15 joint ventures including Makesense, Happily Unmarried’s Ustraa (now acquired by VLCC), Shopkirana, Juno, Sploot and others during FY24. Info Edge recorded a share loss of Rs 131 crore and 231 crore in FY24 and FY23 respectively in its joint ventures which also makes a part of its consolidated figures and reflects losses in the financial statements. At the end, Indo Edge posted a net profit of Rs 594 crore in FY24 where the figures stood at a loss of Rs 70 crore in FY23 (refer note 1 and 2). On a unit level, it spent Rs 0.72 to earn a rupee in FY23.

Kuku FM reports Rs 240 Cr revenue in FY25; spends Rs 285 Cr on marketing

EntrackrEntrackr · 1m ago
Kuku FM reports Rs 240 Cr revenue in FY25; spends Rs 285 Cr on marketing
Medial

Kuku FM reports Rs 240 Cr revenue in FY25; spends Rs 285 Cr on marketing Kuku FM has continued its impressive growth trajectory with nearly tripling its scale in FY25. After clocking a 114% year-on-year revenue growth in FY24, the audio content platform reported a sharper 175% jump in its scale in FY25. However, the IPO-bound firm slipped deeper into losses during the period due to high advertising spends. Kuku FM’s operating revenue surged to Rs 242 crore in FY25 from Rs 88 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). Kuku FM offers a diverse range of audio content across genres such as business, self-help, personal finance, history, religion, entertainment, and fitness. Revenue from paywalled subscription sales was the sole source of income for Kuku FM. The company also earned Rs 16 crore from other income which pushed its total income to Rs 258 crore in FY25. The sharp rise in revenue was accompanied by a steep increase in expenses. Kuku FM’s total expenses more than doubled, to Rs 411 crore in the last fiscal year from Rs 200 crore in FY24. Advertising expenses emerged as the biggest cost component which accounted for nearly 70% of the total expenditure. To the tune of scale, this cost rose 2.8x to Rs 285 crore in FY25 from Rs 102 crore in FY24. Employee benefit expenses increased 28% to Rs 60 crore, while information technology expenses rose 28% to Rs 27 crore during the year. Depreciation costs tripled to Rs 9 crore in the same period. The aggressive spending pushed Kuku FM’s loss to increase by 59% to Rs 153 crore in FY25 from Rs 96 crore in FY24. Its ROCE and EBITDA margin stood at -163.73% and -65.29% respectively. On a unit level, it spent Rs 1.70 to earn a rupee of operating revenue in FY25, compared to 2.27 in FY24. The company reported current assets worth Rs 268 crore, including Rs 117 crore in cash and bank balances during the year. According to TheKredible, the company has raised a total of $157 million of funding till date. Having The Fundamentum Partnership, Vertex Ventures, and Krafton as its lead investors which owns 12.79%, 11.12%, and 10.17% of the company respectively. Kuku FM is also gearing up for the public markets. The audiobooks and storytelling platform has reportedly shortlisted four investment banks to help it raise up to Rs 3,000 crore through an initial public offering (IPO). The proposed IPO is expected to comprise a mix of fresh issuance and an offer for sale (OFS).

Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24

EntrackrEntrackr · 1y ago
Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24
Medial

Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24 Offline coaching firm Drishti IAS Institute crossed Rs 400 crore of revenue during the previous fiscal year ended in March 2024. The profits for the Vikas Divyakirti-led firm touched Rs 90 crore in the same period. Drishti IAS’s revenue from operations increased by 30.6% year-on-year to Rs 405 crore in FY24 from Rs 310 crore in FY23. The Delhi-based company's revenue rose from Rs 40 crore in FY21 to Rs 119 crore in FY22, and further to Rs 310 crore in FY23. The 26-year-old educational platform mainly provides offline coaching for Civil Services Examination (CSE). Income from coaching services accounted for 94.8% of the total operating revenue, which increased by 37.6% to Rs 384 crore in FY24 from Rs 279 crore in FY23. The remaining income is generated from the sale of study materials, including pen drives, books, test papers, and other resources. Drishti IAS operates seven institutes, including two in Delhi, three in Uttar Pradesh, and one each in Jaipur and Indore. Its Mukherjee Nagar Institute is the largest revenue contributor, accounting for 58% of the total coaching income. Employee benefits and faculty charges constituted 40% of its overall cost, increasing by 41% to Rs 117 crore in FY24 from Rs 83 crore in FY23. Drishti IAS's advertising spending also jumped 3.4X to Rs 51 crore in FY24. Drishti IAS's overall expenditure increased to Rs 289 crore in FY24 from Rs 197 crore in FY23. Higher spending on employee benefits and advertising resulted in a modest 3.4% increase in net profits, which rose to Rs 90 crore in FY24 from Rs 87 crore in FY23. The company's ROCE and EBITDA margin were recorded at 55.7% and 33.73%, respectively, while the expense-to-revenue ratio stood at Re 0.71. As of March 2024, the company's total current assets were valued at Rs 88 crore, with cash and bank balances of Rs 54 crore.

Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25

EntrackrEntrackr · 2m ago
Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25
Medial

Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25 Distribution and supply chain platform Ripplr posted nearly three-fold GMV growth in FY24. However, its growth momentum slowed sharply as it barely achieved double-digit growth in the last fiscal year. Ripplr’s gross revenue grew by 13% to Rs 1,164 crore in FY25 from Rs 1,028 crore in FY24, according to its annual financial statement. For the uninitiated, Ripplr offers a plug-and-play distribution network as a service to digitize and manage brand operations. Goods sales accounted for 92% of Ripplr's total gross revenue, which increased by 14% year-on-year to Rs 1,068 crore in FY25. Income from logistics and warehousing were other revenue drivers for the 3One4 Capital-backed firm. Cost of materials remained the largest expense for the company which formed nearly 81% of total expenditure and rose 14.5% to Rs 1,018 crore in FY25 from Rs 889 crore in FY24. However, its employee benefit expenses declined sharply by 33% to Rs 40 crore in FY25 from Rs 60 crore in FY24. Depreciation, finance costs, and professional fees collectively added another Rs 32.5 crore while other expenses, covering logistics, store operations, and miscellaneous overheads, rose 14.5% to Rs 169.5 crore. Overall, Ripple’s total expenses increased 12% to Rs 1,260 crore in FY25. Ripplr posted a loss of Rs 91 crore in FY25, almost identical to Rs 90 crore it lost in FY24. The firm’s ROCE and EBITDA margin improved slightly to -30% and -5.88% respectively. On a unit level, Ripplr spent Rs 1.08 to earn a rupee of operating revenue in FY25, compared to Rs 1.10 in the previous fiscal. The Bengaluru-based firm recorded cash and bank balances of Rs 63 crore, while current assets rose to Rs 381 crore in FY25. Ripplr is reportedly in discussions to raise Rs 400 crore from SBI and existing investors. Before this, the company raised over $45 million. According to startup data intelligence platform TheKredible, Sojitz Corporation and 3One4 Capital are their notable investors.

Plush scales 2.3X to Rs 66 Cr revenue in FY25

EntrackrEntrackr · 7d ago
Plush scales 2.3X to Rs 66 Cr revenue in FY25
Medial

Feminine hygiene brand Plush has continued its impressive growth, with its revenue more than doubling in the last fiscal year ending March 31, 2025. The company posted a loss of Rs 7 crore in the same period. Plush’s revenue from operations increased by 2.3X to Rs 66 crore in FY25 from Rs 29 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). The company primarily generates its revenue from the sale of personal care and hygiene products. Including Rs 1 crore from other income from interest, Plush’s total income stood at Rs 67 crore in FY25, compared to Rs 29 crore in the previous fiscal year. On the spending side, the cost of materials consumed remained the largest expense, accounting for 34% of the total expense. This cost rose 127% to Rs 25 crore in FY25 from Rs 11 crore in FY24. Advertising and marketing expenses jumped 96% to Rs 21.5 crore in FY25. Employee benefit expenses increased 67% to Rs 4 crore while shipping and delivery costs stood at Rs 2.6 crore. Overall, Plush’s total expenses increased 118% to Rs 74 crore in FY25 from Rs 34 crore in FY24. With increased scale, the company’s loss surged by 75% to Rs 7 crore in FY25 from Rs 4 crore in FY24. Its ROCE and EBITDA margin stood at -93.75% and -11.23% respectively. On a unit economics basis, Plush spent Rs 1.12 to earn every rupee of operating revenue during the year, improving from Rs 1.17 in FY24. As of March 2025, the company reported cash and bank balances of Rs 3 crore, while its current assets stood at Rs 29.5 crore in the same period. According to the company, it is on track to reach a Rs 200 crore revenue run rate in the current calendar year. As per the startup data intelligence platform TheKredible, Plush has raised a total of $8 million in funding to date, including the recent Rs 40 crore in series B led by angel investor Rahul Garg (Managing Partner Ignite Growth), along with participation from Ajay Kumar Aggarwal, Careernet Technologies, OTP Ventures, Blume Founders Fund, and other investors.

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%

EntrackrEntrackr · 8m ago
Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%
Medial

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6% Logistics company Delhivery announced its Q4 FY25 results on Friday, reporting a 6% year-on-year increase in revenue. The Gurugram-based firm also reported a profit of Rs 72 crore during the same period. Delhivery’s revenue from operations grew to Rs 2,191 crore in Q4 FY25, according to its financial statements filed with the National Stock Exchange (NSE). For the full fiscal year (FY25), Delhivery’s operating revenue increased 10% to Rs 8,932 crore in FY25 from Rs 8,141 crore in FY24. Delhivery's primary revenue sources were its logistics services, including warehousing, last-mile logistics, and designing and deploying logistics management systems. The firm also earned Rs 112 crore from non-operating activities, bringing its total revenue to Rs 2,303 crore in Q4 FY25. Meanwhile, for the full fiscal year, total income reached Rs 9,372 crore. For Delhivery, freight handling and servicing costs made up 70% of its total expenditure, rising by 3% to Rs 1,566 crore in Q4 FY25. Employee benefit expenses decreased by 6% to Rs 337 crore. Legal, depreciation, and other overhead costs contributed to a minor decrease in overall expenditure, which reached Rs 2,249 crore during the quarter. For the full financial year ending March 2025, the firm’s total expenses rose to Rs 9,217 crore as against Rs 8,825 crore in FY24. Delhivery's continued growth and controlled expenditure resulted in a profit of Rs 72 crore in Q4 FY25, compared to a loss of Rs 68 crore in Q4 FY24. On a fiscal basis, it turned profitable and reported a net profit of Rs 162 crore in FY25 as compared to a loss of Rs 249 crore in FY24. At the close of today’s trading session, Delhivery’s share price stood at Rs 321 per share, giving the company a market capitalization of Rs 23,957 crore.

Okinawa’s revenue nosedives 87% to Rs 182 Cr in FY24

EntrackrEntrackr · 9m ago
Okinawa’s revenue nosedives 87% to Rs 182 Cr in FY24
Medial

Okinawa’s revenue nosedives 87% to Rs 182 Cr in FY24 Okinawa Autotech, once a prominent player in India’s electric two-wheeler space, saw its revenue plunge by nearly 87% in FY24, posting a loss of Rs 50 crore, which signaled a major setback for the homegrown EV brand. Okinawa’s revenue from operations decreased to Rs 182 crore in FY24 from Rs 1,144 crore in FY23, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Founded in 2015, Okinawa Autotech is an electric two-wheeler manufacturer known for models like the PraisePro, iPraise+, Okhi-90, Ridge+, Lite, and R3. The sale of electric two-wheelers was the sole source of revenue for the Gurugram-based firm. Okinawa's sales declined significantly from 95,931 units in FY23 to 20,873 units in FY24. The company's market share also dropped from 13.17% to 2.20% during the same period. In the current fiscal year (FY25), it has managed to sell only 3,548 units, translating to a market share of just 0.31%. For the electric vehicle manufacturer, the cost of procurement accounted for 68% of the overall expenditure. To the tune of scale, this cost was reduced by 80% to Rs 171 crore in FY24 and Rs 859 crore in FY23. Its employee benefits shrank by 16% to Rs 26 crore in FY24. Okinawa’s advertising cost diminished by 88% to Rs 4 crore in FY24. Its rent, warranty claims, freight, and other overheads took the overall cost to Rs 251 crore in FY24 from Rs 991 crore in FY23. The sharp contraction in scale led Okinawa to report a Rs 52 crore loss in FY24. For context, the company posted Rs 166 crore of EBITDA in FY23. Its ROCE and EBITDA margins worsened to -102% and -25.8% respectively. On a unit level, it spent Rs 1.38 to earn a rupee in FY24. By the close of FY24, Okinawa’s total current assets were valued at Rs 276 crore. Okinawa competes with Ola Electric, which reported Rs 1,045 crore in revenue for Q3 FY25, and Ather, which filed its DRHP to raise Rs 3,100 crore through an initial public offering (IPO). In the traditional two-wheeler market, it faces competition from established players like Bajaj, Hero, and TVS Electric. Okinawa’s decline is the result of several challenges, including fire safety issues, stricter regulations, a loss of consumer trust, and growing competition from better-equipped rivals. Once seen as a leader in the EV space, the company now faces the tough realities of a maturing market, where success depends on innovation, compliance, and consistency.

Snapdeal records Rs 384 Cr revenue in FY24, adjusted EBITDA loss drops by 88%

EntrackrEntrackr · 1y ago
Snapdeal records Rs 384 Cr revenue in FY24, adjusted EBITDA loss drops by 88%
Medial

Snapdeal records Rs 384 Cr revenue in FY24, adjusted EBITDA loss drops by 88% E-commerce marketplace Snapdeal delivered steady financial results in FY24 as its revenue from operations increased by 2.1%, rising to Rs 379.76 crore in FY24. The company’s cost-reduction measures led to its adjusted EBITDA loss dropping by 88% from Rs 144 crore in FY23 to Rs 16 crore in FY24. It also improved its operating cash flows during the last fiscal year. Snapdeal’s revenue from operations increased by 2.1%, rising to Rs 379.76 crore in FY24 from Rs 371.96 crore in FY23, according to its consolidated financial statements filed with the RoC. Snapdeal’s primary revenue streams include marketing services, e-commerce enablement, and other ancillary sources. Marketing services continued to be the largest contributor, generating Rs 252.55 crore, though it witnessed a dip of 9.6% compared to FY23. Its enablement revenue increased by 14.8% to Rs 103.36 crore, reflecting the platform’s growing traction among value-focused sellers. Additionally, revenue from other sources surged over 8X to Rs 23.85 crore in FY24. Snapdeal’s strategic focus on targeted cost-reduction initiatives led to significant expense savings across multiple categories. The company’s spending on employee benefits reduced by 48.5% to Rs 158.4 crore in FY24 from Rs 307.53 crore in FY23. Promotional costs were also reduced by 23.5% to Rs 70.37 crore during the same period. Overall, the Gurugram-based firm’s total expenditure dropped by 21.4% to Rs 540.76 crore in FY24 from Rs 687.93 crore in FY23. The company’s improved performance was visible in the 43.2% reduction of loss to Rs 160.38 crore in FY24. Further, most of this loss seems to be on account of non-cash heads, including the revaluation of a put option held by Unicommerce investors to the tune of Rs 110 crore, leading to an adjusted EBITDA loss of Rs 16 crore, which shows that the company is nearing its target of reaching profitability. As per the filings, Snapdeal reduced its stake in Unicommerce, generating Rs 33 crore from a secondary sale of 3.4% stakes in May/June 2024 prior to the IPO and an offer for sale of 9.2% stake for Rs 81 crore in the IPO completed in August 2024.

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