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Park+ posts Rs 175 Cr revenue in FY25; losses remain flat

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Park+ posts Rs 175 Cr revenue in FY25; losses remain flat
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Park+, the digital services platform for car owners, maintained its consistent growth trajectory during the last fiscal year ending March, 2025. Moreover, the losses for the Gurgaon-based company remained flat during the same period. Operating revenue of Park+ grew 34% to Rs 175 crore in FY25 from Rs 131 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). Founded by Amit Lakhotia, Park+ provides car cleaning, parking solutions for homes, malls, and offices, fine (challan) payments, insurance management, and car service. It also expanded into ancillary offerings like FASTag issuance and EV charging networks. The sale of services, which includes commissions of FASTags, rental of access control, valet service, and parking formed 80% of the total operating income which increased by 35% to Rs 140 crore in FY25. The rest of the collections came from the sale of products such as access control, FASTtag, radio frequency tag, and others. On the cost side, employee benefits remained the largest expense, which accounted for nearly 40% of the total expenses, rising 12% to Rs 113 crore in FY25 from Rs 101 crore in FY24. The cost of materials increased 21% to Rs 70 crore, while depreciation doubled to Rs 12 crore. Expenses declined by 15% to Rs 23 crore, while other expenses added the rest of Rs 37 crore. Overall, total expenses grew 17% to Rs 286 crore in FY25 from Rs 245 crore in FY24. Park+ reported flat loss at Rs 105 crore in FY25 as compared to Rs 103 crore in FY24. Its ROCE and EBITDA margin stood at -124.14% and -54.86% respectively. On a unit basis, the company spent Rs 1.63 to earn a rupee of operating revenue during the year. As of March 2025, Park+ reported cash and bank balances of Rs 62 crore, while its current assets stood at Rs 160 crore in the same period. According to TheKredible, Park+ has raised a total of $53 million of funding to date, having Peak XV Partners, Matrix Partners, and Epiq Capital as its lead investors.

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FreshToHome posts Rs 421 Cr revenue in FY25; losses remain stable

EntrackrEntrackr ยท 16d ago
FreshToHome posts Rs 421 Cr revenue in FY25; losses remain stable
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FreshToHome posts Rs 421 Cr revenue in FY25; losses remain stable FreshToHome, a D2C meat and seafood brand, recorded a marginal improvement in its financial performance in the fiscal year ending March 2025. The company managed to grow its scale while keeping its loss stable in the period. FreshToHomeโ€™s gross revenue increased 14% to Rs 421 crore in FY25 from Rs 369.5 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 meat, seafood and other fresh produce across its platform. Including non-operating income of Rs 9 crore, its total income stood at Rs 430 crore in FY25. The cost of material consumed remained the largest expense element for the Bengaluru-based company, forming over 83% of total expenditure. This cost grew 5% to Rs 481 crore in FY25 from Rs 458 crore in FY24. Employee benefit costs increased 10% to Rs 33 crore, while advertising and promotional expenses declined 37% to Rs 14.5 crore during the year. Subscription costs remained flat at Rs 8 crore. Other overheads more than doubled to Rs 33.5 crore in FY25. Overall, FreshToHomeโ€™s total expenditure went up by 6% to Rs 576 crore in FY25 from Rs 542 crore in FY24. At the bottom line, FreshToHome reported a net loss of Rs 146 crore in FY25, compared to Rs 150 crore in FY24, representing a modest 2.7% reduction in losses. Its ROCE and EBITDA margin stood at -107.64% and -36.58% respectively. On a unit level, the company spent Rs 1.37 to earn a rupee, improving from Rs 1.47 it spent in FY24. The firm recorded cash and bank balances of Rs 42 crore, while its current assets were valued at Rs 73.5 crore at the end of FY25. According to TheKredible, FreshToHome has raised over $320 million of funding to date. In the last round, FreshToHome raised $104 million in its Series D funding, led by Amazon Smbhav Venture Fund.

Cult.fit posts Rs 1,216 Cr revenue and Rs 481 Cr loss in FY25

EntrackrEntrackr ยท 1m ago
Cult.fit posts Rs 1,216 Cr revenue and Rs 481 Cr loss in FY25
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Fintrackr All Stories Cult.fit posts Rs 1,216 Cr revenue and Rs 481 Cr loss in FY25 Fitness tech company Cult.fit reported over 31% year-on-year growth in operating revenue for the fiscal year ended March 2025, while its losses narrowed by 10% to Rs 481 crore during the period. Mukul Manchanda 15 Dec 2025 16:06 IST Fitness tech company Cult.fit reported over 31% year-on-year growth in operating revenue for the fiscal year ended March 2025, while its losses narrowed by 10% to Rs 481 crore during the period, as the company gears up for an initial public offering (IPO). Cult.fit reported an operating revenue of Rs 1,215.5 crore in FY25 compared to Rs 926.6 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Revenue from fitness subscriptions, including flagship offerings such as Cultpass, Cult.fit centres, and platform services, accounted for 73% of total revenue which increased by 32.7% year-on-year to Rs 889 crore in FY25. The sale of products, including sportswear for men and women as well as other gym and fitness products, contributed Rs 326.4 crore to total revenue, with the segmentโ€™s revenue rising 27% compared to FY24. Cult.fit also earned Rs 56.5 crore from other income, including interest on current investments and miscellaneous non-operating sources, taking its total revenue to Rs 1,272 crore in FY25. Coming to expenses, employee benefit costs remained largely flat at Rs 347.4 crore in the last fiscal, including Rs 99.5 crore ESOP expenses. Meanwhile, Cult.fitโ€™s cost of materials rose 31% year-on-year to Rs 521.5 crore in FY25, accounting for nearly 30% of the companyโ€™s overall expenses and remaining its largest cost centre. Spending on advertising and promotional expenses remained flat at Rs 202.9 crore in FY25, while depreciation and amortisation costs increased 12% year-on-year to Rs 237.6 crore. Legal and professional expenses, along with finance costs, added another Rs 120.9 crore and Rs 109.5 crore, respectively, to the companyโ€™s total expenses. Information technology, travel and other miscellaneous expenses pushed overall costs up by 12% year-on-year to Rs 1,751.6 crore in FY25. In the end, the Bengaluru-based firmโ€™s losses declined by 10% to Rs 480.8 crore in FY25. Its ROCE and EBITDA margins stood at -24.02% and -15.54% respectively whereas its EBITDA (loss) stands at Rs 189 crore in the period. Cult.fit managed to improve its expense-to-earning ratio to Rs 1.44 in the previous fiscal. Its current assets stood at Rs 1,029.5 crore with a cash and bank balance of Rs 240.7 crore in FY25. According to startup data intelligence platform TheKredible, Cult.fit has raised over $675 million to date from investors including Accel, Temasek, Eternal (Zomato), Tata Digital and several others. The Tata Digital-backed company is reportedly aiming to raise Rs 2,500 crore through an initial public offering (IPO) at a valuation of around $2 billion, and has appointed Axis Capital, Jefferies, Goldman Sachs, Morgan Stanley and JM Financial as its bankers.

Ather Energy posts Rs 645 Cr revenue in Q1 FY26, losses remain flat

EntrackrEntrackr ยท 5m ago
Ather Energy posts Rs 645 Cr revenue in Q1 FY26, losses remain flat
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Ather Energy posts Rs 645 Cr revenue in Q1 FY26, losses remain flat Ather Energy reported a 79% year-on-year jump in its operating revenue compared to Q1 FY25. At the same time, the Bengaluru-based firm also narrowed losses by 3%. Electric two-wheeler maker Ather Energy has announced its financial results for the first quarter of the ongoing financial year FY26. The company reported a 79% year-on-year jump in its operating revenue compared to Q1 FY25. At the same time, the Bengaluru-based firm narrowed losses by 3%. Atherโ€™s revenue from operations increased by 79% to Rs 645 crore in Q1 FY26, from Rs 360 crore in Q1 FY25, according to its quarterly report sourced from the National Stock Exchange (NSE). The Tarun Mehta-led company did not provide a revenue breakdown during the last quarter. Atherโ€™s cost of materials, primarily driven by battery and component procurement, made up the largest share of its expenditure. This cost increased by nearly 74% to Rs 518 crore in Q1 FY26 from Rs 297 crore in the same period last year, accounting for over 61% of the total expenses during the quarter. Employee benefit expenses saw a surge of 37% YoY to Rs 119 crore in Q1 FY26 compared to Rs 87 crore in Q1 FY25. Depreciation and amortization costs rose 20% to Rs 48 crore, while other operational costs jumped nearly 31% to Rs 166 crore. Overall, Atherโ€™s total expenditure grew 54% to Rs 851 crore in Q1 FY26, up from Rs 551 crore in Q1 FY25. As a result, the companyโ€™s net losses reduced by 3% to Rs 178 crore in Q1 FY26 from Rs 183 crore in Q1 FY25. In July 2025, Ather Energy maintained its fourth-place market position, selling 16,231 units. This represents a 10.59% month-on-month increase from the 14,677 units sold in June, bringing their market share to 15.78%. Ather Energy made its stock market debut on May 6, 2025, listing at Rs 328 per share on the NSE. However, the stock is currently trading at Rs 375, bringing its total market capitalization to Rs 13,723 crore ($1.5 billion). Ather competitor Ola Electricโ€™s topline shrank by nearly 50% year-on-year during the first quarter of FY26. At the same time, the Bengaluru-based firmโ€™s losses widened by 23%.

Curefoods posts Rs 746 Cr revenue in FY25, dessert-led income grows 95%

EntrackrEntrackr ยท 6m ago
Curefoods posts Rs 746 Cr revenue in FY25, dessert-led income grows 95%
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Curefoods posts Rs 746 Cr revenue in FY25, dessert-led income grows 95% Cloud kitchen brand Curefoods has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The move follows the companyโ€™s FY25 financial performance, where it reported a revenue of Rs 746 crore and a loss of Rs 170 crore, according to its balance sheet. Curefoods' operating revenue increased by 28% to Rs 746 crore in FY25 from Rs 585 crore in FY24, while its losses remained flat in the last fiscal year. Curefoods operates a multi-brand cloud kitchen business across categories like Indian meals, pizza, desserts, and health-focused food. In FY25, desserts led revenue with Rs 196 crore, followed by pizza (Rs 183 crore), Indian meals (Rs 178 crore), and healthy meals (Rs 176 crore). While desserts and pizza grew 18% and 95% YoY, respectively, the healthy segment declined by 13%. The Bengaluru-based company added Rs 29 crore from interest on financial assets which pushed its total income to Rs 775 crore in FY25. On the expense side, the cost of materials accounted for the largest share at Rs 273 crore, followed by employee benefit expenses at Rs 180 crore and commissions at Rs 137 crore. Advertising costs jumped significantly by over 64% to Rs 87 crore. Overall, the companyโ€™s total expenditure stood at Rs 944 crore in FY25, rising by 17% from Rs 807 crore in FY24. Despite the revenue growth, Curefoodsโ€™ loss remained flat at Rs 170 crore in FY25 from Rs 173 crore in FY24. Its ROCE and EBITDA margin stood at -19% and -7.5%, respectively. On a unit level, the company spent Rs 1.27 to earn a rupee of operating revenue in FY25. As of March 2025, the Ankit Nagori-led company had current assets worth Rs 339 crore in FY25, including Rs 80 crore in cash and bank balances. Curefoodsโ€™ founder Nagori is entitled to an annual fixed remuneration of Rs 3 crore (inclusive of perquisites and retirement benefits) and an annual variable bonus of up to 20% of his remuneration. Curefoodsโ€™ operational performance improved in FY25, with average daily sales rising to Rs 2 crore from Rs 1.5 crore in FY24, amid strong consumer demand across its brands. Among its 10 key brands, Sharief Bhai, EatFit, and CakeZone led revenue with Rs 148 crore, Rs 145 crore, and Rs 102 crore, respectively. The company also added new revenue streams through the launch of Krispy Kreme operations in South, West, and North India, with Rs 15 crore in revenue in FY25 after acquiring the franchise rights. The improving numbers certainly indicate a level of maturity for the business, prompting the move to go public as well. However, risks remain, particularly in the performance of the โ€˜Healthy Foodsโ€™ segment and now, the Krispy Kreme franchise, which has not quite delivered in India, and continues to face a tough challenge to crack the local market. Curefoods and its multi-brand approach remains to be tested, especially with profits still distant, and H1 of FY26 will probably be a good time to evaluate if the firm has discovered a path to profitability.

Cashfree posts Rs 640 Cr revenue in FY25, losses rise 14%

EntrackrEntrackr ยท 3m ago
Cashfree posts Rs 640 Cr revenue in FY25, losses rise 14%
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Fintrackr All Stories Cashfree posts Rs 640 Cr revenue in FY25, losses rise 14% Cashfree struggled with growth in FY25, even after the Reserve Bank of India removed merchant onboarding restrictions for leading companies. State Bank of India-backed Cashfree is no exception, as the firmโ€™s operating scale remained flat in FY25. Cashfree reported an operating revenue of Rs 640 crore in FY25 against Rs 643 crore in FY24, according to the companyโ€™s consolidated financial statements filed with the Registrar of Companies (RoC). Founded in 2015 by Akash Sinha and Reeju Datta, Cashfree provides businesses with a fast and easy way to collect payments online, make payouts, improve conversions, and verify identity and detect fraud during KYC and onboarding. The company claims to enable large businesses to process 12,000 transactions per second during peak demand. The revenue breakup for FY25 shows payment gateway commissions accounted for 75% of the operating revenue at Rs 481 crore. Payout commissions added another Rs 55 crore, while commission income from other services contributed the rest Rs 103 crore. With other income of around Rs 1 crore, the Bengaluru-based company posted a total income of Rs 641 crore in the last fiscal year. On the expense side, payment gateway processing cost accounted for 53% of the total expense, decreasing by 2% to Rs 419 crore in FY25 from Rs 427 crore in FY24. The companyโ€™s other key expense items include employee benefits, marketing, and technology investments. Its marketing expenses notably surged 150% to Rs 20 crore in FY25. The firmโ€™s employee benefits costs remained flat at Rs 243 crore in FY25 compared to Rs 245 crore in FY24. Depreciation, finance cost and other overheads added another Rs 80 crore to the rising expenses. In the end, Cashfreeโ€™s total costs increased 2% to Rs 795 crore from Rs 779 crore last year. Although top-line performance remained stable, the companyโ€™s net loss widened 14% to Rs 154 crore from Rs 135 crore in the previous fiscal. Its EBITDA loss increased to Rs 132 crore, pushing the EBITDA margin down to -20.63% from -17.42% the previous year. In the coming year, Cashfree is expected to reduce its marketing expenses to lower losses and strengthen its financial position in FY26. The ban on real money gaming platforms is also expected to affect the business of payments firms including Cashfree significantly in the ongoing fiscal year. Ahead of FY26, Cashfree raised $53 million in a round led by Krafton, marking its first funding in nearly four years. Overall, the company has raised $95 million from investors including Y Combinator, Smilegate Investments, and the State Bank of India.

Peak XV-backed BankBazaar posts Rs 249 Cr revenue in FY25; cuts losses

EntrackrEntrackr ยท 11d ago
Peak XV-backed BankBazaar posts Rs 249 Cr revenue in FY25; cuts losses
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Peak XV-backed BankBazaar posts Rs 249 Cr revenue in FY25; cuts losses Online financial marketplace BankBazaar reported a 33% year-on-year increase in revenue for the fiscal year ended March 2025, while also reducing losses during the same period. BankBazaarโ€™s operating revenue grew to Rs 249 crore in FY25 from Rs 187 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). BankBazaar is a co-branded credit card issuer which lets you check your credit score and cross-sells third-party loans as well as other insurance products. The commission earned from the banks on the disbursal of loans was the sole source of revenue for the firm. Including non-operating income of Rs 5 crore, BankBazaarโ€™s total income stood at Rs 254 crore during FY25 from Rs 188 crore in the previous fiscal. In a media interview last year, BankBazaar CEO Adil Shetty said the company earned about Rs 210 crore in recurring revenue from co-branded credit card distribution and had refocused on credit card distribution and a subscription business for credit health monitoring. The financial statements of BankBazaar have not given a detailed breakdown of the expenses, as the company recorded Rs 165 crore under operating expenses, which makes 59% of the total expenses. This cost rose 65% to Rs 165 crore in FY25 from Rs 100 crore in FY24. Employee benefit expenses declined 8% to Rs 61 crore, while advertising spend remained flat at Rs 14 crore. Finance cost rose 40% to Rs 14 crore. Overall, total costs increased 29% to Rs 278 crore in FY25 from Rs 215 crore in FY24. BankBazarโ€™s net loss decreased by 13% to Rs 23 crore in FY25 from Rs 26.5 crore in FY24. Its ROCE and EBITDA margin stood at -9.86% and -4.42%, respectively. On a unit level, BankBazaar spent Rs 1.12 to earn a rupee of operating revenue during FY25. The companyโ€™s current assets stood at Rs 140 crore including Rs 11 crore as cash and bank balances, during FY25. According to TheKredible, BankBazaar has raised a total of $133 million of funding to date, having Peak XV, Amazon and Walden International as its lead investors.

Coding Ninjas posts Rs 67 Cr revenue in FY25; losses fall 41%

EntrackrEntrackr ยท 3m ago
Coding Ninjas posts Rs 67 Cr revenue in FY25; losses fall 41%
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Coding Ninjas posts Rs 67 Cr revenue in FY25; losses fall 41% After posting flat revenue growth during FY24, Info Edge-backed edtech platform Coding Ninjas demonstrated 26.4% year-on-year growth in its operating revenue in the last fiscal year. Significantly, the Gurugram-based company managed to cut its losses by 41% in FY25. Coding Ninjasโ€™ revenue from operations grew to Rs 67 crore in FY25 from Rs 53 crore in FY24, the companyโ€™s annual filing sourced from the Registrar of Companies (RoC) shows. Founded in 2016 by Ankush Singla, Kannu Mittal, and Dhawal Parate, Coding Ninjas provides online educational and coaching services to engineering students, including training in programming languages such as C++, Java, and Python, as well as other skills such as machine learning, web development, and data science. Income from online coaching services was the sole source of revenue for Coding Ninjas in the last fiscal year. According to its financial statements, the company expanded its course portfolio during the year through collaborations with premier institutions and universities. On the cost side, the company managed to cut expenses by 9% in the said period. Its employee benefits decreased by 18.5% to Rs 44 crore, while promotion expenses stood steady at Rs 28 crore. With 26% year-on-year revenue growth, the firmโ€™s losses reduced by 41.2% to Rs 30 crore in FY25 from Rs 51 crore in FY24. However, its accumulated losses over its lifetime reached Rs 151.5 crore in FY25. According to Entrackrโ€™s analysis of its annual report, the firm had total current assets of only Rs 17 crore, including cash and bank balances of Rs 7.5 crore. Importantly, its total current liabilities exceeded its current assets by Rs 24.7 crore, which could be a cause for concern. As per the startup data intelligence platform TheKredible, Info Edge is the only external investor in the company and has poured in around Rs 178 crore (about $22 million) across three funding rounds. In October 2022, Info Edge increased its stake from 26% to 51% in Coding Ninjas with an investment of Rs 135.4 crore ($17 million). Coding Ninjas competes with platforms like Scaler, Masai School, and Newton School, along with Coding Blocks, GUVI, Udemy, and Coursera. These rivals offer courses for beginners, job-ready bootcamps, and advanced programs.

Medibuddy posts Rs 725 Cr revenue in FY25, narrows losses by 37%

EntrackrEntrackr ยท 26d ago
Medibuddy posts Rs 725 Cr revenue in FY25, narrows losses by 37%
Medial

MediBuddy posts Rs 725 Cr revenue in FY25, narrows losses by 37% Following more than 2X growth in the fiscal year ending March 2024, digital healthcare platform MediBuddy reported modest growth in its operating scale in FY25, while managing to narrow its losses by 37% during the period. MediBuddy's operating revenue grew 12.3% year-on-year to Rs 724.6 crore in FY25 from Rs 645.4 crore in the previous fiscal year (FY24), according to the company's annual financial statements filed with the Registrar of Companies (RoC). MediBuddy, a digital healthcare platform, provides online and offline medical consultations, medicine delivery, lab tests, surgeries, and insurance services, with revenue from these forming the primary source of income at Rs 722 crore, supplemented by Rs 2.5 crore from other operating sources. The company also earned Rs 18.42 crore from non-operating sources, including interest on fixed deposits and current investments, written-off liabilities, and other miscellaneous income, pushing its total income to Rs 743 crore in FY25. On expenses, the cost of materials was the largest at 38% of total expenses, standing at Rs 333 crore. Employee benefits expenses rose marginally by 8% to Rs 176.8 crore, including Rs 6 crore in ESOP expenses. Sales payout expenses, including commissions to selling agents, fell 7% to Rs 155.47 crore. The company spent Rs 42.5 crore on safety and security and Rs 32.5 crore on IT. Other overheads, including legal and professional fees, advertising, depreciation and amortization, and finance costs, amounted to Rs 138.7 crore. Overall expenses for the Bengaluru-based firm remained flat at Rs 879 crore, with controlled expenditure and a 12% rise in revenue helping to narrow losses by 37% to Rs 137 crore from Rs 215.7 crore in FY24. On a unit basis, MediBuddy spent Rs 1.21 to earn one rupee of operating revenue, with its EBITDA margin improving to -14.19% in FY25 from -25.67% in the previous year, resulting in an EBITDA loss of Rs 103 crore. As of March 2024, MediBuddy's current assets were Rs 395.2 crore, including cash and bank balances of Rs 80 crore. MediBuddy has raised over $190 million to date, last raising $18 million in August 2023 from existing investors Quadria Capital, Lightrock, and TEAMFund. It competes with companies including Pristyn Care-owned Lybrate, Practo, and mFine Tata 1mg.

Zetwerkโ€™s GMV slips 11% in FY25; posts Rs 371 Cr loss

EntrackrEntrackr ยท 6d ago
Zetwerkโ€™s GMV slips 11% in FY25; posts Rs 371 Cr loss
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B2B e-commerce unicorn Zetwerk, which is reportedly preparing to file for an initial public offering (IPO), saw its revenue decline in FY25. Despite the slowdown in the top line, the company managed to reduce its losses during the same period. Zetwerkโ€™s gross revenue fell 11% to Rs 12,798 crore in FY25 from Rs 14,443 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Zetwerk is a B2B manufacturing and construction marketplace. The company derives its revenue primarily from trading activities, manufacturing services, and construction and project contracts. Revenue from trading activities, which accounted for 58% of the income, declined 20% to Rs 7,706 crore in FY25. In contrast, revenue from manufacturing services grew 33.5% to Rs 2,682 crore. Income from construction and project contracts slipped 19% to Rs 2,242 crore, while other income stood at Rs 535 crore in FY25. Including non-operating income, Zetwerkโ€™s total income stood at Rs 12,981 crore in FY25, compared to Rs 14,612 crore in FY24. On the expense side, the cost of materials accounted for over 85% of the total expense. This cost declined 17% to Rs 11,232 crore in FY25 from Rs 13,467 crore in FY24. Employee benefit expenses, however, rose 12% to Rs 517 crore, while subcontracting expenses increased 16% to Rs 250 crore. Finance costs remained largely flat at Rs 450 crore, and other expenses added another Rs 670 crore during the year. Overall, Zetwerk reduced its total expenses by 12% to Rs 13,196 crore in FY25 from Rs 15,001 crore in FY24. As a result, its expense-to-revenue ratio improved marginally to 1.03 from 1.04 a year earlier. With GMV declining, procurement costs came down accordingly, and coupled with a sharp drop in exceptional items, the company reduced its losses by 60% to Rs 371 crore in FY25 from Rs 918 crore in FY24. However, the company posted a positive EBITDA of Rs 145 crore in the same period. Its ROCE and EBITDA margin improved to -0.68% and 1.13% respectively. On the balance sheet front, Zetwerkโ€™s cash and bank balances rose sharply to Rs 1,908 crore in FY25 from Rs 1,150 crore a year earlier. The company reported current assets worth Rs 7,840 crore in the same period. According to TheKredible, Zetwerk has raised a total of $889 million of funding till date, having Greenoaks, Peak XV Partners, Lightspeed Venture Partners and Accel as its lead investors. In April last year, Zetwerk had indicated that it was targeting a public listing within a 12 to 24 month period. The company is expected to file its draft prospectus this year through the confidential route for its $750 million IPO, which would be among the larger public market debuts by an India-based manufacturing company.

Wow! Momo posts Rs 470 Cr revenue and Rs 114 Cr loss in FY24

EntrackrEntrackr ยท 10m ago
Wow! Momo posts Rs 470 Cr revenue and Rs 114 Cr loss in FY24
Medial

Wow! Momo saw 14% growth in operating revenue in FY24, it fell far short of the 88% year-on-year surge recorded in FY23, indicating a slowdown in growth. However, the Tiger Global-backed firm managed to keep its losses stable, remaining flat for the fiscal year ending March 2024. Wow! Momoโ€™s revenue from operations grew to Rs 470 crore in the last fiscal year from Rs 413 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies show. Launched in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo Foods operates three QSR brandsโ€”Wow Momo, Wow China, and Wow Chicken. The company claims to have a network of 630 outlets across 35 cities and a workforce of 6,000 employees. Revenue from the sale of momos, food, and beverages contributed 97% of the total operating income, which grew by 11.5% to Rs 456 crore in FY24. The remaining revenue came from frozen momo sales. Wow! Momo also added Rs 9 crore from interest on deposits, bringing the overall revenue to Rs 479 crore in the last fiscal year. For the QSR firm, the cost of material procurement formed 26.6% of total expenditure, increasing 15.3% to Rs 158 crore in FY24 in line with revenue growth. Employee benefit expenses declined 27.7% to Rs 120 crore in the previous fiscal year. Expenses related to power/fuel, rent, advertising, commissions, finance costs, and other overheads contributed to a 11.9% rise in total expenditure, reaching Rs 593 crore in FY24. The 13.8% increase in scale, along with controlled expenses, helped Wow! Momo maintain steady losses at Rs 114 crore in FY24. Its ROCE and EBITDA margin stood at -8.33% and 7.93%, respectively, with an expense-to-revenue ratio of Rs 1.26. By the end of FY24, Wow! Momo's total current assets were recorded at Rs 250 crore, including Rs 175 crore in cash and bank balances. Wow! Momo has raised over Rs 600 crore to date, including $42 million (Rs 350 crore) in its Series D led by Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia. According to the startup data intelligence platform TheKredible, Tiger Global is the largest external stakeholder followed by Treeline Investment. Wow! Momo is reportedly aiming for Rs 650 crore in revenue in FY25 with improved unit economics and has its sights set on going public in 2027.

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