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Tata 1mg revenue nears Rs 2,400 Cr in FY25, trims losses

EntrackrEntrackr · 1m ago
Tata 1mg revenue nears Rs 2,400 Cr in FY25, trims losses
Medial

Tata 1mg, the digital healthcare platform backed by Tata Digital, continued its growth trajectory in the fiscal year ending March 2025 while straining its losses. Tata 1mg’s consolidated revenue rose 22% to Rs 2,392 crore in FY25 from Rs 1,968 crore in FY24, according to Tata Sons’ Annual Report for the fiscal year. Tata 1mg is a health tech startup for online orders of allopathic, ayurvedic, homeopathic medicines, vitamins, nutrition supplements, and other health products, delivered to the home. 1mg’s revenue was split across two entities: Tata 1mg Technologies, which clocked Rs 2,016.5 crore, and Tata 1mg Healthcare Solutions, which contributed Rs 375.5 crore in FY25. The company's total cost rose by 17% to Rs 2682 crore in FY25, up from Rs 2303 crore in FY24. The Gurugram-based company posted a consolidated loss of Rs 276 crore in FY25, 12% lower than the Rs 313 crore loss reported in FY24. On a unit basis, the company spent Rs 1.12 to earn a rupee of operating revenue in FY25. On the asset side, Tata 1mg reported total assets of Rs 2,025 crore at the end of FY25 while its total liabilities reached Rs 1,190 crore. In the e-health space, Tata 1mg competes with Reliance-backed Netmeds, PharmEasy, and Apollo 24/7. Tata Digital acquired a 55% stake in 1mg in June 2021 but has since gained around 8.5% additional stake in the e-medicine platform. According to TheKredible, Tata Digital currently holds a 63.5% stake in 1mg, which was last valued at 1.25 billion. Tata Digital reported a standalone revenue of Rs 546.9 crore and a loss of Rs 827.5 crore in FY25, indicating continued investment in its digital commerce bets including 1mg and other verticals such as BigBasket, Cult.fit, and the recently launched Tata Neu.

Astroyogi surpasses Rs 85 Cr revenue in FY24 with sound economics

EntrackrEntrackr · 6m ago
Astroyogi surpasses Rs 85 Cr revenue in FY24 with sound economics
Medial

Astroyogi surpasses Rs 85 Cr revenue in FY24 with sound economics Astroyogi’s revenue from operations grew to Rs 84.3 crore in FY24 from Rs 66.7 crore in FY23, its annual financial statements sourced from the Registrar of Companies (RoC) show. The online astrology sector has been experiencing rapid growth in recent years, and bootstrapped firm Astroyogi is no exception. The Gurugram-based company reported a 26.3% year-on-year revenue increase in the last fiscal year while maintaining strong unit economics. Astroyogi’s revenue from operations grew to Rs 84.3 crore in FY24 from Rs 66.7 crore in FY23, its annual financial statements sourced from the Registrar of Companies (RoC) show. Astroyogi is a digital astrology consultancy platform that connects users with professional astrologers through its mobile and web apps. In FY24, online consultancy services generated 98.3% of the company’s total operating revenue, amounting to Rs 82.9 crore. The remaining revenue came from product sales through its YogiStore. Notably, revenue from overseas markets contributed 27.2% of Astroyogi’s total operating revenue. The firm also generated Rs 1.08 crore from interest and investment gains, bringing its overall income to Rs 85.3 crore for the fiscal year ending March 2024. Similar to other online astrology firms, content and astrology fees given to astrologers/cartomancers were the largest cost center for Astroyogi, accounting for 46.5% of the overall expenses. To the tune of scale, this cost increased by 23% to Rs 39.7 crore in the last fiscal year. Its spends and employee benefits shot up by 33% and 29%, respectively, to Rs 24 crore and Rs 12.5 crore in FY24. The overall cost of the company grew by 28% to Rs 85.3 crore in FY24. Despite the growing scale, increased advertising expenses for the bootstrapped firm impacted the company's profits before tax, which fell to Rs 31,000 in FY24, down from Rs 2.1 crore in FY23. On a unit level, it spent Rs 1.01 to earn a rupee during the last fiscal year. The company directly competes with AstroTalk which targets Rs 1,250 crore revenue in FY25 and registered 651 crore revenue with a hefty Rs 100 crore profits in FY24, and InstaAstro, which is in talks to be acquired by Flipkart and posted Rs 25 crore revenue in FY24. The boom in astrology services has seen business models evolve, and that in turn continues to put pressure on firms to get more out of every customer. With the kind of pay per minute models most have gone with, it is only a matter of time before newer, more dedicated offerings emerge. While we are not privy to details, it’s a safe bet to assume that the Pareto principle will be at work in these firms too, with 20% of customers possibly generating 80% of revenues. While that has already meant some star astrologers seeking to build their own followings independently, it could lead to the inevitable fight for ‘top-tier’ talent soon. As one of the few categories where profits have flowed quickly, it should be interesting to see how these firms evolve in the coming months and years.

Chairing Tata: How RNT set the leadership benchmark for his successors

LivemintLivemint · 10m ago
Chairing Tata: How RNT set the leadership benchmark for his successors
Medial

- The Tata group has been a cornerstone of Indian industry for over a century, with leaders such as J.R.D. Tata, Ratan Tata, and N. Chandrasekaran leaving a lasting impact on its trajectory. - J.R.D. Tata's 53-year tenure as chairman shaped the foundation and culture of the Tata group, while Ratan Tata and N. Chandrasekaran adapted to the challenges of their time. - Ratan Tata played a significant role in consolidating and strengthening the business empire, asserting authority over powerful leaders within the group. - Under Ratan Tata's leadership, the Tata group expanded its market reach globally through strategic acquisitions, including Tetley, Corus, and Jaguar Land Rover. - Cyrus Mistry, as Ratan Tata's successor, aimed to fix perceived flaws within the group, but his tenure was cut short due to conflicts and disagreements with Ratan Tata. - N. Chandrasekaran, known for his role in the success of Tata Consultancy Services, took on the challenge of continuing the group's progress while embracing technological advancements and addressing legacy concerns.

Loom Solar surpasses Rs 150 Cr revenue in FY24, profits triple

EntrackrEntrackr · 5m ago
Loom Solar surpasses Rs 150 Cr revenue in FY24, profits triple
Medial

Solar energy solutions provider Loom Solar has achieved around three-fold growth in its operating revenue during the last fiscal year. The Faridabad-based company also tripled its profit in FY24. Loom Solar’s revenue from operations soared by 2.9X to Rs 151.5 crore in the fiscal year ending March 2024 from Rs 53 crore in FY23, as per its financial statements sourced from the Registrar of Companies (RoC). Loom Solar is a direct-to-consumer solar energy firm that manufactures and sells solar panels, inverters, batteries, and other solar products. Its entire collection in FY24 came from the sale of these products. The cost of materials was the largest expense for Loom Solar, surging by 192.9% to Rs 123 crore in FY24. Employee benefit costs also kept pace, growing 150% to Rs 5 crore. Meanwhile, transportation expenses rose by 181% to Rs 4.5 crore, alongside Rs 7.5 crore booked under other operational expenses. Overall, the company's total expenses jumped 2.7X to Rs 140 crore in the last fiscal year from Rs 51 crore in FY23. Despite the rising costs, Loom Solar's focus on cost efficiency and revenue expansion led to a net profit rising by 3X to Rs 9 crore in FY24. The company's Return on Capital Employed (ROCE) and EBITDA margin improved to 37% and 9.31%, respectively. On a per-unit basis, Loom Solar spent Re 0.92 to earn a rupee of operating revenue during the past fiscal. Loom Solar recorded current assets worth Rs 49 crore, which includes Rs 16 crore of cash and bank balance in FY24. It has raised $2 million of funding to date, with Social Investment Managers & Advisors as its lead investors. Backed by a young founding team of brothers Amol and Amod Anand, Loom Solar has focused on selling much smaller solar systems in rural areas and tier 2 and 3 cities, where tight costs control and higher margins provided it the fuel to keep investing in growth. The firm has been among the earliest to use E-commerce platforms like Amazon to drive sales and awareness. At Rs 150 crores, the firm is at an inflection point with great insights into the markets it serves. As growth moves to the next level, it remains to be seen if its scrappy grit and resilience will carry it to possibly Rs 500 crores by 2026-27. Knowing the history of the firm, they will certainly not aim any lower than that, pulling out more than a few innovations and marketing surprises along the way.

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