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Ripplr posts Rs 740 Cr gross revenue in FY23; controls losses

EntrackrEntrackr · 1y ago
Ripplr posts Rs 740 Cr gross revenue in FY23; controls losses
Medial

Ripplr, a tech distribution and logistics platform secured $40 million in May 2023. The substantial funding was driven by its impressive 2.7X growth during the fiscal year ended March 2023. Moreover, the Bengaluru-based company also managed to reduce its losses by 32% in the same period. Ripplr’s gross revenue increased 2.7X to Rs 740 crore in FY23 from Rs 275 crore in FY22, its annual financial statements filed with the Registrar of Companies show. The four-year-old Ripplr offers a plug-and-play distribution network as a service (DaaS) to digitize and manage brand operations. It services over 80,000 tier 2-based retailers having partnerships with FMCG brands like HUL, Britannia, ITC, Nestle, Mondelez, Colgate Reckitt Benckiser, Godrej, Dabur, and Nivea, among others. Goods sales accounted for 89% of Ripplr’s total gross revenue, which surged threefold to Rs 656 crore in FY23. Income from logistics and warehousing were other revenue drivers for Ripplr. See TheKredible for the complete revenue breakdown. Coming over to the cost sheet, the cost of material consumed comprised 77.5% of the overall expenditure. This cost surged 3X to Rs 624 crore in FY23 from Rs 203 crore in FY22. Its employee benefits, rent, transportation, legal, subcontractors, and other overheads took the overall expenditure to Rs 805 crore in FY23 from Rs 285 crore in FY22. View TheKredible for the complete expense breakup. The 2.7X growth and controlled expenditure helped the Fireside Ventures-backed company to reduce its losses by 32% to Rs 62 crore in FY23 from Rs 91 crore in FY22. It’s ROCE and EBITDA margin stood at -29% and -7.4% respectively. On a unit level, it spent Rs 1.09 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -32% -7.4% Expense/₹ of Op Revenue ₹1.04 ₹1.09 ROCE -101% -29% Ripplr has raised over $50 million across rounds including its $40 million in a Series B round led by Fireside Ventures in May last year. According to the data intelligence platform TheKredible, 3One4 Capital is the largest external stakeholder with 17.87% followed byZephyr Peacock India and Sojitz Corporation. Focused on a critical if unloved area of the business, Ripplr’s offerings ensure that clients once onboarded stay for a long time. Considering the level of integration it offers with their distribution for instance with its DMS. That might mean longer sales cycles, but once in, a very sustainable model, intrinsically tied to the growth and well being of its clients. The current scale indicates the quality of headway it has made, which has clearly enthused its investors as well.

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Infra.Market posts Rs 11,846 Cr gross revenue in FY23; remains profitable

EntrackrEntrackr · 1y ago
Infra.Market posts Rs 11,846 Cr gross revenue in FY23; remains profitable
Medial

Construction goods and services platform Infra.Market maintained its growth trajectory with over 9X surge in gross scale during the last two fiscal years, rising from Rs 1,240 crore in FY21 to Rs 11,846 crore in FY23. Despite the hyper-growth, the Mumbai-based company has remained profitable for the past several fiscal years. While the firm’s profit dipped nearly 17% in FY23, Infra.Market’s gross revenue surged 90% to Rs 11,846 crore in the said fiscal year from Rs 6,236 crore in FY22, its consolidated financial statements sourced from the Registrar of Companies show. Infra.Market sells construction materials, infrastructure goods, and technical equipment which accounted for over 96% of its total operating revenue. Collections from these verticals grew nearly 89% to Rs 11,383 crore in FY23 from Rs 6,002 crore in FY22. The company has over 4,000 retail stores with more than 25 exclusive brand outlets across 22 states which is backed by over 100 dedicated manufacturing units. The cost of procurement of materials formed 86% of the overall expenditure. This cost surged 82.1% to Rs 9,974 crore in FY23. As the company hired aggressively to keep up with the growth, its employee benefits grew around 2X to Rs 279 crore in FY23. Infra.Market freight, legal-professional, power-fuel, information technology, and other overheads pushed its total expenditure up by 91.6% to Rs 11,607 crore in FY23 from Rs 6,058 crore in FY22. Check TheKredible for the detailed expense breakup. The notable growth and controlled cost helped Infra.Market to maintain profits which stood at Rs 155 crore during the previous fiscal year. Its ROCE and EBITDA margin stood at 15% and 5.7%, respectively. On a unit level, it spent Rs 0.98 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin 6% 5.7% Expense/₹ of Op Revenue ₹0.97 ₹0.98 ROCE 10% 15% Infra.Market has raised over $500 million across rounds in a mix of equity and debt. According to the startup intelligence data platform TheKredible, Tiger Global is the largest external stakeholder with 21.33% stake followed by Accel and Nexus Ventures which command 16.87% and 8.46% shares, respectively. Head to TheKredible to see the complete shareholding. In the B2B e-commerce (industrial supply) business, Infra.Market competes with the likes of Zetwerk, OfBusiness and Moglix. Zetwerk’s gross revenue from operations grew 130% to Rs 11,448.6 crore in FY23 with a loss of Rs 108 crore. OfBusiness emerged as the largest player in this space with Rs 15,342 crore revenue and Rs 463 crore profit while Moglix reported Rs 4,595 crore in revenue and Rs 193 crore loss in the last fiscal year. With all key players achieving significant balance sheet size on the back of positive PAT or small losses, the segment is set to consolidate, with the possibility of smaller players being absorbed by the top 3 or 4. The category as a whole has enough space to grow, considering the small size of the organised sector and the many emerging opportunities from India’s push to be a manufacturing hub. Players will be willing to bide their time before they seek margin improvement, as they strengthen their positions in their key segments. Be it Zetwerk in say, renewable energy, or construction industry for another etc. Comfortably placed among the top 3, Infra.Market can be expected to continue to deliver healthy topline growth on the back of a fast growing economy in India. Faster bottomline growth or better margins will require a lower share for procurement of materials, something that we believe will not happen quickly.

Amazon India logistics unit posts Rs 4,889 Cr income in FY24

EntrackrEntrackr · 9m ago
Amazon India logistics unit posts Rs 4,889 Cr income in FY24
Medial

Amazon Transportation Services reported a marginal growth in its revenue during the fiscal year ending March 2024. At the same time, the company reduced its losses by over 6% during the same period. AmazonTransport Services aka ATS’s revenue from operations grew 7.6% to Rs 4,888.9 crore in FY24 from Rs 4,543.3 crore in FY23, its standalone financial statement sourced from Tofler shows. Apart from operational income, ATS’s other income spiked 66% to Rs 57.3 crore in FY24 from Rs 34.5 crore in the previous fiscal year. This brought the total income for FY24 to Rs 4,946.2 crore. Amazon Transportation Services provides logistics and delivery solutions, supporting Amazon's e-commerce operations. Its services include order pickup, sorting, and last-mile delivery across India. It makes money via offering aforementioned services to Amazon India. The company’s total expenses excluding depreciation stood at Rs 4,690.8 crore in FY24 from Rs 4,310.2 crore in FY23, marking an 8.8% rise. Depreciation expenses, however, decreased by 10.2%, standing at Rs 313.7 crore for FY24, down from Rs 349.4 crore in FY23. Despite the growth in revenue, ATS managed to reduce its losses by 6.3% to Rs 80.3 crore in FY24 from Rs 85.7 crore in FY23. Its outstanding losses reached Rs 469.8 crore as of the end of FY24. Other equity components, including the share-based compensation reserve, increased 26% to Rs Rs 490.4 crore in the last fiscal year. While ATS’s parent company, Amazon Corporate Holdings continues to support its operations, the persistent losses indicate ongoing challenges in reaching profitability despite YoY revenue growth. In the past five years, Amazon India (through transport services) has expanded its partnership with Indian Railways, increasing from a single train in 2019 to over 120 trains by 2024, now covering 130 intercity routes across 91 cities.

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