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

EntrackrEntrackr · 8m 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.

Heads Up For Tails posts flat scale in FY23; losses mount 5X

EntrackrEntrackr · 1y ago
Heads Up For Tails posts flat scale in FY23; losses mount 5X
Medial

Pet care brand Heads Up For Tails struggled to grow in FY23. While the firm’s scale grew mere 2%, its losses blew 5X in the same period. This happened as its expenses on marketing and employee benefits rose sharply in the fiscal year ending March 2023. Heads Up For Tails’ revenue from operations grew to Rs 140 crore in FY23 from Rs 138 crore in FY22, its consolidated financial statements filed by the group company Sara Global Pte. Ltd. in Singapore show. For context, the Rashi Narang-led company achieved 85% year-on-year growth during FY22. Heads Up For Tails offers 13,000 pet products with over 250 brands on its platform including its own labels. The company claims to have a presence in more than 18 cities with over 90 stores and 65 pet spas. The sale of pet products comprised 96.7% of overall revenue which increased 3.4% to Rs 135.42 crore in FY22. Advertising, warehousing, and logistics were some other revenue drivers for Heads Up For Tails. See TheKredible for the complete revenue breakdown. Importantly, 93% of its revenue originated from domestic sales while the rest of the income came from outside India. It’s worth mentioning that the consolidated financial statements represent the group picture including its subsidiaries: Barkyard Private Limited and Precious Pet Services Private Limited. Coming to the expense side, the cost of procurement accounted for 55.59% of the overall expenditure which increased by 15% to Rs 118 crore in FY23. Heads Up For Tails’ burn on employee benefits, freight, marketing (advertising cum business promotion), professional charges, software, and other overheads took its overall expenditure up by 38.8% to Rs 212 crore in FY23 from Rs 153 crore in FY22. Head to TheKredible to see the complete expense breakup. Expense Breakdown Total ₹ 153 Cr https://thekredible.com/company/heads-up-for-tails/financials View Full Data To access complete data, visithttps://thekredible.com/company/heads-up-for-tails/financials Total ₹ 212 Cr https://thekredible.com/company/heads-up-for-tails/financials View Full Data To access complete data, visithttps://thekredible.com/company/heads-up-for-tails/financials Procurements of goods Procurements of goods Employee benefits Employee benefits Freight Freight Advertising and business promotion Advertising and business promotion Professional charges Professional charges Website and software Website and software Others To check complete Expense Breakdown visit thekredible.com View full data The flat scale and 39% surge in the total cost led Heads Up For Tails to bleed heavily and its losses reached Rs 71 crore in FY23 compared to Rs 14 crore in FY22. Its ROCE and EBITDA margin worsened to -25% and -43.8% respectively. On a unit level, it spent Rs 1.52 to earn a rupee. The company has raised around $40 million including its $37 million Series A round led by Peak XV and Verlinvest in 2o21. It competes with Supertails, Zigly, PetSutra, Wiggles, and most recently perhaps, Drools. FY22-FY23 FY22 FY23 EBITDA Margin -5% -43.8% Expense/₹ of Op Revenue ₹1.11 ₹1.52 ROCE -6% -25% The 2.5x jump in marketing costs is just one indicator of how competitive intensity in the pet care segment has grown. For Heads Up For Tails, it has come a little too early, as another strong year of growth would have placed it much better to take on competition. Now, it faces the unenviable task of getting back to a growth path without burning a hole in the books. There is every chance of investors seeking some consolidation in the otherwise growing segment , and its losses leave Heads Up For Tails vulnerable to just such an approach. Watch this space to see the last tail wagging.

Waycool posts Rs 1,251 Cr revenue and Rs 686 Cr loss in FY23

EntrackrEntrackr · 11m ago
Waycool posts Rs 1,251 Cr revenue and Rs 686 Cr loss in FY23
Medial

B2B food and agritech platform Waycool claims Rs 1,600 crore in revenue with the goal of operational break even in FY24. While the company is yet to release its financial statements for FY24, it recently disclosed its results for the fiscal year ending March 2023 after an 11-month delay. Entrackr has sifted through the firm’s regulatory filings to understand its financial health in FY23. Waycool’s revenue from operations grew by 62% to Rs 1,251 Crore in FY23 from Rs 772 Crore in FY22, its consolidated financial statements sourced from the Registrar of Companies show. The difference in the revenue figures for FY22 was due to the adoption of IND AS by the company. The firm reported Rs 927 crore revenue in FY22. Waycool is a full-stack supply chain player working with farmers and clients who source agricultural and dairy products from the company. The company has its 7 own consumer brands namely Madhuram, KitchenJi, DeziFresh, AllFresh and others. The collection from the sale of goods formed 98% of the total operating revenue which surged 60% to Rs 1,228 crore in FY23. Out of the total sale of goods, the finished goods ( the sale of its own brands) contributed 10% only while the rest of the sales came from traded goods. Income from commissions and cold storage management were some co-revenue drivers for Waycool. The company also added Rs 11 crore from interest on fixed deposits and non-current investments, tallying the overall income to Rs 1,262 crore in FY23. See TheKredible for the detailed revenue breakup. Since Waycool follows an inventory-led model, the cost of procurement of materials accounted for 61.51% of the total expenditure. In line with scale, this cost grew 58.2% to Rs 1,200 crore in FY23. The firm’s expenses on employee benefits, doubtful debts, advertising, transportation, and other overheads took its overall cost up by 71.3% to Rs 1,951 crore in FY23 from Rs 1,139 crore in FY22. Check TheKredible for the detailed expense breakdown. Note: We have excluded the expense of Rs 1,906 crore and 828 crore from FY23 and FY22 respectively which were incurred against the loss of fair value of the preference shares, the company’s spokesperson confirmed, after sending queries. Despite the decent scale, the company didn’t manage to control its costs, resulting in its losses surged by 89% to Rs 685 crore in FY23. The company spent Rs 1.56 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -149.68% -199.66% Expense/₹ of Op Revenue ₹1.47 ₹1.56 ROCE N/A N/A While operational break-even might seem too ambitious in FY24 with these numbers, it is not impossible, considering Waycool is well past the investment stage now. However, the Chennai-based company has been struggling to find new investment and closed several initiatives in a bid to cut costs and extend the runway. According to sources, things aren’t looking great for Waycool and it would be exciting to watch whether it bounces back or wilts away on the lines of several promising venture-backed agritech startups.

MobiKwik posts Rs 875 Cr revenue and Rs 14 Cr profit in FY24

EntrackrEntrackr · 10m ago
MobiKwik posts Rs 875 Cr revenue and Rs 14 Cr profit in FY24
Medial

IPO bound MobiKwik made a strong comeback in the fiscal year ending March 2024, with its revenue surging by over 62%. The fintech firm also achieved profitability during FY24, recovering from an Rs 84 crore loss in FY23. That should do no harm at all to its IPO prospects. MobiKwik’s revenue from operations grew to Rs 875 crore in FY24 from Rs 539 crore in FY23, its consolidated annual financial results sourced from the Registrar of Companies (RoC) shows. Income from the commission on recharge, processing, and interest income on servicing loans, payment gateways, and technologies platforms were the primary sources of revenue for MobiKwik in FY24. In the last fiscal year (FY24), the company expanded its loan offerings through lending partners, resulting in a 3X increase in its lending operational cost to Rs 270 crore as compared to Rs 69 crore in FY23. Its payment gateway also grew 18.4% to Rs 201 crore in FY24. The employee benefits, legal, advertising cum promotional, technology and other overheads pushed the total cost up by 36.4% to Rs 876 crore in FY24 from Rs 642 crore in FY23. See TheKredible for the detailed expense breakup. More than 60% jump in scale and controlled expenditure led MobiKwik to turn black with Rs 14 crore in the last fiscal year as compared to Rs 84 crore loss in FY23. Its ROCE and EBITDA margins improved to 15.21% and 4.16% respectively. On a unit level, it spent Rs 1 to earn a rupee in FY24. In January this year, MobiKwik filed its draft red herring prospectus (DRHP) with the market regulator SEBI to raise Rs 700 crore from its IPO. The firm also reported profitability during the first half of FY24 with Rs 9.5 crore PAT and an operating revenue of Rs 381 crore. This is the second attempt by MobiKwik to go public as the Gurugram-based firm filed its first DRHP in July 2021. However, the firm later abandoned public listing citing weak market conditions. It’s worth highlighting that the firm is looking to raise less than half of what it aimed at from the previous attempt to go public. After filing DRHP, the company also raised Rs 50 crore ($6 million) in debt from BlackSoil Capital. After being overshadowed by Paytm and its storied investors, MobiKwik has done well to achieve profitability well before Paytm is expected to. The firm has often looked to plough a lonely path, sticking to its core offerings even as peers ventured into multiple segments. Now, it has the benefit of legacy as well as a strong balance sheet to build on, something it seems well prepared for, as the founders remain committed to the firm’s future as well. With an IPO finally in sight, the small debt fund raise can also be seen as a sign of confidence and conviction in going through with the IPO process this time.

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