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Swiggy posts Rs 4,410 Cr revenue in Q4 FY25, Instamart grows 115%

EntrackrEntrackr · 2m ago
Swiggy posts Rs 4,410 Cr revenue in Q4 FY25, Instamart grows 115%
Medial

Swiggy posts Rs 4,410 Cr revenue in Q4 FY25, Instamart grows 115% Foodtech and quick commerce major Swiggy has managed a 45% year-on-year growth in its operating revenue which spiked to Rs 4,410 crore during Q4 FY25 as compared to Rs 3,045 crore in Q4 FY24. However, the Bengaluru-based company’s losses surged 95% in the same period. Swiggy’s food delivery business continues to be a major contributor, accounting for 37% of the total collection in Q4 FY25. Revenues from this vertical grew 18% to Rs 1,629 crore from Rs 1,375 crore in Q4 FY24. The company’s quick commerce segment also saw remarkable growth, with revenue surging by 115% to Rs 689 crore in Q4 FY25 from Rs 320 crore in Q4 FY24. The segment's gross order value (GOV) growth was driven by an increase in order frequency and the addition of new dark stores. Scootsy Logistics contributed a major 45% of Swiggy’s overall operating collection. Income from this entity increased by 58% YoY to Rs 2,004 crore in Q4 FY25 from Rs 1,265 crore in Q4 FY24. During the last quarter, Swiggy invested Rs 1,000 crore in Scootsy to support expansion and growth. Swiggy’s Dine Out, Genie, Swiggy Mini, and other non-operating income took its total revenue to Rs 4,531 crore in Q4 FY25. For the full fiscal year ending March 2025, Swiggy’s revenue rose 35% to Rs 15,227 crore in FY25 from Rs 11,247 crore in FY24. On the cost side, the procurement of FMCG products for supply chain distribution formed 33% of its overall cost which increased by 52% to Rs 1,854 crore in Q4 FY25. Meanwhile, the delivery charges saw 27% growth to Rs 1,161 crore in Q4 FY25. Swiggy spent Rs 695 crore and Rs 978 crore on employee benefits and advertising, respectively. Overall, Swiggy’s total expenses for the quarter increased 53% to Rs 5,609 crore from Rs 3,668 crore in Q4 FY24. On a fiscal-on-fiscal year basis, its total expenses increased to Rs 18,725 crore in the quarter ending March 2025 from Rs 13,947 crore in FY24. The 53% growth in expenditure led losses to increase by 95% to Rs 1,081 crore in Q4 FY25 from Rs 555 crore in Q4 FY24. On a fiscal-on-fiscal basis, Swiggy’s losses spiked 33% to Rs 3,117 crore in FY25 from Rs 2,350 crore in FY24.

Apna Mart, the D Mart for India’s smaller cities, grows 770% in FY23

EntrackrEntrackr · 1y ago
Apna Mart, the D Mart for India’s smaller cities, grows 770% in FY23
Medial

Bharat-focused hyperlocal grocery platform Apna Mart managed to grow its topline by over eight-fold during the fiscal year ending March 2023. But this growth was fueled by aggressive spending on promotions, manpower, and employee benefits. Apna Mart’s revenue from operations surged 770% to Rs 32.2 crore during FY23 in comparison to Rs 3.7 crore in FY22, the company’s financial statement with the Registrar of Companies shows. Founded in 2021 by Chetan Garg and Abhishek Singh, Apna Mart is a franchise-driven offline grocery and FMCG chain which also offers online ordering in Jamshedpur, Ranchi, Raipur, Dhanbad, Asansol, among others. The platform positions itself as DMart for smaller cities. The cost of materials was found to be the largest cost component for the company forming 58.6% of the total expenses. This cost jumped 809.9% to Rs 31.6 crore in FY23 from Rs 3.47 crore in FY22. Employee benefit expenses also skyrocketed to Rs 9 crore during the year which also includes ESOP costs (non-cash in nature) worth Rs 1.89 crore. Further, expanding manpower charges, marketing costs, and legal expenses along with other operating costs took the firm’s total expenditure to Rs 53.9 crore in FY23. The total cost was Rs 4 crore in the previous fiscal year (FY22). In the end, Apna Mart’s bottom line suffered the impact of rising expenses and it posted a loss of Rs 21.8 crore in FY23 against Rs 8 lakh profit in FY22. For the complete expense breakdown and year-on-year financial performance of the company, head to TheKredible. Followed by heavy cash burn, the operating cash outflows of the startup worsened to Rs 23.4 crore (negative) while the net cash flows stood at Rs 1.8 crore (positive). The EBITDA margin and ROCE of the firm registered at -66.37% and -449.17%, respectively. On a unit level, Apna Mart spent Rs 1.67 to earn a rupee of operating revenue during FY23. FY22-FY23 FY22 FY23 EBITDA Margin 3.39% -66.37% Expense/₹ of Op Revenue ₹1.08 ₹1.67 ROCE 6.88% -449.17% The company was in talks to raise about $15-20 million in funding from Accel and Sequoia (now Peak XV Partners). Entrackr had exclusively reported this development in April 2023. As per TheKredible, Apna Mart has raised over $14 million to date from the likes of Accel Partners, Peak XV Partners, Disruptors Capital, Sparrow Capital, and 2 am Ventures among others. The firm’s current valuation stands at Rs 397 crore or $48 million. With Rs 397 crore valuation and Rs 32 crore revenue from operations, the company’s valuation-to-revenue ratio stands at 12.4 times. Currently, the firm’s co-founders Abhishek Singh and Chetan Garg hold a 24.76% stake each, in the company. Accel Partners is the largest external stakeholder in ApnaMart followed by Peak XV Partners. For a complete shareholding pattern, visit TheKredible. Apnamart, with its footprint mostly in the East and Central parts of India, has a tough path ahead, as scrutiny will be very high for any retail venture here. While having professional founders with solid credentials will help a lot, the founders will be aware that any misstep will be magnified, in regions where there has been a long history of ventures that flamed and died out after promising the moon in the retail category. ‘Scams’ like JVG, Bhadrika, etc are still fresh in the minds of many, and Apna Mart will do well to not seek a franchisee-funded model for now. The way ahead will remain tough on the margin front, which the firm will probably seek to overcome by going for local brands over national brands perhaps. How far that takes them is something many people will be watching for, as local brands have also come a long way in areas like packaging quality. Whether product quality stands the test of markets, remains to be seen.

Swiggy crosses Rs 4,000 Cr revenue in Q3 FY25, InstaMart grows 2.1X

EntrackrEntrackr · 5m ago
Swiggy crosses Rs 4,000 Cr revenue in Q3 FY25, InstaMart grows 2.1X
Medial

Swiggy crosses Rs 4,000 Cr revenue in Q3 FY25, InstaMart grows 2.1X Swiggy’s food delivery business continues to be a major contributor, accounting for 34.23% of the total collection in Q3 FY25. Foodtech and quick commerce major Swiggy has managed a 31% year-on-year growth in its operating revenue which spiked to Rs 3,993 crore during Q3 FY25 as compared to Rs 3,048 crore in Q3 FY24. Swiggy’s food delivery business continues to be a major contributor, accounting for 34.23% of the total collection in Q3 FY25. Revenues from this vertical grew 3% to Rs 1,367 crore from Rs 1,326 crore in Q3 FY24. The company’s quick commerce segment also saw remarkable growth, with revenue surging by 113% to Rs 576 crore in Q3 FY25 from Rs 270 crore in Q3 FY24. The segment's gross order value (GOV) growth was driven by an increase in order frequency and the addition of new dark stores, contributing significantly to the company’s overall revenue.

Baron Capital marks up Swiggy’s valuation to $15.1 Bn

EntrackrEntrackr · 1y ago
Baron Capital marks up Swiggy’s valuation to $15.1 Bn
Medial

US-based asset manager Baron Capital has marked up the valuation of Swiggy to $15.1 billion, according to regulatory filings with the US’ Securities and Exchange Commission (SEC). This is a nearly 25% jump in the company’s valuation from $12.1 billion estimated by Baron as of December 2023. Soon after Baron’s mark up, Swiggy’s early backer Invesco also increased its valuation to $12.7 billion in April. The development was first reported by ET. This comes at a time when Swiggy is gearing up for its initial public offering (IPO). The Bengaluru-based firm received shareholders’ nod to float its $1.25 billion IPO and it reportedly filed papers with SEBI via confidential route in May. Before filing IPO papers, Swiggy was pitching a pre-IPO deal to high net-worth individuals (HNIs) to buy its shares at a 20% discount. Entrackr exclusively reported the development. Swiggy recorded Rs 5,476 crore in revenue from operations and Rs 1,600 crore loss during the first three quarters of the financial year FY24. Entrackr had exclusively reported financial numbers and secondary pitch by the company in April. In FY23, its revenue stood at Rs 8,265 crore in FY23 whereas its losses soared to Rs 4,179 crore. Besides Swiggy, Pine Labs, Meesho, FirstCry and Ola Electric also saw markups in their valuation in the last six months. Swiggy’s arch rival Zomato is currently valued at $18.7 billion, as per stock exchange data. The latter recently hit a market cap of $21 billion. Meanwhile, Baron has marked down edtech company Byju’s valuation to only $24 million as of March 2024. Earlier, BlackRock had already slashed the company’s valuation to $1 billion from $22 billion in early 2022.

XpressBees turns EBITDA positive in FY24, warehousing biz grows 60X

EntrackrEntrackr · 2m ago
XpressBees turns EBITDA positive in FY24, warehousing biz grows 60X
Medial

XpressBees turns EBITDA positive in FY24, warehousing biz grows 60X E-commerce-focused logistics and supply chain firm XpressBees managed only modest double-digit growth in the fiscal year ending March 2024. However, the company turned EBITDA positive during the same period, despite an increase in overall expenses. XpressBees’ operating revenue increased by 12% to Rs 2,831 crore in FY24 from Rs 2,531 crore in FY23, as per its consolidated financial statement sourced from the Registrar of Companies (RoC). XpressBees provides B2B/B2C express delivery service, cross-border logistics, and warehousing services to e-commerce players including Snapdeal, Myntra, Meesho, Netmeds, and Bigbasket, among others. Revenue from logistics services remained the primary source of income for XpressBees, accounting for 97% of the company’s total revenue. However, the company’s warehousing business, though smaller in size, posted an impressive jump (60X) — soaring from Rs 0.77 crore in FY23 to Rs 48 crore in FY24, signaling a strong push toward expanding its non-courier biz. The remaining revenue came from warehouse services (Rs 48 crore) and support services (Rs 31 crore), both of which witnessed notable growth. The firm also added Rs 109 crore from non-operating activities, which pushed its overall income to Rs 2940 crore in FY24. On the expense side, courier charges remained XpressBees’ largest cost component, rising 12% to Rs 1,816 crore in FY24. Linehaul charges saw a modest 6% increase to Rs 494 crore, while employee benefit expenses rose by nearly 10% to Rs 355 crore in the said fiscal year. Depreciation costs spiked 49% to Rs 159 crore, and other operational expenses contributed an additional Rs 319 crore. Overall, XpressBees’ total expenditure increased 13% year-on-year, reaching Rs 3,143 crore in FY24 from Rs 2,785 crore in FY23. With expenses growing faster than revenue, XpressBees' net loss widened by 11%, rising to Rs 200 crore in FY24 from Rs 180 crore in FY23. However, the Pune-based firm achieved EBITDA positivity, reporting an EBITDA of Rs 5 crore for the same period. The company’s ROCE stood at -8.32%, while its EBITDA margin came in at a modest 0.17%. On a per-unit basis, XpressBees spent Rs 1.11 to earn every rupee in revenue during FY24. XpressBees recorded current assets worth Rs 1867 crore in FY24, including Rs 1331 crore in cash and bank balances. Recently, Xpressbees acquired courier firm Trackon and named Uday R. Sharma as CBO for B2B, 3PL, and cross-border operations. According to startup data intelligence platform TheKredible, XpressBees has raised a total of $625 million in funding to date, having Norwest Venture Partners and Alibaba Group as its lead investors. The company’s Co-Founder & CEO Amitava Saha owns 3.15% of the company.

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