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The Ayurveda Co posts Rs 60 Cr revenue in FY24, loss soars 3X

EntrackrEntrackr · 5m ago
The Ayurveda Co posts Rs 60 Cr revenue in FY24, loss soars 3X
Medial

The Ayurveda Co, a D2C consumer brand, recorded a 66% year-on-year growth in its scale during the last fiscal year ended in March 2024. However, the losses for the Sixth Sense Venture-backed firm surged over three-fold in the same period. The Ayurveda Co’s revenue from operations increased by 66% to Rs 59.6 crore in FY24 from Rs 36 crore in FY23, shows its financial statement sourced from the Registrar of Companies (RoC). The Ayurveda Co offers ayurvedic beauty and personal care products, including hair care, skincare, makeup, and wellness items. The firm's revenue is generated exclusively from the sale of these products. The Ayurveda Co earned an additional Rs 2.4 crore from interest income, which increased its total revenue to Rs 62 crore in FY24. On the expense side, the cost of materials was its largest cost center which jumped 2.4X to Rs 28.6 crore from Rs 12 crore in FY23. Its advertising and employee benefits grew by 73.3% and 80.2% to Rs 26 crore and Rs 15.5 crore, respectively, in the last fiscal year. Manpower and recruitment expenses surged to Rs 11.3 crore. In the end, the company’s total expenses increased 97% to Rs 109.5 crore in FY24 from Rs 55.6 crore in FY23. The sharp increase in expenditures resulted in a 3.2X spike in losses to Rs 68 crore in FY24, compared to a Rs 21 crore loss in FY23. Its ROCE and EBITDA margin stood at -700% and -100.65%, respectively. On a unit level, the company spent Rs 1.84 to earn a single rupee. At the end of FY24, the Gurugram-based company reported current assets worth Rs 45 crore, including cash and bank balances worth an alarming Rs 52 lakh. The Ayurveda Co has secured approximately $16 million in funding to date, including its Rs 100 crore Series A round led by Sixth Sense Ventures in 2023. The company competes with brands like Ayurveda Experience, which reported Rs 250 crore in revenue for FY23, along with Wow Skin, Sugar, and others. The sharp rise in costs is a little surprising, even in a year just after the firm raised significant funding, as we have seen earlier. One hopes FY25 will bring not just a moderation in costs but also a disproportionate rise in topline, considering the significant funding it seems to have raised. In a fiercely competitive market with valuations sagging for all but the most profitable firms, The Ayurveda Co’s numbers are more than a little underwhelming to be honest. The firm’s only argument from here on will have to be a strong performance in FY25.

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Tractor Junction revenue soars 2.3X in FY24; cuts losses by 51%

EntrackrEntrackr · 9m ago
Tractor Junction revenue soars 2.3X in FY24; cuts losses by 51%
Medial

Tractor-focused marketplace Tractor Junction has been growing at a rapid pace, with the company’s operating revenue surpassing the Rs 60 crore mark for the fiscal year ending March 2024. Moreover, the Bengaluru-based firm reduced its losses by 51% during this period. Tractor Junction’s operating revenue surged 2.3X to Rs 62 crore in FY24 from Rs 26.8 crore in FY23, according to its consolidated annual figures accessed from the Registrar of Companies (RoC). For context, Tractor Junction’s gross scale had spiked 3X in FY23. Tractor Junction Tractor Junction is a rural vehicle marketplace facilitating buying, selling, financing, and insuring new and used tractors, farm equipment, and rural commercial vehicles. It also provides essential information and vetted reviews on farm machinery, enabling users to compare options. The company generated 73% of its revenue from tractor sales, which tripled in FY24, while the remaining 27% came from tractor’s services. It also earned Rs 5.8 crore from interest on deposits, bringing total income to Rs 67.8 crore in the last fiscal year (FY24). Looking at expenses, 60% of the total expenditure went toward material costs, which tripled to Rs 43 crore. Another significant expense was employee benefits, accounting for 21% of total expenses. Advertising, finance, and rent were additional costs, bringing total expenses to Rs 72.8 crore in FY24, up from Rs 35 crore in FY23. See TheKredible for the detailed expense breakup With increased revenue, Tractor Junction managed to reduce its losses by 51%, down to Rs 3.6 crore in FY24 from Rs 7.5 crore in FY23. Its ROCE and EBITDA margin stood at -7.68% and -16.42%, respectively. On a per-unit basis, Tractor Junction spent Rs 1.17 to earn a rupee in FY24. FY23-FY24 FY23 FY24 EBITDA Margin -20.88% -5.85% Expense/₹ of Op Revenue ₹1.29 ₹1.17 ROCE -16.42% -7.68% According to TheKredible, Tractor Junction has raised nearly $6 million to date from investors including Info Edge, Omnivore, Rockstart, and Indigram Labs, and is currently valued at $19.34 million.

InsuranceDekho revenue soars 7.7X in FY24, posts Rs 86 Cr profit

EntrackrEntrackr · 8m ago
InsuranceDekho revenue soars 7.7X in FY24, posts Rs 86 Cr profit
Medial

InsuranceDekho turned out a stellar financial performance in the last fiscal year, with revenue from operations spiking 7.7 times. At the same time, the company reported a profit of Rs 86 crore for the fiscal year ending March 2024, compared to a loss of Rs 51 crore in FY23. InsuranceDekho’s revenue from operations surged to Rs 743.6 crore in FY24 from Rs 96.5 crore in FY23, its standalone financial statement filed with the Registrar of Companies (RoC) shows. InsuranceDekho helps customers to compare and buy motor, health, travel and pet insurance. It also offers several investment plans including ULIP, child, fixed deposit, retirement plans among others. At Rs 726.61 crore, insurance brokerage was the largest revenue generator for the firm which accounted for 97.7% of the total operating revenue while ancillary services brought in Rs 17 crore. The Gurugram-based firm also made an additional Rs 41.3 crore from non operating sources, including software sales and interest income which pushed InsuranceDekho total income to Rs 785 crore in FY24. Looking at the expenses, point of sales charges was the major element, which formed 43% of the total expense. This cost surged by 36X to Rs 301 crore in FY24, from mere Rs 8.3 crore in FY23. Employee benefit expenses stood at Rs 130.26 crore, showing a 21.7% rise from Rs 107.05 crore in FY23. Manpower management was another expense that ballooned 53X to Rs 35 crore in FY24. Advertising, finance costs collectively formed Rs 98 crore. In the end, the CarDekho-incubated company’s total expenses increased by 4.6X to Rs 699.21 crore during the last fiscal year. With over 650% growth in scale, InsuranceDekho turned profitable in FY24. It posted a profit of Rs 85.71 crore in the last fiscal year from a loss of -51.59 crore in FY23. Its ROCE and EBITDA margin improved to 16.5% and 11.73%, respectively. On a unit basis, the company spent Re 0.94 to earn a rupee of operating revenue in FY24. InsuranceDekho reported a Cash and Bank Balance of Rs 37.7 crore and Current Asset of 795.32 crore in the fiscal year ending March 2024. In October 2023, the firm secured $60 million in a Series B funding round led by Mitsubishi UFJ Financial Group. It is reportedly in discussions to merge with Renewbuy—a strategic move intended to establish a major player in the insurance aggregation market and compete with industry leader PolicyBazaar. PB Fintech, the parent firm of Policybazaar closed FY24 with about Rs 3,500 crore, which places the Rs 750 odd crores of InsuranceDekho in context. A very positive context, we will add, considering the fact that Insurance Dekho has managed to turn up the numbers with profits to show as well. Something Policybazaar managed well after it crossed the Rs 2,000 crore mark. In a market that is evolving at a pace it has never seen before, the opportunities for InsuranceDekho remain immense, and another strong year in FY25 will open up the IPO route as well, in all probability, making it a formidable competitor in the market that increasingly looks like it will consolidate into a two or three horse race as far as aggregators go.

The Sleep Company revenue soars 2.5X to Rs 312 Cr in FY24

EntrackrEntrackr · 8m ago
The Sleep Company revenue soars 2.5X to Rs 312 Cr in FY24
Medial

Direct to consumer (D2C) mattress and sleep solution companies have been growing at a rapid clip over the past five-six years and Premji Invest-backed The Sleep Company is no exception. Keeping the momentum from FY23, its operating scale spiked 2.5X in FY24. The Sleep Company’s revenue from operations jumped to Rs 312.33 crore in FY24 from Rs 127.14 crore in FY23, its consolidated financial statement filed with the Registrar of Companies (RoC) shows. The Sleep Company offers mattresses, pillows, cushions, bedding, and office chairs. Apart from its own website, the firm sells its products across e-commerce platforms including Amazon and Flipkart. The company’s growth was primarily driven by its flagship mattress segment which contributed 65% in the revenue and surged by 89% to Rs 203.69 crore in FY24. It is worth noting that mattresses are the only finished goods sold by the company. The rest are traded goods which includes chairs, pillows and beds soared 5.6X to Rs 108.6 crore in FY24. The five-year-old company made another Rs 7.7 crore from interest income which took its total revenue to Rs 320 crore in the last fiscal year. On the expense side, a key contributor was the cost of materials, which grew 2.4X to Rs 144.74 crore in the fiscal year ending March 2024. Advertising expenses surged by 89.7% to Rs 101.43 crore, while employee benefits increased 3X to Rs 35.94 crore during the fiscal year. Rent, finance, and other expenses further drove the total costs up 2.2X, reaching Rs 378.68 crore in FY24 compared to Rs 166.7 crore in FY23. Unlike its revenue, The Sleep Company’s losses increased by 58% to Rs 58.69 crore in FY24 from Rs 37.06 crore in FY23. Its ROCE and EBITDA margin stood at -26% and -15.92% respectively. On a unit basis, it spent Rs 1.21 to earn a rupee of operating revenue in FY24. The Mumbai based company reported cash and bank balances of Rs 4.15 crore and current assets of Rs 289 crore in FY24. After a period of disruption, when mattress and related firms enjoyed some serious love from investors, it’s attrition time for the segment. The legacy firms have pulled their socks, going for acquisitions, online plays, and interestingly for this writer, offline activations like never before to protect their turf. All this has meant that the consumer ‘education’ that was driving up prices for specific needs is set to moderate, as consumers graduate with the learning as well. Questions can be seen being raised on the justification of premiums for features, and expect that to translate to more margin pressure as well. For the Sleep Company and most of the others, if not sleepless nights, some long nights await as investors wait and watch now.

NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24

EntrackrEntrackr · 2m ago
NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24
Medial

NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24 Dialysis service provider NephroPlus reported a 29% year-on-year increase in operating revenue for the fiscal year ending March 2024. Significantly, the Hyderabad-based company turned profitable during the period, marking a notable recovery from a Rs 12 crore loss in FY23. NephroPlus’ operating revenue grew to Rs 566 crore in FY24 from Rs 438 crore in FY23, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). NephroPlus runs over 275 dialysis centers in more than 170 cities in India and treats nearly 20,000 patients on a monthly basis. Revenue from these services accounted for 95% of the company’s income in FY24. On the expense side, the largest component of expenditure remained the cost of materials, which rose 19% to Rs 169 crore, accounting for over 31% of the total spend. Employee benefit expenses dropped slightly to Rs 91 crore from Rs 97 crore in FY23, while healthcare professional fees surged by 90% to Rs 59 crore. Hospital fees also increased to Rs 56 crore from Rs 48 crore, and other operational expenses climbed to Rs 166 crore. Overall, NephroPlus reported total costs rose 19.7% to Rs 541 crore in FY24. The strategic focus on cost discipline and improved margins helped NephroPlus post a net profit of Rs 35 crore in FY24, as compared to a net loss of Rs 12 crore a year earlier. Its ROCE and EBITDA margin improved to 9.40% and 18.96% respectively. On a unit basis, NephroPlus spent Rs 0.96 to earn a rupee of revenue in FY24. As of March 2024, the company reported current assets worth Rs 390 crore in FY24, out of which Rs 61 crore were in cash and bank balances. According to startup data intelligence platform TheKredible, NephroPlus has raised approximately $212 million in funding to date, having IFC and Besemer Venture Partners as its lead investors. The company’s co-founder and CEO Vikram Vuppala owns 11.6% of the company. Recently, NephroPlus acquired seven new dialysis clinics in the Philippines. The firm is also planning to start its clinics in Saudi Arabia later this year.

Nykaa posts Rs 2,267 Cr revenue in Q3 FY25, profit soars 52%

EntrackrEntrackr · 5m ago
Nykaa posts Rs 2,267 Cr revenue in Q3 FY25, profit soars 52%
Medial

Nykaa posts Rs 2,267 Cr revenue in Q3 FY25, profit soars 52% Online beauty and fashion platform Nykaa reported strong growth in Q3 FY25, with its revenue from operations rising 26.8% year-on-year and profits surging 51.7% during the quarter ending December 2024. According to its unaudited consolidated financial statements sourced from the NSE, Nykaa's revenue from operations grew to Rs 2,267 crore in Q3 FY25, compared to Rs 1,789 crore in Q3 FY24. The beauty segment accounted for 90.9% of the total revenue at Rs 2,060 crore, while the fashion segment contributed 8.8% of the operating income in the last quarter. For Nykaa, the cost of materials constituted 57.2% of its total expenditure, rising to Rs 1,276 crore in Q3 FY25. Additional spending on employee benefits, finance, marketing, technology, and other overheads brought the company’s total costs to Rs 2,228 crore during the quarter. Steady growth in its scale helped Nykaa achieve a 51.7% increase in profit, reaching Rs 26.4 crore in Q3 FY25, compared to Rs 17.4 crore in Q3 FY24. Nykaa has acquired a majority stake in Earth Rhythm, following its initial minority investment in the company in 2022. This move was achieved through a combination of primary and secondary transactions. Additionally, Nykaa increased its stake in its subsidiary Dot & Key to 90% with an additional investment of Rs 265.3 crore. As of 4:10 PM, Nykaa’s shares are trading at Rs 170.5, giving the Mumbai-based company a market cap of Rs 48,739 crore ($5.8 billion).

PayU-backed Mindgate profit soars 3.6X in FY24, posts Rs 257 Cr revenue

EntrackrEntrackr · 3m ago
PayU-backed Mindgate profit soars 3.6X in FY24, posts Rs 257 Cr revenue
Medial

Payments technology company Mindgate made headlines last week after Prosus’s PayU acquired a 43.5% stake in the firm. The strategic acquisition followed Mindgate’s impressive 34.6% year-on-year growth, with revenue surpassing Rs 250 crore in FY24 and net profits surging 3.6X. Mindgate’s revenue from operations grew to Rs 257 crore in FY24 from Rs 191 crore in FY23, its consolidated financial statements accessed from the Registrar of Companies (RoC) show. Mindgate is a digital payments company specializing in real-time payment processing and enterprise payment solutions for banks, financial institutions, and businesses. Income from subscription-based SaaS services accounted for 87.7% of the total operating revenue, which rose by 35% to Rs 201 crore in FY24. Revenue from transaction processing and annual maintenance services contributed Rs 40 crore and Rs 16 crore, respectively. The company also earned Rs 4 crore from interest on current investments, bringing its total revenue to Rs 261 crore in FY24 from Rs 195 crore in FY23. Similar to other SaaS tech firms, employee benefits made up 71% of Mindgate’s overall expenditure. This cost rose by 22.6% to Rs 163 crore in FY24. Additional expenses such as rent, subscription and membership fees, travel, advertising, and overheads pushed the total expenditure up by 24.5% to Rs 229 crore in FY24, compared to Rs 184 crore in FY23. Year-on-year growth, coupled with controlled costs, enabled Mindgate to post a 3.6X surge in profits to Rs 23.2 crore in FY24 from Rs 6.5 crore in FY23. At a unit level, the company spent Re 0.89 to earn a rupee in FY24, with improved ROCE and EBITDA margins of 17.03% and 13.6%, respectively. By the end of FY24, its total current assets stood at Rs 211 crore, including cash and bank balances of Rs 74 crore.

Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24

EntrackrEntrackr · 3m ago
Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24
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Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24 Decathlon has made a turnaround in FY24, reporting a profit of Rs 197 crore, a sharp recovery from a Rs 18 crore loss in FY23. However, its revenue growth remained flat, registering a 2.2% year-on-year increase for the fiscal year ending March 2024. Decathlon India’s revenue from operations grew to Rs 4,008 crore in FY24 from Rs 3,920 crore in FY23, its annual standalone financial statements sourced from the Registrar of Companies (RoC) show. Decathlon India operates on a direct-to-consumer model, managing the design, manufacturing, and sale of its sports gear through large retail stores and an e-commerce platform. The company currently operates 90 stores across India. The sale of sports products was the sole source of revenue for Decathlon India. It also added Rs 58 crore from interest on investments and other non-operating income which tallied its overall to Rs 4,066 crore in FY24. The cost of procurement was the latest cost center forming 64.4% of the overall expenditure. This cost was reduced by 4.3% to Rs 2,448 crore in FY24, compared to Rs 2,559 crore in FY23. Decathlon India spent Rs 327 crore on employee benefits. Its controlled spending on power, rent, repairs, fuel, advertising, information technology, freight, franchisee fees, and legal/professional expenses led to an overall cost reduction of 4.5% to Rs 3,797 crore in FY24 from Rs 3,975 crore in FY23. Despite modest revenue growth, Decathlon India’s cost-control measures enabled it to post a net profit of Rs 197 crore in FY24, a sharp recovery from a Rs 18.6 crore loss in FY23. On a unit level, the company spent Re 0.95 to earn a rupee, with improved ROCE at 17.79% and EBITDA at 14.49%. By the end of the last fiscal year (FY24), its total current assets stood at Rs 1,247 crore, including Rs 325 crore in cash and bank balances. Last year, Decathlon India CEO Sankar Chatterjee mentioned that the company plans to double its revenue to Rs 8,000 crore within the next 3 to 5 years.

Nykaa posts Rs 2,061 Cr revenue in Q4 FY25, profit soars 90%

EntrackrEntrackr · 1m ago
Nykaa posts Rs 2,061 Cr revenue in Q4 FY25, profit soars 90%
Medial

Online beauty and fashion platform Nykaa reported strong growth in Q4 FY25, with its revenue from operations rising 24% year-on-year and profits surging 90% during the quarter ending March 2025. According to its consolidated financial statements sourced from the NSE, Nykaa's revenue from operations grew to Rs 2,061 crore in Q4 FY25, compared to Rs 1,667 crore in Q4 FY24. For the full fiscal year (FY25), Nykaa’s operating revenue increased 24% to Rs 7,950 crore in FY25 from Rs 6,386 crore in FY24. The beauty segment accounted for 92% of the total revenue at Rs 1,894 crore, while the fashion segment contributed 8% of the operating income in the last quarter. For Nykaa, the cost of materials constituted 57% of its total expenditure, rising to Rs 1,153 crore in Q4 FY25. Additional spending on employee benefits, finance, marketing, technology, and other overheads brought the company’s total costs to Rs 2,031 crore during the quarter. For the full fiscal year ending March 2025, the total expenses rose to Rs 7,850 crore. Steady growth in its scale helped Nykaa achieve a 90% increase in profit to Rs 19 crore in Q4 FY25, compared to Rs 10 crore in Q4 FY24. For FY25, the firm’s profit stood at Rs 74 crore in FY25 from Rs 44 crore in FY24. At the close of today's trading session, Nykaa's stock was priced at Rs 200.8, giving the company a market capitalization of Rs 57,406 crore.

Info Edge crosses Rs 2,500 Cr revenue and Rs 500 Cr profit threshold in FY24

EntrackrEntrackr · 1y ago
Info Edge crosses Rs 2,500 Cr revenue and Rs 500 Cr profit threshold in FY24
Medial

Info Edge, the parent company of Naukri and 99acres, published its financial statements on Thursday. The consolidated figures showcased a modest 8% increase in revenue for FY24. However, the company made a turnaround in its bottom line, transitioning from a loss of Rs 70 crore in FY23 to a profit of Rs 594 crore in FY24. Info Edge’s revenue from operations grew 8% to Rs 2,536 crore in FY24 from Rs 2,345 crore in FY23, its consolidated financial statements disclosed with the stock exchange shows. Meanwhile, the company posted a 4.8% increase in revenue to Rs 657 crore in Q4 FY24 from Rs 627 crore in Q3 FY24. The Sanjeev Bikchandani-led firm operates through different segments. Income from Naukari.com and related portals formed 74.1% of its total revenue which increased 7.49% to Rs 1,880 crore in FY24. Its other segment 99acres saw a 23.6% growth to Rs 351 crore in FY24. Jeevansathi and Shiksha combined participated with Rs 305 crore of revenue during FY24. Info Edge made Rs 414 crore from non-operating activities tallying its total revenue to Rs 2,950 crore in FY24. Akin to other internet companies, its employee benefits accounted for 61% of its total expenditure which grew only 2.83% to Rs 1,128 crore in FY24 from Rs 1,097 crore in FY22. Info Edge’s network/internet, advertising cum promotional, legal, traveling and other overheads push the total expenditure to Rs 1830 crore in FY23 from Rs 1,858 crore in FY23. Note 1: The company recorded exceptional items of Rs 110 crore and Rs 509 crore in FY24 and FY23 respectively due to the decrease in the carrying value of investments. This was the primary reason for the significant loss posted in FY23. Note 2: The company has 15 joint ventures including Makesense, Happily Unmarried’s Ustraa (now acquired by VLCC), Shopkirana, Juno, Sploot and others during FY24. Info Edge recorded a share loss of Rs 131 crore and 231 crore in FY24 and FY23 respectively in its joint ventures which also makes a part of its consolidated figures and reflects losses in the financial statements. At the end, Indo Edge posted a net profit of Rs 594 crore in FY24 where the figures stood at a loss of Rs 70 crore in FY23 (refer note 1 and 2). On a unit level, it spent Rs 0.72 to earn a rupee in FY23.

Qure.ai revenue soars 83% to Rs 141 Cr in FY24, slashes losses

EntrackrEntrackr · 9m ago
Qure.ai revenue soars 83% to Rs 141 Cr in FY24, slashes losses
Medial

Healthcare firm Qure.ai recently raised $65 million in a funding round led by Lightspeed Ventures and 360 One Asset Management. This investment follows an impressive 83% growth in Qure.ai’s revenue, which surpassed Rs 140 crore in FY24. The Lightspeed-backed firm also reduced its losses by 38.5% in this period. Qure.ai’s revenue from operations grew to Rs 141 crore in the fiscal year ending March 2024 from Rs 77 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies show. Qure.ai offers AI-driven solutions designed to assist radiologists and physicians in diagnosing critical conditions such as tuberculosis, lung cancer, and stroke. In the last fiscal year, sales of these tools and software contributed 87.23% of the company’s operating revenue, doubling to Rs 123 crore. The remaining revenue was generated from the sale of healthcare products. In line with many tech and AI-driven companies, employee benefits made up more than half of Qure.ai’s total expenses. These costs surged by 66.2%, rising to Rs 108 crore in FY24 from Rs 65 crore in FY23, with Rs 12 crore allocated to ESOP expenses, a non-cash component. Additional expenses, including costs for materials, communication, travel, advertising, legal, and other overheads, contributed to an 18.2% overall increase in expenses, pushing total costs to Rs 201 crore in FY24 from Rs 170 crore in FY23. See TheKredible for the detailed expense breakup. An over 80% surge in scale, combined with effective cost controls, enabled Qure.ai to cut losses by 38.5%, reducing them to Rs 48 crore in FY24 from Rs 78 crore in FY23. While its EBITDA margin improved, it remained negative at -22.73% in FY24. On a unit basis, the company spent Rs 1.43 to earn a rupee in FY24. FY23-FY24 FY23 FY24 EBITDA Margin -78.02% -22.73% Expense/₹ of Op Revenue ₹2.21 ₹1.43 ROCE NA NA The Mumbai-based firm has raised over $120 million to date, including a recent $65 million round. According to startup data platform TheKredible, notable investors in Qure.ai include Peak XV, Lightspeed, Fractal, and Novo Holdings. Large funding rounds of the type Qure.ai has attracted are increasingly available only for firms that have traveled some distance in demonstrating market acceptance. For Qure.ai, that is evident in the topline as well as the spread of more sophisticated diagnostic tools that are available more widely in India today, promising a heady period of strong growth for the foreseeable future.

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