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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.

Advantage Club crosses Rs 300 Cr revenue in FY23; profitability in sight

EntrackrEntrackr · 1y ago
Advantage Club crosses Rs 300 Cr revenue in FY23; profitability in sight
Medial

Employee engagement platform Advantage Club has maintained its growth streak in FY23 with the firm’s operating revenue skyrocketing by 93.4%. Simultaneously, the firm also managed to control its losses in the fiscal year ending March 2023 and is likely to turn profitable in FY24. Advantage Club’s revenue from operations grew to Rs 323 crore in FY23 from Rs 167 crore in FY22, its annual financial statements filed with the Registrar of Companies show. The company provides employee engagement and experience solutions, which includes rewards, recognition, flexible benefits, wellness, onboarding, and more. It claims to work with 1,000 clients with a presence across 100 countries. The company has doubled its user base to 4 million in less than 15 months. Voucher sale was the primary source of revenue for Advantage Club forming 91.5% of the total operating earning which surged 92% to Rs 297 crore in FY23. The rest of the income came from the sale of services, discount income without product margin, and brand breakage. For the reward and recognition provider firm, the procurement of vouchers naturally became the largest cost center accounting for 92% of the overall expenditure. In line with the scale, this cost grew 92.3% to Rs 299 crore in FY23. The firm’s burn on employee benefits, advertising cum promotional, information technology, legal, and other overheads took its overall expenditure to Rs 324 crore in FY23 from Rs 171 crore in FY22. See TheKredible for the detailed expense breakup. The high procurement cost (vouchers) overshadowed the revenue growth, making it challenging for the company to achieve profitability in the last fiscal year. As a result, the company has been flirting around breakeven for the last three fiscal years. Its ROCE and EBITDA margin recorded at -20% and -0.3% respectively. On a unit level, it spent Re 1 to earn a rupee in FY23.

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr

EntrackrEntrackr · 6m ago
Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr
Medial

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr Treebo Hotels, a premium-budget hotel chain, crossed the Rs 100 crore revenue milestone in the fiscal year ending March 2024. Despite this growth, the Bengaluru-based company saw its losses rise by 17%, bringing total outstanding losses to Rs 488 crore. Treebo Hotels’s revenue from operations grew 22.5% to Rs 109 crore in FY24 from Rs 89 crore in FY23, its consolidated financial statements filed with the Registrar of Companies show. Income from accommodation services (taken on lease and managed properties) formed 95% of the total operating revenue which increased by 22.3% to Rs 104 crore in FY24 from Rs 85 crore in FY23. The rest of the income comes from the sale of products, and subscription services. The company also added Rs 7.22 crore as other income (non-operating) which tallied its overall revenue to Rs 116 crore in FY24 from Rs 94 crore in FY23. Treebo spent 41% of its overall expenditure on employee benefits which increased marginally by 7% to Rs 59 crore in FY24. Its cost and commission surged 70% and 48% to Rs 17 crore and Rs 43 crore in the previous fiscal year. Its cost of materials, legal, technology, traveling, and other overheads took the overall cost up by 22% to Rs 144 crore in FY24 from Rs 118 crore in FY23. The increased advertising and commission costs led Treebo to raise its losses by 16.7% to Rs 28 crore in FY24, compared to Rs 24 crore in FY23. Its ROCE and EBITDA margin stood at -540% and -18.1% respectively. On a unit level, it spent Rs 1.32 to earn a rupee in FY24. The company’s total current assets stood at Rs 34 crore with cash and bank balances of Rs 7 crore in the previous fiscal. According to startup data intelligence platform TheKredible, decade-old Treebo has secured Rs 566 crore (approximately $70 million) in funding from investors including Accor, Elevation Capital, Matrix Partners, and Bertelsmann. The company’s most recent major funding, amounting to $16 million, was raised in June 2021. Treebo competes directly with Bloom Hotels and FabHotels. In FY24, Bloom Hotels saw its operational revenue rise by 73.6% to Rs 250 crore, with a profit of Rs 14 crore. FabHotels recorded Rs 224 crore in operating revenue for FY23 but has not yet filed its FY24 annual report.

PokerBaazi parent crosses Rs 400 Cr revenue in FY24; profits grew 26%

EntrackrEntrackr · 6m ago
PokerBaazi parent crosses Rs 400 Cr revenue in FY24; profits grew 26%
Medial

Fintrackr All Stories PokerBaazi parent crosses Rs 400 Cr revenue in FY24; profits grew 26% Moonshine Technology, which operates PokerBaazi, SportsBaazi, and CardBazzi, demonstrated 55% growth in its operating revenue to Rs 415 crore in FY24 from Rs 268 crore in FY23. The platform fees/service transaction fees received from the users were the sole source of revenue for Moonshine. The firm also added Rs 9 crore mainly from the interest on bank deposits which tallied its overall income to Rs 424 crore in FY24, compared to Rs 273 crore in FY23. At the time of acquisition, Moonshine disclosed that PokerBaazi accounts for over 85% of its net revenue, while its fantasy sports platform, SportsBaazi, contributes 12%. Similar to other online gaming platforms, Moonshine spent 60% of its overall expenditure on advertising. This cost surged 83% to Rs 232 crore in FY24 from Rs 127 crore in FY23. Its employee benefits also grew 62% to Rs 89 crore in FY24. Its payment gateway, website/server, customer verification, and legal costs took the overall expenditure up by 55.6% to Rs 389 crore in FY24 from Rs 250 crore in FY23. The decent surge in scale and controlled expenditure helped Moonshine to increase its profits by 26.3% to Rs 24 crore in FY24, compared to Rs 19 crore in FY23. The company's ROCE and EBITDA margin stood at 20% and 10.1%, respectively, while its expense-to-earnings ratio was recorded at Rs 0.94. During FY24, Moonshine’s total current assets stood at Rs 236 crore with cash and bank balances of Rs 196 crore. Out of Rs 982 crore ($118 million), Nazara has already invested $100 million and acquired a 47.7% stake in the company through a combination of secondary and primary share purchases.

FabHotels gross revenue crosses Rs 550 Cr in FY24, losses widen 23%

EntrackrEntrackr · 5m ago
FabHotels gross revenue crosses Rs 550 Cr in FY24, losses widen 23%
Medial

FabHotels gross revenue crosses Rs 550 Cr in FY24, losses widen 23% Casa2 Stays, the parent firm of FabHotels, reported a 34% increase in gross revenue for the fiscal year ending March 2024. However, its loss rose by 23%, driven by a twofold increase in employee benefit expenses. FabHotels’ gross revenue increased to Rs 552 crore in FY24 from Rs 412 crore in the previous fiscal year (FY23), according to its financial statement sourced from the Registrar of Companies (RoC). The revenue for FY23 appears different this year as it marks FabHotels’ first set of financial statements prepared in compliance with Indian Accounting Standards (Ind AS). FabHotels, a budget hotel chain with over 600 properties across more than 50 cities in India, generated 99.4% of its gross revenue from accommodation bookings. Gross revenue increased by 33.35% to Rs 549 crore in FY24. Meanwhile, other revenue sources contributed Rs 3.3 crore. The company also recorded an additional income of Rs 11 crore from interest on deposits and liabilities written off, which pushed its overall revenue to Rs 563.6 crore in the last fiscal year. Accommodation expenses remained the largest cost component forming 74% of the overall cost, which grew by 32% to Rs 435 crore. FabHotels’ employee costs shot up 2X to Rs 92 crore in FY24. This includes Rs 15 crore as ESOP cost. Its commission expenses rose by 8% to Rs 27 crore, while other costs added Rs 34 crore. Overall, total expenses grew by 38.5% to Rs 588 crore in FY24 from Rs 424.7 crore in FY23. The two-fold jump in employee benefits led FabHotel to increase its losses by 23% to Rs 114 crore in FY24, compared to Rs 93 crore in FY23. Its ROCE and EBITDA Margin were recorded at -84.09% and -19.52%, respectively. On a unit basis, the company spent Rs 1.06 to earn a rupee of revenue. At the end of FY24, FabHotel’s current assets stood at Rs 172 crore, including cash and bank balances worth Rs 94 crore. FabHotel has raised around $70 million to date. Accel is the largest external stakeholder with 21.39% followed by Goldman Sachs. FabHotels competes directly with Treebo and Bloom Hotels. In FY24, Treebo surpassed Rs 100 crore in revenue, while Bloom Hotels achieved a 73.6% increase in operational revenue to Rs 250 crore and recorded a profit of Rs 14 crore. FabHotels, with its budget offerings and reach, faces a moment of truth to deliver sustainable profitability that can power future growth. The hospitality sector leaves very little margin for major misses now. FabHotels has placed its bets, with little leeway to change much now. Judgement awaits in the next few months and year, perhaps.

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.

CitiusTech’s revenue crosses Rs 3,500 Cr in FY23; profit tanks 85%

EntrackrEntrackr · 1y ago
CitiusTech’s revenue crosses Rs 3,500 Cr in FY23; profit tanks 85%
Medial

B2B health tech platform CitiusTech has grown steadily over the past few fiscal years. The company recently claimed that it clocked $500 million revenue during FY24 which seems plausible considering its FY23 numbers. CitiusTech’s revenue from operations grew 40% to Rs 3,499 crore in FY23 from Rs 2,499 in FY22, its consolidated financial statements filed with the Registrar of Companies (RoC) show. CitiusTech is a healthcare technology service and solutions provider which offers consulting, engineering, manufacturing and data oriented softwares to large hospitals and healthcare organizations. The sale of its software development, implementation, and support services comprised 97% of the company’s total revenue while the remaining income came from the sale and maintenance of software licenses. CitiusTech also made Rs 63 crore from non-operating activities which helped it post Rs 3,561 crore in total revenue during FY23. Similar to other technology-driven companies, its employee benefits formed 74% of the overall expenditure. This cost grew by 42.5% to Rs 2,137 crore in FY23 from Rs 1,500 crore in FY22. The firm’s burn on traveling, legal, training, consultancy, advertising, software cum licensing, and other overheads took its overall cost up by 38% to Rs 2,873 crore in FY23 from Rs 2,082 crore in FY22. See TheKredible for the detailed expenditure. Expenses Breakdown Total ₹ 2,082 Cr https://thekredible.com/company/citiustech/financials View Full Data To access complete data, visithttps://thekredible.com/company/citiustech/financials Total ₹ 2,873 Cr https://thekredible.com/company/citiustech/financials View Full Data To access complete data, visithttps://thekredible.com/company/citiustech/financials Employee benefit Employee benefit Travelling conveyance Travelling conveyance Legal professional Legal professional Training recruitment Training recruitment Consultancy charges Consultancy charges Sales and marketing Sales and marketing Software and license Software and license Others To check complete Expense Breakdown visit thekredible.com View full data The significant rise in its employee benefits and consultancy led profits decline by 84.7% to Rs 56 crore in FY23 from Rs 365 crore in FY22. Its ROCE and EBITDA margins stood at 6% and 6.5%, respectively. On a unit level, it spent Rs 0.82 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin 19% 6.5% Expense/₹ of Op Revenue ₹0.83 ₹0.82 ROCE 24% 6% The healthcare-focused firm ticks all the right boxes when it comes to operations, from a global outlook, to a legacy of experience(especially important in healthcare), marquee clients and a demonstrated ability to adapt. CitiusTech seems well placed for an IPO at some stage, in India or outside, and could well be a very enticing acquisition target as well.

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