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BillDesk’s growth slows in FY24; PAT drops to Rs 121 Cr

EntrackrEntrackr · 6m ago
BillDesk’s growth slows in FY24; PAT drops to Rs 121 Cr
Medial

BillDesk’s revenue from operations decreased to Rs 2,334 crore during the fiscal year ending March 2024 from Rs 2678 crore in FY23, as per the company’s consolidated financial statements with the Registrar of Companies. BillDesk makes money by charging fees for processing and settling electronic transactions, which contributed over 70% of its total operating revenue of Rs 1,591 crore in FY24. Around 16% of its earnings came from managing loyalty programs for clients, while the remainder was generated through the sale of products such as PINS and e-top-up subscriptions, along with other operating activities. Billdesk earned Rs 112 crore in non-operating income from interest and gains on financial assets. Its total revenue stood at Rs 2,446 crore in FY24, down from Rs 2,765 crore in FY23. For the payment company, bank fees and services had been the largest cost center, accounting for 78.8% of the overall expenditure. In line with the drop in scale, this cost declined by 16% to Rs 1,804 crore in FY24. Despite the reduced scale, employee benefit expenses rose by 22.4% to Rs 300 crore. Spending on data, communication, legal, and information technology pushed the company’s total expenses to Rs 2,289 crore during the fiscal year. The decline in scale, coupled with higher employee expenses, led BillDesk to report a 14.8% drop in profit to Rs 121 crore in FY24 from Rs 142 crore in FY23. Its Return on Capital Employed (ROCE) and EBITDA margins also dipped slightly, settling at 5.77% and 9.24%, respectively. On a per-unit basis, the company spent Rs 0.98 to earn every rupee during the year. By the end of FY24, BillDesk's total current assets stood at Rs 2,612 crore, which included Rs 930 crore in cash and bank balances.

Rebel Foods growth slows in FY25, reports Rs 336 Cr loss

EntrackrEntrackr · 1d ago
Rebel Foods growth slows in FY25, reports Rs 336 Cr loss
Medial

url: https://entrackr.com/fintrackr/rebel-foods-growth-slows-in-fy25-reports-rs-336-cr-loss-10884067 Content: Cloud kitchen company Rebel Foods has been witnessing modest growth over the past couple of fiscal years. The Pune-based firm recorded a meagre 14% year-on-year rise in revenue during the fiscal year ending March 2025, while its losses declined by roughly the same proportion. Rebel Foods’ revenue from operations grew to Rs 1,617 crore in FY25 from Rs 1,420 crore in FY24, as per its consolidated financial statements filed with the Registrar of Companies (RoC). Rebel Foods operates brands like Faasos, The Biryani Life, Lunch Box, Over Story, The Good Bowl, Behrouz and others. The company derives the bulk of its revenue from the sale of food products, which accounted for 97% of operating revenue, climbing to Rs 1,565 crore in FY25. Income from services rose 6.5% to Rs 33 crore in FY25 from Rs 31 crore in FY24. Including non-operating revenue of Rs 41 crore, Rebel Foods’ total income stood at Rs 1,658 crore in the last fiscal year. The cost of materials was its largest expense, which grew 11% to Rs 678.5 crore in FY25 from Rs 613 crore in FY24, forming 34% of total expenses. Employee benefit expenses saw a marginal decline of 2% to Rs 388 crore, while advertising costs increased 14% to Rs 153 crore. Brokerage and commission expenses were up 6% to Rs 243 crore. Overall, the firm’s total costs rose 7% year-on-year to Rs 1,987 crore in FY25. With the help of revenue outpacing the company’s expenses, Rebel Foods managed to control its loss by nearly 12% to Rs 336 crore in FY25. Its ROCE and EBITDA margin improved to -35.93% and -10.39% respectively. On a unit level, Rebel Foods spent Rs 1.23 to earn a rupee of revenue in FY25, improving from Rs 1.31 in FY24. The company held cash and bank balances of Rs 56 crore at the end of March 2025, while its current assets stood at Rs 597 crore in the same period. According to startup data intelligence platform TheKredible, Rebel Foods has raised nearly $803 million of funding till date, having Peak XV Partners, Coatue, QIA and Lightbox as its lead investors. The continuing losses on moderating growth does not augur well for Rebel Foods, seen as a survivor from the pandemic shock to many cloud kitchen startups. Its travails reflect the bigger issues confronting Barbecue Nation or other listed firms in the category, with only Domino’s showing the resilience to keep growing profitably. We don’t see the situation improving significantly in the near future for the firm, which could portend significant restructuring and other changes to control costs further.

Ecommerce startup funding tanks 32% in 2023, D2C leads the show

Inc42Inc42 · 1y ago
Ecommerce startup funding tanks 32% in 2023, D2C leads the show
Medial

According to Inc42's Indian Startup Funding Report 2023, Indian ecommerce startups raised $2.6 billion in funding during the year, which is down 32% from the previous year. The funding decline was accompanied by a decrease in the number of deals, with the deal count dropping by 33.6%. However, despite this decline, ecommerce remained the top-funded sector in terms of the number of deals. Direct-to-consumer (D2C) brands played a significant role in the funding landscape, securing over half of the total ecommerce funding. Seed and growth stage startups were the most impacted, experiencing significant declines in funding. The report also highlighted the prospects of the D2C market and the success of D2C brands in India.

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