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Tractor Junction grows 3X in FY23, posts Rs 7.5 Cr losses

EntrackrEntrackr · 1y ago
Tractor Junction grows 3X in FY23, posts Rs 7.5 Cr losses
Medial

Rural vehicle marketplace Tractor Junction has managed to grow its scale by nearly three-fold during the last fiscal year (FY23). The byproduct of the fast-paced growth, however, is the five-year-old company slipping into red during the said period. Tractor Junction’s revenue from operations grew 196.2% to Rs 26.84 crore during the fiscal year ending March 2023 as compared to Rs 9.06 crore in FY22, as per the company’s consolidated annual financial statement with the Registrar of Companies. Launched by Shivani Gupta and Rajat Kumar, Tractor Junction is a rural vehicle marketplace that helps buy, sell, finance, and insure new and used tractors, farm equipment, and rural commercial vehicles. It also provides necessary information and vetted reviews on farm machinery, enabling users to compare shortlisted options, and bringing transparency in pricing. The company made 55% of its revenue from sale of tractors while the remaining came from the sale of services. The sales of services segment mainly deals in the business of providing advertising services to Original Equipment Manufacturers (OEMs) through generation of leads from their website and selling those leads to OEM’s. Tractor Junction also cornered Rs 1.75 crore via interest and gains on financial assets (non-operating revenue). Including this, the company’s total income stood at Rs 28.6 crore in FY23. Further, the Alwar-based company spent most on the cost of materials accounting for 42% of the total expenditure. This cost shot up over 20X to Rs 14.54 crore in FY23 from Rs 71 lakh in FY22. Employee benefit cost for the company jumped over 2X to Rs 9.35 crore during the last fiscal year. Moreover, advertising & publicity expenses also increased 56.1% to Rs 3.81 crore during FY23 from Rs 2.44 crore in FY22. Overall, the company’s total expenditure ballooned more than four-fold to Rs 34.67 crore in FY23 from Rs 8.28 crore in FY22. Head to startup intelligence platform TheKredible for complete expense breakdown and year-on-year financial performance of the company. On the back of rising expenses, the company slipped into red. Tractor Junction recorded Rs 7.46 crore losses in FY23 against Rs 67 lakh profit in FY22. The impact of cash burn can also be seen in operating cash outflows which climbed to around Rs 17 crore during the last fiscal year. FY22-FY23 FY22 FY23 EBITDA Margin 11.15% -19.41% Expense/Rupee of ops revenue ₹1.29 ₹0.91 ROCE 33.95% -15.36% The EBITDA margin and ROCE of the firm stood at -19.41% and -15.36%, respectively in FY23. On a unit level, Tractor Junction spent Rs 1.29 to earn a rupee of operating revenue during the fiscal year. As per TheKredible, Tractor Junction has raised nearly $6 million to date from investors including Info Edge, Omnivore, Rockstart and Indigram Labs et al.

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

EntrackrEntrackr · 1y 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.

Tractor Junction revenue crosses Rs 100 Cr in FY25

EntrackrEntrackr · 2m ago
Tractor Junction revenue crosses Rs 100 Cr in FY25
Medial

Tractor-focused marketplace Tractor Junction maintained a strong momentum in FY25, with operating revenue jumping 1.7X to cross the Rs 100 crore milestone, following a 2.3X jump in the previous fiscal year. Tractor Junction’s operating revenue surged over 70% to Rs 106.43 crore in FY25 from Rs 62 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Tractor Junction is a rural vehicle marketplace that facilitates buying, selling, financing, and insuring new and used tractors, farm equipment, and rural commercial vehicles. It also offers verified reviews and price comparisons to ensure transparency for users. Sales of tractors and equipment contributed 80% of Tractor Junction’s total revenue and rose nearly 90% to Rs 85.14 crore in FY25. The remaining Rs 21.29 crore came from services, including financing and other related offerings. The company claims that its financial services grew 10 times in FY25, and its used vehicle business grew 1.8 times, supported by 65 COCO outlets in Rajasthan, Madhya Pradesh, and Maharashtra. Tractor Junction also earned Rs 12.44 crore in non-operating revenue, including commission income and interest on fixed deposits, taking its total income to Rs 118.8 crore in FY25. The cost of materials accounted for 63% of total expenses which rose 86% to Rs 80.26 crore in FY25. Employee benefit expenses grew 47% to Rs 22 crore, while advertising, contract wages, RTO, insurance, and other costs drove total expenses up 75% to Rs 127.53 crore from Rs 72.7 crore in FY24. Tractor Junction’s total expenses grew faster than its revenue, primarily due to higher material costs, leading the Alwar-based company to post a loss of Rs 9.08 crore in FY25, which increased 2.5X from Rs 3.67 crore in FY24. Its EBITDA margin and ROCE stood at -18.03% and -70.3%, respectively. On a unit basis, it spent Rs 1.2 to earn a rupee of operating revenue in FY25. As of March 2025, the company’s current assets stood at Rs 70.43 crore, including cash and bank balances of Rs 13.76 crore. The company aims for another double-digit revenue growth in FY26, expand its COCO outlet network to 100, and focus more on profitability. According to startup data intelligence platform TheKredible, Tractor Junction has raised around $6 million to date, including a $5.7 million seed round in April 2022 co-led by Info Edge Ventures and Omnivore.

Ripplr posts Rs 740 Cr gross revenue in FY23; controls losses

EntrackrEntrackr · 1y ago
Ripplr posts Rs 740 Cr gross revenue in FY23; controls losses
Medial

Ripplr, a tech distribution and logistics platform secured $40 million in May 2023. The substantial funding was driven by its impressive 2.7X growth during the fiscal year ended March 2023. Moreover, the Bengaluru-based company also managed to reduce its losses by 32% in the same period. Ripplr’s gross revenue increased 2.7X to Rs 740 crore in FY23 from Rs 275 crore in FY22, its annual financial statements filed with the Registrar of Companies show. The four-year-old Ripplr offers a plug-and-play distribution network as a service (DaaS) to digitize and manage brand operations. It services over 80,000 tier 2-based retailers having partnerships with FMCG brands like HUL, Britannia, ITC, Nestle, Mondelez, Colgate Reckitt Benckiser, Godrej, Dabur, and Nivea, among others. Goods sales accounted for 89% of Ripplr’s total gross revenue, which surged threefold to Rs 656 crore in FY23. Income from logistics and warehousing were other revenue drivers for Ripplr. See TheKredible for the complete revenue breakdown. Coming over to the cost sheet, the cost of material consumed comprised 77.5% of the overall expenditure. This cost surged 3X to Rs 624 crore in FY23 from Rs 203 crore in FY22. Its employee benefits, rent, transportation, legal, subcontractors, and other overheads took the overall expenditure to Rs 805 crore in FY23 from Rs 285 crore in FY22. View TheKredible for the complete expense breakup. The 2.7X growth and controlled expenditure helped the Fireside Ventures-backed company to reduce its losses by 32% to Rs 62 crore in FY23 from Rs 91 crore in FY22. It’s ROCE and EBITDA margin stood at -29% and -7.4% respectively. On a unit level, it spent Rs 1.09 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -32% -7.4% Expense/₹ of Op Revenue ₹1.04 ₹1.09 ROCE -101% -29% Ripplr has raised over $50 million across rounds including its $40 million in a Series B round led by Fireside Ventures in May last year. According to the data intelligence platform TheKredible, 3One4 Capital is the largest external stakeholder with 17.87% followed byZephyr Peacock India and Sojitz Corporation. Focused on a critical if unloved area of the business, Ripplr’s offerings ensure that clients once onboarded stay for a long time. Considering the level of integration it offers with their distribution for instance with its DMS. That might mean longer sales cycles, but once in, a very sustainable model, intrinsically tied to the growth and well being of its clients. The current scale indicates the quality of headway it has made, which has clearly enthused its investors as well.

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

EntrackrEntrackr · 1y 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.

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