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Mamaearth-parent Honasa posts Rs 533 Cr revenue in Q4 FY25; Profit falls 17%

EntrackrEntrackr · 2m ago
Mamaearth-parent Honasa posts Rs 533 Cr revenue in Q4 FY25; Profit falls 17%
Medial

Honasa Consumer Limited, the parent company of Mamaearth, has reported a 13% growth in scale, while its year-on-year (YoY) profits decreased by 17% during the same period. Honasa Consumer Limited, based in Gurugram, announced its financial results for the fourth quarter of the last fiscal year (Q4 FY25). The company reported a 13% growth in scale, while YoY profits decreased by 17%. Mamaearth’s Q4 FY25 revenue from operations increased 13% YoY to Rs 533 crore from Rs 471 crore in Q4 FY24. For the full fiscal year (FY25), operating revenue increased 8% to Rs 2,067 crore from Rs 1,920 crore in FY24. The company also added Rs 20 crore from non-operating activities, tallying its overall revenue to Rs 554 crore for Q4 FY25. For FY25, total income was Rs 2,146 crore. The cost of procurement accounted for 30% of the overall expenditure, increasing 11% YoY to Rs 156 crore in Q4 FY25 from Rs 141 crore in Q4 FY24. Spending on employee benefits, marketing, legal, rent, and other overheads led to a 16% YoY rise in total expenditure to Rs 522 crore in Q4 FY25 from Rs 451 crore in Q4 FY24. Total expenses for FY25 were Rs 2,056 crore. The company reported a profit after tax of Rs 25 crore in Q4 FY25, a 17% decrease from Rs 30 crore in Q4 FY24. Profit for FY25 decreased to Rs 73 crore compared to Rs 110 crore in FY24. Recently, the company elevated Karan Bajwa and Avinash Dhagat to CXO roles, following Anuja Mishra's (CMO) resignation. Mamaearth parent’s shares closed at Rs 275, with a marketing capitalization of Rs 8,944 crore ($1.04 billion).

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.

Value retail chain 1-India Family Mart raises $12 Mn in Series D round

EntrackrEntrackr · 2m ago
Value retail chain 1-India Family Mart raises $12 Mn in Series D round
Medial

Value retail chain 1-India Family Mart has raised $12 million in a Series D funding round, from a mix of existing and new investors. The round saw participation from Gulf Islamic Investments, Singapore-based Foundation Private Equity, Carpediem Capital Partners, Capri Global Holdings, a consortium of high-net-worth individuals, and promoter JP Shukla. Earlier, it had raised Rs 50 crore ($6 million) in Series B funding from Dubai-based Gulf Islamic Investments (GII). Mumbai-based ethnic apparel manufacturer Suumaya Industries had also picked up a minority stake in its parent company Nysaa Retail Pvt Ltd. The fresh proceeds will be utilized to support its next phase of growth, including the expansion of its retail footprint across India’s fast-evolving value retail segment, 1-India Family Mart said in a press release. Co-founded in 2012 by Jay Prakash Shukla and Ravinder Singh, 1-India Family Mart caters to underserved markets through mid-sized stores in tier III and IV towns and villages across India. The brand focuses on tier II, III, and IV cities and has allowed it to connect with India’s aspiring consumer base by offering affordable fashion, lifestyle products, and general merchandise through an organized retail format. 1-India Family Mart currently operates 65 stores across 10 states and continues to expand its presence, especially in North and East India. Its operations are supported by a centralized warehouse in Gurugram and a zero-reverse logistics policy that ensures all shipped inventory is sold—minimizing waste and maximizing operational efficiency. 1-India Family Mart says that it is committed to quality, competitive pricing, and a curated in-store experience and aspires to achieve Rs 600 crore in revenue and expand to 100 stores by 2029.

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