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Vahdam Teas narrows losses by 68% to Rs 18 Cr in FY24

EntrackrEntrackr · 6m ago
Vahdam Teas narrows losses by 68% to Rs 18 Cr in FY24
Medial

Direct-to-consumer (D2C) tea brand Vahdam experienced modest double-digit growth during the last fiscal year. Despite this, the company significantly improved its unit economics by reducing losses by 68%, bringing them down to under Rs 20 crore. Vahdam Teas’ revenue from operations grew by 10.6% to Rs 225.2 crore in FY24 from Rs 203.6 crore in FY23, as per its consolidated financial statement filed with the Registrar of Companies (RoC). Vahdam Teas directly sources premium tea and spices from farms and estates across India. It sells these products to customers both locally and internationally, including in the US, Canada, and Europe, through its own website and online marketplaces. Product sales contributed 99% of Vahdam's operating revenue. Geographically, the USA remained the primary revenue driver, accounting for 68.5% of the total operating revenue, with a 12% growth to Rs 154.2 crore. Revenue from India grew by 18% to Rs 14.84 crore, while Europe and the rest of the world contributed Rs 37.4 crore and Rs 18.8 crore, respectively, showing steady growth of 5-6%. The company made an additional Rs 10 crore from non-operating revenue, which pushed its total revenue to Rs 235 crore in FY24. On the expense side, Vahdam curtailed major costs. Advertising expenses, one of its significant outlays, were reduced by 18.9% to Rs 50 crore in FY24. Freight and forwarding charges also declined by 7% to Rs 68 crore. Meanwhile, the cost of materials remained stable at Rs 47 crore, and employee benefit expenses rose by 18.4% to Rs 29 crore. Other overheads stood at Rs 58.9 crore. Overall, the company's total expenses fell by 4.7% to Rs 253 crore in FY24, from Rs 265.5 crore in FY23. The Delhi based firm’s losses declined by 68% to Rs 17.7 crore in FY24 from Rs 55 crore in FY23. Its ROCE and EBITDA margin stood at -13.2% and -4.26%, respectively. Its expense-to-earning ratio stood at Rs 1.12. As of March 2024, the firm reported Rs 142 crore of current assets including Rs 83 crore of cash and bank balance. According to TheKredible, Vahdam Teas has raised a total of $39 million in funding till date, having Fireside Ventures, Sixth Sense Ventures and IIFL Asset Management as its lead investors.

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Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%

EntrackrEntrackr · 2m ago
Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%
Medial

Electric two-wheeler maker Ather Energy has announced its financial results for the fourth quarter of FY25. The company reported a 29% year-on-year jump in its operating revenue compared to Q4 FY24. Ather’s revenue from operations increased by 29% to Rs 676 crore in Q4 FY25, from Rs 523 crore in Q4 FY24, according to its consolidated quarterly report sourced from the National Stock Exchange (NSE). For the full fiscal year (FY25), Ather Energy’s operating revenue increased 29% to Rs 2,255 crore in FY25 from Rs 1,754 crore in FY24. The company’s cost of materials, driven primarily by battery and component procurement, increased by nearly 16% to Rs 564 crore in Q4 FY25 from Rs 488 crore in the same period last year. Employee benefit expenses saw a decline of 29% YoY to Rs 109 crore in Q4 FY25 compared to Rs 154 crore in Q4 FY24. Depreciation and amortization costs rose 18% to Rs 45 crore, while other operational costs jumped nearly 47% to Rs 204 crore. Overall, Ather’s total expenditure grew 13% to Rs 922 crore in Q4 FY25, up from Rs 819 crore in Q4 FY24. For the full financial year ending March 2025, total expenses rose to Rs 3,117 crore as against Rs 2,674 crore in FY24. As a result, the company’s net losses reduced by 17% to Rs 234 crore in Q4 FY25 from Rs 283 crore in Q4 FY24. On a fiscal basis, its net losses came down 23% to Rs 812 crore in FY25 from Rs 1,060 crore in FY24. Ather Energy made its stock market debut on May 6, 2025, listing at Rs 328 per share on the NSE—2.18% above its issue price of Rs 321. However, the stock closed the day at Rs 300. On Monday, it rose 2.8% to trade at Rs 308.7 before market close, bringing its total market capitalization to Rs 11,497 crore ($1.34 billion). Ather's competitor Ola Electric, which saw a nearly 20% decline in operating revenue during Q3 FY25, has yet to file Q4 results.

WheelsEye narrows losses by 71% to Rs 39 Cr in FY24

EntrackrEntrackr · 5m ago
WheelsEye narrows losses by 71% to Rs 39 Cr in FY24
Medial

WheelsEye narrows losses by 71% to Rs 39 Cr in FY24 Logistics SaaS firm WheelsEye experienced slower growth since FY22, with revenue growth flattening in FY24. The company reported a marginal 7% increase in revenue for the fiscal year ending March 2024 but successfully reduced its losses by 71% during the same period. WheelsEye’s revenue from operations grew to Rs 218.4 crore in the last fiscal year, from Rs 203.8 crore in FY23, according to its standalone financial statement sourced from the Registrar of Companies (RoC). WheelsEye provides trucking solutions for businesses and software, GPS tracking, and FASTag solutions for truck fleet operators. Revenue from the sale of services (trucking service) increased by 18.9% to Rs 129.6 crore, while revenue from the sale of products (software) grew by 7.85% to Rs 57.7 crore. Income from other sources added another Rs 31 crore. The company made an additional Rs 35 crore from interest income which pushed its total Income to Rs 253 crore in FY24. WheelsEye's largest cost component, employee benefit expenses, dropped by 28.72% to Rs 135 crore. The cost of materials increased slightly by 3.43% to Rs 93.6 crore, while commissions paid decreased by 9.64%, standing at Rs 7.5 crore. Miscellaneous expenses for the last fiscal year amounted to Rs 56.9 crore. In the end, WheelsEye managed to reduce its overall expenses by 17.23%, bringing them down to Rs 293 crore in FY24. This cost optimization contributed to a 71% reduction in net loss, with losses narrowing to Rs 39 crore in FY24. The company also reported improved financial ratios, with its ROCE improving to -44.85% and EBITDA margin rising to -13.76%. Cost efficiency improved as well, with the company spending Rs 1.34 to earn a rupee in FY24. On the asset side, WheelsEye recorded Rs 186 crore in current assets for FY24, which included Rs 142 crore in cash and bank balances. According to the startup data intelligence platform, TheKredible, Wheelseye's parent entity is situated in the USA holding 99.9% of the Indian entity with the name Wheelseye Technology INC. The reduction in losses would be a welcome development at WheelsEye, probably something that has caused the slowdown in growth as well. The effort indicates a push to seek public market access perhaps, even as the firm remains well placed to seek growth again soon. In the past year, seemingly improving efficiency in logistics has led to a slowdown in growth within many firms in the category, something that should correct soon for WheelsEye as well.

Practo delivers 3,500 Cr GMV in FY24; narrows EBITDA losses by 82%

EntrackrEntrackr · 6m ago
Practo delivers 3,500 Cr GMV in FY24; narrows EBITDA losses by 82%
Medial

Practo surpassed a GMV (gross merchandise value) of over Rs 3,500 crore in the fiscal year ending March 2024. The company also recorded a 22% year-on-year increase in operating revenue, while operating EBITDA losses reduced by 82% during FY24. Practo’s revenue from operations increased to Rs 240 crore in FY24, reflecting a 22% increase when compared to FY23, the company’s press release shows. Practo helps patients find and connect with the right healthcare providers. It is a platform to find quality & verified healthcare services enabling patients to make informed decisions through an array of processes such as audits of facilities, verification of doctors credentials, merit-based scoring system for providers, patient reviews etc. It also provides software for hospitals and clinics to improve the efficiency of facilities. According to the blog post on the company’s website, it has served over 54 million patients across 642 cities and has done more than 600 healthcare establishment (hospital) audits during the previous fiscal. Practo’s focused approach to its core India business resulted in a 68% CAGR (compound annual growth rate) between FY22 and FY24, while its contribution margin improved significantly, rising from -1% in FY22 to 40% in FY24, according to the press release. “Our goal has always been to improve healthcare outcomes while building a sustainable business. Our sharp focus on the core business has driven exceptional results. Practo is excited to continue this momentum, with ambitious plans for growth with profitability in the coming year”, Shashank ND, Co-founder and CEO, of Practo, added. The growth and controlled expenditure helped Practo to reduce its EBIDTA losses by 82% to Rs 17 crore in FY24 from Rs 99.4 crore in FY23. As per the company, the last quarter (Q4) of FY24 was profitable and claimed profitability over the preceding 12 months ending September 2024. Practo is also exploring global expansion to extend its healthcare services beyond India. Practo has raised a total of $179 million to date from investors including Peak XV Partners, Matrix Partners (Z47), Tencent, and AIA. It competes with Pristyn Care-owned Lybrate, Medibuddy, and Healthians, among others.

Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83%

EntrackrEntrackr · 3m ago
Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83%
Medial

Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83% Global edtech company Eruditus recorded modest year-on-year growth in its operating revenue, crossing the Rs 3,700 crore ($448 million) mark in the fiscal year ending June 2024. The Mumbai-based firm narrowed its losses by over 83% during the same period. Compared to FY23, the firm’s operating scale grew by 12% to Rs 3,733 crore, according to its annual financial statement sourced from Singapore. Eruditus follows a financial year that runs from July to June. The firm appears to be ahead of the leading edtechs, with revenue nearly 1.8 times that of PhysicsWallah and more than double that of upGrad. PhysicsWallah reported Rs 2,015 crore revenue in FY24 whereas upGrad registered Rs 1,487 crore revenue in the same period. Eruditus offers education across more than 80 countries to over a million learners. It partners with over 80 universities across the United States, Europe, Latin America, Southeast Asia, India, and China. The firm didn’t offer revenue break-up across geographies. The company deferred recognition of Rs 800 crore ($96 million) in collected revenue to the last fiscal year (FY25). Eruditus made progress in controlling its expenses as its marketing expenses dipped 18.85% year-on-year to Rs 1,007 crore in FY24 from Rs 1,241 crore in FY23. Other operating expenses were down by 32.16% year-on-year to Rs 1,045 crore in FY24 from Rs 1,541 crore in FY23. The cost optimizations led to a sharp improvement in the company’s bottom line. Eruditus narrowed its adjusted EBITDA losses by 83.45% to Rs 69 crore ($8.3 million) in FY24 from Rs 417 crore ($50 million) in FY23. With backing from investors such as TPG, the Chan Zuckerberg Initiative, SoftBank Vision Fund 2, Prosus Ventures, Accel, and Peak XV, Eruditus has the capital reserve to expand its presence and offerings across markets. In October 2024, it raised $150 million in the second-largest edtech deal of the year, after PhysicsWallah’s $210 million funding. With revenue approaching $500 million and an 83% reduction in losses, the company shows a path toward sustainable growth in the edtech industry. Heading into FY25 with deferred revenue, Eruditus is on track to achieve profitability while building on its revenue base.

VAHDAM India raises $3 Mn led by SIDBI Venture

EntrackrEntrackr · 3m ago
VAHDAM India raises $3 Mn led by SIDBI Venture
Medial

VAHDAM India raises $3 Mn led by SIDBI Venture Direct-to-consumer (D2C) tea brand VAHDAM India has raised $3 million (about Rs 25 crore) in funding from SIDBI Venture Capital. Prior to this, the company has raised over Rs 200 crore (approximately $25 million) in primary funding. The investment will further strengthen its balance sheet and cash reserves, VAHDAM India said in a press release. Founded in 2015 by Bala Sarda, VAHDAM India aims to build a homegrown Indian brand for the world, bringing India’s finest teas, herbs, and botanicals to global consumers. All of its products are sourced directly from partner farmers across India and manufactured at its own facility. The brand operates through wholly-owned subsidiaries in key markets such as the USA, Canada, the UK, and Europe. Over the past two years, VAHDAM India says that it has focused on reinforcing its core, optimizing product portfolio, and identifying key levers for scale. The company is also making significant investments in product innovation, R&D, and expanding our in-house manufacturing capabilities. With a sharper focus and a more resilient foundation, it aspires for sustained growth over the next three years. VAHDAM India claims that it is also set to close the current fiscal year with strong growth and positive EBITDA. The brand has been expanding its offline distribution network and has achieved a milestone by launching its teas & botanicals in over 2,000 Walmart stores across the U.S. For the financial year 2024-25, the company is on track to close with net revenues of more than Rs 265 crore and EBITDA profitability.

Redcliffe Labs crosses Rs 350 Cr revenue in FY24, narrows losses significantly

EntrackrEntrackr · 7m ago
Redcliffe Labs crosses Rs 350 Cr revenue in FY24, narrows losses significantly
Medial

Online diagnostic platform Redcliffe, backed by Leapfrog Investments, reported modest growth during the fiscal year ending March 2024, achieving a 28% reduction in losses, largely attributed to a significant cut in advertising and material costs. Redcliffe’s revenue from operations grew by 11% to Rs 348.38 crore in FY24 from Rs 313.86 crore in FY23, as per its consolidated financial statements sourced from the Registrar of Companies (RoC). Redcliffe Labs operates a network of laboratories specializing in pathological testing across various branches of biochemistry and radiology. Around 98% of its operating revenue came from these services, contributing Rs 341.02 crore in FY24. The sale of products and other operating income accounted for Rs 2.16 crore and Rs 5.20 crore, respectively, during the last fiscal year. The company’s total income crossed Rs 353 crore in FY24 with other non-operating income worth Rs 5.3 crore including interest income and excess provisions written back. The Noida-based company’s advertising costs fell by 45% to Rs 65.38 crore, and material costs, which declined by 15% to Rs 106.31 crore in FY24. However, there was a notable increase in laboratory test charges and depreciation costs which grew by 62.2% and 3X respectively. Overall, the company successfully controlled its total expenses, which dropped 14% to Rs 556.16 crore in FY24 from Rs 647.30 crore in FY23. In the end, the company managed to decrease its losses by 28% to Rs 250 crore in FY24 from Rs 345 crore in FY23. Its ROCE and EBITDA margin stood at -544.68% and -57.55%, respectively. On a unit basis, Redcliffe Labs spent Rs 1.6 to earn a rupee in FY24. Redcliffe recorded cash and bank balances of Rs 15.87 crore and had current assets worth Rs 89.64 crore as of FY24. According to TheKredible, Redcliffe Labs has amassed total funding of $113 million to date, including investments from LeapFrog. The company recently secured $42 million in a Series C funding round and acquired Bengaluru-based Celara Diagnostics for approximately $7 million. Entrackr exclusively reported the development. Among venture-funded companies, Redcliffe competes with PharmEasy-owned Thyrocare, Healthians, and 1mg. Tata 1mg’s revenue from operations increased to Rs 1,968 crore in FY24 from Rs 1,627 crore in FY23 while Healthians achieved EBITDA profitability with Rs 243 crore revenue in FY24. Thyrocare, which is a public company, reported 20% jump in revenue to Rs 177.4 crore in Q2 FY25 with a profit after tax of Rs 26.4 crore. While founded in 2018, Redcliffe Labs saw real interest, and backing for its plans in the year after Covid struck, when diagnostic labs were considered as good as money printing machines by some investors. That has meant the usual spike in funding, followed by the struggle we are seeing in the past two years, as momentum has all but died out, and much like edtech, the legacy players including hospitals have fought back to reclaim their space. On a smaller base as compared to its peers, Redcliffe’s topline growth remains unimpressive, and the bottomline pressure will continue to hurt. While it has done its own share of acquisitions to buy its way out of stagnation, that has clearly not worked, to no one’s surprise. The whole category faces a challenge of growth today, even if the overall size is much much larger than pre-2020, and looks set to remain that way. The only issue is the scramble for share among many more players, including those who raised money at hefty post-covid valuations, making growth difficult. Despite many promises, no firm has stood out for a breakthrough offering like faster speed, lower costs or specialised accurate diagnosis, to stand out. Fy25 promises to be yet another year of attrition, and for Redcliffe, the best hope might yet remain a respectable acquisition by a larger player, than trying to cut its own pathway ahead.

Redcliffe Labs posts Rs 419 Cr revenue in FY25; narrows EBITDA losses

EntrackrEntrackr · 9d ago
Redcliffe Labs posts Rs 419 Cr revenue in FY25; narrows EBITDA losses
Medial

Redcliffe Labs posts Rs 419 Cr revenue in FY25; narrows EBITDA losses Diagnostics platform Redcliffe Labs has posted a 20% increase in its operating revenue to Rs 419 crore in FY25 from Rs 350 crore in FY24 and managed to narrow its EBITDA losses, as per the company’s press release. Diagnostics platform Redcliffe Labs has posted a 20% increase in its operating revenue to Rs 419 crore in FY25 from Rs 350 crore in FY24, as per the company’s press release. The Gurugram-based firm also managed to reduce its EBITDA losses from -38% to -21% during the same period. Founded by Aditya Kandoi, Redcliffe operates a nationwide network of over 80 labs and claims to have the widest home sample collection footprint in the country. Diagnostic services contributed over 95% of the company’s revenue in FY25, with the rest coming from product sales and other operating income. The company said it diagnosed over 2.5 million cases last fiscal and continues to focus on expanding in underserved regions, with more than 70% of its testing volumes now coming from Tier II cities and beyond. On the profitability front, Redcliffe reported a gross margin of 70% in FY25 and is aiming to expand it to 74% in FY26. It has also set a revenue target of Rs 560 crore for the ongoing fiscal through organic growth and strategic acquisitions. “We are transforming lives and making diagnostics a first-line solution for millions who were previously underserved,” said Kandoi. The company plans to expand its presence to over 300 cities with 150 labs by FY28. According to startup data platform TheKredible, Redcliffe has raised $113 million to date, including a $42 million Series C round led by LeapFrog. It also acquired Bengaluru-based Celara Diagnostics in a $7 million deal. Redcliffe competes with players like PharmEasy-owned Thyrocare, Tata 1mg, and Healthians.

That Sassy Thing raises Rs 6 Cr in seed round led by IPV

EntrackrEntrackr · 3m ago
That Sassy Thing raises Rs 6 Cr in seed round led by IPV
Medial

That Sassy Thing, a women-first sexual wellness brand, has raised Rs 6 crore in its seed round led by Inflection Point Ventures (IPV). Other participants include Bala Sarda (Vahdam Teas), Saurabh Munjal (Lahori Zeera), Kirti Jangra (Animall Technologies), and Chandigarh Angels Network. Founded in 2021 by Sachee Malhotra and Himanshu Bhalla, the company offers products like full-body massagers, lubricants, and intimate washes. It also provides free sex education through online masterclasses. The proceeds will be used to expand product lines, improve brand positioning, and increase distribution through new channels. The startup claims to have seen 200% year-on-year growth and served over 50,000 customers across India. Products are available on their website and platforms like Blinkit, Zepto, and Swiggy Instamart, as well as select cafés in Delhi NCR. According to market research, the Indian sexual wellness market is expected to reach Rs 24,000 crore by 2030.

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