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Zoho-backed Ultraviolette reports Rs 32 Cr revenue and Rs 116 Cr loss in FY25

EntrackrEntrackr · 10d ago
Zoho-backed Ultraviolette reports Rs 32 Cr revenue and Rs 116 Cr loss in FY25
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Zoho-backed Ultraviolette reports Rs 32 Cr revenue and Rs 116 Cr loss in FY25 Electric mobility firm Ultraviolette Automotive grew its operating scale by 115% in the fiscal year ending March 2025. However, its losses also rose 88% and crossed the Rs 115 crore threshold during the same period due to a more than 2X surge in the cost of parts, batteries, and other inputs. The company’s revenue from operations grew to Rs 32.3 crore in FY25 from Rs 15 crore in FY24, according to its annual financial statements sourced from the Registrar of Companies (RoC). Founded in 2015 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette designs performance-oriented, aspirational EV two-wheelers. Revenue from the sale of these two-wheeler vehicles was the major source of revenue for the company during the last fiscal year. According to Vahan data, the company has sold a total of 547 vehicles in FY25. The cost of materials was not the primary expenditure for the two-wheeler manufacturer. Instead, employee benefit expenses emerged as the largest cost driver, making up 31% of the total expenses. This cost rose 28% to Rs 59 crore in FY25. The company also spent Rs 7.6 crore in research and development and Rs 7 crore in IT expenses in the same period. Cost of material, however, jumped 2.2X to Rs 33 crore in FY25 from Rs 15 crore in FY24, while advertising spiked 4.8X to Rs 29 crore in FY25. The company’s depreciation stood at Rs 27.5 crore. Overall, total expenses rose 77% to Rs 189 crore in FY25 from Rs 107 crore in the previous year. With expenses far outpacing revenue growth, Ultraviolette’s net loss increased 88% to Rs 116 crore in FY25 from Rs 61.6 crore in FY24. Its ROCE and EBITDA margin widened to -40.88% and -396.75% respectively. On a unit basis, the firm spent Rs 5.85 to earn a rupee in FY25, an improvement from Rs 7.13 spent per rupee of revenue in the previous year. Ultraviolette closed the fiscal with Rs 46 crore in cash and bank balances and current assets worth Rs 170 crore. According to TheKredible, Ultraviolette has raised a total of $100 million of funding till date, having TVS Motor Company and Mudhal Partners as its lead investors. The company’s co-founders Narayan Subramaniam and Niraj Rajmohan together own 29% of the company.

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Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25

EntrackrEntrackr · 5d ago
Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25
Medial

Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25 Distribution and supply chain platform Ripplr posted nearly three-fold GMV growth in FY24. However, its growth momentum slowed sharply as it barely achieved double-digit growth in the last fiscal year. Ripplr’s gross revenue grew by 13% to Rs 1,164 crore in FY25 from Rs 1,028 crore in FY24, according to its annual financial statement. For the uninitiated, Ripplr offers a plug-and-play distribution network as a service to digitize and manage brand operations. Goods sales accounted for 92% of Ripplr's total gross revenue, which increased by 14% year-on-year to Rs 1,068 crore in FY25. Income from logistics and warehousing were other revenue drivers for the 3One4 Capital-backed firm. Cost of materials remained the largest expense for the company which formed nearly 81% of total expenditure and rose 14.5% to Rs 1,018 crore in FY25 from Rs 889 crore in FY24. However, its employee benefit expenses declined sharply by 33% to Rs 40 crore in FY25 from Rs 60 crore in FY24. Depreciation, finance costs, and professional fees collectively added another Rs 32.5 crore while other expenses, covering logistics, store operations, and miscellaneous overheads, rose 14.5% to Rs 169.5 crore. Overall, Ripple’s total expenses increased 12% to Rs 1,260 crore in FY25. Ripplr posted a loss of Rs 91 crore in FY25, almost identical to Rs 90 crore it lost in FY24. The firm’s ROCE and EBITDA margin improved slightly to -30% and -5.88% respectively. On a unit level, Ripplr spent Rs 1.08 to earn a rupee of operating revenue in FY25, compared to Rs 1.10 in the previous fiscal. The Bengaluru-based firm recorded cash and bank balances of Rs 63 crore, while current assets rose to Rs 381 crore in FY25. Ripplr is reportedly in discussions to raise Rs 400 crore from SBI and existing investors. Before this, the company raised over $45 million. According to startup data intelligence platform TheKredible, Sojitz Corporation and 3One4 Capital are their notable investors.

Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25

EntrackrEntrackr · 1m ago
Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25
Medial

Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25 Innoviti Technologies reported 35% year-on-year revenue growth for the fiscal year ending March 2025. However, its losses remained high at Rs 62 crore, despite an 11% YoY reduction in FY25. The company’s operating revenue increased to Rs 143 crore in FY25 from Rs 106 crore in FY24, according to its financial statement sourced from the Registrar of Companies (RoC). Innoviti provided payment gateway and PoS devices to merchants for processing online and card-based payments. Service fees from these offerings contributed 86% of its revenue, which rose 47% to Rs 123 crore in FY25 from Rs 84 crore in FY24. The remaining 14% came from lease rentals, which stood at Rs 19 crore during the same period. Including other non-operating activities such as treasury gains, its total income rose marginally to Rs 144 crore during FY25. Innoviti’s total expenses grew 15% to Rs 207 crore in FY25 from Rs 180 crore a year ago, largely guided by a sharp increase in subvention and service fees which accounted for 40% of the total cost. This cost surged 88% to Rs 82.5 crore in FY25 from Rs 44 crore in FY24. Employee benefit expenses, however, declined 19% to Rs 43 crore in FY25 from Rs 53 crore in FY24. On the other hand, depreciation costs rose 32% YoY to Rs 33 crore from Rs 25 crore in FY24. Other expenses, sub-contractor charges and overheads added the rest Rs 49 crore. In the end, Innoviti narrowed its net loss by 11% to Rs 62 crore in FY25, against Rs 70 crore in FY24. The company’s EBITDA loss stood at Rs 26 crore with EBITDA margin improving to -18.2% from -32.1%. Its ROCE margin stood at -62.77% in the same period. On the balance sheet front, Innoviti’s total assets remained stable at Rs 128 crore, with current assets of Rs 100 crore in FY25, including Rs 41 crore in cash and bank balances. According to startup data intelligence platform TheKredible, Innoviti has raised a total of $158 million of funding till date, having Bessemer Venture Partners and FMO as its lead investors. The Noida-based company’s founder Rajeev Agrawal owns 10% of the company. Earlier this year, Agrawal said the company aimed to achieve operating profitability within the next two quarters. He also mentioned that IPO planning had begun, with a target to go public within the next 12 months.

Electric bike startup Ultraviolette to secure fresh funds in ongoing round

EntrackrEntrackr · 7m ago
Electric bike startup Ultraviolette to secure fresh funds in ongoing round
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Electric bike startup Ultraviolette Automotive is set to raise Rs 32.6 crore ($3.85 million) in an extended Series E1 round led by Winever Industrial Enterprises and Dilip Anand Swadi with the participation of Breathe Capital and others. This round is an extension to its previous Rs 130 crore round led by Zoho Corporation raised in December last year. The board at Ultraviolette passed a resolution to issue 1,13,540 Series E1 CCPS at an issue price of Rs 2,874 to raise the aforementioned amount, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Winever Industrial Enterprises and Dilip Anand Swadi will lead the round with investments of Rs 10 crore each, while Breathe Capital will contribute Rs 6 crore. Twin & Bull Family Office and Mangalam Equity Management will invest Rs 2.5 crore and Rs 2 crore, respectively. Resolute Futurewave and Aprameya Radhakrishna (Co-founder and CEO of Koo) will each invest Rs 1 crore. As per Entrackr’s estimates, the company will be valued at Rs 2,887 crore (approximately $340 million) post-allotment. Founded in 2016, Ultraviolette Automotive is a two-wheeler manufacturer focused on clean energy and sustainable transportation. The company currently offers four electric bike variants: F77 Mach 2, F77 SuperStreet, Tesseract, and Shockwave. According to Vahan’s data, the Bengaluru-based company sold 543 vehicles in FY25 and 86 vehicles in April. Meanwhile, its lead investor, TVS Motor, emerged as the leader in India’s electric two-wheeler (E2W) market for April 2025, selling 19,736 units and capturing a 22% market share. According to startup data intelligence platform TheKredible, Ultraviolette Automotive has raised around $79 million to date from investors including TVS Motors, Mudhal Partners, Zoho Corporation, and others. For the fiscal year ended March 2024, the company reported an operating revenue of Rs 15 crore against Rs 8.7 crore in FY23. During the same period, Ultraviolette incurred a loss of Rs 61.6 crore.

Smartworks clocks Rs 1,374 Cr revenue and Rs 62 Cr loss in FY25

EntrackrEntrackr · 4m ago
Smartworks clocks Rs 1,374 Cr revenue and Rs 62 Cr loss in FY25
Medial

Smartworks, a leading managed workspace platform, reported a 32% growth in operating revenue to Rs 1,374 crore in FY25. However, despite the strong topline growth, the company’s losses widened 26% in FY25. Smartworks’ revenue from operations increased by 32% to Rs 1374 crore in FY25 from Rs 1039 crore in FY24, according to its financial statement sourced from RHP. SmartWorks provides flexible office space for large enterprises, SMEs, and high-growth startups and leverages its robust phygital platform to deliver fully serviced, tech-enabled, flexible, and affordable workspaces. Lease rentals accounted for over 93% of its operating revenue, which rose by 29% to Rs 1,289 crore in FY25. Other sources included design and fit-out services at Rs 35 crore, ancillary services at Rs 49 crore, and a marginal Rs 1 crore from software fees. Smartworks added another Rs 36 crore from non-operating sources, which pushed its total revenue to Rs 1410 crore in FY25. On the expense side, the largest cost head was depreciation, which increased 35% to Rs 636 crore, followed by operating expenses of Rs 416 crore. Finance costs remained relatively stable at Rs 336 crore, while employee benefit expenses rose to Rs 65 crore. Overall, total expenses increased by 26% to Rs 1,489 crore in FY25 from Rs 1,180 crore in FY24. Despite revenue growth, the company’s loss increased by 26% to Rs 63 crore in FY25 as compared to Rs 50 crore in FY24. However, the company reported a positive EBITDA of Rs 893 crore in FY25 with an EBITDA margin of 63.3% and ROCE of 7.48%. On a unit level, Smartworks spent Rs 1.08 to earn a rupee of operating revenue in FY25, marginally better than the previous year’s ratio of Rs 1.14. The Gurugram-based company reported current assets worth Rs 255 crore in FY25, including Rs 69 crore in cash and bank balances. Smartworks is heading to the public markets with its Rs 583 crore IPO opening on July 10 and closing on July 14, 2025. The company has set a price band of Rs 387 to Rs 407 per share with a lot size of 36 shares, requiring a minimum investment of Rs 14,652 for retail investors.

Tata 1mg revenue nears Rs 2,400 Cr in FY25, trims losses

EntrackrEntrackr · 4m ago
Tata 1mg revenue nears Rs 2,400 Cr in FY25, trims losses
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Tata 1mg, the digital healthcare platform backed by Tata Digital, continued its growth trajectory in the fiscal year ending March 2025 while straining its losses. Tata 1mg’s consolidated revenue rose 22% to Rs 2,392 crore in FY25 from Rs 1,968 crore in FY24, according to Tata Sons’ Annual Report for the fiscal year. Tata 1mg is a health tech startup for online orders of allopathic, ayurvedic, homeopathic medicines, vitamins, nutrition supplements, and other health products, delivered to the home. 1mg’s revenue was split across two entities: Tata 1mg Technologies, which clocked Rs 2,016.5 crore, and Tata 1mg Healthcare Solutions, which contributed Rs 375.5 crore in FY25. The company's total cost rose by 17% to Rs 2682 crore in FY25, up from Rs 2303 crore in FY24. The Gurugram-based company posted a consolidated loss of Rs 276 crore in FY25, 12% lower than the Rs 313 crore loss reported in FY24. On a unit basis, the company spent Rs 1.12 to earn a rupee of operating revenue in FY25. On the asset side, Tata 1mg reported total assets of Rs 2,025 crore at the end of FY25 while its total liabilities reached Rs 1,190 crore. In the e-health space, Tata 1mg competes with Reliance-backed Netmeds, PharmEasy, and Apollo 24/7. Tata Digital acquired a 55% stake in 1mg in June 2021 but has since gained around 8.5% additional stake in the e-medicine platform. According to TheKredible, Tata Digital currently holds a 63.5% stake in 1mg, which was last valued at 1.25 billion. Tata Digital reported a standalone revenue of Rs 546.9 crore and a loss of Rs 827.5 crore in FY25, indicating continued investment in its digital commerce bets including 1mg and other verticals such as BigBasket, Cult.fit, and the recently launched Tata Neu.

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%

EntrackrEntrackr · 6m ago
Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%
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Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6% Logistics company Delhivery announced its Q4 FY25 results on Friday, reporting a 6% year-on-year increase in revenue. The Gurugram-based firm also reported a profit of Rs 72 crore during the same period. Delhivery’s revenue from operations grew to Rs 2,191 crore in Q4 FY25, according to its financial statements filed with the National Stock Exchange (NSE). For the full fiscal year (FY25), Delhivery’s operating revenue increased 10% to Rs 8,932 crore in FY25 from Rs 8,141 crore in FY24. Delhivery's primary revenue sources were its logistics services, including warehousing, last-mile logistics, and designing and deploying logistics management systems. The firm also earned Rs 112 crore from non-operating activities, bringing its total revenue to Rs 2,303 crore in Q4 FY25. Meanwhile, for the full fiscal year, total income reached Rs 9,372 crore. For Delhivery, freight handling and servicing costs made up 70% of its total expenditure, rising by 3% to Rs 1,566 crore in Q4 FY25. Employee benefit expenses decreased by 6% to Rs 337 crore. Legal, depreciation, and other overhead costs contributed to a minor decrease in overall expenditure, which reached Rs 2,249 crore during the quarter. For the full financial year ending March 2025, the firm’s total expenses rose to Rs 9,217 crore as against Rs 8,825 crore in FY24. Delhivery's continued growth and controlled expenditure resulted in a profit of Rs 72 crore in Q4 FY25, compared to a loss of Rs 68 crore in Q4 FY24. On a fiscal basis, it turned profitable and reported a net profit of Rs 162 crore in FY25 as compared to a loss of Rs 249 crore in FY24. At the close of today’s trading session, Delhivery’s share price stood at Rs 321 per share, giving the company a market capitalization of Rs 23,957 crore.

Yubi records Rs 660 Cr revenue in FY25; adjusted EBITDA improves 55%

EntrackrEntrackr · 1m ago
Yubi records Rs 660 Cr revenue in FY25; adjusted EBITDA improves 55%
Medial

Yubi records Rs 660 Cr revenue in FY25; adjusted EBITDA improves 55% Fintech company Yubi (formerly CredAvenue) saw a 36% year-on-year growth in operating revenue in FY25 and improved its profitability metrics. Significantly, the Chennai-based company reduced its adjusted EBITDA losses by 55% in the fiscal year ended March 2025. According to its consolidated annual financial statements sourced from the Registrar of Companies (RoC), Yubi’s revenue from operations rose to Rs 660 crore in FY25 from Rs 484 crore in FY24. Yubi operates as a debt marketplace and infrastructure platform, connecting enterprises with banks and NBFCs for term loans, working capital, and other debt products. Transaction fees from successful loan closures remained the major revenue driver, contributing 48% of total operating revenue, which surged 55% to Rs 318 crore in FY25. Other income streams included platform services of Rs 98 crore, collection services of Rs 181 crore, and corporate database services of Rs 66 crore. The Peak XV Partners-backed company also earned Rs 53 crore from bank deposits and interest income, taking its total income to Rs 713 crore in FY25, up from Rs 562 crore in FY24. With respect to expenses, employee benefits continued to be the largest cost component, forming around 40% of total expenditure, and rose to Rs 439 crore in FY25. This includes a non-cash ESOP expense of Rs 160 crore. Yubi’s information technology costs and sales & marketing expenses stood at Rs 103 crore and Rs 32 crore, respectively. The debt marketplace’s total expenditure increased to Rs 1,116 crore in FY25, compared to Rs 939 crore in FY24. Consequently, Yubi reported a net loss of Rs 416 crore for the fiscal year. However, after excluding non-cash items such as ESOP costs, depreciation, and loss of net fair value changes, its adjusted EBITDA improved by 55%, narrowing to Rs 68.83 crore in FY25 from Rs 155 crore in FY24. Operationally, Yubi claims its lending platform facilitates nearly 80,000 loan transactions daily. The company’s MENA region’s business grew 200% during the year, and it is now expanding into Southeast Asia while preparing to enter the U.S. market in the coming year. To date, Yubi has raised over $250 million, including a $135 million Series B round that brought it to unicorn status. The company counts Vivitri Capital, Peak XV Partners, TVS Capital, Lightspeed, B Capital, Lightrock, Insight Luxembourg, and others among its investors.

Furlenco turns around in FY25: Posts profit after Rs 130 Cr loss, revenue surges 65%

EntrackrEntrackr · 1m ago
Furlenco turns around in FY25: Posts profit after Rs 130 Cr loss, revenue surges 65%
Medial

Furlenco turns around in FY25: Posts profit after Rs 130 Cr loss, revenue surges 65% Furlenco managed 65% year-on-year revenue growth and kept tight control on expenses. As a result, Furlenco posted a Rs 3 crore profit after tax (PAT) in FY25, compared with a Rs 130 crore loss in FY24. After a tepid performance in the last fiscal year, subscription-based furniture rental firm Furlenco has made a notable comeback in FY25. The Bengaluru-based firm managed 65% year-on-year revenue growth and kept tight control on expenses. As a result, Furlenco posted a Rs 3 crore profit after tax (PAT) in FY25, compared with a Rs 130 crore loss in FY24. Furlenco’s revenue from operations grew to Rs 229 crore in FY25 from Rs 139 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Furlenco provides furniture and home decor for rent along with relocation services. Income from furniture rental services accounted for 91% of the operating revenue, which grew by 61% to Rs 208 crore in FY25. Income from the sale of products (furniture including sofas and beds), more than doubled to Rs 21 crore during the fiscal year ending March 2025. Including other non-operating activities such as treasury gains of Rs 11 crore, its total income rose to Rs 240 crore in FY25. The company streamlined its cost structure and reduced its total expense by 16% to Rs 237 crore in FY25 from Rs 282 crore in FY24. Employee benefits expenses decreased by 35% year-on-year to Rs 31 crore in FY25, while finance costs dropped 41% to Rs 19 crore in FY25. Cost of material, however, rose 33% to Rs 8 crore in FY25. Depreciation on the company’s furniture rose 29% to Rs 45 crore in FY25 from Rs 35 crore in FY24. With strong revenue growth and lower burn, Furlenco turned profitable and posted a profit of Rs 3 crore in FY25, in contrast to a loss of Rs 130 crore in FY24. Its ROCE and EBITDA margin improved significantly to 5.68% and 24.45%, respectively. On a per-unit basis, the firm spent Rs 1.03 to earn every rupee of operating revenue, compared to Rs 2.03 in FY24. Furlenco’s current assets stood at Rs 106 crore, including cash and bank balances of Rs 32 crore in FY25. According to startup data intelligence platform TheKredible, Furlenco has raised a total of $298 m in funding till date, with Sheela Foam and Lightbox Ventures as its lead investors. The company’s founder and chief executive, Ajith Mohan Karimpana owns 12% of the company. Furlenco certainly seems to have discovered a better playbook for its business, because numbers like these looked unlikely till last year. While the concept has certainly found takers, operating costs had been too high to offer hope of such a turnaround. So credit to the team for having pulled it off.

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