Paper Boat is an internet-first brand that announced a 16.1 percent increase in operational revenue to Rs 584.9 crore in FY24. The startup provides soft drinks and beverages. The firm also offers raw almonds, trail mixes, pistachios, and more. The platform provides a product catalog including packaged juices, traditional Indian snacks, dry fruits, and coconut water. The trade of these products is the company’s primary source of revenue and accounts for 52 percent of the total revenue.
The report by Entrackr mentioned that the firm also earns income through its own manufactured products which accounted for 48 percent of the total revenue. The sale of its products increased the revenue by 16 percent to Rs 304.3 crore in FY24. The overall revenue generated was around Rs 595 crore in this financial year. This includes money from interest income worth Rs 10 crore. The company has secured over $143 million across multiple funding rounds since its inception, including $50.2 million raised during its series D funding round led by Lathe Investment.
The startup data intelligence platform, thekredible mentioned that GIC is the company’s largest stakeholder with 25 percent of the firm’s stake. Sofina holds 18 percent followed by Peak XV partners with 18 percent of the total stake. The startup allows users to buy its products through quick-commerce platforms and offline stores. The cost of materials accounted for 63 percent of the total expenses and increased by 6.4 percent to Rs 404 crore in FY24. However, advertising, finance, marketing, and other expenditures stood at Rs 171 crore in the same duration.
The firm’s total expenses increased by 7.2 percent and stood at Rs 642.3 crore in FY24. The startup reported a 47.9 percent decrease in its losses of Rs 47.14 crore in the same duration. Meanwhile, the employee benefits increased by 22 percent to Rs 66.70 crore. The Bengaluru-based startup offers quality products while meeting market demands. The company intends to control its losses by reducing employee benefits.
The startup posted cash and bank balances of Rs 168 crore in this fiscal year with current assets of Rs 305 crore. The EBITDA margin stood at -5.63 percent while the ROCE was around -15.45 percent. Paper Boat faces competition from other internet-first brands offering soft drinks, nuts, and beverages such as Farmley.
Conclusion :
The soft drink and beverages offering firm, Paper Boat announced a 16.1 percent increase in its operational revenue to 584.9 crore in FY24. This startup provides dry fruits, Indian traditional snacks, packaged juices, and coconut water. The trade of these products and interest in income are the firm’s primary sources of revenue.
The firm’s loss slipped by 47.9 percent to Rs 47.14 crore in FY24. The total expenditure of the firm increased by 7.2 percent and crossed Rs 642.3 crore in the same duration. The employee benefits increased by 22 percent to Rs 66.70 crore in FY24. The company has secured over 143 million USD across multiple funding rounds to date.
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