Udaan is an e-commerce startup and B2B platform with multi-category products. The platform offering various services reported a 1.7 percent increase in operational revenue to Rs 5,706.6 crore in FY24. The startup offers a platform that allows businesses and retailers to buy products online. It has a wide range of products, from groceries, hardware tools, baby care products to medicines.
The sales of these products are the company’s primary source of revenue. These sales represent 98% of the gross merchandise value. The startup offers a seamless user experience using advanced technologies. Entrackr mentioned in its report that the firm also earns income through interest on loans and services. The startup data intelligence platform, thekredible mentioned that these were some of the major income sources for the firm in this financial year.
The startup has secured over 1.88 billion USD across multiple funding rounds since its inception, including $35 million raised during its conventional debt funding round led by Stride Ventures, Innoven Capital, and others. The data intelligence platform, tracxn mentioned that the company’s post-money valuation is around 1.8 billion USD.
The Bengaluru-based startup provides home furnishing products, electronics, clothing, fashion accessories, and more. The B2B trade platform enables supply chain and logistic operations for SMEs across India. The application connects traders, retailers, and manufacturers.
The cost of materials increased by 4.2 percent to Rs 5,576.8 crore in FY24. The total expenditure of the firm also saw a decrease of 4.4 percent to Rs 7,407.6 crore in the same duration. Udaan offers an online platform to connect retailers and traders with buyers. Udaan serves over 30 lakh retailers and more than 25k sellers across 900 cities in India.
The company aims to improve its platform to position itself well in the global B2B e-commerce market. The employee benefits saw a decline of 35.4 percent while the legal and professional expenses decreased by 18.8 percent. The company controlled its losses by 19.4 percent to Rs 1,674.1 Crore this financial year through cost-cutting measures.
The company’s operating cash flow improved by 28 percent to Rs 920.5 crore in FY24. The EBITDA margin stood at -37.13 percent while the ROCE was around -169.05 percent in this fiscal year. Udaan faces competition from other B2B marketplaces offering multi-category products such as Moglix and IndiaMart.
Conclusion :
The Bengaluru-based e-commerce platform Udaan announced a 1.7 percent increase in its operational revenue to Rs 5,706.6 crore in FY24.
The loss also decreased by 19.4 percent to Rs 1,674.1 crore in FY24. The firm’s employee benefits decreased by 35.4 percent in the same duration. The startup minimized its loss by reducing operating and employee expenses.
This e-commerce platform provides multi-category products including electronics, medicines, clothing, and fashion accessories. The sale of these traded goods and interest on loans are the firm’s primary sources of revenue. Entrackr reported the development first. The company has raised around 1.88 billion USD across multiple funding rounds since its inception.
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