Apna Mart's financial status hikes by 8 times & records 770% growth
Apna Mart, a retail grocery shopping firm based in Bengaluru succeeded to streamline its revenue by eight times during the ending of fiscal year 2023. But then again the growth was spurred by spending sturdy sources on manpower, brand promotions & employee beneficiaries.
According to the financial statement of the company, the revenue of Apna Mart from overall operations bumped into 770 percent to 
32. 2 crore during the financial year 2023 when compared to 3.7 crore in the financial year 2022.
32. 2 crore during the financial year 2023 when compared to 3.7 crore in the financial year 2022.
The total expenditure of the company in financial 2023 recorded 53.9 crore in FY23. Majorily they spent capital in the areas such as brand marketing, legal expenditure, manpower charges & other other operational costs of the company. To mention, in the FY22, the total expenditure og the company was 4 crore.
53.9 crore in FY23. Majorily they spent capital in the areas such as brand marketing, legal expenditure, manpower charges & other other operational costs of the company. To mention, in the FY22, the total expenditure og the company was 4 crore.
At the end, the bottomline of Apna Mart suffered with the effect of increasing expenses which resulted with a loss of 21.8 crore in FY23 over the profit of 8 lakh in FY22. Trailed by a hefty cash burn, the functional costs of the company gotten worse to 23.4 crore loss whereas the net cash flows raised at 1.8 crore. Also the company was under talks to elevate about $15-20 million funding from prominent investors such as Accel & Sequoia (Peak XV Partners).
21.8 crore in FY23 over the profit of 8 lakh in FY22. Trailed by a hefty cash burn, the functional costs of the company gotten worse to 23.4 crore loss whereas the net cash flows raised at 1.8 crore. Also the company was under talks to elevate about $15-20 million funding from prominent investors such as Accel & Sequoia (Peak XV Partners).
The current valuation of the startup stands at 397 crore.
397 crore.
Within this valuation of 397 crore & Rs 32 crore income from the functional operations, the overall revenue of the startup raised at 12.4 times.
397 crore & Rs 32 crore income from the functional operations, the overall revenue of the startup raised at 12.4 times.
At present, the Co-Founders of the company, Abhishek Singh & Chetan Garg holds a stake of 24.76 percent each. Followed by Peak XV Partners, Accel Partners is the leading stakeholder in the company.
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