Myntra, which got acquired by Flipkart in May, 2014 has reported revenue figures of INR 773 crores against a loss of INR 740 crores for FY 14-15. Myntra is one of the leading fashion e-commerce portal in India and competes with the likes of Jabong, Fashion and You among others.

Financial Performance

Myntra is owned and operated by Myntra Designs Private Limited. The company reported a revenue growth of 78%, its revenue stood at INR 773 crores in FY 14-15 vis-à-vis INR 433 crores in FY 13-14.

The losses surged more than four folds from INR 173 crores in FY 13-14 to INR 740 crores in FY 14-15. In comparison, Jabong had reported a revenue of INR 1083 crores with a loss of INR 44 crores in the same period.

Myntra operates on an inventory-led model, and recognizes its revenue from the sale of goods through the website and the mobile app. It also realizes revenue from the technology solution services from operating the internet portal in the form of brand name license fees, technology license fees, domain name fees and service fees. Its revenue from operations was 96% of the total revenue.

The major expenses for the company as a percentage of the total expenses were purchase of stock-in-trade at 72%, Employee expense at 14% and advertising promotional expenses at 11%.

Interestingly, the employee expenses went up by 401% in the period. Following chart gives a break-up of the major expenses:

Funding

The company has raised a total funding of INR 1831 crores. However, the major funding came post acquisition when the company saw major investments from Flipkart of INR 1160 crores during June 2014 to June 2015.

About Myntra

Myntra was founded by Mukesh Bansal, Ashutosh Lawania and Vineet Saxena in 2007. It is an online e-commerce platform for fashion and lifestyle products including clothes, apparels and footwear and operates through an app-only model. Myntra, which specializes in fashion e-commerce, competes directly with Jabong, Yepme, Fashion and You and Limeroad in its category and indirectly with other E-commerce giants like Snapdeal and Amazon.

Myntra initially operated on a B2B model for on-demand personalization of gift items. In 2011 they shifted their focus on fashion and lifestyle products. In 2014, Myntra got acquired by Flipkart to keep players like Amazon and Snapdeal at bay. Founder and CEO, Mukesh Bansal, now heads Flipkart’s commerce platform and the ads business.

Myntra went app-only in May 2015but it seems that they have seen a decline in sales due to that. They recently announced that they clocked an annualized Gross Merchandise Value (GMV) of USD 800 million in January 2016 and are focusing on attaining positive gross profit and touching USD 1 Billion gross profit this year.

For Annual Reports, Balance Sheets, Profit & Loss, Company Research Reports, directors and other financial information on ALL Indian Companies, head over to www.tofler.in – Business Research Platform.

This article was originally published here by Team Tofler.

Author– Vishal, a Sci-fi enthusiast, engineer by mistake and writer by choice, combines his eye for numbers with a natural flair for storytelling to churn out Tofler’s blogs.

Editor –  Anchal, co-founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.

Tofler makes no claim of ownership or affiliation with any trademark / logo (REGISTERED OR UNREGISTERED) used in this article. Trademarks or logos, if any, published on this page belong to their respective owners.

Snapdeal, the second largest player in the Indian e-commerce industry, has reported a revenue of INR 938 crores with a loss of INR 1,319 crores in FY 14-15. Snapdeal is fighting it out in the Indian e-commerce sector with home grown Flipkart, which is currently the leader, and US e-com giant Amazon who entered the India market in 2013.

FINANCIAL PERFORMANCE
Jasper Infotech Private Limited, which owns and operates Snapdeal, reported its revenue at INR 938 crores out of which INR 766 crores is the revenue from operations. This is a 450% growth in the revenue from INR 168 crores (INR 154 crores from operations) last fiscal. Loss reported against this revenue is a staggering INR 1319 crores which is roughly five times than that in the previous fiscal.

Compared to this, one of their competitors Shopclues, which recently entered the coveted Unicorn club, had reported a revenue of INR 79 crores with a loss of INR 101 crores in the same period.

As one would guess, their biggest expense in the fiscal was on Advertising and Promotional expenses at INR 1060 crores. Out of this, INR 426 crores was ‘Advertising and Publicity Expense’, while the remaining INR 633 crores was ‘Business Promotion Expenses’. ‘Business Promotion Expenses’ could possibly pertain to various discount schemes offered on Snapdeal. Their Employee Benefit expense grew four fold from INR 87 crores to INR 367 crores. Here is a breakup of their expenses in the previous two fiscals:

Growth Story
Snapdeal was founded by Kunal Bahl and Rohit Bansal in 2010 as a daily deals site but expanded to become an online marketplace in 2011. According to their website, they currently have more than 12 million products listed from 150,000 sellers and they deliver to more than 5000 cities in India.

Snapdeal holds a market share of 32% of the Indian e-commerce industry compared to two of its biggest rivals Flipkart, which holds 44% and Amazon, which accounts for 15% of the total market.

In April of 2015, Snapdeal acquired Freecharge, a digital payments company to bolster their presence in Mobile payments space. The deal was rumoured to be in the region of $450 million through a mix of cash and equity.

FUNDING
Jasper has raised a total funding of INR 10,492 crores so far, according the documents filed with the Registrar of Companies. Out of this, INR 3,187 crores has come in after 31^st March, 2015 and INR 6,181 crores came in FY 14-15. This two figures account for roughly 90% of their total funding received so far. Snapdeal counts Chinese eCommerce major Alibaba, OEM phone manufacturer Foxconn and Japanese investment bank SoftBank among its largest investors.

Recent developments

In order to increase their topline, Snapdeal has been dabbling in various offbeat categories with mixed success. Last year, Snapdeal became the first eCommerce site to start selling Luxury Yachts online. With the success in Automobiles category, they launched Snapdeal Motors, where visitors could book vehicles online from auto majors like Hero Motocorp, Mahindra and Mahindra, Suzuki Motorcycles and Datsun.

Snapdeal also had some good success in Home buying space. Snapdeal had held the Diwali Home Buying fest from November 3 to November 9 last year and approximately 10,000 customers showed interest and registered on the website to buy homes online.

And, it’s not just Homes and Autos – Snapdeal has been successful in selling Maggi packets as well (after the ban had lifted) – They reportedly sold over 7,20,000 packs of Maggi Noodles in just 5 minutes!

Snapdeal has been experimenting a lot over the last 12 to 18 months in their quest to become India’s biggest eCommerce portal.

For Annual Reports, Balance Sheets, Profit & Loss, Company Research Reports, directors and other financial information on ALL Indian Companies, head over to www.tofler.in – Business Research Platform.

This article was originally published here by Team Tofler.

Author– Vishal, a Sci-fi enthusiast, engineer by mistake and writer by choice, combines his eye for numbers with a natural flair for storytelling to churn out Tofler’s blogs.

Editor –  Anchal, co-founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.

Tofler makes no claim of ownership or affiliation with any trademark / logo (REGISTERED OR UNREGISTERED) used in this article. Trademarks or logos, if any, published on this page belong to their respective owners.

The home furnishing industry in India is a great opportunity for companies to capture. Its market in India ispegged to be around USD 20 billion. Moreover, a large number of unorganized players exist who are not able to cater effectively to the demand due to logistics and infrastructure issues. This led to a number of start-ups in this space, backed by big VCs. One of them is the Goldman Sachs backed Pepperfry.

Pepperfry is a furniture and home décor marketplace, owned and operated by TrendSutra Platform Services Private Limited. This company is a wholly owned subsidiary of Trendsutra Cyprus Ltd., incorporated in Cyprus. It operates on a marketplace model and competes with Urban Ladder and Livspace in the furniture e-retail segment in India. Another key player in the segment is FabFurnish which operates on an inventory-led asset-heavy model.

Financial performance

The company reported a revenue of INR 25.3 crores in FY 14-15 against a loss of INR 88 crores. This is a revenue growth of more than 200% from INR 7.5 Crore in the previous fiscal. Losses nearly tripled from INR 30 crores in the previous fiscal.

In comparison, it close competitor Urban Ladder had reported a revenue of INR 19 crores and a loss of INR 58 crores in the same period.

In FY 14-15, Pepperfry‘s expense on ‘Advertisement and Business Promotional Expense’  shot up five times of that in FY 13-14. It was the largest head in their total expenses, accounting for about 60% of it. Employee benefit expenses stood at INR 15 crores, 13% of total and 1.5 times of that in the previous fiscal.

Pepperfry was founded by Ashish Shah and Ambareesh Murty (both former eBay employees), in July 2011.

According to their website, it covers more than 1000 cities in India, has more than 2 million registered users and more than 1000 merchants on its platform. They claim to have fulfilled more than a million orders. Pepperfry currently leads the online furniture market and sources most of its products from Jodhpur.

Pepperfry Funding

All of their funding has been routed through their holding company TrendSutra Cyprus ltd. Total funds of INR 433 crores have been infused into the company with latest being INR 179 crores in October 2015. In comparison, Urban Ladder has raised funds of INR 460 crores so far.

These companies are incurring huge Advertising and Promotion expenses, Pepperfry and Urban Ladder spent INR 68 crores and INR 40 crores, respectively on the same. For the time being it might be justified as the furniture e-tail market is in the early stage of growth and is yet to mature. They also offer heavy discounts to attract customers who have become accustomed to the offline unorganized retail sector. How long will this trend continue and when will these companies become profitable, if they do at all, is something that we will have to wait and watch out for.

For Annual Reports, Balance Sheets, Profit & Loss, Company Research Reports, directors and other financial information on ALL Indian Companies, head over to www.tofler.in – Business Research Platform.

This article was originally published here by Team Tofler.

Author– Vishal, a Sci-fi enthusiast, engineer by mistake and writer by choice, combines his eye for numbers with a natural flair for storytelling to churn out Tofler’s blogs.

Editor –  Anchal, co-founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.

Tofler makes no claim of ownership or affiliation with any trademark / logo (REGISTERED OR UNREGISTERED) used in this article. Trademarks or logos, if any, published on this page belong to their respective owners.

Swiggy, an online food-ordering and delivery start-up, is owned and operated by Bundl Technologies Private Limited. They have reported their results for the FY 14-15 and they are not much different from other online food ordering startups.

Financial Performance

The company reported revenue of INR 11.6 lacs against a loss of INR 2.1 crores. The revenue from operations stood at INR 7 lacs. The revenue comprises the delivery fees charged to restaurants and ‘e-commerce revenue’. The biggest expense for the company was the employee expense at INR 1.3 crores.

Swiggy mainly competes with Foodpanda, TinyOwl, Faaso’s and now Zomato, when it entered the food delivery segment last year. Following is a comparison of FY 14-15 revenue and PAT of ley players in food-tech. Zomato has not been included since it has primarily been a restaurant search and discovery platform and thus is not exactly comparable with the others.

Story so far

Swiggy was founded by Sriharsha Majety, Rahul Jaimini and Nandan Reddy in December, 2013 in Bengaluru and became operational in FY 14-15. It enlists restaurants from nearby location to the customers who can then select and place order through its app or the website. It has dedicated delivery personnel to pick up orders from restaurants and deliver them to the customers. Swiggy now has its operations in 8 cities across India.

Funding

Swiggy secured its first funding from SAIF Partners in January 2015 followed by a funding round of INR 100 crores in June. The company has raised a total funding of INR 113.6 crores so far, from SAIF Partners, Accel, Norwest Venture and Apoletto Asia. Here is a snapshot of total funding raised by Swiggy and its competitors in foodtech.

With most of the players at almost similar stages, there is no clear leader so far in the online food ordering space. Although Zomato is way ahead of anyone in the restaurant search and discovery space, they have only just begun their food ordering operations. A few of the players such as Dazo, Spponjoy, etc. have already shut shop and there could be more such cases or industry consolidation. With heavy funding, this sector has already garnered everybody’s attention and it would be interesting to see how the space emerges.

For Annual Reports, Balance Sheets, Profit & Loss, Company Research Reports, directors and other financial information on ALL Indian Companies, head over to www.tofler.in – Business Research Platform.

This article was originally published here by Team Tofler.

Author– Vishal, a Sci-fi enthusiast, engineer by mistake and writer by choice, combines his eye for numbers with a natural flair for storytelling to churn out Tofler’s blogs.

Editor –  Anchal, co-founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.

Tofler makes no claim of ownership or affiliation with any trademark / logo (REGISTERED OR UNREGISTERED) used in this article. Trademarks or logos, if any, published on this page belong to their respective owners.

MySmartPrice, which offers an online price comparison platform and recently raised $10 million from Accel and Helion, has reported a revenue of INR 16 crores in FY 14-15. The company is still in its early years and registered a growth of 255% over the previous fiscal.

MySmartPrice is owned and operated by MySmartPrice Web Technology Private Limited. It was founded by Sitakanta Ray and Sulakshan Kumar in 2011. It offers an online price comparison engine which enables the users to find prices as well as deals and offers from all major e-commerce stores in India. The site claims to be used by 4 million users every month across India. The company had raised INR 63 crores funding (INR 50 crores from Accel Partners and INR 13 crores from Helion Venture) in June 2015.

Financial performance of MySmartPrice

The company earned revenue of INR 15.9 crores in FY 2014-15 as against INR 4.5 crores in the previous financial year and registered a profit of INR 10 lacs compared to a loss of INR 38 lacs the previous fiscal. The following graph presents their revenue and profit/loss figures since their incorporation:

Around 80% of the revenue for the company comes in the form of affiliate income (commission from promoting affiliate products on the site) and 18% comes in from advertising and online directory services. The major expenses include employee expense (48%) and advertising and marketing expense (23%).

Multiple online ecommerce stores operate in the country and discounts galore, websites like MySmartPrice offer an easier way to access the products and discounts across various platforms. Their competitors include Junglee, Pricejugaad, Compareraja, BuySmaart, Shop Pirate, Buyhatke, Smartprix, Pricedekho among others. With their model shifting from price comparison across online platforms to including local retailers to list prices of their products, a new space seems to be emerging which would be something to watch out for.

This article was originally published here by Team Tofler.

Author– Vishal, a Sci-fi enthusiast, engineer by mistake and writer by choice, combines his eye for numbers with natural flair for storytelling to churn out Tofler’s blogs.

Editor –  Anchal, founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.

Shopclues reported its revenue figures for FY 2014-15 at INR 79.2 crores with a loss of INR 101 crores. This is a revenue growth of ~150% over INR 31.6 crores in the previous fiscal with a slightly higher increase in the loss figure (INR 38 crores loss in previous fiscal).

To put these numbers in perspective, this revenue is roughly half of what Snapdeal’s revenue (INR 168 Crores) was in FY13-14 and while the latter’s loss in the same year was about INR 265 Crores, slightly more than 2.5 times that of Shopclues’ loss this year.

About Shopclues

Shopclues (Clues Network Private Limited) was founded by Radhika Aggarwal, Sandeep Aggarwal and Sanjay Sethi in 2011. Shopclues.com is an online marketplace and provides a platform to buyers and sellers through their website. It operates in the Indian online retail industry which is dominated by major players like Amazon, Flipkart and Snapdeal.

Revenue Model

Shopclues offers the customers an online marketplace to purchase retail products, the charges for which contribute to its revenue.

Shopclues also offers advertisement and marketing services to the companies on its website. Its home page, category page, all brands page page, etc. are available to publish ads on. Also, it gives the option of email banners, custom designing of viral deals, sponsored listings as well as the option to insert marketing collateral, retail coupon or product samples in its shipping boxes.

Shopclues’ Revenue and Expenses

Around 64% of the revenue comes from the sale of services and 30% from advertising and marketing services. Advertisement and marketing services, which probably refers to the native ads service to sellers on their platform, has grown considerably in this fiscal and has increased its share in the revenue pie two folds. The following chart and table depict a breakup of their revenue:

[table id=6 /]

The biggest expense for the company is their shipment charges (33%). While the company spent only INR 2 crores on advertisements in FY13-14, this has gone considerably up – INR 25 Crores – in this year, probably attributable to use of mass media advertising channels such as television commercials. The following chart and table give a breakup of their major expense heads.

[table id=7 /]

Shopclues has been trying to differentiate itself in a market dominated by giants, by focusing on unstructured/ unorganized categories which contributes to roughly two-thirds of its gross merchandise sales unlike other marketplaces, which tend to focus on mobile, electronics, computers and branded fashion. They currently hold a market share of less than 10% in the segment.

This article was originally published here by Team Tofler.

Author– Vishal, a Sci-fi enthusiast, engineer by mistake and writer by choice, combines his eye for numbers with natural flair for storytelling to churn out Tofler’s blogs.

Editor –  Anchal, founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.

Born out of a requirement of higher online payment success rate, Citrus is a key player in the Payment Gateway industry. It competes with major players like BillDesk, TechProcess, CCAvenue, etc.

Citrus was co-founded by Satyen Kothari and Jitendra Gupta in 2011. It is engaged in the business of payment processing for credit cards, debit cards, bill payments, prepaid cards and all other kinds of payment instruments. The company has secured funding from Sequoia Capital and Ascent Capital. In this article, Tofler takes a look at their financial performance in FY 14-15.

Financial Performance of Citrus Payment

The company earned a revenue of INR 38 crores in FY 2014-15 as against INR 12 crores in FY 2013-14. Its revenue grew more than 3 times in this period. However, it incurred expenses to the tune of INR 53 crores in FY 14-15 and made a loss of INR 15 crores as compared to INR 4 crores the previous year. The losses grew more than 3 times.

The major source of revenue for the company is ‘commission fees’ at INR 36 crores and its biggest expense is the commission expense at INR 30 crores.

It might sound strange to a few readers that a Payment Gateway is in losses. One of the reasons of such losses could be extremely competitive pricing to achieve high growth and market penetration.

Brief explanation of Payment Gateway’s working model

Payment Gateways charge a transaction fee per transaction on its gateway (which contributes to the commission fees) and a monthly or annual maintenance fee from the merchants using it. They pay a part of the transaction fee (commission expenses)to the bank which holds the account from which payment is being made.

The following chart shows the flow of information through a Payment Gateway:

E-commerce is on the rise and the online payment requirements are set to increase. The Payment Gateway industry is set for enormous growth in the future in India. We wish Citrus good luck in the “war of the gateways”.

Author– Vishal, a Sci-fi enthusiast, engineer by mistake and writer by choice, combines his eye for numbers with natural flair for storytelling to churn out Tofler’s blogs.

Editor –  Anchal, founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.

The Real Estate sector is amongst the fastest growing sectors in India. Housing, a sub-sector of Real Estate, has understandably attracted a number of companies including a large number of Start-ups. In this article Tofler looks at the performance of one such start-up- CommonFloor. Tofler is the first to report the financial performance of CommonFloor in FY 2014-15.

Launched in 2008, CommonFloor is owned by the company maxHeap Technologies Private Limited. It was co-founded by Lalit Mangal, Sumit Jain and Vikas Malpani. CommonFloor offers an online service for property search to home buyers, sellers and real estate professionals.

Financial Performance of CommonFloor

The company has reported a revenue of INR 44.5 Crores in FY 2014-15 as compared to INR 25.7 Crores in FY 2013-14, a growth of 73%. However, it reported a loss of INR 86.2 Crores in FY 2014-15 as compared to a loss of INR 28.8 Crores the previous year.

CommonFloor targets a $25 Million revenue in the next two years. We wish them all the best in their future endeavors.

If you are curious about any Start-up / Company, you can get financial information about it at ww.tofler.in. You can also subscribe to this blog as we will continue to explore the financial performance of the Start-ups.

Author– Vishal, a recent addition to Team Tofler, combines his passion of writing with searching for a worthy story in a Company, to make an interesting read.

Editor –  Anchal, founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.

Hyper-local seems to be a buzz word in the Start-up ecosystem in India. So we decided to explore the performance of a key player in the space – Zopper. Zopper is a hyper-local mobile marketplace and helps users buy products from physical retail stores located near them. Tofler is the first to report the financial performance of Zopper in FY 2014-15.

Launched in 2010, Zopper is owned by Solvy Tech Solutions Private Limited. It was co-founded by Neeraj Jain and Surjendu Kuila.

Financial Performance of Zopper

The company reported revenue of INR 3.65 Crores in FY 2014-15 compared to INR 21 lacs in the previous financial year. It reported a loss of INR 12.6 crores in FY 2014-15 compared to a loss of INR 3 crores in FY 2013-14.

The company’s revenue grew 17 times in FY 2014-15. They recently raised $20 Mn from Tiger Global and Nirvana Ventures in June 2015. The company envisions to expand to 30 cities across India and we wish them all the best for the same.

If you are curious about any Start-up / Company, you can get financial information about it at ww.tofler.in. You can also subscribe to this blog as we will continue to explore the financial performance of the Start-ups.

Author– Vishal, a recent addition to Team Tofler, combines his passion of writing with searching for a worthy story in a Company, to make an interesting read.

Editor –  Anchal, founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.