B2B e-commerce platform ApnaKlub showcased robust growth in FY24, nearly doubling its gross revenue while effectively curbing its losses. For the fiscal year ending March 2024, the company reported a 14% reduction in losses, bringing the figure to just under Rs 50 crore.
The platform’s gross revenue surged to Rs 536.78 crore in FY24, up from Rs 278.32 crore in FY23. ApnaKlub, known for connecting FMCG brands with retailers and kirana stores, attributes its revenue boost to significant sales in various product categories.
In FY24, personal care products dominated the sales charts with Rs 250 crore, followed by beverages at Rs 95.34 crore. Home care and processed foods contributed Rs 82 crore and Rs 80.6 crore, respectively. Additionally, interest from long-term investments added Rs 5 crore, pushing the company’s total revenue to Rs 541 crore for the fiscal year.
Material costs represented a major portion of expenses, rising by 84.83% to Rs 508.05 crore. Employee benefits grew by 33.84% to Rs 31.6 crore, while transportation expenses increased by 41.56% to Rs 11.41 crore. Other expenses amounted to Rs 38.69 crore, leading to a total expenditure of Rs 589.75 crore—a 77.4% year-on-year increase.
Despite the expense surge, ApnaKlub successfully narrowed its net losses to Rs 47.93 crore in FY24, down from Rs 55.63 crore in FY23. Excluding ESOP costs, the adjusted loss stood at Rs 45.9 crore, with an EBITDA loss of Rs 44.7 crore and an adjusted EBITDA loss of Rs 42.63 crore.
The company recorded an ROCE of -79.36% and an EBITDA margin of -8.25%. It spent Rs 1.1 to generate a rupee of operating revenue, maintaining a cash balance of Rs 39.13 crore and current assets worth Rs 90.55 crore by year-end.
To date, ApnaKlub has raised Rs 190.78 crore (approximately $24.4 million) in funding from prominent investors such as Tiger Global, Blume Ventures, Whiteboard Capital, and Surge Ventures.
This steady growth trajectory underscores ApnaKlub’s resilience and its commitment to scaling operations while improving financial efficiency.