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HomeDCGpac Reaches Profitability as FY24 Revenue Approaches Rs 100 Crore

DCGpac Reaches Profitability as FY24 Revenue Approaches Rs 100 Crore

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B2B packaging solutions provider DCGpac has reported a strong financial performance for the fiscal year ending March 2024, with revenue nearing Rs 100 crore. The Gurugram-based company, which raised Rs 20 crore in funding, also turned profitable during this period.

DCGpac’s operational revenue grew by 21.4%, reaching Rs 96.5 crore in FY24, up from Rs 79.5 crore in FY23, according to consolidated financial statements filed with the Registrar of Companies (RoC).

Specializing in a variety of packaging materials and services—such as corrugated boxes, courier bags, bubble films, designer packaging, and comprehensive “Design to Distribution” solutions—DCGpac generates its revenue solely through packaging sales. The company serves a wide customer base, including well-known names like Blinkit, Shiprocket, Delhivery, Myntra, DHL, and Shadowfax, according to its website.

Material costs represented 83.17% of DCGpac’s overall expenses, increasing by 19% to Rs 80.4 crore in FY24. Employee-related expenses were reported at Rs 8 crore for the fiscal year.

Other operational expenses—ranging from advertising and warehousing to IT services and packaging—rose by 17.9%, bringing total expenditures to Rs 96.7 crore, compared to Rs 82 crore in FY23.

Despite rising costs, DCGpac’s steady growth and efficient cost management enabled the company to turn a profit, posting net earnings of Rs 19 lakh in FY24, compared to a loss of Rs 1.67 crore in FY23. Its Return on Capital Employed (ROCE) and EBITDA margin stood at 3.34% and 1.19%, respectively. The company’s spending efficiency remained strong, spending Re 1 to generate Re 1 in operating revenue.

To date, DCGpac has raised Rs 20 crore, including a pre-Series Seed round of $1.5 million led by Venture Catalysts, 9Unicorns, and Inflection Point Ventures in April 2022.

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