who turned into a unicorn earlier this yearA senior company official told ET that the company’s revenue has grown 3.5 times to Rs 1,242.9 crore in the financial year ended March 31, 2021. This has come because of the increased demand from Tier I and Tier II cities across the country.
The company’s revenue stood at Rs 350.8 crore for the financial year ended March 31, 2020.
The startup expects a 5-fold growth in its revenue to Rs 6,670 crore for the current fiscal with the help of its private label business and B2B initiative, Souvik Sengupta, co-founder. infra.marketsaid in an exclusive conversation with ET.
The company’s earnings before interest, tax, depreciation and amortization stood at Rs 68.9 crore. FY 21 13.6 crore in FY20 as against Rs. Sengupta said, “We expect EBITDA to be around Rs 500 crore. “We anticipate 4x-5x growth in the next financial year, with most of it coming through our retail sector.
“As well as our growth, 70% of our products will be private label with high profitability,” he added.
The company’s profit after tax (PAT) increased four-fold to Rs 35.9 crore in FY21 from Rs 8.9 crore in FY10. Sengupta said it expects a substantial improvement in its profits and will close FY12 on a profit of around Rs 300 crore. “We will continue to focus on profitability as we look to build a profitable company that can consider an IPO in the next 24 to 30 months,” he added.
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Entered the Unicorn Club in February of this year With $100 million fundraising led by Tiger Global. it again
Raised $125 million from Tiger Global to raise its valuation to $2.5 billion.
Founded in 2016 by Sengupta and Aditya Sharda, Infra.Market leverages technology to provide a one-stop buying experience for all players in the manufacturing ecosystem. Infra.Market focuses on high volume manufacturing products under its own brands and aims to solve the current issues such as lack of price transparency, unreliable quality, fragmented vendor base and inefficient logistics.
The company caters to both institutional clients (B2B) and retail outlets in the building materials sector. It supplies to more than 10 states in India and exports to markets like Dubai, Singapore and Bangladesh.
“We have also increased our exports to a great extent. Now, international markets contribute about 20% of our business today. There is a global shift in supply chains towards India and we feel that we will continue to see substantial growth in international markets,” Sengupta said.
“We expect growth to continue in the next financial year, with new product categories and business segments such as our entry into retail with our own private label, driving both growth and profitability,” he added.