Bengaluru-based company Akshayakalpa Organic’s revenue grew 67% to Rs 194.1 crore in FY23. The same year its revenue from operations contributed over Rs 191.5 crore to the overall revenue. The previous fiscal year, the company saw a revenue of over Rs 115 crore.
Founded by Shashi Kumar, Akshayakalpa is a certified organic dairy enterprise which uses the practices based in science and the traditional heritage of dairy farming. It delivers organic milk and related products such as ghee, cheese, butter, paneer, curd et al to consumers across Bengaluru, Hyderabad, and Chennai through its direct delivery platform. The company follows a farmer-first, planet-friendly approach to provide products that are nutritionally dense and free of antibiotics, chemicals, and preservatives.
The 2010 established company saw expenses amounting to Rs 230.4 crore with cost of materials crossing Rs 86 crore and close to Rs 45 crore being spent on employee benefits. The fiscal year saw expenses rising 1.7X when compared to FY22’s Rs 135.36 crore.
The organic dairy brand losses worth Rs 36.3 crore in FY23, a growth of about 87% as compared to the preceding year. Its EBITDA margin stood at a negative 15.77% and ROCE stood at -31.56%.
With a current valuation of Rs 590.4 crore, it has raised a total of Rs 303.4 crore over 9 funding rounds. Its latest Series C round raised around Rs 100 crore. The round was held on January 10, 2024, and was led by A91 Partners. The company previously raised a Series B round led by British International Investments, and Rainmatter Capital.
It is currently up against the likes of Milky Mist, Country Delight, and Farmery.