Noida-based AMPM recorded a 49.56% revenue growth in FY24, with earnings reaching Rs 39.35 crore, up from Rs 26.31 crore in FY23. Founded in 2002 by Priyanka Modi and Ankur Modi, the fashion brand offers a blend of classic and contemporary designs catering to women with multifaceted lives.
AMPM specializes in a range of clothing, including sarees, kurtas, anarkalis, and tunics, as well as accessories such as bags, shoes, and jewelry. With a design philosophy of “less is more,” Creative Director Priyanka Modi ensures the brand balances style and functionality for its audience.
Expenses increased by 47% in FY24, totaling Rs 40.38 crore, compared to Rs 27.47 crore in FY23. Despite higher spending, losses narrowed to Rs 56.57 lakh in FY24, from Rs 82.60 lakh in FY23. Employee benefit costs declined to 24.66% of expenses in FY24 from 28.47% in FY23, while material costs reduced to 16.28% from 22.04%. Marketing investments rose to 4.5% of expenses, up from 3.69% in FY23, indicating a push for brand visibility.
Operational metrics showed mixed results, with EBITDA margin slipping to 3.29% in FY24 from 3.67% in FY23. However, ROCE improved to 2.53% from 1.45%, reflecting better capital utilization.
AMPM is backed by Rs 20.62 crore in funding over two rounds, with the latest raised in March 2021. The shareholding structure is led by Priyanka Modi (21.87%) and Ankur Modi (19%), with the ESOP pool accounting for 6.56% and Ankur Modi HUF holding 2.87%.