Coffee brand Beanly recorded a sharp rise in its scale to reach Rs 1.6 crore in the fiscal year ending March 2023. Close to 98% of the overall revenue of FY23 was contributed by operations.
The preceding fiscal recorded a revenue of Rs 3 lakhs with over 90% of it coming in from operations.
Based out of Delhi, Beanly is a coffee brand that sells its products through its own online website as well as through stores. Its products include instant, pour over coffee, nitro coffee can, cold chocolate, dibs among others.
The Samayesh Khanna and Rahul Jain founded company procured coffee from plantation spread across the country. The coffee is then brewed with nitrogen before it is canned.
The three-year-old firm’s expenses rose to Rs 1.7 crore in Fy23 as compared to FY22’s Rs 88,000. The fiscal’s major expense was employee benefits; it costed close to Rs 30 lakhs.
While the cost of materials took up close to Rs 9 lakhs, transportation and distribution costs amounted to Rs 6 lakhs.
The food and beverages company has secured over Rs 1 crore through its maiden round held in 2022. The round saw support from the likes of Audience Matters Media and Abhay Financial Consultancy.
Post the round, founders Rahul Jain and Samayesh Khanna were the largest shareholders with an equal number of shares each. Audience Matters Media Pvt Ltd was another significant shareholder.
Beanly recorded losses amounting to Rs 4.9 lakhs in FY23, an over three fold spike as compared to the preceding fiscal’s Rs 1.5 lakhs. Both its EBITDA margin and ROCE dropped to -3.65% and -3.65% respectively.