Gurugram-based food chain company Burger Singh recorded a revenue of Rs 58.9 crore in FY23, a spike over 97% as compared to the preceding year. It saw more than Rs 50 crore coming in from operations the same fiscal year. With a revenue of over Rs 20 crore in FY22, the food chain saw about 98% of its revenue coming in from operations.
Burger Singh, founded by trio Kabir Jeet Singh, Nitin Rana, and Rahul Seth, is an Indian based quick-service restaurant serving variety of burgers, sides, desserts, beverages etc. It has strong presence in West and North India with over 80 outlets in Delhi NCR, Lucknow, Jaipur, Dehradun, Jammu, Nagpur, Ahmedabad, and others with another 12 franchises under fit outs across the country.
Spending over Rs 25 crore on materials and close to Rs 12 crore on employee benefits, the 2013 established company saw a 1.9X growth in expenses in FY23, amounting to Rs 63.3 crore. In FY22 the company spent 2.1X lesser on cost of materials and 0.8X lesser on employee benefits.
Compared to FY22, the company saw losses touching Rs 4.4 crore in FY23. While EBITDA margins stood at -4.99%, the ROCE touched -18.23%.
Burger Singh raised a total of Rs 85.31 crore over 8 funding rounds. Its latest round was a per-Series B and was held on December 2023. It raised an undisclosed about with Turner Morrison as its lead investor. It had previously raised Rs 30 crore in 2022 from Negen Capital PMS, Rohit Khattar, RB Investments, and Rukam Capital among others.
Post the latest investment, founder Kabir Jeet Singh holds over 20% of the company shares, while investors RB Investments and Turner Morrison Ltd. Holds over 7% and 1% respectively.
Burger Singh competes against the likes of Veg Route, Storia, Jumboking, and Wat-a-burger.