Cogos Technologies recorded a slight revenue decline of 5.5%, with FY24 revenue at Rs 56.13 crore compared to Rs 59.40 crore in FY23.
Founded in 2016 by Prasad Sreeram and Rama Mohan Katta, Bengaluru-based Cogos operates across 25 Indian states with ambitions to expand PAN India. It provides a one-stop solution for intra-city logistics, focusing on empowering truckers and optimizing supply chains through cutting-edge technologies.
The company has raised Rs 38.29 crore across six funding rounds, with the latest round in February 2023. Co-founders hold a significant stake, with Prasad Sreeram owning 30.96% and Rama Mohan Katta 15.14%. Institutional investors like Emergent Ventures India and Indian Angel Network also have stakes.
Expenses dropped marginally by 4.1%, from Rs 66.66 crore in FY23 to Rs 63.82 crore in FY24. Employee benefits constituted 13.32% of expenses, a slight decrease from 14.04% in FY23. Finance costs rose to 2.64%, reflecting increased reliance on debt financing.
The company’s loss widened by 12.3% to Rs 6.14 crore in FY24 from Rs 5.47 crore in FY23. EBITDA margins improved slightly to -9.65% in FY24 from -9.87% in FY23, though ROCE dipped to -56.71%, highlighting the strain on returns.