Bengaluru-based Meeraq, a learning and development (L&D) company, recorded a 55% growth in revenue in FY24, reaching Rs 8.77 crore, up from Rs 5.64 crore in FY23. The company’s flagship programs in leadership development, behavior upskilling, DEI (Diversity, Equity, Inclusion) interventions, and deep work labs continue to drive its operational growth.
Meeraq is revolutionizing the L&D space by offering scalable, business-focused learning solutions that cater to employees across all organizational layers. Its #MeeraqWayofLearning includes impactful program designs, world-class facilitation, and robust post-learning sustainability plans. With clients like Tata, Flipkart, Adani, and Schindler, Meeraq has solidified its position as India’s largest coaching company, backed by a network of 2,000+ global coaches and cutting-edge technology.
Founded in 2022 by Rajat Garg and Sujata Barla, Meeraq raised Rs 1.79 crore in funding in November 2022. Rajat Garg holds the largest stake (50.04%), while the ESOP pool accounts for 6.71%. Other shareholders include Nitin Basant (2.15%) and Bharat Garg (1.80%).
Expenses rose to Rs 7.89 crore in FY24 from Rs 4.95 crore in FY23, marking a 59.4% increase. Employee benefit costs, the largest expense category, grew to 62.35% of total expenses in FY24, up from 59.02% in FY23. Advertisement costs increased marginally to 3.3% in FY24, compared to 2.9% in FY23, while depreciation costs decreased to 1.26% from 2.2% over the same period.
Despite rising expenses, Meeraq’s profitability improved, with net profit increasing to Rs 65.02 lakh in FY24 from Rs 48.12 lakh in FY23. The EBITDA margin stood at 11.16% in FY24, compared to 14.69% in FY23, reflecting slightly tighter operational margins. Return on capital employed (ROCE) was healthy at 26.57% in FY24, down marginally from 27.08% in FY23.