Eggoz Nutrition reported a 35% increase in revenue, reaching Rs 74.94 crore in FY24, up from Rs 55.48 crore in FY23.
Eggoz is enhancing India’s egg industry by empowering rural farmers with technology, quality feed, and veterinary support to ensure superior egg production, even in extreme climates. The brand guarantees fresh, UV-sanitized eggs delivered to retail within a day of laying, preserving their nutritional value. Eggoz supports farmers with assured purchases, direct payments, and aims to enhance protein consumption nationwide.
Eggoz Nutrition has raised a total of Rs 119.51 crore in funding across seven rounds, with the latest round completed in December 2022. Co-founders Abhishek Negi, Uttam Kumar, and Aditya Singh each hold a 7.76% stake in the company, while an ESOP pool accounts for 4.71%. NABVentures holds a 14.20% stake in the company.
The company’s expenses rose by over 71%, reaching Rs 100.01 crore in FY24, up from Rs 58.37 crore in FY23. The cost of materials, the major contributor to expenses, decreased to over 58% of the total expense in FY24 from over 87% in FY23. Similarly, employee benefit costs reduced to over 16% of total expenses in FY24 from over 32% in FY23. Meanwhile, advertising expenses increased to over 7% in FY24 from over 5% in FY23.
Eggoz’s losses narrowed by over 23%, amounting to Rs 25.06 crore in FY24 compared to Rs 32.88 crore in FY23. Its EBITDA margin improved to -29.86% in FY24 from -51.74% in FY23, although its ROCE declined to -154.14% in FY24 from -78.90% in FY23.