Exprs recorded a 2.25x increase in revenue in FY24, reaching Rs 14.9 crore compared to Rs 6.62 crore in FY23. The company also reduced its net loss to Rs 92.9 lakh in FY24 from Rs 1.3 crore in FY23, marking a 28.5% improvement.
Founded in 2018 and headquartered in Hyderabad, Exprs is a logistics and supply chain company tackling last-mile delivery challenges through a network of micro-warehouses in gated communities, tech parks, and high-demand clusters.
Expenses grew 2x in FY24, rising to Rs 15.85 crore from Rs 7.94 crore in FY23. Employee benefit costs accounted for 3.21% of total expenses in FY24, down from 7.80% in FY23. Advertisement costs increased to 3.78% of expenses in FY24 from 1.25% in FY23, reflecting a stronger marketing push.
Exprs’s EBITDA margin declined to -561.93% in FY24 from -17.54% in FY23. However, Return on Capital Employed (ROCE) improved to 38.13% in FY24 from 83.26% in FY23.
The company has raised Rs 8.01 crore in funding over three rounds, with the latest round completed in April 2023. Exprs’ shareholding includes co-founder Srinivas Madhavam (27.00%), LetsVenture (3.67%), and AngelList (2.70%).
Exprs continues to expand its footprint in last-mile logistics, leveraging its innovative micro-warehousing model to enhance delivery efficiency and customer satisfaction across urban hubs.