SaaS startup GovEVA’s revenue surged by 97.4% to Rs 2.98 crore in FY24, up from Rs 1.51 crore in FY23.
Founded in 2018, GovEVA is a Mumbai-based ESG-focused SaaS platform offering cutting-edge solutions like lifecycle management software, carbon calculators, and sustainability reporting tools. Its proprietary 7-step ESG lifecycle management approach includes materiality assessment, real-time quantitative data tracking, GAP analysis, and a digital roadmap for ESG execution. The company’s revenue is primarily driven by its end-to-end ESG and sustainability advisory services, catering to businesses of all sizes and industries.
Co-founded by Jangoo Dalal, Ghyanendra Nath Bajpai, Narayan Rao, and Shailesh Haribhakti, GovEVA operates with a mission to empower companies to build a sustainable future by aligning with global ESG standards. The shareholding structure is led by Ghyanendra Nath Bajpai (32.26%) and Upeka Venture (3.21%).
The company’s expenses remained nearly flat in FY24 at Rs 2.90 crore compared to Rs 2.51 crore in FY23. Employee benefit costs accounted for 44.97% of the total expenses in FY24, slightly up from 44.36% in FY23. Advertisement expenses increased to 2.85% of total expenses in FY24, compared to 1.31% in FY23.
GovEVA reported a profit of Rs 5.90 lakh in FY24, a significant improvement from a loss of Rs 78.54 lakh in FY23. Its EBITDA margin improved to 14.78% in FY24 from -48.15% in FY23, while ROCE turned positive at 3.79% in FY24, up from -48.92% in FY23.