Retail SaaS company Increff recorded a modest revenue growth of 4.5% in FY24, reaching Rs 92.68 crore, compared to Rs 88.68 crore in FY23. Over 97% of its revenue in FY24 was derived from its operations.
Founded in 2016 and headquartered in Bengaluru, Increff leverages algorithm-driven solutions to tackle complex inventory management and supply chain challenges. The company offers end-to-end merchandising and omnichannel inventory management solutions for both B2B and B2C sales channels. With a clientele of 700+ global retail brands across 13+ countries, Increff serves industries such as fashion, electronics, and healthcare, enabling automated decision-making, improved process accuracy, and sustainable retail practices.
In FY24, expenses declined by 7.9% to Rs 125.90 crore from Rs 136.72 crore in FY23, with employee benefits comprising the largest cost component at 46.78% of expenses, up from 37.39% in FY23. Advertisement expenses dropped to 4.7% from 6.7% in FY23, while depreciation and finance costs remained relatively stable at 1.97% and 0.037% of expenses, respectively.
Losses narrowed by 29.3%, from Rs 48.04 crore in FY23 to Rs 33.96 crore in FY24. EBITDA margin improved significantly to -33.12% in FY24 from -51.08% in FY23. However, ROCE declined further to -83.20% in FY24 from -74.17% in FY23.
Co-founders Rajul Jain, Anshuman Agarwal, and Romil Jain lead Increff, which has raised Rs 125.96 crore across three funding rounds, the latest being in February 2022. Shareholders include Rajul Jain (11.96%), Anshuman Agarwal (12.46%), Romil Jain (10.93%), and TVS Capital (8.64%).