Punjab-based company Lahori recorded a top line of Rs 214.84 crore, a massive 5.7X increase as compared to the previous fiscal’s Rs 37 crore. This rise in revenue primarily stems from the sale of products, which constituted 99.523% of the total revenue. The remaining 0.477% came from other operating revenue streams.
Founded in 2018 by Saurabh Munjal and Nikhil Doda, Lahori specializes in non-alcoholic beverages. Its four main ready-to-drink variants are Zeera, Nimboo, Kacha Aam, and Shikanji.
Along with its revenue rise, its expenses also widened from Rs 34.02 crore in FY22 to Rs 202.90 crore in FY23, a 6x increase. While the cost of materials was the largest expenditure at 68.137%, depreciation followed at 9.682% and employee benefit costs at 7.089%.
In 2022, Lahori secured over Rs 60 crore in an extended Series A round led by Verlinvest. Post the infusion of the amount, Saurabh Munjal and Saurabh Bhutna each held equal shares of over 25%. Other notable shareholders included Nikhil Doda and Verlinvest SA.
Despite the substantial increase in expenses, the company’s profitability also surged. It reported a profit of Rs 7.88 crore in the fiscal year ending March 2023, marking a 2.8x growth. Its EBITDA margin stands at 14.72% and the ROCE was recorded at 5.96%.