Founded in 2015, Hyderabad-based Navars Edutech is an astronomy-focused edtech company that offers a wide range of experiential learning products including online astronomy courses, DIY kits, planetarium shows at schools, and astronomy labs.
Navars reported a remarkable revenue growth of 2.6X in FY24, reaching Rs 5.85 crore, up from Rs 2.25 crore in FY23. The company turned profitable during the fiscal, posting a net profit of Rs 4 lakh in FY24 compared to a net loss of Rs 1.9 crore in FY23. The EBITDA margin improved significantly from -109.23% in FY23 to 2.85% in FY24, while the ROCE also rose to 2.76%, a substantial recovery from -160.14% in FY23.
Total expenses grew by 21% to Rs 5.8 crore in FY24, compared to Rs 4.8 crore in FY23. Employee benefit costs made up 51.7% of total expenses in FY24, a slight reduction from 56.25% in FY23.
Navars has raised a total of Rs 2.6 crore across two funding rounds, with the latest seed round completed in October 2022. Among the key shareholders, Co-founder Sravan Varma Datla holds a 31.51% stake, followed by the ESOP pool at 11.48%, and AngelBay Holdings at 1.12%.