Repos Energy’s revenue grew by 9.7% to Rs 78 crore in FY24, up from Rs 71.1 crore in FY23.
Founded in 2017 by Aditi Bhosale Walunj and Chetan Walunj, Repos Energy is a renewable energy distribution platform aiming to bring clean fuels such as ethanol, menthol, and biofuels directly to customers through a mobile distribution model and e-commerce platform. Backed by Ratan Tata and recently partnered with Mahindra & Mahindra, Repos utilizes Furio trucks to enable last-mile delivery of energy, redefining traditional fuel distribution in India.
Repos Energy’s expenses increased by 2.4% in FY24 to Rs 88.8 crore, compared to Rs 86.7 crore in FY23. The largest cost component was cost of materials, accounting for 60.1% of total expenses in FY24. Employee benefit costs contributed 13.3% of total expenses, down from 14.4% in FY23. Finance costs rose to 3.4% of total expenses in FY24 from 2.12% in FY23, while depreciation remained consistent at 2.4% in both years.
The company narrowed its losses to Rs 6.4 crore in FY24 from Rs 14.8 crore in FY23. It also showed operational improvement, with the EBITDA margin improving to -7.38% in FY24 from -16.21% in FY23. ROCE significantly improved from -164.8% in FY23 to -32.05% in FY24, indicating better capital utilization.
Repos Energy has raised a total of Rs 88.04 crore across two funding rounds, with the latest funding secured in September 2024 through a convertible debt round. Co-founders Chetan Rajendra Walunj and Aditi Balasaheb Bhosale remain the majority stakeholders, holding 30.30% and 29.93% equity, respectively.