Hyderabad-based frozen snack brand Skippi Ice Pops recorded a 30% increase in revenue in FY24, reaching Rs 20.2 crore compared to Rs 15.6 crore in FY23. However, losses deepened significantly, with net loss expanding nearly 9 times to Rs 13 crore in FY24 from Rs 1.5 crore in FY23.
Founded in 2020, Skippi Ice Pops is India’s first ice pop brand made using 100% RO water, natural colours, flavours, and preservatives. The brand focuses on providing a fun yet health-conscious snacking experience by offering treats free of artificial sweeteners and made from pure fruit juices and natural ingredients.
Total expenses surged by 95% in FY24, rising to Rs 33.5 crore from Rs 17 crore in FY23, reflecting aggressive expansion. Employee benefit costs rose to 35% of total expenses in FY24 from 28% in FY23, indicating higher investment in workforce capacity. Meanwhile, advertising expenses declined to 7% in FY24 from 11% in FY23, hinting at a more strategic brand spend. Cost of materials also declined, contributing 22% of FY24 expenses, compared to 31% in FY23.
EBITDA margin declined sharply from -8.72% in FY23 to -60.05% in FY24, while Return on Capital Employed (ROCE) turned positive, jumping from -289.95% in FY23 to 198.63% in FY24.
Skippi Ice Pops was co-founded by Ravi Kabra, Anuja Kabra, and Veena Pravin Kabra. The company has raised a total of Rs 23.04 crore across three funding rounds, with the most recent pre-Series A round completed in June 2025.
The company’s major shareholders include Ravi Pravin Kabra (38%), Anuja Kabra (22.27%), Thapar Vision (2.96%), and Aman Gupta (1.48%).