Premium coffee chain SLAY Coffee reported a decline in revenue for FY24, registering Rs 7.47 crore compared to Rs 15.97 crore in FY23, reflecting a decrease of over 53%. Over 79% of the revenue in FY24 was derived from operations, a drop from FY23, where over 97% of the revenue came from operations.
SLAY Coffee, a premium coffee brand founded in 2015 in Bengaluru, operates across 160+ locations in 19 cities. It serves customers through three primary channels: SLAY Cloud (online orders), SLAY Coffee Bars (quick-service outlets), and SLAY Packaged Coffees (home-use products). The brand offers coffee grounds, beans, protein bars, freeze-dried instant coffee, and non-caffeinated beverages.
Founded in 2015, SLAY Coffee has raised Rs 51.78 crore across 12 funding rounds, with the latest in July 2022. The co-founders Chaitanya Chitta and Lakshmi Dasaka each hold 11.43% stake in the company. While Fireside Ventures hold 4.72% of the company and Rebel Foods holds majority of the company’s share.
SLAY’s expenses decreased by 48.6% to Rs 15.31 crore in FY24, from Rs 29.83 crore in FY23. Employee benefit costs formed 27.27% of total expenses in FY24, compared to 37.63% in FY23. Advertisement expenses saw a sharp cut, reducing from 8.6% to 1.2%. However, depreciation and finance costs increased to 20.2% and 6.7% of total expenses, respectively.
Losses narrowed by 43.7% to Rs 7.83 crore in FY24, compared to Rs 13.92 crore in FY23. Consequently, EBITDA margins improved from -60.07% in FY23 to -49.55% in FY24, while ROCE turned positive, rising to 346.18% in FY24 from -163.79% in FY23.