Slurrp Farm, a millet-based kids’ food brand owned by Wholsum Foods, recorded a substantial revenue growth of 75.5% in FY24, reaching Rs 73.2 crore, compared to Rs 41.7 crore in FY23. With the strong revenue growth, the company’s losses narrowed to Rs 25.2 crore in FY24 from Rs 32.2 crore in FY23.
Slurrp Farm, founded in 2016 and based in Gurugram, offers health-focused products like multigrain pancakes, dosas, noodles, pasta, natural sweeteners, and superfood milk mixes. Targeting health-conscious parents, it uses nutritious ingredients like ragi, jowar, oats, and amaranth.
Led by co-founders Meghana Narayan and Shauravi Malik, the brand has raised a total of Rs 136.3 crore across five funding rounds, with the latest Series C funding secured in January 2024. Shareholding is distributed among key stakeholders, including Shauravi Malik (24.54%), Meghana Narayan (22.77%), and Alkemi Venture (3.44%).
The company’s total expenses increased by 30.3% to Rs 96.3 crore in FY24, compared to Rs 73.9 crore in FY23. Key cost drivers included advertising expenses (36.5% of total expenses), cost of materials (28.5%), and employee benefit expenses (13.75%), reflecting a strategic investment in brand visibility and operational scaling. Other expenses, including finance costs (1.7%) and depreciation (0.17%), remained relatively low.
On the profitability front, Slurrp Farm showed notable improvement, with its EBITDA margin improving from -72.54% in FY23 to -29.07% in FY24. Its ROCE also improved significantly, from -121.09% in FY23 to -38.02% in FY24, indicating better capital efficiency and operational control.
With its strong brand ethos around healthy eating and continuous focus on scaling operations efficiently, Slurrp Farm is steadily carving out a leading position in India’s burgeoning health food and foodtech space for children.