Indore-based HR tech startup Supersourcing reported a modest revenue growth of 1.7% in FY24, reaching Rs 22.73 crore, up from Rs 22.34 crore in FY23. It derived over 99% of its revenue from operations in FY24. Over 66% of its operating revenue came from domestic sales, while the remaining 33% came from international sales.
Supersourcing operates as a hiring automation platform that enables businesses to hire remote teams within five days, offering a marketplace of verified IT agencies specializing in various industries.
The company’s expenses increased by 1.8% to Rs 21.59 crore in FY24, compared to Rs 21.21 crore in FY23. Employee benefit costs accounted for 27.51% of total expenses in FY24, down from 30.36% in FY23, while advertisement costs remained relatively stable at 1.29% in FY24, compared to 1.31% in FY23. Depreciation and finance costs accounted for 0.69% and 0.46% of total expenses, respectively, while other expenses made up 67.2% of total spending.
Despite the increase in expenses, Supersourcing’s profit rose by 3.3%, reaching Rs 85.56 lakh in FY24, up from Rs 82.81 lakh in FY23. The EBITDA margin improved to 6.15% in FY24, compared to 5.60% in FY23, while ROCE stood at 16.60%, down from 23.43% in the previous year.
Founded in 2020 by Mayank Pratap and Aditi Chaurasia, Supersourcing has raised a total of Rs 8.15 crore across three funding rounds, with its latest Seed round closing in June, 2022. The shareholding structure includes Mayank Pratap (45.10%) and Aditi Chaurasia (45.10%).