Supply6 reported a 32% increase in revenue, reaching Rs 5 crore in FY24, up from Rs 3.8 crore in FY23.
Supply6 is redefining convenient nutrition by offering drinkable meals packed with six essential nutrients, all made from 100% vegan, plant-based ingredients. Designed for busy individuals, the Bengaluru-based brand aims to make complete, wholesome meals accessible and functional anywhere, anytime.
The company has raised a total of Rs 5.76 crore in funding across three rounds, with the latest Pre-Series A round closed in July, 2024. Co-founders Vaibhav Bhandari and Rahul Jacob lead the company, with Bhandari holding a 66.64% stake and Jacob owning 7.23%.
Supply6’s expenses surged by 72.4%, reaching Rs 7.5 crore in FY24 from Rs 4.35 crore in FY23. Employee benefit costs reduced to 7% of total expenses in FY24 from 14% in FY23, while the cost of materials rose to 32% from 28% in FY23.
The company’s losses widened significantly to Rs 2.5 crore in FY24 compared to Rs 54 lakh in FY23. EBITDA margin declined sharply to -51.3% in FY24 from -14.09% in FY23. Meanwhile, ROCE also dropped dramatically to -84.2% in FY24 from 200.76% in FY23.