Founded in 2015, Chennai-based Sweet Karam Coffee (SKC) is a food start-up focused on “un-junking” food for customers. The company offers a range of clean, homemade-style food products, including sweets, snacks, instant mixes, pickles, and beverages, catering to health-conscious consumers looking for authentic and preservative-free options.
Sweet Karam Coffee reported a significant revenue jump in FY24, reaching Rs 11.48 crore, a 6.6x increase from Rs 1.73 crore in FY23. However, net losses widened to Rs 7.58 crore in FY24, up from Rs 77.6 lakh in FY23. The EBITDA margin declined to -57.47% in FY24 from -38.79% in FY23, while the ROCE dropped sharply from 711.54% to -84.93%.
The company’s expenses surged to Rs 19.05 crore in FY24, up from Rs 2.53 crore in FY23. Employee benefit costs accounted for 11.02% of total expenses in FY24, slightly up from 10.67% in FY23. Advertisement costs rose significantly to 20.31% of total expenses in FY24 from 11.85% in FY23. Depreciation expenses increased to 2.72% in FY24 from 1.58% in FY23, while finance costs declined to 2.25% in FY24 from 2.76% in FY23. The cost of materials constituted 36.69% of total expenses in FY24, down from 39.92% in FY23.
Sweet Karam Coffee has raised Rs 15.49 crore in funding through two rounds, with the latest investment secured in October 2023. Co-founder T P Anand Bharadwaj holds a 27.99% stake, while Narayan Venkatesan owns 5.49%, and the ESOP pool accounts for 9.93% of equity.