Food and beverages company The Baker’s Dozen witnessed a 43% spike in its FY23 revenue. The same fiscal year it saw operations contributing over Rs 41 crore to the total revenue. The preceding year, the company’s revenue amounted to Rs 29.2 crore.
Founded by Sneh Jain and Aditi Handa, The Bakers’ Dozen is an artisan bakery which offers a variety of international baked goodies. It is a direct-to-consumer brand which produces items like sourdough bread, cakes, cookies and crackers from a factory near Ahmedabad. Apart from its offline stores, it also sells its products online through ecommerce marketplaces like Amazon and through quick commerce companies like Swiggy’s Instamart and BigBasket.
The Mumbai-based company’s expenses amounted to Rs 58.25 in the fiscal year ending March 2023 with over Rs 18 crore being spent on materials and over Rs 10 crore on employee benefits. In FY22, it spent close to Rs 12 crore and over Rs 2 crore in the each of the segments respectively.
The 2012 established company saw losses closing in at over Rs 16 crore, quite a surge as compared to the previous year’s Rs 50.2 lakhs. Its EBITDA margins stood at -33.15% while the ROCE stood at -86.05%.
The Baker’s Dozen recently raised its second round of funding on January 11. The round raked in Rs 33 crore led by Wipro Consumer Care Ventures. It previously raised its maiden round in July 2022 from Fireside Ventures.
It competes against the likes of Sugarr & Spice, and Mr. Brown Bakery among others.