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Vajro Improves Profitability Despite Flat Revenue in FY24

  • November 26, 2024
  • By Team TheKredible
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Chennai-based Vajro’s revenue remained nearly flat in FY24, declining slightly to ₹22.10 crore from ₹24.37 crore in FY23, with over 99% of its revenue derived from operations.

Vajro empowers over 5,000 Shopify and Shopify Plus brands to build customized mobile apps in under 60 minutes, driving sales and customer retention. Features like live selling, push notifications, and integration with 60+ plugins enhance mobile shopping experiences. Trusted by fast-growing DTC brands, Vajro redefines loyalty with app-exclusive benefits and deep business insights.

Founded by Niwin Santhosh and Raghuraman Ramamurthy, Vajro has raised ₹63.56 crore in funding over one round, with the latest funding raised in January 2022.

The company reduced expenses by over 10% in FY24 to ₹23.46 crore from ₹26.10 crore in FY23. Employee benefits accounted for over 81% of total expenses in FY24. Depreciation surged to over 14% of total expenses in FY24, up from 3% in FY23. Advertisement costs decreased significantly, falling to 0.026% of total expenses in FY24 from 0.6% in FY23.

Losses declined by over 25% in FY24 to ₹1.32 crore from ₹1.77 crore in FY23, with EBITDA margin improving to 9.36% from -3.73%. However, ROCE decreased to -49.20% in FY24.