Delhi-based Vidyakul saw its revenue grow 5.4x in FY24, reaching Rs 11.39 crore, up from Rs 2.09 crore in FY23. Over 96% of its revenue in FY24 was derived from its operations, up from over 86% in FY23. The operating revenue streams include income from subscriptions (94%), income from online video content (4.5%), and income from handwritten notes (1.2%).
Vidyakul provides after-school e-learning for students of state boards in vernacular languages, empowering teachers to create online courses for K-12, JEE, NEET, and AIIMS aspirants in Tier II and Tier III cities. Its platform is built on extensive analysis of NCERT books and past 10 years of exam papers, offering video lessons, study notes, online tests, and sample papers.
Founded in 2019 by Tarun Saini, Vidyakul has raised Rs 51.25 crore across six funding rounds, with the most recent funding coming from a Seed round in June 2022. Tarun Saini holds 48.68% of the company, while Dholakia Ventures owns 3.13%, and the ESOP pool represents 3.11%.
Expenses increased to Rs 16.55 crore in FY24 from Rs 9.01 crore in FY23. Employee benefit costs constituted 47.60% of total expenses in FY24, down from 50.19% in FY23. Advertisement costs rose to 14.68% of total expenses in FY24, up from 10.66% in FY23, reflecting increased marketing efforts. Depreciation costs decreased to 3.93% of total expenses in FY24 from 8.35% in FY23, while finance costs remained negligible at 0.001%.
Despite the significant revenue growth, Vidyakul recorded a net loss of Rs 5.10 crore in FY24, an improvement from Rs 7.02 crore in FY23. The EBITDA margin improved substantially to -39.57% in FY24 from -293.43% in FY23. However, ROCE declined sharply to -370.12% in FY24 from 143.54% in FY23.