Yatrikart, a tech-enabled transit retail chain, recorded an impressive revenue growth of 2.8x in FY24, reaching Rs 13.28 crore compared to Rs 4.61 crore in FY23. However, despite the significant growth, the company’s losses widened to Rs 2.2 crore in FY24 from Rs 1.67 crore in FY23.
Founded in 2021 and headquartered in Indore, Yatrikart focuses on empowering retailers and micro-entrepreneurs at transit stations by replacing unauthorized hawking with a structured retail model. The company aims to enhance vendor profitability while fulfilling emergency needs of commuters.
The company’s total expenses surged to Rs 15.45 crore in FY24 from Rs 6.28 crore in FY23. The key cost drivers included material costs (83.68% of total expenses), employee benefits (8.09%), and advertising expenses (1.03%). Depreciation and finance costs remained low at 0.38% and 0.16%, respectively.
Despite revenue growth, profitability remains a challenge, with the EBITDA margin improving from -35.68% in FY23 to -15.66% in FY24. The Return on Capital Employed (ROCE) also improved from -119.65% in FY23 to -64.44% in FY24, indicating better cost management and operational efficiency.
The company has raised Rs 3.51 crore in funding, with its latest Seed round completed on June 16, 2022. Shareholding is distributed among key stakeholders, including co-founder Gaurav Rana (40.69%), ESOP (8.23%), and Artha Venture (4.11%).