Yu Foodlabs, a Gurugram-based foodtech brand, recorded a 2.03x surge in revenue in FY24, reaching Rs 16.02 crore compared to Rs 7.86 crore in FY23. However, losses widened, with net loss increasing to Rs 7.69 crore in FY24 from Rs 4.52 crore in FY23, reflecting a 70.35% rise.
Founded in 2021, Yu Foodlabs is on a mission to revolutionize clean eating by offering preservative-free, additive-free Instant Meal Bowls made using advanced lyophilization technology. The brand ensures its meals retain their original taste and aroma while maintaining a non-refrigerated shelf life of 12 months.
Expenses grew 92.14% in FY24, rising to Rs 27.02 crore from Rs 14.06 crore in FY23, driven by expansion efforts. Employee benefit costs declined to 14.35% of total expenses in FY24 from 17.85% in FY23, indicating improved workforce cost efficiency. Advertisement costs saw a sharp rise, increasing to 20.98% in FY24 from 2.77% in FY23, reflecting a major investment in brand awareness. The cost of materials rose to 27.86% in FY24 from 24.53% in FY23.
Depreciation expenses increased slightly to 5.73% of total expenses in FY24 from 4.76% in FY23. Finance costs grew to 2.81% in FY24 from 0.62% in FY23, indicating higher borrowing expenses.
EBITDA margin improved from -69.28% in FY23 to -55.72% in FY24, showcasing better cost efficiency. Return on Capital Employed (ROCE) also showed slight improvement, rising to -45.56% in FY24 from -52.77% in FY23.
Yu Foodlabs is co-founded by Bharat Bhalla and Varun Kapur. The company’s major stakeholders include Ashish Kacholia with a 21.08% stake, Elcid Investments Limited with 4.30%, and Satyadharma Investments & Trading Company Pvt Ltd with 2.81%.
The company has raised a total of Rs 99.69 crore across four funding rounds, with its latest Series B round completed in October 2024.