SUMMARY
- Biryani By Kilo’s revenue from operations surged 22.9% YoY to Rs 268 crore in FY24.
- Total expenses grew to Rs 346 crore in FY24 from Rs 321 crore in FY23.
- The company managed to post a 29.7% reduction in losses to Rs 71 crore in FY24.
Hybrid omnichannel brand Biryani By Kilo‘s revenue from operations surged 22.9% YoY from Rs 218 crore in FY23 to Rs 268 crore in FY24, according to its consolidated financial statements with the Registrar of Companies.
Offering a variety of dishes such as biryani, kebabs, korma, and curries, these products of Biryani By Kilo accounted for 94.76% of its revenue, which has grown by 23.3% to Rs 254 crore in FY24. The remaining portion of its income came from delivery services, which amounted to Rs 14 crore in the same period.
Additionally, BBK has earned Rs 4 crore from interest (non-operating) activities, bringing its total revenue to Rs 272 crore in FY24.
The cost of purchasing materials represents 32% of BBK’s total expenses. This cost has seen a 16.8% rise to Rs 111 crore in FY24 from Rs 95 crore in FY23.
As the company expanded, there was an unexpected decrease in employee benefits by 11.4% to Rs 70 crore in FY24 from the Rs 79 crore in FY23. BBK also reduced its advertising expenses by 15.2% during the same period. Overhead costs, including rent, commissions, transportation, and utilities, took the total expense to Rs 346 crore in FY24 from Rs 321 crore in FY23.
Ultimately, the company managed to post a 29.7% reduction in losses to Rs 71 crore in FY24 from Rs 101 crore in FY23. BBK’s EBITDA was negative at Rs 51 crore in FY24, but its EBITDA margin and ROCE margin improved to -51.5% and -18.75%, respectively.
BBK spent Rs 1.29 to earn a rupee in FY24. Its current assets have increased to Rs 115 crore in FY24, including cash and bank balances of Rs 83 crore.
BBK has secured approximately $55 million in funding to date, including a $35 million Series B round led by Falcon Edge in November 2021. Following the allotment, the company has been valued at around Rs 840 crore or $105 million. The Alpha Wave-backed company competes with other well-known brands like Rebel Foods’ Behrouz Biryani and Biryani Blues, as well as smaller cloud-kitchens.
