SUMMARY
- Ferns N Petals’ revenue from operations climbed 16.2% to Rs 705.4 crore in FY24.
- The company’s total expenses for FY24 increased by just 1.9% to Rs 736.67 crore.
- Ferns N Petals’ losses dropped by 77.8% to Rs 24.26 crore in FY24.
Ferns N Petals‘ revenue from operations climbed 16.2% to Rs 705.4 crore in FY24 from from Rs 607.3 crore in FY23, according to its consolidated financial documents accessed from the Registrar of Companies (RoC).
The company generates revenue through the sale of cakes, flowers, and personalized gift items through its website, third-party ecommerce sites, its own retail outlets, and through its franchise network. It also makes money from delivery fees, convenience charges, and fees related to its franchise agreements, including initial setup costs and monthly royalty payments.
Gurugram-based Ferns N Petals operates in more than 100 countries and has over 400 outlets across India.
The majority of its earnings, 91%, came from the sales of its products, which saw a 15% increase to Rs 640.75 crore in FY24 from Rs 556.18 crore in FY23. Delivery charges saw a 40% rise to Rs 45.12 crore in FY24.
Other income streams, including fees from franchise and convenience charges, brought in an additional Rs 19.51 crore in FY24. The company also earned Rs 7 crore from interest income, bringing its total revenue to Rs 712 crore for the year under review.
India continues to be the company’s largest market, accounting for 63% of its revenue, with earnings of Rs 443.58 crore from India in FY24. The company’s collections from UAE and Singapore were Rs 176.52 crore and Rs 65.1 crore, respectively.
The biggest expense category was materials, which accounted for 42.3% of the total expenses. This category saw an increase of 12.4% to Rs 312 crore in FY24 from Rs 277.6 crore in FY23. Employee benefit costs rose by 2.8% to Rs 124.49 crore in FY24.
Advertising costs dropped by 12.30% to Rs 156.65 crore in FY24. Transportation and other expenses amounted to Rs 143 crore in FY24. The company’s total expenses for FY24 increased by just 1.9% to Rs 736.67 crore from Rs 723 crore in FY23.
Ultimately, Ferns N Petals’ losses dropped by 77.8% to Rs 24.26 crore in FY24 from Rs 109.50 crore in FY23. Its EBITDA was negative at 8.62 crore in FY24, with its ROCE and EBITDA margin being -21.57% and -1.21%, respectively, in FY24.
On a per-unit basis, Ferns N Petals spent Rs 1.04 to generate a rupee of operating revenue in FY24. The company reported Rs 84 crore in cash and bank balances and had a current asset value of Rs 130.25 crore in FY24.
Ferns N Petals has raised a total funding of Rs 206.5 crore (roughly $27 million) so far, with Lighthouse being one of its major backers. Additionally, Ferns N Petals operates in the hospitality and wedding sectors through its Udman Hotels and FNP Weddings and Events divisions.
