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Heads Up For Tails posts flat scale in FY23; losses mount 5X

Pet care brand Heads Up For Tails struggled to grow in FY23. While the firmu2019s scale grew mere 2%, its losses blew 5X in the same period. Heads Up For Tailsu2019 revenue from operations grew to Rs 140 crore in FY23 from Rs 138 crore in FY22. Visit - https://entrackr.com/2024/04/heads-up-for-tails-posts-flat-scale-in-fy23-losses-mount-5x/

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Heads Up For Tails posts flat scale in FY23; losses mount 5X

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  1. Heads Up For Tails posts flat scale in FY23; losses mount 5X

  2. Heads Up For Tails Startup Financials FY23 Pet care brand Heads Up For Tails struggled to grow in FY23. While the firm’s scale grew mere 2%, its losses blew 5X in the same period. This happened as its expenses on marketing and employee benefits rose sharply in the fiscal year ending March 2023. Heads Up For Tails’ revenue from operations grew to Rs 140 crore in FY23 from Rs 138 crore in FY22, its consolidated financial statements filed by the group company Sara Global Pte. Ltd. in Singapore show.

  3. Heads Up For Tails Revenue Breakdown Heads Up For Tails offers 13,000 pet products with over 250 brands on its platform including its own labels. The company claims to have a presence in more than 18 cities with over 90 stores and 65 pet spas.  The sale of pet products comprised 96.7% of overall revenue which increased 3.4% to Rs 135.42 crore in FY22, reported by Entrackr. Advertising, warehousing, and logistics were some other revenue drivers for Heads Up For Tails. 

  4. Heads Up For Tails Expense Breakdown It’s worth mentioning that the consolidated financial statements represent the group picture including its subsidiaries: Barkyard Private Limited and Precious Pet Services Private Limited. Coming to the expense side, the cost of procurement accounted for 55.59% of the overall expenditure which increased by 15% to Rs 118 crore in FY23. Heads Up For Tails’ burn on employee benefits, freight, marketing (advertising cum business promotion), professional charges, software, and other overheads took its overall expenditure up by 38.8% to Rs 212 crore in FY23 from Rs 153 crore in FY22.

  5. EBITDA & ROCE of FY22-FY23 Its ROCE and EBITDA margin worsened to -25% and -43.8% respectively. On a unit level, it spent Rs 1.52 to earn a rupee. For Heads Up For Tails, it has come a little too early, as another strong year of growth would have placed it much better to take on competition. Now, it faces the unenviable task of getting back to a growth path without burning a hole in the books.  There is every chance of investors seeking some consolidation in the otherwise growing segment , and its losses leave Heads Up For Tails vulnerable to just such an approach. Watch this space to see the last tail wagging. Get the Complete Heads Up For Tails Startup Financials HERE.

  6. Thank You

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