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boAt's Revenue Exceeds Rs.1,500 Cr

Boat's Revenue Crosses Rs.1,500 Cr in Fy21 With Just Rs 14 Crore Being Spent on Wages. BoAt is also planning to announce its first public offering in the near future with a price of more than $1.4 billion.

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boAt's Revenue Exceeds Rs.1,500 Cr

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  1. boAt'sRevenue ExceedsRs.1,500Cr Boat'sRevenueCrossesRs.1,500CrinFy21WithJustRs14CroreBeingSpentonWages BoAt,astartupinthefieldofconsumerelectronics,isoneofthetopmakersofwearablesandaudioaccessoriesinIndiainthepastfewyears.BoAtisalsoplanningtoannounceitsfirstpublicofferinginthenearfuturewithapriceofmorethan$1.4billion;ithasmadeaprofitandcrossedtheRs.1,500croreinrevenueduringFY21. boAthasrecordeda2.2Xincreaseinoperatingrevenuewhichincreasedfrom700.44millioninFY20,to1,511.7millioninFY21.thecompany'sannualfinancialreportwiththeMCAexhibits.Thewirelessearphonesandheadphonescomprisedthebiggestproductcategorybysalesaccountingfor62.7percentofthecompany'soperatingearningsinFY21.Thesalesincreasedby2.5Xto947.4croreinFY21,upfromjustRs375.7croreinFY20. TheMumbai-basedfirmcreatestheproductsitsellsinIndiahoweveritsproductionandassemblytakeplaceinChina.Thecostofpurchasingitsstocksfortradingisthemostsignificantexpensethatthefirmhastopayandaccountsforalmost73%ofthetotalannualcost. Alsoread:Dunzo Raises$240MillionLedbyRelianceRetail

  2. Thecompanyhasmade$100millionthroughanequityroundthatwasledbyWarburgPincusatthestartofQ4FY21.ItalsohasplanstomoveitsmanufacturingoperationstoIndia.Thecompany'sconsumerelectronicsdivisionintendstomakeuseofthisIndiangovernment'sproductiontiedincentive(PLI)program.Thecompanyhasmade$100millionthroughanequityroundthatwasledbyWarburgPincusatthestartofQ4FY21.ItalsohasplanstomoveitsmanufacturingoperationstoIndia.Thecompany'sconsumerelectronicsdivisionintendstomakeuseofthisIndiangovernment'sproductiontiedincentive(PLI)program. Theseven-year-oldcompanyisfocusedonpromotingitsproductsextensivelyonline.Itsadvertisingpromotioncostswerethesecond-highestcostcenterforboAtwhichaccountedfor10.3percentofboAt'stotalannualcosts.Theseexpensesnearlydoubledto147croresinFY21,upfromjustRs51croreinFY20. Majoroperationsfunctions,likeproductionandafter-salesoutsourcing,boAtoperateswithasmallstaffofemployees,andstaffexpensesoccupyingjust1percentofitsannualexpenses.Thecostofemployeebenefitsincreasedby125.7percentageYoYto14.31billion(includingdirectorremunerationthatisaroundtwocrores). ThecompanythatwasbackedbyQualcommalsoofferedastockbuybackattheperiodthatendedinMarch2021thatamountedtoaboutaround140crores.Co-foundersAmanGupta,aswellasSameerMehta,wereamongthelargestrecipientsofthispurchasereceivingabitmorethan81percent(i.e.approximatelyRs113.6crore,or56.8croreper)fromthepurchaseamount. Youmayalsolike:AgroStarSecured$70 Millionin its Series DFinancingRound boAthashadasolidfinancialperformanceduringFY21andwasthefirstelectronicconsumerDirecttoConsumer(D2C)startuptoreachtheRs.1,500croremarkinrevenue.Despitetheaforementionedpandemic,boAthasgrownrapidly,withanincreaseof61%inprofits.ContrarytomanycompaniesinthelatestageandgrowthstagesboAthasbeenabletoachievethislevelofrevenuewithminimalexpenseforemployee'swagesorother,non-profitbenefits--14.31crore. Forallthelatesthappeningsinthebusinessworldandthelatest startupnews,subscribetoentrackr’snewsletter.

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