Daalchini's Revenue Jumps 56% To INR 18.3 Cr in FY24

On the back of a robust uptick in its top line, to below INR 10 Cr in the fiscal year ended March 31, 2024 (FY24). The startup’s net loss declined 32% to INR 9 Cr from INR 13.3 Cr in FY23.

The vending machine provider’s operating revenue jumped 56% to INR 18.3 Cr in FY24 from INR 11.7 Cr in the previous fiscal year. Including other income of INR 14.7 Lakh, the company’s total revenue rose to INR 18.5 Cr in the year under review.

The startup, which was founded by ex-Paytm executives Prerna Kalra and Vidya Bhushan in 2017, has made a name for itself in the vending machine industry.

Daalchini’s IoT-based smart vending machines, which are present across 2,600 stores in over 80 cities in India, cater to on-the-go consumption with a specialised supply chain designed to serve 6-meal-a-day to its customers. It rents as well as sells its vending machines to retail stores, offices, schools, hospitals, among others.

The startup claims to work with more than 190 D2C brands and cloud kitchens, including Nestle, Parle, Mother Dairy, Haldirams and Bikanerwala. Its clients include Fortis, Apollo, AIIMS, Amazon, EY, Accenture, Tata, Reliance, Adani, among others.

Sales of vending machines generated INR 7.27 Cr in revenue for Daalchini in FY24 as against INR 6.41 Cr in the previous year. Its services (that is, renting of machines) contributed INR 11.05 Cr to the operating revenue during the year under review as against INR 5.28 Cr in FY23.

In line with the rise in its income, Daalchini’s total expenses for the fiscal rose 36% to INR 26.97 Cr in FY24 from INR 19.83 Cr in the previous year.

Procurement Cost: The vending machine provider saw its expenses under the head jump 10% to INR 6.39 Cr from INR 5.81 Cr in FY23.

Employee Benefit Expenses: The startup managed to trim its employee costs by 12% to INR 3.14 Cr during the year under review from INR 3.58 Cr in the previous fiscal. Employee expenses include wages, gratuity, PF, among others.

Other Expenses: The startup’s expenses under this head zoomed 56% to INR 14.53 Cr in FY24 from INR 9.29 Cr in the previous fiscal year. However, it didn’t give a breakdown of these expenses.

Daalchini claims to be “India’s first vending machine” provider, and competes with the likes of Wendor, NutriTap Technologies, Vendekin Technologies, among others.

Daalchini has raised a total funding of more than $5.17 Mn to date from Unicorn India Ventures and Artha Venture Fund among others.

Yesterday, the startup’s competitor from commercial refrigeration company Elanpro.

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