Rebel Foods’ registers 27.5% dip in growth, losses stand at INR 364 crore in FY21
- ByStartupStory | January 17, 2022
Cloud kitchen aggregator Rebel Foods has recently announced a 27.5% dip in its revenue for FY21 following the Covid-19 pandemic. The brand has registered a revenue of INR 405.1 crore in FY21 as against INR 558.7 crore in FY20 thus clearly indicating the loss in operations due to the pandemic.
The major contributor to the revenue of the brand was revenue from sale of the food products which saw a plunge from INR 553.6 crore in FY20 to INR 400.7 crore in FY21 thus registering a 27.6% drop.
Raw Material consumptions saw a massive drop by a little over 42.1% to Rs 199.62 crore in FY21 as compared to Rs 345 crore in FY20. Further, the employee benefit expenses witnessed a downward dive and amounted to only 19.4% of the total cost as compared to 25.4% in the previous fiscal year. Significantly, the contribution of employee stock options (ESOPs) in these staff payments doubled to 14.1% in FY21 from 7.04% in FY20.
At Rebel Foods, while scale has suffered due to unavoidable circumstances, the firm seems to be in line to show a strong recovery during the current fiscal FY 21-22. The company has raised nearly $190 million in its Series F round at a unicorn valuation a couple of months ago with plans of investing $150 million in India to boost its network of cloud kitchens and further launch product lines.
Follow Startup Story
Related Posts
