07 April 2022, Mumbai:
Documents sourced through Tofler indicate omnichannel baby care-focused firm FirstCry’s profits are likely to double in FY22.
The brand’s profits surged to Rs 215.94 crore during the financial year ended March 31, 2021.
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The Pune-based company’s consolidated revenues jumped over 140 percent from Rs 897 crore in FY 20 to Rs 1,740 crore in FY 21.
Expenses increased to Rs 1,645.3 crore in FY21, from Rs 1,088.1 crore in FY20. Earnings before interest, tax, depreciation, and amortization or Ebitda margin surged to 10.5 percent.
In FY20, the Softbank-backed Unicorn posted a loss of Rs 190.8 crore loss.
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It entered the unicorn club in February 2020 with a $296 million Series E cheque from investors led by SoftBank.
The company is currently planning to launch an initial public offering that will be managed by investment banks Kotak Mahindra Capital Co. and Morgan Stanley.
Starting in September 2010, FirstCry is the leading player in the omnichannel baby and mother care products segment.
It currently has around 600 retail stores and is also operational in the UAE.
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