{"id":496326,"date":"2025-01-23T10:47:21","date_gmt":"2025-01-23T05:17:21","guid":{"rendered":"https:\/\/inc42.com\/?p=496326"},"modified":"2025-01-23T13:36:34","modified_gmt":"2025-01-23T08:06:34","slug":"blue-tokais-fy24-revenue-surges-69-to-cross-inr-200-cr-mark","status":"publish","type":"post","link":"https:\/\/inc42.com\/buzz\/blue-tokais-fy24-revenue-surges-69-to-cross-inr-200-cr-mark\/","title":{"rendered":"Blue Tokai’s FY24 Revenue Surges 69% To Cross INR 200 Cr Mark"},"content":{"rendered":"

Specialty coffee brand Blue Tokai Coffee Roasters\u2019 operating revenue zoomed 69% to INR 215.8 Cr in the financial year 2023-24 (FY24) from INR 127.5 Cr in the previous fiscal year.\u00a0<\/span><\/p>\n

The startup earned INR 201 Cr from the sale of coffee and food items in the fiscal, while its bakery business contributed INR 15 Cr.\u00a0<\/span><\/p>\n

Total revenue, including other income, grew 72% to INR 221.1 Cr in FY24 from INR 128.7 Cr in FY23. Other income, including interest and mutual fund returns, amounted to INR 5.4 Cr.<\/span><\/p>\n


\n<\/span>However, the Delhi NCR-based coffee chain’s loss widened 46% to INR 62.9 Cr in FY24 from INR 43 Cr in FY23 due to rising operational costs and aggressive expansion.<\/span><\/p>\n

Founded in 2012 by Matt Chitharanjan, Shivam Shahi and Namrata Asthana, Blue Tokai operates over 100 stores across India and recently expanded its presence in Japan through a joint venture.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

Where Did Blue Tokai Spend?<\/b><\/p>\n

The startup\u2019s expenses jumped 66% to INR 285 Cr in FY24 from INR 172 Cr in FY23. Here\u2019s a breakdown of the expenses:<\/span><\/p>\n

Procurement Costs:<\/b> This was the largest expense for the startup. At INR 88 Cr, it accounted for 41% of the revenue.\u00a0<\/span><\/p>\n

Employee Benefit Expenses:<\/b> The startup\u2019s expenses under the head zoomed 94% to INR 84 Cr from INR 43 Cr in FY23.\u00a0<\/span><\/p>\n

Rent Expenses: <\/b>The spending under the head surged 90.4% to INR 33.02 Cr in FY24 from INR 17.34 Cr in FY23<\/span><\/p>\n

Besides, advertisement costs increased 33% to INR 7.74 Cr in FY24 from INR 5.81 Cr in FY23<\/span><\/p>\n

The coffee chain’s EBITDA margin improved to -19.7% in FY24 from -23.2% in the previous year.<\/span><\/p>\n

In August last year, Blue Tokai raised <\/span>$35 Mn in a Series C<\/span><\/a> round led by Verlinvest at a valuation of approximately INR 1,500 Cr ($180 Mn). This followed its <\/span>$30 Mn Series B round<\/span><\/a> led by A91 Partners in January 2023.\u00a0<\/span><\/p>\n

Overall, it has raised about $78 Mn to date.<\/span><\/p>\n

The startup competes in India’s growing specialty coffee market, alongside venture-backed players like Third Wave Coffee Roasters, <\/span>which raised $35 Mn<\/span><\/a> in September 2023. Other key competitors include SLAY Coffee, Rage Coffee, and Sleepy Owl Coffee.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Specialty coffee brand Blue Tokai Coffee Roasters\u2019 operating revenue zoomed 69% to INR 215.8 Cr in the financial year 2023-24…<\/p>\n","protected":false},"author":90102,"featured_media":496328,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"title":"Blue Tokai\u2019s FY24 Revenue Surges 69% To Cross INR 200 Cr Mark","image":"https:\/\/inc42.com\/cdn-cgi\/image\/quality=75\/https:\/\/asset.inc42.com\/2025\/01\/Blue-tokai-ftr.png","author_url":"https:\/\/inc42.com\/author\/kruthikaa-lakshman\/","author_name":"Krithika K L","category":"News","tags":"What The Financials","twitter":"Blue Tokai recorded total revenue of INR 221.1 Cr in FY24, up 72% YoY, primarily driven by coffee sales of INR 201 Cr and bakery business contribution of INR 15 Cr","facebook":"Blue Tokai recorded total revenue of INR 221.1 Cr in FY24, up 72% YoY, primarily driven by coffee sales of INR 201 Cr and bakery business contribution of INR 15 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