Paper Boat sees 16% YoY growth in sales to Rs 585 crore in FY24: Report

Beverage startup Paper Boat witnessed an uptick in its sales to Rs 585 crore in FY 24 from Rs 504 crore in FY 23, Entrackr reported.

The Hector Beverages-owned company's operating scale grew by 16 percent year-on-year growth in FY 24. The maker of 'Aamras' drink improved its bottom line by cutting its losses by 48 percent in the same period, the report added.

Paper Boat, launched by former Coca-Cola executives Neeraj Kakkar and Niraj Biyani, mentioned that the trade (manufactured by their parties) formed 52 percent of the operating revenue which increased by 16 percent to Rs 304.3 crore in FY 24 from Rs 261.8 crore in FY 23. However, its own manufactured products accounted for the remaining 48 percent of the operating revenue. The income also grew 15.7 percent to Rs 278 crore in FY 24.

On the expense side, Paper Boat's cost of material is dominated by accounting for 63 percent of the expense. It increased to Rs 404 crore in FY 24 from Rs 380 crore in FY 23. The advertising expenses stood at Rs 171 crore and employee benefit expenses grew by 22 percent to Rs 66.70 crore. The Benagluru-based firm's total expenses increased 7.2 percent to Rs 642 crore in FY 24.

The 11-year-old company reduced its losses by 48 percent to Rs 47 crore in FY 24.

The firm reported cash and bank balance of Rs 168 crore along with current assets of Rs 305 crore in FY 24.