Results · Mobility & Logistics

Blackbuck's FY22 revenue falls 63% from FY20

By Startup Enthusiast · 23 December 2022

What they do

Blackbuck is a B2B logistics platform for long-haul trucking

Its FY22 operating revenue dropped to Rs 833 crore, down 63% from FY20

The company spent Rs 1.39 to earn every rupee, with losses widening 18%

Blackbuck's FY22 operating revenue was Rs 833 crore, down about 4% from FY21 and a 62.7% drop from FY20's Rs 2,236 crore.
Logistics services revenue fell to Rs 720 crore (86% of total) from Rs 809 crore in FY21.
Telematics and tip incentives revenue rose 94.8% to Rs 113 crore (14% of total).
Interest on non-current investments grew 39% to Rs 36.8 crore.
Total expenses were Rs 1,154 crore, up slightly from Rs 1,135 crore in FY21.
Payments to truck owners, the largest cost, fell 13.9% to Rs 686 crore (59% of expenses).
Employee benefit cost jumped 94.2% to Rs 235 crore, including Rs 90.65 crore in ESOP expense.
The company's loss widened 18.3% to Rs 285 crore.

Revenue decline was attributed to the pandemic impact and rising fuel costs.
Industry consolidation is expected in the logistics space.
The company spent Rs 1.39 to earn every rupee of revenue in FY22.
EBITDA margin was -55.6% and ROCE was -42.4%.

Blackbuck is a B2B logistics platform for long-haul trucking, serving large companies and MSMEs.
It describes itself as India's largest digital trucking platform.
Revenue comes from logistics services (86%) and telematics & tip incentives (14%).