Results · Commerce & Consumer Brands
Koovers posts revenue growth but deepens losses in FY25
By Startup Enthusiast ·
- Date
- Company
- Koovers
- What it does
- B2B automotive spare parts marketplace
- Kind
- Results
- Based in
- Bengaluru
- Founded
- 2015
What they do
Koovers operates a B2B marketplace for car spare parts and accessories
What happened
The company reported Rs 198 Cr revenue in FY25 with 2.5X growth
Why it matters
Losses more than doubled to Rs 36 Cr as expenses surged 145%
The details
- Koovers posted Rs 198 Cr revenue for fiscal year 2025.
- This represents a 2.5X year-on-year growth compared to the previous year.
- The company recorded a net loss of Rs 36 Cr in FY25.
- Previous year losses were Rs 17 Cr, meaning losses more than doubled.
- Total expenses reached Rs 235 Cr, growing by 145% from FY24.
- Cost of materials accounted for Rs 186.5 Cr or 79% of total costs.
- Employee benefits cost Rs 22 Cr, having doubled from the prior year.
- Cash and bank balances stood at just Rs 50 Lakh against current assets of Rs 51 Cr.
The bigger picture
- The business spends Rs 1.19 to earn every Rs 1 in revenue.
- In FY24, the spend was even higher at Rs 1.22 per rupee earned.
- EBITDA margin remains deeply negative at -56.88%.
- Return on Capital Employed (ROCE) is -13.13%.
- High material costs dominate the expense structure significantly.
About the business
- Koovers runs a B2B marketplace for automotive spare parts.
- It provides an app-based platform for car spare parts and accessories.
- Sole income source is product sales to business customers.
- Headquarters are located in Bengaluru, Karnataka.
- Founded in 2015 by five co-founders.
- Acquired Schaeffler India operations in 2023 via a 100% buyout.
- Competitors include TyrePlex, Boodmo, and Partnr.
- Material costs grew 2.5X alongside revenue growth.
- Transportation costs were Rs 8 Cr and marketing was Rs 5 Cr.
Founders
- Rajesh Krishna, Co-founder
- Sandeep Begur, Co-founder
- Kantharaj Urs, Co-founder
- Vinayak YB, Co-founder
- S Prem Kumar, Co-founder
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