Results · Commerce & Consumer Brands

Licious posts 47% revenue jump in FY26

By Startup Enthusiast · 1 April 2026

What they do

Licious sells meat, seafood, and ready-to-eat items online and offline

FY26 revenue rose 47% to ₹1,166 Cr; EBITDA loss widened to ₹187 Cr

The company plans an IPO in 2026 and aims for ₹1,800 Cr revenue in FY27

Licious reported FY26 revenue of ₹1,166 crore, a 47% jump from ₹795 crore in FY25.
Online sales reached ₹1,000 crore, up 28% from ₹770 crore in FY25.
Offline revenue grew to ₹177 crore from ₹26 crore in FY25.
The company's EBITDA burn widened to ₹187 crore from ₹168 crore in FY25.
Net loss in FY25 was ₹218.3 crore, down 27% from ₹298.6 crore in FY24.
Licious is gearing up for an IPO in 2026 and may raise a pre-IPO round.
It targets ₹1,800 crore revenue in FY27, a 54% growth over FY26.

Licious operates a farm-to-fork model with full backend supply chain ownership.
It sells meat, seafood, cold-cuts, and ready-to-eat items via website, quick commerce, and offline stores.
It has over 60 physical stores across India.
94% of business comes from repeat customers.
Monthly active users exceed 1.5 million.
Its 30-minute delivery service 'Flash' serves about 55% of online users.
Average order value is ₹675.
Growth comes from improving delivery speed and expanding in existing markets, not new cities.

Build 10 micro markets in FY27, scale to 120 across top 7 cities over 5 years.
Expand dark store network from 130 to ~400 over 5 years, add ~70 in FY27.
Go public in 2026, likely with a pre-IPO round.