Results · Commerce & Consumer Brands

Rebel Foods cuts net loss in FY26

By Startup Enthusiast · 15 September 2026

What they do

Rebel Foods manages more than 45 dining brands including Faasos and Behrouz Biryani across India, the UAE, and the UK

The cloud kitchen network increased operating revenue 21% to Rs 1,951.6 crore while trimming net loss 16% to Rs 281.8 crore in FY26

The business is preparing for a domestic public listing after shutting down its 15-minute quick meal delivery experiment earlier in 2026

Rebel Foods posted Rs 1,951.6 crore in FY26 operating revenue, marking a 21% rise from the previous financial year.
The cloud kitchen group reduced its annual net loss by 16% to Rs 281.8 crore.
Loss before interest, taxes, depreciation, and amortisation narrowed around 50% to Rs 62.4 crore during the year.
Domestic operations generated Rs 1,667.7 crore, representing roughly 85.5% of all operating receipts.
Overseas markets delivered Rs 283.8 crore, recording a 39% annual expansion.
Total outgoings climbed 14.1% to reach Rs 2,265.9 crore, led by spending on culinary supplies.
Operational efficiency improved as spending fell to Rs 1.16 per rupee earned from core activities.

The food startup achieved unicorn status (a private company valued at $1 billion or more) during 2021.
That valuation benchmark followed a $175 million Series F investment round backed by QIA, Coatue, and Evolvence.
The group halted its QuickiES 15-minute meal drop service earlier in 2026 after confronting heavy cash drain.
Management is actively exploring an initial public offering (selling shares on a stock exchange for the first time) in India.

The enterprise operates 45+ brands across commercial kitchens located in India, the United Arab Emirates, and the United Kingdom.
Its food portfolio features Faasos, Behrouz Biryani, The Good Bowl, LunchBox, and Oven Story Pizza.
Additional house labels include The Biryani Life, Mandarin Oak, Sweet Truth, Firangi Bake, and franchise partner Wendy's.
The organisation distributes meals to buyers positioned throughout more than 120 cities.
Merchandise sales formed the primary cash stream, producing Rs 1,891.8 crore or 97% of operational turnover.
Brand licensing fees contributed Rs 15.6 crore, reflecting a 10% increase over the previous year.
Platform commission receipts generated Rs 17.1 crore, recording a 7% decrease from FY25 levels.
Logistics and food delivery activities brought in Rs 27 crore in supplementary operational revenue.
Treasury activities yielded Rs 43.3 crore through interest earnings and portfolio gains.

The leadership team aims to pursue an Indian stock market listing.
Future targets emphasise long-term bottom-line gains alongside enhanced kitchen software, customer journeys, brand marketing, and logistics execution.

Product: Multi-brand cloud kitchen and food delivery platform.
Customers: Urban consumers ordering meals from its owned brands.
How it makes money: Sells prepared food through owned brands and delivery channels.
What sets it apart: Runs a large portfolio of in-house food brands across a wide kitchen network.
Operations: Operates cloud kitchens and consumer food brands, with some dine-in and quick-delivery experiments.