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Results · Mobility & Logistics

WheelsEye posts revenue growth but net losses flat in FY25

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Date
Company
WheelsEye
What it does
App-based truck booking and fleet management
Kind
Results
Founded
2017
Sector
Mobility & Logistics

What they do

WheelsEye is an app-based truck booking and fleet management platform that sells GPS tracking devices, FASTag solutions, and bundled hardware-software packages

What happened

The company reported operating revenue of Rs 243.4 Cr for FY25, a 17% year-on-year increase from Rs 208.8 Cr in FY24

Why it matters

Despite revenue growth, WheelsEye recorded flat net losses of Rs 47 Cr with an EBITDA margin of -25.47%

The details

  • WheelsEye reported operating revenue of Rs 243.4 Cr for the financial year 2025.
  • This represents a 17% year-on-year increase compared to the previous fiscal year's revenue of Rs 208.8 Cr.
  • The company posted net losses of Rs 47 Cr, which remained flat compared to the prior period.
  • Total income reached Rs 271 Cr, driven by software subscriptions and bundled hardware solutions.
  • Software subscription revenue grew by 20% to contribute Rs 152.7 Cr, accounting for 62% of total operating revenue.
  • Bundled solutions comprising GPS hardware and software saw a 32% increase to reach Rs 62 Cr.
  • Other income sources including interest on fixed deposits contributed Rs 27.6 Cr to the total income.
  • Overall expenses increased by approximately 10% to Rs 317.8 Cr during the same period.

The bigger picture

  • The company operates at a loss while expanding its customer base and service offerings.
  • Growth in software revenue indicates a shift towards recurring revenue models.

About the business

  • WheelsEye operates as an app-based truck booking and fleet management platform.
  • The company generates revenue primarily through software subscriptions for fleet management tools.
  • It also sells GPS tracking devices and FASTag solutions to logistics providers.
  • A significant portion of revenue comes from bundled hardware-software packages.
  • The business model relies on technology integration for transportation efficiency.
  • Revenue streams include direct sales of hardware and ongoing software service fees.
  • The company serves the logistics sector with digital tracking and management solutions.

Investors

  • WheelsEye Technology Inc. (parent) — US-based parent entity holding 99.9% stake in the Indian operations.

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