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Licious Reports Flat Revenue of Rs 747.7 Crore in FY23 and Loss of Rs. 528 Crore

Licious , Delightful Gourment Private Limited , Licious is an e-commerce service, that sells seafood and meat, in addition to ready-to-cook and ready-to-eat products, has reported in FY23 , a revenue of Rs 747.7 Crore which is just 9.6% increase from previous year.

Company has reported a Net loss of Rs. 528.4 Crore as compared to Net loss of Rs. 855.5 Crore in previous year FY 22. The decline in loss is only due to reduction in exception items realting to accounting of fair value of financial liabilities which are notional in nature and the EBITDA Margin of the Company have remained nearly same at 60% in FY23 and 64.9% in FY22.

The summary of its financial performance is as follows :

Major Cost of the company were Material Procurement and Consumption of Meat , etc. which has increased by 16.3% in current year as against revenue increase by 9.6%. Increase in COGS Cost from 81.2% to 86.1% is largely of concern as it directly affects the Unit Economics and form major portion of expense for the company.

On rest of expense end , company have primarily decreased its advertisement and promotional expense from Rs 169.8 Crore to Rs 128.9 Crore in current year.

Other Expenses like Power & Fule , Employee Cost , Transport and Distribution and Other Expenses have increased during the year for Licious.

There have been reports that Licious may have been looking for new funding round. However company claims they are well capitalised, and not planning on fundraising as they have more than $100 million in the bank. But company needs to prove its model and move towards profitability to sustain competitve segment.


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