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Power2SME's Strong Fiscal Year 2023 Performance Reflects Improved Unit Economics

B2B e-commerce platform Power2SME has shown significant growth with improved unit economics, evident in its financial performance for the fiscal year ending March 2023. The company achieved a 50% growth in gross margin and reduced losses by 9% by cutting costs, including employee benefits.

According to its consolidated financial statements filed with the Registrar of Companies (RoC), Power2SME's gross revenue surged to Rs 1,056 crore in FY23 from Rs 703 crore in FY22.

Power2SME offers SMEs raw materials like steel, chemicals, inks, paints, metals, polymers, and financial services through its subsidiaries. Income from the sale of goods accounted for 99% of its gross revenue, with the remainder from interest and finance operations. The company also generated Rs 6 crore from interest on investments, bringing its total revenue to Rs 1,063 crore in FY23.

The cost of procurement for the e-commerce platform made up 93.4% of total expenditure, rising by 49.6% to Rs 1,019 crore in FY23 from Rs 681 crore in FY22. Overall expenditure, including employee benefits, insurance, legal/professional, advertising, finance, and other overheads, reached Rs 1,091 crore in FY23, up from Rs 740 crore in FY22.


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