Bira 91's FY22 Revenue From Operations Grows 1.7X To INR 719 Cr, Loss Widens To INR 396 Cr

SUMMARY

The beer maker’s loss widened 1.6X YoY as expenses grew in line with the growth in revenue

Bira91’s total expenses crossed the INR 1,000 Cr-mark in FY22, rising 1.6X to INR 1,122.54 Cr from INR 694.37 Cr in FY21

Marketing expenses saw the biggest jump, surging 6.7X to INR 99.58 Cr from INR 14.77 Cr in FY21

New Delhi-based beer maker Bira 91’s consolidated net loss rose 1.6X to INR 396.06 Cr in the financial year 2021-22 (FY22) from INR 251.51 Cr in the previous fiscal year as its expenses rose in line with revenue growth.

The startup, which primarily earns revenue from the sale of beer, saw its revenue from operations soar 1.7X to INR 718.85 Cr in FY22 from INR 430.76 Cr in FY21. Bira 91 earned a revenue of INR 712.8 Cr from India, while it generated INR 6 Cr from sales in the US and Singapore.

Bira 91 also earned around INR 2.8 Cr from the sale of non-beer items, such as brand merchandise, in FY22, up 4.16X from INR 67 Lakhs recorded in FY22. Bira 91’s total income, including other income, rose 1.6X to INR 726.47 Cr from INR 442.86 Cr in FY21.

During FY22, Bira 91’s cost of materials consumed surged 1.9X to INR 163.29 Cr from INR 85.41 Cr in FY21.

Employee benefits expenses rose 1.4X to INR 93.57 Cr in FY22 from INR 69.52 Cr in the previous year. Marketing expenses saw the biggest jump, surging 6.7X to INR 99.58 Cr from INR 14.77 Cr in FY21.

During FY22, the company paid INR 326.67 Cr in excise duty, up 1.3X from INR 247.58 Cr in FY21.

Overall, Bira 91’s total expenses crossed the INR 1,000 Cr mark in FY22, rising 1.6X to INR 1,122.54 Cr from INR 694.37 Cr in FY21.

In FY22, Bira 91 spent INR 1.56 to earn every INR 1 from operations.

Founded in 2015 by Ankur Jain, Bira 91 has a presence across 550 towns and cities, spanning over 18 countries. The startup claims to be the fourth-largest beer company in India, with a market share of 5% across key markets. Bira 91 has five manufacturing facilities and a production capacity of around 250 Mn litres.

Earlier this month, the startup raised $10 Mn from Japan’s largest bank, MUFG Bank. Including the latest funding, Bira 91 has raised $290 Mn from investors such as Kirin Holdings, Sixth Sense Ventures, Sofina and Sequoia India to date.