Biryani by Kilo’s Loss Jumps 2.7X To INR 42.6 Cr In FY22, Sales Rise To INR 133 Cr

SUMMARY

The biryani cloud kitchen startup’s total revenue jumped 2X to INR 135 Cr from INR 65.6 Cr in FY21

Biryani by Kilo’s total expenses rose to INR 177.6 Cr in FY22 from INR 82.3 Cr in FY21

In November 2021, the startup raised $35 Mn in its Series B round to foray into international markets

Popular biryani cloud kitchen startup Biryani by Kilo’s net loss soared 2.7X to INR 42.6 Cr in the the financial year 2021-22 (FY22) from INR 15.6 Cr in the previous year.

The Gurugram-based cloud kitchen startup’s total revenue jumped 2X to INR 135 Cr in FY22 from INR 65.6 Cr in FY21. Revenue from operations jumped 103% to INR 132.6 Cr from INR 65.2 Cr in FY21. The startup sells biryani and other dishes through its own website and food delivery apps such as Swiggy and Zomato.

The rise in sales of Biryani By Kilo (BBK) could be attributed to its growing presence across the country. It had 60 outlets across the country in November last year which grew to 100 last week. It has presence in 45 cities of the country, including Delhi, Hyderabad, Bengaluru, and Kolkata.

The startup claims to process around 9 Lakh-10 Lakh orders in a month with an average order value of INR 750. It also has around 30-35 dine-in restaurants across the country and is targeting to get 30-35% of the total business through its own channel by December 2022.

Surge In Costs Of Material Consumed

BBK’s total expenses rose 116% to INR 177.6 Cr in FY22 from INR 82.3 Cr in FY21, led by a sharp rise in cost of materials consumed. It spent INR 56 Cr on materials used to prepare the dishes during the year as against INR 25.7 Cr a year ago, in line with the rise in its sales.

Meanwhile, employee benefit expenses shot to INR 41.6 Cr from INR 21.5 Cr in FY21. Employee benefit expenses usually comprise employee salaries, PF Contribution, gratuity, and other employee welfare benefits.

BBK’s advertising and promotional expenses jumped 2.4X to INR 12.7 Cr from INR 5.2 Cr a year ago. The startup also spent INR 8.3 Cr on delivery charges as against INR 3.5 Cr in FY21.

Founded in 2015 by Vishal Jindal and Kaushik Roy, BBK sells biryanis, kebabs, kormas and desserts. In November 2021, it raised $35 Mn in its Series B round led by Falcon Edge. The round also saw participation from SBI and existing investor IvyCap Ventures.

BBK now plans to foray into international markets such as the Middle East. The startup competes against the likes of Bikkgane Biryani, Biryani Blues, Behrouz Biryani, and other popular local biryani outlets.