Storia’s FY24 Revenue Zooms 51% To INR 169 Cr

SUMMARY

Storia Foods and Beverages saw its operating revenue jump 51.30% to INR 169.42 Cr in the financial year ended March 2024 from INR 112.01 Cr in the previous fiscal year

Despite this, the F&B startup’s net loss rose 19.50% to INR 32.84 Cr in FY24

Founded by Vishal Shah in 2016, Storia offers a variety of beverages, including juices, shakes, coconut water, and more

Storia Foods and Beverages saw its operating revenue jump 51.30% to INR 169.42 Cr in the financial year ended March 2024 from INR 112.01 Cr in the previous fiscal year.

Despite this, the F&B startup’s net loss rose 19.50% to INR 32.84 Cr in FY24 from INR 27.47 Cr in the previous fiscal year due to higher cash burn. 

Founded by Vishal Shah in 2016, Storia offers a variety of beverages, including juices, shakes, coconut water, and more. The startup, which claims to offer juices with zero added sugar, sells its products on various marketplaces like Amazon, Zepto, among others, as well as offline stores. 

In 2021, it raised $6 Mn in its Series A funding round from Sixth Sense Ventures. Back then, it said it would use the capital to expand its product line, scale up its distribution network and grow its business across the country.

Including other income earned from interest on fixed deposits and long term investments, Storia’s total revenue stood at INR 170.65 Cr in FY24 as against INR 113.37 Cr in the previous fiscal year. 

Where Did Storia Spend?

The F&B startup’s total expenses soared 44.30% to INR 203.5 Cr in FY24 from INR 141.04 Cr in FY23.

Storia Financial Graph

Cost Of Materials Consumed: The startup’s procurement cost zoomed 39.02% to INR 97.96 Cr during the year under review from INR 70.46 Cr in FY23.

Employee Benefit Expenses: The spending under this head jumped 17.90% to INR 27 Cr from INR 22.89 Cr in FY23. This expense head included salaries, wages, and other staff welfare costs.

Transportation Expenses: The startup spent INR 7.37 Cr on transportation in FY24 as against INR 5.96 Cr in the previous year.

 Miscellaneous Expenses: The spending under the head rose 79.37% to INR 62.26 Cr in FY24 from INR 34.71 Cr in the previous year. However, the startup didn’t provide a breakdown of the miscellaneous expenses.

Storia competes with the likes of B Natural, Smoodies and Raw Pressery in the country’s fast-growing F&B space.