What the filings say.
100 Indian startups. Revenue, profit, debt, and cash flow from audited public filings. Not press releases. Not founder interviews. Not analyst estimates.
Flipkart
₹82,787 Cr
FY25 revenue (+17%)
-₹5,189 Cr
FY25 net loss (widened 22%)
The Flipkart Entity Nobody Talks About Lost ₹5,189 Cr.
Flipkart
-37%
Net loss reduction YoY (consolidated)
₹20,493 Cr
FY25 revenue from operations (+14%)
Flipkart's App Cut Losses 37%. Marketplace Fees Doubled.
Flipkart
₹24,753 Cr
FY25 intercompany loans from Flipkart India
₹3,249 Cr
FY25 rights issue from Walmart Singapore
The Flipkart App Just Became the Parent of Flipkart.
BigBasket
BigBasket Lost ₹3,857 Cr Last Year. It Has Zero Bank Debt.
BigBasket
-₹1,851 Cr
Net loss FY25 (widest on record)
+46%
Loss widening year on year
BigBasket's App Alone Lost ₹1,851 Cr in FY25. It Spent ₹497 Cr on Ads.
BigBasket
There Are Two BigBaskets. Both Just Had Their Worst Year.
The Good Glamm Group
How the Good Glamm Group Ran Out of Money
The Good Glamm Group
Good Glamm Has ₹594 Cr of Registered Secured Debt Still Active
The Good Glamm Group
Eight Brands. One Year. ₹1,230 Cr Out the Door.
Meesho
96.87%
Meesho Inc (Delaware) ownership of Meesho Ltd (India) at FY25 close
2
100%-owned Indian subsidiaries (both incorp Mar 2024)
Meesho Inc (Delaware) Still Owns 96.87% of Meesho Ltd (India).
Meesho
₹0
Balance sheet borrowings at FY25 close
₹1,750 Cr
Cumulative charges registered FY22-FY26
Meesho's Charges Register: 11 Loans, ₹1,750 Cr Registered, ₹0 Debt at Year End.
Meesho
₹0 → ₹9,388 Cr
Revenue trajectory FY16 to FY25
₹2,579 → ₹644 Cr
Advertising peak (FY22) to current (FY25)
Meesho: Ten Years, Four Phases, ₹11,500 Cr Lost, ₹543 Cr OCF Positive.
Meesho
₹1,409 Cr
Combined founder remuneration (FY25)
₹1,084 Cr
Vidit Aatrey (Whole-Time Director)
Meesho's Founders Took ₹1,409 Cr in FY25. FY24 They Took ₹7 Cr.
Meesho
₹9,388 Cr
Revenue from operations (+23% YoY)
-₹3,883 Cr
Net PAT (widened 12.7x from -₹305 Cr)
Meesho Lost ₹3,883 Cr in FY25. Its Founders Took ₹1,409 Cr.
Swish
₹4 Cr
Revenue from operations (9-month stub year)
-₹19 Cr
Net PAT (loss in stub period)
Swish Earned ₹4 Cr. Spent ₹23 Cr. Sits on ₹119 Cr Cash.
Country Delight
₹775 Cr
Revenue from operations (+43% YoY)
-₹249 Cr
Net PAT (loss widened 33% from -₹186 Cr)
Country Delight Raised ₹622 Cr. Burned ₹269 Cr. Parked ₹207 Cr.
BlissClub
₹132 Cr
Revenue from operations (+51% YoY)
-₹20 Cr
Net PAT (loss cut 54% from -₹44 Cr)
BlissClub Halved Its Loss. The Cost It Cut Was Payroll.
Snitch
₹498 Cr
Revenue from operations (+106% YoY)
-₹2 Cr
Net PAT (flipped from +₹4.4 Cr profit)
Snitch Doubled Revenue. Tripled Payroll. Flipped to a Loss.
CashKaro
₹341 Cr
Revenue from operations (+21% YoY)
-₹38 Cr
Net PAT (loss widened 64% from -₹23 Cr)
CashKaro's Stock-in-Trade Tripled to ₹118 Cr. Loss Widened 64%.
LendenClub
₹227 Cr
Revenue from operations (+28% YoY)
+₹28.6 Cr
Net PAT (swung from -₹10.7 Cr loss)
LendenClub Turned Profitable. ₹28.6 Cr PAT on ₹241 Cr Income, From a -₹10.6 Cr Loss.
INDmoney
₹164 Cr
Consolidated revenue (+133% YoY)
-₹133 Cr
Consolidated PAT (loss widened 61%)
INDmoney's Consolidated Revenue Doubled to ₹164 Cr. Its Consolidated Loss Widened by ₹50 Cr.
InCred Holdings
₹1,874 Cr
Consolidated revenue (+47% YoY)
+₹373 Cr
Consolidated PAT (+21% from ₹309 Cr)
InCred Holdings (Formerly KKR Capital Markets India) Made ₹373 Cr Profit on ₹1,874 Cr Revenue.
WintWealth
₹45 Cr
Consolidated revenue (+159% YoY)
-₹8 Cr
Consolidated PAT (loss narrowed 61%)
WintWealth's PAT Was -₹8 Cr. Its Operating Cash Burn Was -₹176 Cr.
Stashfin
₹710 Cr
Total revenue from operations (-9.8% YoY)
+₹85 Cr
Net PAT (up 27% from ₹67 Cr)
Stashfin's Loan Book Grew 20% to ₹1,675 Cr. Impairment Charges Fell 35%.
Faircent
₹27 Cr
Revenue from operations (FY25, -42% YoY)
+₹0.34 Cr
Net PAT (down 93% from ₹4.74 Cr)
Faircent's Revenue Contracted 42%. The Profit Almost Disappeared.
Redcliffe Labs
₹431 Cr
Consolidated revenue (+23.7% YoY)
-₹134 Cr
Consolidated PAT (loss narrowed 46% from ₹250 Cr)
Redcliffe Labs Cut Its Consolidated Loss 46%. Raised Another ₹190 Cr.
Tata 1mg
₹2,353 Cr
Consolidated revenue (+19.6% YoY)
-₹271 Cr
Consolidated PAT (loss narrowed 13%)
Tata 1mg's Standalone Made ₹65 Cr Profit. The Group Lost ₹271 Cr.
Orange Health
₹84 Cr
Revenue from operations (+84% YoY)
-₹81 Cr
Reported PAT (flat YoY vs -₹80 Cr)
Orange Health Doubled Revenue. The Reported Loss Did Not Move.
HealthifyMe
₹178 Cr
Revenue from operations (-14% YoY)
-₹4.7 Cr
Net PAT (loss narrowed 95% from ₹88 Cr)
HealthifyMe Cut Its Loss 95%. Operating Cash Flow Worsened to -₹74 Cr.
Healthians
+8.7%
Revenue growth FY2025
-79%
Net loss reduction
Healthians Cut Its Loss 79%. Net Worth Is Negative ₹901 Cr.
PharmEasy
₹5,872 Cr
Consolidated revenue (+3.7% YoY)
-38%
Net loss reduction (₹2,534 → ₹1,572 Cr)
PharmEasy's Loss Narrowed 38%. The Cumulative Goodwill Write-Down Is ₹4,850 Cr.
Furlenco
+66%
Revenue growth FY2025
-99%
Net loss reduction (₹125 Cr → ₹1.6 Cr)
Furlenco Cut Losses 99%. The ₹100 Cr It Raised Went to Debt, Not Growth.
Amazon
-89%
Net loss reduction YoY
₹30,139 Cr
FY2025 revenue (+19%)
Amazon Cut Its India Marketplace Loss 89%. The Cumulative Bill Is ₹45,650 Cr.
Ola
-47.5%
Revenue from operations YoY
₹1,279 Cr
Ola Electric stake markdown (OCI)
Ola's Cabs Business Lost Half Its Revenue. The Ola Electric Stake Halved Too.
Uber India
-89%
Rides segment revenue YoY
₹1,407 Cr
Rides segment loss
Uber India's Rides Revenue Fell 89%. Its Rides Costs Didn't.
Google Pay
₹50 Cr
FY2025 PAT (-55%)
+₹492 Cr
License fee increase to GAP
Google Pay India's Profit Halved. License Fees to Singapore Grew 13x.
Vedantu
₹227 Cr
FY25 Revenue (Consol, +23%)
-₹123 Cr
Reported PAT
Vedantu's Reported Loss Fell 22%. Operating Loss Widened 25%.
upGrad
₹1,569 Cr
FY25 Revenue (Consol, +5.5%)
-₹274 Cr
Net Loss (compressed 51%)
upGrad Cut Its Loss in Half. Revenue Grew Only 6%.
Myntra
₹6,043 Cr
FY2025 Revenue (+18%)
+₹548 Cr
Net Profit (21x YoY)
Myntra's Profit Grew 21x. Revenue Grew 18%.
Scaler
₹363 Cr
FY2025 Revenue (-5%)
+₹3.43 Cr
First Reported Profit
Scaler's First Profit Came From Cuts. Revenue Fell 5%.
Fresh2Home
₹421 Cr
FY2025 Revenue (+14%)
₹481 Cr
Reported COGS (114% of revenue)
Fresh2Home's Reported COGS Exceeds Revenue. The Filing Doesn't Show Why.
Captain Fresh
₹3,421 Cr
Consolidated Revenue (+145%)
+₹42 Cr
First Reported PAT
Captain Fresh's P&L Inflected. The Cash Hasn't Caught Up.
Plum (Pureplay Skin Sciences)
₹402 Cr
FY2025 Revenue (+23%)
+₹25 Cr
FY2025 Net Profit
Plum Became Profitable Without Raising Capital.
mCaffeine
₹237 Cr
FY2025 Revenue (+23%)
-₹37 Cr
Advertising Cut
mCaffeine Didn't Grow Out of Losses. It Cut Them.
BRND.ME
₹374 Cr
FY2025 Revenue (-25%)
-₹256 Cr
FY2025 Net Loss
Mensa Is Unwinding Its Roll-Up.
Purplle
₹1,367 Cr
FY2025 Revenue (Consol)
₹218 Cr
Advertising Spend
Purplle Doubled Revenue Without Spending More on Ads.
Pilgrim
₹408 Cr
FY2025 Revenue
₹235 Cr
Advertising Spend
Pilgrim Doubled Revenue. The Loss Almost Tripled.
Renee
₹312 Cr
FY2025 Revenue
₹152 Cr
Advertising Spend
Renee Spends ₹49 to Earn ₹100.
Snapmint
₹151 Cr
Consolidated Revenue
+₹6.8 Cr
Consolidated PAT
Snapmint Borrowed ₹288 Cr. Made ₹6.8 Cr Profit.
Unacademy
₹702 Cr
Consolidated Revenue
-16%
Revenue Change
Unacademy Is Smaller. Losses Fell Anyway.
SuperTails
₹120 Cr
FY2025 Revenue
-₹30 Cr
FY2025 Net Loss
SuperTails Has ₹23 Lakh Cash. Revenue Is ₹120 Cr.
Zeta
₹599 Cr
FY2025 Revenue
-33%
Revenue Change YoY
Zeta Is Profitable. But 33% Smaller.
UpperCase
₹83 Cr
FY2025 Revenue
-₹35 Cr
FY2025 Net Loss
UpperCase Spent ₹144 to Earn ₹100.
RentoMojo
₹266 Cr
FY2025 Revenue
+₹43 Cr
FY2025 PAT
RentoMojo Made ₹116 Cr in Operating Cash. Spent ₹111 Cr Buying Things to Rent.
ShareChat
₹723 Cr
Revenue (Flat)
-₹1,108 Cr
Loss (Halved)
ShareChat Halved Its Loss. Revenue Didn't Grow.
MoneyView
₹2,339 Cr
Consolidated Revenue
+₹240 Cr
Consolidated PAT
MoneyView Made ₹240 Cr Profit. Took ₹3,413 Cr in Debt.
Dhan
₹877 Cr
FY2025 Revenue
+₹408 Cr
FY2025 PAT
Dhan's Numbers Don't Look Like a Startup
CarDekho
₹2,643 Cr
Consolidated Revenue
-₹401 Cr
Consolidated Loss
CarDekho Made ₹21 Cr Profit. Lost ₹401 Cr As a Group.
Licious
₹775 Cr
FY2025 Revenue
-₹210 Cr
FY2025 Net Loss
Licious FY2025: Revenue ₹775 Cr, Loss ₹210 Cr. A Year of Survival, Not Growth.
OneCard
₹1,878 Cr
FY2025 Revenue
-₹298 Cr
FY2025 Net Loss
OneCard FY2025 Financials: ₹1,878 Cr Revenue, ₹298 Cr Loss, Branding Spend Cut 85%
BookMyShow
₹1,831 Cr
Consolidated Revenue
₹250 Cr
Operating Cash Flow
BookMyShow FY2025: Revenue ₹1,831 Cr, OCF ₹250 Cr, ₹69 Cr in Employee Cost Nobody Was Paid
Sahi
₹5 Lakh
Revenue From Customers
₹19 Cr
FY2025 Net Loss
Sahi Raised ₹57 Crore. Customers Paid ₹5 Lakh.
PocketFM
₹580 Cr
FY2025 Revenue
₹16 Cr
FY2024 Net Loss (down from ₹69 Cr)
PocketFM Cut Losses 77%. Turned Cash-Flow Positive. Half Its Revenue Is One US Customer.
GIVA
₹519 Cr
FY2025 Revenue
58%
FY2024 Gross Margin
GIVA Lost ₹52 Cr. Burned ₹98 Cr in Cash. That's the Real Story.
KukuFM
₹258 Cr
FY2025 Revenue
₹102 Cr
FY2024 Marketing Spend
KukuFM Spent More on Marketing Than It Earned. Revenue Tripled. Losses Didn't Fall.
Plum
₹66.98 Cr
Consolidated Revenue FY2025 (+62% YoY)
₹13.96 Cr
Consolidated Net Loss FY2025
Plum Lost ₹14 Cr. The Broker Works. The Platform Doesn't.
Zetwerk
₹8,540 Cr
FY2025 Standalone Revenue (-27% YoY)
₹918 Cr
FY2024 Consolidated Net Loss
Zetwerk Revenue Fell ₹3,000 Cr. Not in Any Press Release.
Blue Tokai Coffee
₹325 Cr
Revenue FY2025 (+51%)
₹50 Cr
Net Loss FY2025 (down from ₹63 Cr)
Blue Tokai Scaled for Years. Losses Fell Only Now.
Infra.Market
₹6,053 Cr
Standalone Revenue FY2025
₹247 Cr
Standalone Net Profit FY2025
Infra.Market Grew 37%. Profit Fell. Then Raised ₹3,000 Cr Anyway.
Third Wave Coffee
₹269 Cr
Revenue FY2025 (flat from ₹241 Cr in FY2024)
₹110 Cr
Net Loss FY2024 (last disclosed)
Third Wave Coffee Opened Dozens of Stores. Losses Doubled. Revenue Grew 67%.
CheQ
₹84 Cr
Revenue FY2025 (+487% YoY)
₹33 Cr
Net Loss (halved from ₹70 Cr)
CheQ Earned ₹84 Cr. It Spent ₹87 Cr Getting There.
Acko
₹118 Cr
Standalone Revenue FY2025 (flat YoY)
₹194 Cr
Standalone Net Loss FY2025
Acko Shows ₹118 Cr Revenue. The Real Business Did ₹1,870 Cr.
Noise
₹1,048 Cr
Revenue FY2025 (–24% YoY)
+₹2.17 Cr
First profit after two years
Noise Made ₹2 Cr Profit. Generated ₹176 Cr Cash. Revenue Fell 24%.
UltraHuman
₹542 Cr
Revenue FY2025 (+447% YoY)
+₹106 Cr
Net profit (56% gross margin)
UltraHuman Made ₹106 Cr Profit. Revenue Grew 5x. Employee Costs Were ₹37 Cr.
Spinny
₹4,650 Cr
Consolidated Turnover FY2025
₹672 Cr
Consolidated Net Loss FY2025
Spinny Shows ₹4.65 Cr Revenue. The Real Number Is ₹4,650 Cr.
MyGate
₹173 Cr
Revenue FY2025 (+80% YoY)
₹140 Cr
Net Worth FY2025
MyGate Grew 80%. The Filing Doesn't Disclose the Loss.
FamPay
₹44.46 Cr
Revenue FY2025 (+184% YoY)
₹3.31 Cr
Net Loss (down 31%)
FamPay Has 6 Million Users. It Earns ₹74 Per User Per Year.
Slice
₹604 Cr
Total Income FY2025 (Year 1 as bank)
-₹317 Cr
Net Loss After Tax
Slice Became a Bank. Year One: ₹604 Cr Income, ₹317 Cr Loss, ₹2,905 Cr Loan Book.
BharatPe
₹1,667 Cr
Revenue FY2025 (+17% YoY)
-₹88 Cr
PAT (vs -₹492 Cr FY2024)
BharatPe's Losses Look Better. Its Cash and Debt Do Not.
Chaayos
₹305 Cr
Revenue FY2025 (+23% YoY)
-₹25 Cr
PAT (vs -₹54 Cr FY2024)
Chaayos Halved Losses. Operations Generated Cash for the First Time. Still Not Profitable.
Chai Point
₹208 Cr
Revenue FY2025 (+4.3% YoY)
₹14.50 Cr
Cash remaining (vs ₹41.67 Cr FY2024)
Chai Point's Loss Looks Stable. Strip Out the One-Time Item and It Worsened.
Kissht
₹306 Cr
Revenue FY2025 (-26% YoY)
₹51 Cr
PAT (profitable 3rd year running)
Kissht Is Profitable. Revenue Fell 26%. The Filing Doesn't Say Why.
Zerodha
₹8,810 Cr
Revenue FY2025 (-11.5% from record FY2024)
₹4,232 Cr
PAT, 48% net margin
Zerodha Made ₹4,232 Cr Profit. Revenue Actually Fell 11%.
Razorpay
₹2,254 Cr
Total Revenue FY2025 (inc. discontinued)
+₹313 Cr
Operating Cash Flow (turned positive)
Razorpay's Payments Business Made ₹64 Cr. The Headline Shows -₹1,022 Cr.
PhonePe
₹6,544 Cr
Revenue FY2025 (+33% YoY)
+₹1,903 Cr
Operating cash flow
PhonePe Lost ₹1,265 Cr on Paper. It Generated ₹1,903 Cr in Cash.
Porter
₹4,287 Cr
Revenue FY2025 (+57% YoY)
+₹131 Cr
First full-year profit
Porter Grew Revenue 5x and Turned Profitable. Without Raising a Rupee.
Rapido
₹910 Cr
Revenue FY2025 (+40% YoY)
-₹240 Cr
Loss - down 64% from FY2023 peak
Rapido Doubled Revenue. Losses Fell 64%. It Has Zero Debt.
Zepto
₹4,455 Cr
Revenue FY2024 (+120% YoY)
-₹1,249 Cr
Loss - flat despite revenue doubling
Zepto Doubled Revenue. Losses Barely Moved. That's the Point.
OYO
₹6,253 Cr
Consolidated revenue FY2025
+₹233 Cr
Second consecutive PAT profit
OYO Posted a Profit. Pre-Tax, It Lost ₹501 Cr. Here's the Difference.
Sugar Cosmetics
₹405 Cr
FY2025 total income (standalone)
−₹134 Cr
FY2025 net loss (doubled YoY)
Sugar Cosmetics Revenue Fell. Marketing Spend Didn't. Losses Doubled.
Upstox
₹1,150 Cr
FY2024 revenue from operations
₹177 Cr
FY2024 profit before tax
Upstox's First Profitable Year: It Grew Revenue and Cut Headcount Costs at the Same Time.
boAt
₹3,063 Cr
Standalone revenue FY2025
₹64 Cr
First profit in three years
boAt Cut Its Way to Profit. Revenue Still Hasn't Recovered.
CRED
₹2,397 Cr
FY2024 consolidated revenue from operations
₹1,646 Cr
FY2024 consolidated net loss
CRED Generated ₹2,397 Cr Revenue. Its Total Accumulated Loss Is ₹5,256 Cr.
Navi
−₹126 Cr
FY2025 net loss (continuing ops)
−67%
Navi Finserv (NBFC) PAT YoY
Navi Was Profitable in FY2024. Strip Out the One-Off. It Wasn't.
Kiwi
₹64.18 Cr
FY2025 net loss
₹50.66 Cr
FY2025 'other expenses', 13x revenue
Kiwi Earned ₹3.83 Cr. It Spent ₹50.66 Cr on 'Other Expenses.'
Dezerv
₹65.62 Cr
FY2025 consolidated revenue
−₹111.98 Cr
FY2025 consolidated net loss
Dezerv Earned ₹65 Cr. It Spent ₹111 Cr on Salaries Alone.
Jar
₹188.78 Cr
Total income FY2025
₹13.17 Cr
First-ever net profit
Jar Lost Money for Four Consecutive Years. FY2025 Was Different.
Scapia
₹40.42 Cr
Total income FY2025
₹83.05 Cr
Net loss FY2025
Scapia Grew Revenue 67% and Cut Costs. Still Lost ₹83 Cr.
Super Money
Rs 93.97 Cr
Total income FY2025
Rs 147.81 Cr
Net loss FY2025
Flipkart Built a Fintech. Losses Grew 7x Faster Than Revenue.
Stable Money
Rs 104.4 Cr
Reported revenue
~Rs 3.6 Cr
Retained income