Unicommerce has emerged as one of the top players in the e-commerce enablement SaaS space and the company further cemented its position with decent growth in scale and profit both during the last fiscal year.
The company’s revenue from operations grew 47.5% to Rs 59 crore in FY22 against Rs 40 crore in FY21, as per its standalone financial statement with the Registrar of Companies (RoC).
The Gurugram-based company offers integrated e-commerce enablement SaaS solutions covering order and inventory, return, and omnichannel management, among many others.
As per its website, Unicommerce has served over 20,000 brands and marketplaces including boAt, MamaEarth, Lenskart, Sugar, and Bira91. Besides India, Unicommerce also has a presence in the UAE, Philippines, Malaysia, Singapore, Indonesia, Saudi Arabia, and Nigeria.
As per Fintrackr’s analysis, employee benefit expenses turned out to be the biggest cost element, forming 77.8% of the total expenditure. This cost surged 41.3% to Rs 42.4 crore in FY22 which also included Rs 2.12 crore of share based payment to employees settled in equity.
Information technology (IT) & communication cost grew over 30% to Rs 4.3 crore while promotional and legal costs spiked 261% and 66.7% respectively to Rs 2.6 crore and Rs 50 lakh during the last fiscal year.
In the end, Unicommerce’s total expenditure soared 48% to Rs 54.5 crore in FY22 as opposed to Rs 36.8 crore in FY21. Despite the rise in costs, the company’s profits grew around 33% to Rs 5.98 crore in FY22 against Rs 4.5 crore in FY21. FY21 was the second profitable fiscal for Unicommerce which last booked a loss (of Rs 3.56 crore) in FY20.
Its cash inflows from operations narrowed down by 22% to Rs 7.8 crore in FY22 while EBITDA margin and ROCE stood at 12% and 15.99% respectively. On a unit level, Unicommerce spent Re 0.92 to earn a rupee of operating income during the same period.
Operating under AceVector Group, which also houses Snapdeal and Stellaro Brands, Unicommerce raised capital from Softbank in a private placement round in late 2021. Entrackr was the first to report this transaction.
According to a report, globally, India has the third-largest online shopper base with 180-190 million shoppers in 2021 and is forecasted to grow to $400-500 million by 2027. Unicommerce is set to grow in the coming years as its solutions seem to be well placed to support the country’s burgeoning e-commerce market.