Bambrew’s revenue spikes 4.7X to Rs 44 Cr in FY23


Sustainable packaging startup Bambrew’s multi-fold growth in the last two fiscal years appears to have drawn investors’ attention as it closed a $7 million round of funding last week. To put things in perspective, the company’s operating scale rose 58X to Rs 43.52 crore in FY23 from Rs 75 lakh in FY21.

As far as year-on-year growth is concerned, Bambrew’s revenue from operations spiked 4.66X to Rs 43.52 crore in FY23 from Rs 9.34 crore in FY22, its financial statements sourced from the Registrar of Companies (RoC) shows.

Founded in 2018 by Vaibhav Anant and Saikat De, Bambrew is a green packaging startup which offers eco-friendly and purely handmade sustainable products made from bamboo, sugarcane and seaweed.

Revenue from sales of goods was the only source of the company’s income while it also earned Rs 70 lakh as other income from non operating activities (interest on fixed deposit, sale of scrap and others).

Cost of goods sold was the major expense for Bambrew which accounted for 68.30% of the total expenditure followed by employee benefit and freight charges of Rs 7.32 crore and Rs 3.36 crore respectively.

Bambrew’s legal professional charges, warehouse renting and other overheads brought its total expenditure to Rs 62.23 crore in FY23.

Head to Thekredible for a detailed expenses breakup.

Expense Breakdown

Total ₹ 12.72 Cr
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Total ₹ 62.23 Cr
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  • COGS
  • Employee Benefit
  • Warehouse renting & loading
  • Freight charges
  • Legal and professionals charges
  • Others

As the firm prioritized growth, its losses blew 5.33X to Rs 18.03 crore in the fiscal year ending March 2023 as compared to Rs 3.38 crore in FY22. Its ROCE and EBITDA margin stood at -782% and -34.5%, respectively.
On a unit level, Bambrew spent Rs 1.43 to earn a rupee in FY23.


FY22 FY23
EBITDA Margin -34% -34.5%
Expense/₹ of Op Revenue ₹1.36 ₹1.43
ROCE -27% -782%

According to the startup data intelligence platform TheKredible, Anant was the largest stakeholder in the company with 43.20% followed by Bambrew’s early backer Blue Ashva and others before its Series A round.

Bambrew’s losses might have outrun its revenue growth, but the firm has a massive opportunity waiting ahead for it, as the idea of sustainable packaging catches on. Worries around its cost versus traditional plastic packaging are also receding as more and more product categories see it as one key aspect to have to premiumize their offerings. For Bambrew, it all means working to ensure it can meet market demand, and the more and better it controls its costs, the firm will discover that there is pretty much unlimited demand in the near future for it .

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