boAt makes turnaround in FY25 with Rs 60 Cr profit

Consumer electronics firm boAt reported a net profit of Rs 60 crore in FY25, a significant turnaround for the Gurugram-based company as it curtailed losses across its business segments.

The company’s austerity measures also slightly impacted its top line which stood at Rs 3,073 crore in FY25 from Rs 3,118 crore in FY24, according to company’s financial documents reviewed by Entrackr.

Sales of products such as earbuds, speakers, airdopes, and wireless speakers contributed Rs 3,070.4 crore to the company’s revenue, while other operating income added Rs 2.9 crore. Including non-operating income, boAt’s total revenue stood at Rs 3,098 crore in FY25, as per the doc.

India remained its core market, accounting for Rs 3,050.5 crore in sales, while international revenue grew 44% year-on-year to Rs 20 crore in FY25.

Audio continued to power growth with Rs 2,586 crore in revenue (up 5%), whereas the wearables segment shrank sharply by 40% to Rs 330.4 crore.

On costs, boAt cut overall expenses by 6% to Rs 3,040 crore. Purchases of stock-in-trade were the largest cost expenditure for boAt, which dropped by 8.9% to Rs 2,070 crore in FY25 from Rs 2271 crore in FY24.

According to the documents, its ad spending rose around 7% to Rs 390 crore, while the employee costs grew slightly by 3.1% to Rs 135 crore in the fiscal year ending March 2025.

boAt has raised over $170 million to date, including a $60 million round led by Warburg Pincus and Malabar Investments in 2023. According to startup data intelligence platform TheKredible, Warburg Pincus is the largest external stakeholder, followed by Fireside Ventures and Qualcomm.

Imagine Marketing, the parent of boAt, is set to become the first Indian D2C electronics brand to go public after receiving SEBI’s nod for its IPO. The markets regulator has cleared its confidential DRHP, and the company is eyeing a Rs 2,000 crore raise, including a Rs 900 crore fresh issue.