Eggoz hits Rs 130 Cr revenue in FY25; cuts losses

While Eggoz has been in the news in recent weeks over a controversy, the branded egg producer delivered a strong financial performance in FY25, posting robust revenue growth along with a marginal decline in losses during the fiscal year.

Eggoz’s revenue from operations rose 78% year-on-year to Rs 130 crore in FY25 from Rs 73 crore in FY24, according to its standalone financial statements sourced from the Registrar of Companies (RoC).

Founded in 2017 in Bihar by Abhishek Negi, Aditya Singh, and Uttam Kumar, Eggoz operates an asset-light, farmer-led supply chain model that enables fresh eggs to reach retailers within 24 hours. Over the years, the company has expanded its presence across key markets, including Delhi-NCR, Bengaluru, Kolkata, Jaipur, and Lucknow.

The sale of eggs remained the sole contributor to Eggoz’s operating revenue in FY25. That said, the company has recently expanded beyond shell eggs by foraying into the ready-to-cook segment with offerings such as momos, burger patties, and nuggets.

On the expense side, procurement of eggs continued to be the largest cost centre, accounting for nearly 67% of total expenditure. Procurement costs increased to Rs 103 crore in FY25, largely in line with the company’s revenue growth. Employee benefit expenses rose to Rs 20 crore during the year, including Rs 3 crore towards ESOP-related costs.

Freight, advertising, rent, and other overheads pushed Eggoz’s total expenditure to Rs 154 crore in FY25, up from Rs 100 crore in the previous fiscal. (See TheKredible for a detailed breakdown of the company’s costs.)

Despite higher operating expenses, improved scale helped Eggoz reduce its net losses by 8% to Rs 23 crore in FY25 from Rs 25 crore in FY24. The company also reported improvements in EBITDA, return on capital employed (ROCE), and its expense-to-revenue multiple during the year.

According to the company, Eggoz reached a peak brand annual revenue run rate (ARR) of Rs 200 crore and achieved EBITDA breakeven in Q4 FY25, driven by strong consumer demand and expanded distribution.

Eggoz has raised over $32 million in funding to date. This includes a $20 million round led by Gaja Capital. Prior to this, the company raised $8.8 million in a Series B round led by IvyCap Ventures, $3.5 million in Series A funding, and Rs 3.7 crore during its seed stage.

While the narrowing of the gap between expenses and earnings would have foretold a possibly profitable Fy 26, the needless controversy around allegedly ‘carcinogenic’ eggs might have hurt the brand. Not just in terms of sales (low), but also possible expenses incurred in fighting the narrative that was used against the firm. The incident highlights the fragile nature of reputation nowadays, and the need for firms to take all steps to protect it, besides a better SOP on responding to such situations. One hopes Eggoz has learnt its lessons well enough to continue to deliver. In a protein-deficient diet that is an issue around the country, startups like Eggoz have ensured incentives for smaller poultry farmers to stay interested, rather than allow the market to slip stream away to purely industrial-grade layer farms, hopefully.  India is far too diverse and rich in its environment to need to follow the massive industrialisation model that has characterised poultry farming increasingly, and models like Eggoz are a welcome push to explore other avenues.