Headsup B2B gross scales over 8X in FY24; profits spikes 88%

B2B goods and services platform Headsup B2B achieved over 8X growth from the previous year during the fiscal year ending March 2024. During the same period, the company achieved a remarkable profit growth of over 88%.

Headsup B2B’s revenue spiked to Rs 43.4 crore in FY24, from Rs 5 crore in FY23, as per its annual financial statement filed with the Registrar of Companies (RoC) shows.

Headsup B2B supplies  variety of infrastructure goods including TMT bar, structural steel, tiles, sanitary fittings and electricals etc  in B2B market pan India.

For the B2B goods platform, the cost of procurement of construction materials formed the largest cost component forming approximately 96.8% of the overall expenditure. To the tune of scale, this cost spiked 12X to Rs 41.34 crore in the last fiscal year. Employee benefit expenses saw a modest increase of 3.3% to Rs 62 lakh, while finance costs rose to Rs 21 lakh. Overall, the company’s total expenses surged 9X to Rs 42.7 crore during the last fiscal year, from Rs 4.6 crore in FY23.

Headsup B2B achieved a PAT of Rs 64 lakh in FY24, a notable 88.2% increase from Rs 34 lakh in FY23. Its ROCE and EBITDA margins improved to 65% and 2.52%, respectively.

Headsup B2B raised 18.89 cr few months back. On the back of the fundraise, Headsup B2B is targeting Rs 150 crore in revenue for the current fiscal year.

Headsup B2B is an emerging player in the B2B construction goods marketplace, a segment which has been dominated by established players like OfBusiness, Moglix, and Infra.Market.

Highlighting the scope of Headsup B2B, its founder, Sumit Kumar, said, "B2B space offers untapped potential into areas that are yet to be explored by well-funded companies and this gives us an interesting proposition to explore such segments.”

According to Sumit Kumar, the company plans to initiate a fundraising campaign soon. "Our business model is more capital-efficient compared to our competitors. We aim to let our performance metrics speak for themselves, building the trust we need from potential investors," he said.