Licious reports Rs 795 Cr revenue in FY25; cuts EBITDA losses by 45%

Direct to consumer (D2C) meat and seafood brand Licious recorded a 16% year-on-year growth in its operating scale during the fiscal year ending March 2025. According to the company’s press release, its revenue grew to Rs 795 crore in the last fiscal year. 

The Bengaluru-based firm also claimed to narrow EBITDA losses by 45%.

For context, Licious saw a 9% revenue decline in the last fiscal year (FY24) due to an operational reset, but the last fiscal year (FY25) indicated a recovery led by its omnichannel approach.

While Entrackr will analyze the company’s detailed financials once it files its annual statement with the RoC, Licious said it reduced EBITDA losses by 45% to Rs 163 crore in FY25 from Rs 296 crore in FY24. The company credited this improvement to cost control measures and better contribution margins across business lines.

Licious claims to serve over 1.2 million monthly customers across 20 cities, with online sales contributing more than 85% of overall revenue. Offline expansion also gathered pace, with the brand crossing 50 retail outlets, including the My Chicken and More chain it acquired in February FY25. 

Licious plans to scale its retail footprint to 80–100 stores by FY26.

Meanwhile, the company’s H1 FY26 revenue rose 42% year-on-year to Rs 530 crore, according to the release. Its quick delivery service, Licious Flash, now serves 60% of its online customers.

To date, the Temasek-backed firm has raised over $450 million. According to TheKredible, Mayfield India holds the largest stake in Licious at 14.69%, followed by Vertex Ventures, 3one4 Capital, and others. It competes with FreshToHome, Zappfresh, BBDaily, MeatRoot, and Easymeat.