Cofounder & CEO of Zepto Aadit Palicha recently took to LinkedIn to share an important milestone in the journey of his young startup.
The FY24 audited financial statement of Zepto is now available publicly and it has several interesting developments.
Zepto CEO Proudly Presents the latest Audited Financial Statement of the Startup
Palicha pointed out the key takeaways from the statement which paint an impressive picture of the company’s financials. He said: “Despite being only 3 years old, we were able to successfully close a full statutory audit by a Big 4 firm with no financial qualifications and a clean CARO. This rare achievement for a young startup is the outcome of a governance-focused culture at Zepto and early decision-making that prioritized controllership excellence (like SAP FICO integration, automated revenue-to-cash reconciliation, set up of an H2H payment system etc).”
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Further, he also took the opportunity to praise and acknowledge key executives of the firm that he believes were absolutely essential for the company’s success, “More importantly, this was only possible because of our excellent finance team led by our CFO Ramesh Bafna and our Chief Controller Sandip Khetawat, both of whom I have been privileged to learn from :)”
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Zepto Boasts Impressive Financials
The celebrated CEO also presented key highlights about the young company’s financials. He wrote:” Our accounting revenue has grown 120% year-on-year from INR 2,025 Crores in FY23 to INR 4,454 Crores in FY24. Even with 120% growth, our absolute losses came down year-on-year with PAT as a % of revenue improving from -63% in FY23 to -28% in FY24. We expect to continue this growth momentum with a clear path to PAT profitability in the near term.”
