Boult Audio's net profit declines by 37 pc in FY24, revenue up 41 pc
Boult Audio
, the bootstrapped
consumer electronics
brand, has reported a 37 per cent drop in its net profit to Rs 2.5 crore for the fiscal year 2023-24 (FY24), compared to Rs 4 crore in FY23.
The Delhi-based company, which designs and manufactures
wireless earbuds
, headphones, smartwatches, and speakers, saw its revenue from operations increase to Rs 697 crore in FY24 from Rs 498 crore in the previous fiscal, as per its financials.
Boult also made Rs 5 crore from non-operating revenue, bringing its total revenue to Rs 702 crore.
However, the rising expenses, particularly in materials, advertising, and post-supply discounts, outpaced the
revenue growth
.
Boult's cost of material consumed surged by 25 per cent to Rs 402 crore, making up nearly 58 per cent of its total expenses.
Advertising expenses jumped by 74 per cent to Rs 162 crore, and post-supply discounts saw an 84 per cent increase to Rs 70 crore, as per an Entrackr report.
As a result of these rising costs, Boult's overall expenses climbed by 41 per cent to Rs 699 crore in FY24, according to its financials.
This increase in operational costs significantly impacted the company's bottom line, leading to a sharp decline in its net profit.
The company's domestic sales saw a growth of 45 per cent, reaching Rs 620 crore, while international sales remained stable at Rs 77 crore, contributing 11 per cent to the total revenue.
However, unlike its competitors, Boult has maintained its bootstrapped status and is led by co-founders Varun Gupta and Tarun Gupta, who own a combined 49.5 per cent stake in the company.
According to industry experts, while the company is making efforts to build its brand and prepare for high-volume sales, the growing competition in the consumer electronics market and the rising cost pressures have made it difficult for Boult to maintain profitability.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
27 minutes ago
- News18
Crizac IPO Day 2: Issue Subscribed 75% So Far; Should You Apply? Check GMP, Price, Review
Last Updated: Unlisted shares of Crizac Ltd are trading at Rs 284 over its upper IPO price of Rs 245. It means a GMP of Rs 39 or 15.92% over its issue price, indicating mild listing gains. Crizac IPO GMP Today: The initial public offering of student recruitment solution provider Crizac is witnessing its second day of bidding on Thursday, July 3. The mainboard IPO aims to raise Rs 860 crore. Till 10:24 am on the second day of bidding on Thursday, the issue received a 0.75 times subscription, garnering bids for 1,85,44,732 shares as against the 2,45,71,427 shares on offer. The retail and NII participation stood at 0.95x and 1.18x, respectively. The QIB category received a 0.09x subscription. Crizac Ltd, a B2B education platform founded in 2011, facilitates international student recruitment for global institutions across the UK, Canada, Ireland, Australia, and New Zealand through a network of over 7,900 agents in more than 75 countries via its proprietary tech platform. Crizac IPO GMP Today According to market observers, unlisted shares of Crizac Ltd are currently trading at Rs 284 over its upper IPO price of Rs 245. It means a grey market premium or GMP of Rs 39, which is 15.92% over its issue price, indicating mild listing gains for investors. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. The price band of the IPO has been fixed in the range of Rs 233 to Rs 245 apiece. Its minimum lot size is 61. It means investors will have to apply for a minimum of 61 shares or in multiple thereof. Retail investors require a minimum capital of Rs 14,945 to apply for the IPO. Crizac Limited, a B2B international education platform, has received largely positive reviews from brokerages for its initial public offering (IPO), with most recommending investors to subscribe to the issue. The company's strong financials, tech-driven platform, and global presence have contributed to optimism, though a few concerns remain around regulatory risks and concentration of revenue from top institutions. SBI Securities – Subscribe SBI Securities sees diversification into new geographies and B2C services as key levers for future growth. 'Crizac has registered a CAGR of 76% in revenue, 43% in EBITDA, and 18% in PAT over the last two years, reaching Rs 849 crore, Rs 213 crore, and Rs 153 crore, respectively," it said. The brokerage noted the IPO is valued at a P/E of 28 times FY25 earnings, and compared to peers, is 'fairly priced". With upcoming expansion into the US market and a push towards ancillary services, the firm recommended investors to subscribe. Choice Broking – Subscribe According to Choice Broking, Crizac's demand valuation of 28x P/E and 4.8x EV/sales is reasonable. The firm highlighted Crizac's ability to maintain profitability without external funding and its sticky client base through offerings such as university office management. 'With a growing student pool and expansion into high-potential regions like the US, Crizac is well-placed for sustainable growth," it noted, giving a 'subscribe' recommendation. Chola Securities – Subscribe for Listing Gains Chola Securities is positive on the B2C diversification strategy, particularly student loans, visa help, and accommodation services. 'The company is valued at a P/E of 28.03x and operates in a structurally growing sector driven by demographics and skill migration," it said. It expects potential listing gains due to the industry tailwinds and Crizac's growth trajectory, and hence issued a 'subscribe' rating for listing gains. Canara Bank Securities – Subscribe (Long-Term) Canara Bank Securities flagged regulatory risks, such as recent international student caps in Canada, but remains positive overall. It emphasised Crizac's strong financials with revenue and EBITDA growing at CAGRs of 76% and 43%, respectively. 'The company is priced at 28x P/E, in line with its listed peer, but slightly higher on PB. Despite this, Crizac's wide agent and university network positions it well to benefit from growing outbound student trends," it noted, recommending a 'subscribe' for long-term gains. BP Equities – Subscribe BP Equities cited Crizac's leadership in UK-bound student recruitment and scalable operations as key strengths. 'The valuations are reasonable considering its growth momentum and differentiated B2B positioning," it stated. The brokerage gave a clear 'subscribe' rating based on Crizac's financial performance and expansion strategy. Ventura Securities – Subscribe for Long-Term Ventura Securities believes Crizac is well-positioned to benefit from rising global demand for education abroad. 'Its strategy includes expanding its agent network, strengthening its tech platform, and deepening relationships with institutions and agents," the brokerage said. It highlighted Crizac's emphasis on long-term institutional and agent ties, and issued a 'subscribe for long-term' call, especially considering its broad international presence. Crizac IPO Allotment And Listing Dates As the IPO will close on July 4, its basis of allotment will be finalised on July 7. Its listing will take place on both BSE and NSE on July 9. The IPO is entirely an offer for sale (OFS) of equity shares worth Rs 860 crore by promoters Pinky Agarwal and Manish Agarwal with no fresh issue component, as per the Red Herring Prospectus. The OFS consists of the sale of equity shares worth Rs 723 crore by Pinky Agarwal and Rs 137 crore by Manish. Since the issue is an OFS, Crizac will not receive any proceeds from the IPO. The company has collected Rs 258 crore from anchor investors ahead of the launch of its initial share sale for public subscription. The company, which had proposed to raise Rs 1,000 crore in November last year, has trimmed the issue size to Rs 860 crore. It did not provide any specific reason for the downward revision in offer size. Crizac initially filed its preliminary IPO papers with Sebi in March 2024. The regulator had returned the documents in July. Thereafter, the company refiled the papers in November, which were approved by the regulator in March this year. The Kolkata-based firm is a B2B education platform for agents and global institutions, offering international student recruitment solutions to global institutions of higher education in the UK, Ireland, Canada, Australia and New Zealand. The company reported a revenue from operations of Rs 849.49 crore and a profit after tax of Rs 152.93 crore in the full financial year 2025. top videos View all The company's shares will be listed on the BSE and NSE. Equirus Capital and Anand Rathi Advisors are the book-running lead managers, while MUFG Intime India is the registrar for the IPO. About the Author Mohammad Haris Haris is Deputy News Editor (Business) at He writes on various issues related to markets, economy and companies. Having a decade of experience in financial journalism, Haris has been previously More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : initial public offering (IPO) IPO Location : New Delhi, India, India First Published: July 03, 2025, 10:36 IST News business » ipo Crizac IPO Day 2: Issue Subscribed 75% So Far; Should You Apply? Check GMP, Price, Review
Economic Times
28 minutes ago
- Economic Times
Rs 9,300 crore stake! NSE IPO to unlock massive value for billionaire Radhakishan Damani
Radhakishan Damani, a prominent investor, is poised to benefit significantly from his 1.58% stake in the National Stock Exchange (NSE) as it approaches its IPO. Ace investor Radhakishan Damani is set to benefit from his investment in the National Stock Exchange. He holds a significant stake in NSE. The exchange is preparing for its IPO. Damani's investment could substantially increase his net worth. The IPO is expected in FY26. It will attract considerable investor interest. The listing could unlock value from his long-term investment. Tired of too many ads? Remove Ads A Rare Play in Financial Infrastructure Tired of too many ads? Remove Ads IPO Catalyst on the Horizon Ace investor Radhakishan Shivkishan Damani , often hailed as one of India's sharpest market minds, stands to gain substantially from his strategic stake in the National Stock Exchange NSE ), which is inching closer to its long-awaited IPO. According to shareholding filed, Damani holds a 1.58% stake in NSE, amounting to 3.91 crore shares. At the latest unlisted market price of Rs 2,389 per share, his stake is valued at a staggering Rs 9,300 crore. It's important to highlight that it is still unclear whether Damani intends to sell any part of his stake in the forthcoming makes NSE his second-largest holding by value—right after Avenue Supermarts (DMart), the retail giant he founded. It places well ahead of other key positions in his portfolio, including Trent (Rs 2,788 crore) and VST Industries (Rs 1,560 crore), underscoring the sheer scale and significance of this financial infrastructure play in his investment investment could add substantial momentum to Damani's net worth as NSE prepares for a long-awaited listing — expected sometime in FY26, following SEBI 's green light for DRHP filing, potentially by July Damani's portfolio is best known for high-conviction bets in the retail sector — most notably his Rs 1.92 lakh crore stake in Avenue Supermarts (DMart) — his quiet bet on NSE reflects a broader investment strategy that includes high-value, low-noise assets in India's financial a portfolio valued at over Rs 1.99 lakh crore across 12 publicly disclosed companies (as of March 2025), Damani's stake in NSE stands out as potentially one of the most rewarding in the near NSE's IPO is expected to attract massive investor interest, given its strong financials, market dominance, and monopoly status in the cash equities segment. For Damani, the listing could unlock considerable value from a long-term, pre-IPO investment that has now come full the exchange resolves its regulatory hurdles — including legacy co-location and dark fiber issues — the IPO timeline is taking shape. Post SEBI's no-objection certificate, the filing of the Draft Red Herring Prospectus (DRHP) and subsequent approval process is expected to stretch into late 2025, with a potential listing in Q4 FY26.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
29 minutes ago
- Mint
I want to invest in my NRI daughter's PPF—am I eligible for a Section 80C tax benefit?
Q. My daughter is settled in the UK after her marriage in 2021 and is a British passport holder. She had opened her PPF (Public Provident Fund) a/c in 2016 when she was in India. She also has savings bank accounts jointly with her mother. She does not have any source of income in India now. Can I deposit ₹ 1.5 lakh every year in her PPF account till maturity just to keep it alive, or should it be closed before the maturity period of 15 years? Though I have my own PPF account also, where I deposit ₹ 1.5 lakh every year. I filed my own ITR as a senior citizen. Can she continue her SB account as the 1st holder, or does she have to change her status in the savings bank account? Your daughter had become a non-resident under FEMA (Foreign Exchange Management Act) the day when she left India after her marriage. As per the PPF rules, a non-resident under FEMA cannot open a PPF (Public Provident Fund) account. However, he can continue to contribute to the PPF account which was opened when he/she was a resident even after becoming a non-resident. In such cases the PPF account cannot be extended beyond the initial period of 15 years. The money in a PPF account is non-repatriable, and thus the maturity proceeds can only be deposited in an NRO (Non-Resident Ordinary) account and not the NRE (Non-Resident External) account. Please note that a non-resident can remit up to 10 lakh US dollars from his NRO account every year after paying taxes in respect of the money being remitted, if any tax is payable here in India. Since you already are depositing Rs. 1.50 lakhs in your own account and thus availing full tax benefit under Section 80C, you need not deposit another Rs. 1.50 lakhs in her account, as it will not result in any additional tax benefit. To keep this account alive for 15 years, you just need to deposit Rs. 500 every year. Moreover, as per the PPF rules, a person cannot deposit more than 1.50 lakhs in his account and his children's PPF account taken together. So if you want to deposit ₹ 1.50 lakhs, I would advise you to give this money to her and then contribute ₹ 1.50 lakhs from her bank account. Since she has become a non-resident under FEMA, she should change her status to the bank, and the bank will then re-designate the existing savings bank account as an NRO account. Read all our personal finance stories here. Balwant Jain is a tax and investment expert and can be reached at jainbalwant@ and @jainbalwant on his X handle. Disclaimer: The views and recommendations made above are those of individual analysts, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
