NEW DELHI: Homegrown audio and wearables major boAt (Imagine Marketing Limited) has made a return to profitability in FY25 after two consecutive years of losses. The company posted a consolidated net profit (PAT) of over Rs 60 crore and EBITDA of Rs 142+ crore in FY25, compared to a net loss of Rs 79.7 crore in FY24. The turnaround, as per boAt, was driven by category leadership, product innovation, and disciplined cost control.
The Gurugram-based company is set to become the first Indian D2C electronics brand to go public after receiving market regulator Sebi’s nod for its IPO. Sebi has cleared its confidential DRHP, and the company is reportedly eyeing a Rs 2,000 crore raise.
The company reported a consolidated revenue of Rs 3,097.8 crore, supported by sustained market dominance in audio, strategic growth in wearables, and strong traction in new businesses.
This turnaround followed a significant reduction in losses in FY24, where losses had dropped from Rs 129.5 crore in FY23 to Rs 79.7 crore in FY24. On a standalone basis, revenue in FY25 stood at Rs 3,089.6 crore with a net profit of Rs 64.2 crore, underscoring the strength of the company’s financial recovery.
Sameer Mehta, Co-founder and Executive Director of boAt, said that their ability to innovate, scale new categories, and adapt quickly to evolving consumer preferences has kept us ahead in a dynamic market.
Gaurav Nayyar, CEO, boAt, said, “Through cost discipline, innovation, and a deep understanding of consumer needs, we have not only returned to profitability but also laid the foundation for long-term sustainable growth. From strengthening our leadership in audio to reimagining wearables and entering new categories, we are building a future-ready, diversified organization.”
boAt said that it accelerated its “Make in India” journey, with over 70% of volumes now manufactured domestically. It also scaled its localization initiatives across PCBs, plastics, and other components. These measures, combined with a reduction in working capital from 71 days in March 2024 to 36 days in March 25, enhanced the company’s financial agility and positioned it for sustainable growth, said the company.
In addition to domestic growth, boAt has expanded its international footprint, gaining traction in GCC markets. boAt said it is well positioned to sustain its growth momentum in FY26 and beyond.
In FY25, boAt claims its leadership in the audio category, maintaining a strong double-digit share in India’s personal audio segment while ranking as the third-largest company globally in branded personal audio. The company also diversified its portfolio, expanding into new growth segments.