New Delhi, Delhi, India
Rattanindia Enterprises (REL), a leading Company that is building businesses in new-age sectors including e-commerce, fintech, drone solutions and electric motorcycles, announced its financial results for the quarter and full year ended March 31, 2022.Key performance highlights
Ecommerce business in Cocoblu has scaled up massively:
Achieved YTD revenue of Rs. 400 crore (adds to Consolidated revenue of REL): Q1 FY23 (upto 29th May, 2022) – Rs. 389 crore; Q4 FY22 – Rs. 11 crore
Pan India servicing: 19,000+ PIN Codes served
499 top brands already signed up. To go up to 600 by Q2 FY23
40 lakhs+ orders fulfilled
15 lakhs+ unique items stocked and being sold
Achieved 4-star review ratings on Amazon marketplace
BankSe has disbursed 1,043 loans with total value of Rs. 25 crore+ till date
NeoSky has kick-started its revenue journey with the acquisition of 60 percent stake in Throttle Aerospace (TAS)
Revenue of Revolt for FY22: Rs. 160 crore (does not get added to REL consolidated financials since Revolt is an associate)
Commenting on the performance, Anjali Rattan Nashier, Business Chairperson of RattanIndia Enterprises Limited said, “Our performance during the period truly captures the evolution of our business mix. Tapping a vast opportunity underscored by India’s changing consumer dynamics, we are scaling up in step with plan. The growth in terms of our delivered performance is only matched by our aspiration to create a defining mark in the business. Each of our verticals has seen an almost frenzied build out of capabilities and is being steered by industry veterans clued into new age approaches. We are proud of what we have achieved this far.”Across Cocoblu, we have seen a surge in volumes in keeping with segments of operation. Our teams are engaged in offering world class service solutions to brands/partners, helping them maximise potential on popular e commerce platforms. Our journey has just begun, and we expect this scale up to accelerate further. BankSe is building a robust consumer franchise as India’s premier fintech intermediary, with the model set to expand rapidly from here on. Our NeoSky business is gearing up to full drive drone solutions including indigenous manufacturing. The acquisition of controlling stake in TAS places us at the forefront of this fast-expanding sector.
“We are creating an ecosystem of success, and believe we have the right ingredients and resources to translate our vision into tangible outcomes. The times to come will see multi-levered growth across all our ventures”.