On Friday, February 27, 2026, financial filings revealed that Ferns N Petals (FNP), the leading Indian gifting and floral retail company, reported a net loss of ₹22 crore for the fiscal year ended March 31, 2025 (FY25).
While the company remains in the red, the results show a significant narrowing of losses compared to previous years, indicating that FNP’s aggressive “turnaround strategy” is beginning to yield results.
FY25 Financial Performance: Narrowing the Gap
Despite the reported loss, FNP demonstrated strong top-line growth and improved operational efficiency:
| Metric | FY25 (Reported) | FY24 (Previous) | Change (%) |
| Operating Revenue | ₹861.5 crore | ₹705.4 crore | +22% |
| Total Income | ₹869 crore | ₹712 crore | +22% |
| Total Expenses | ₹890 crore | ₹736.7 crore | +21% |
| Net Loss | ₹22 crore | ₹24.3 crore | Narrowed by 8.3% |
- Consolidated Improvement: This ₹22 crore loss is a massive improvement from the ₹109.5 crore loss the company faced just two years ago in FY23.
- Unit Economics: FNP spent approximately ₹1.03 to earn every ₹1 of operating revenue in FY25, a slight improvement from ₹1.04 in the previous year.
What is Driving the Recovery?
FNP’s “turnaround” is built on three major pillars implemented over the last 18 months:
- Quick Commerce Pivot: FNP has aggressively entered the 30-minute delivery space to compete with platforms like Blinkit and Zepto. Its quick commerce revenue jumped from ₹7 crore in FY24 to ₹40 crore in FY25, with a target of ₹100 crore for next year.
- Marketing Efficiency: The company famously “pulled back” on ineffective advertising that led to the FY23 losses. In FY25, while ad spend rose 17% (to ₹184 crore), it was more targeted toward high-conversion gifting categories.
- Core Dominance: Gifting (cakes, flowers, and personalized items) remains the engine, contributing 91% of total revenue and growing 22% year-on-year.
The Path to “PAT Positive” & IPO
FNP CEO Pawan Gadia has stated that the company aims to be profitable at the PAT (Profit After Tax) level by the end of FY26.
- FY26 Revenue Target: The company is aiming for a net revenue of ₹1,100 crore by March 2026.
- International Growth: Markets like the UAE (expected to contribute ₹300 crore by FY26) are already largely profitable, helping to offset the higher customer acquisition costs in the domestic Indian market.
- IPO Readiness: FNP is currently cleaning up its balance sheet in preparation for a potential Initial Public Offering (IPO) by late 2026 or early 2027.
Challenges Ahead
Despite the positive trajectory, FNP faces a “rampant threat” from quick delivery cohorts. Platforms like Swiggy Instamart and Blinkit are increasingly overlapping with FNP’s core business (flowers and cakes), forcing FNP to maintain high marketing spends to protect its brand recall.
