Curefoods, the Bengaluru-based cloud kitchen operator, recorded a net loss of ₹169.9 crore in FY25—nearly identical to the ₹172.6 crore loss in FY24—on revenues of ₹745.8 crore, marking a robust 28% year-on-year growth. Curefoods FY25 loss highlights the company’s ongoing challenge in achieving profitability.
📈 Growth vs. Profitability
- Revenue growth: Increased from ₹585.2 crore in FY24 to ₹745.8 crore in FY25 (+27.4%)
- Loss trajectory: Marginal reduction from ₹172.6 crore to ₹169.9 crore.
- Operating metrics: ROCE remained negative, and EBITDA margin stayed broadly similar at around –7.5%.
🔍 Segment Highlights
- Desserts: Grew by an impressive 95% YoY, leading revenue contributions.
- Pizza: Revenue rose 18%, while health-food verticals saw a decline. entrackr.com
- Brand ecosystem: Curefoods runs a multi-brand model including EatFit, CakeZone, Shareef Bhai Biryani, and entered the Krispy Kreme and Sbarro franchise spaces.
💼 Balance Sheet & IPO Plans
- Cash reserves: As of March 2025, the company held approximately ₹80 crore in cash and bank balances.
- IPO pipeline: Filed draft papers for an ₹800 crore IPO—₹800 crore fresh issue and OFS of 4.85 crore shares. Major investors like Iron Pillar, Accel, and Chiratae are among those seeking exits.
⚠️ Key Concerns & Outlook
- Loss stagnation: Despite rapid topline growth, Curefoods couldn’t cut its losses significantly.
- Cost structure: Operating expenses surged, with material costs of ₹273 crore, employee expenses ₹180 crore, commissions ₹137 crore, and marketing up 64%. Total expenses reached ₹944 crore (+17% YoY).
- Growth vs. efficiency: The “house of brands” model is scaling fast, but profitability remains elusive.
✅ Summary
Even after delivering strong revenue growth to ₹746 cr, Curefoods’ ₹170 cr loss in FY25 underscores the persistent challenge of converting scale into profit. With an ₹800 cr IPO on the horizon and major investor exits, the company’s ability to control costs and demonstrate a clear path to profitability will be critical for market confidence post-listing.
