Pepperfry
Financial Performance
Pepperfry Revenue & Financials
Revenue
~$21.6M (FY2025)
Employees
2,200
What is Pepperfry's revenue?
Pepperfry had ~$21.6M in revenue for fiscal year 2025, down 1.4% from 2024. It reported a net loss of ~$9.9M.
- Latest revenue
- ~$21.6M (FY2025)
- Year-over-year
- -1.4%
- Growth rate (CAGR)
- -17.3% over 2 years
- Peak revenue
- ~$31.6M (FY2023)
- Years of data
- 3
- Employees
- 2,200
- How much profit does Pepperfry make?
- Pepperfry reported a net loss of ~$9.9M for fiscal year 2025. inc42.com
- How many employees does Pepperfry have?
- Pepperfry has about 2,200 employees.
Financial Analysis
Pepperfry's operating revenue peaked at about $31.6 million (₹272 crore) in FY23, when it lost ~$21.8 million (₹187.6 crore) and reported gross delivered value of ~$130 million (₹1,117.5 crore). In FY24 revenue dropped 30.6% to ~$21.9 million (₹188.9 crore) while the loss narrowed 37.4% to ~$13.6 million (₹117.5 crore) on cost cuts. Inc42 data puts FY25 revenue at ~$21.6 million (₹186.2 crore), and ETRetail reported FY25 losses narrowing to about $9.86 million (₹85 crore). Cash was raised in small rounds: $5.1 million from existing investors in June 2025 and a ₹158.4 crore (about $17.6 million) down round led by Morde Foods and SageOne in early 2026, priced at ₹391 per share. For the December 2025 quarter Pepperfry reported GMV of ~$18.2 million (₹157 crore) and GDV of ~$16.6 million (₹143 crore). Pepperfry is India's absolute largest online furniture and home decor marketplace, commanding a private market valuation estimated at over $500 million.
Revenue Trend Analysis
YoY Change
-1.4%
2-Year CAGR
-17.3%
Peak Year
2023
Trend
Not enough comparable years
Pepperfry has 3 full fiscal year figures on this page, compounding at -17.3% annually over 2 years. The most recent year saw a 1.4% decline versus the prior year. Annual revenue peaked in fiscal year 2023 at ~$31.6M. Of 2 comparable year-over-year steps, 0 showed growth and 2 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2025 | ~$21.6M | -~$9.9M | -1.4% | Inc42 company data; loss per ETRetail (approximate) Fiscal year ended 31 March 2025. Net loss reported as about $9.86 million (₹85 crore). |
| FY2024 | ~$21.9M | -~$13.6M | -30.6% | Economic Times / Inc42 (RoC filings) Operating revenue, fiscal year ended 31 March 2024. |
| FY2023 | ~$31.6M | -~$21.8M | — | Economic Times (Tofler filings) Operating revenue, fiscal year ended 31 March 2023 (approximate). |
Click any row to see year details.
Keep researching Pepperfry
Pepperfry Revenue and Financial FAQ
What is Pepperfry's revenue?
Pepperfry reported operating revenue of about $31.6 million (₹272 crore) in FY23, ~$21.9 million (₹188.9 crore) in FY24 and ~$21.6 million (₹186.2 crore) in FY25 (Inc42 data). Losses narrowed from ~$21.8 million (₹187.6 crore) in FY23 to ~$13.6 million (₹117.5 crore) in FY24 and about $9.86 million (₹85 crore) in FY25.
How much funding has Pepperfry raised?
Pepperfry raised more than $300 million before 2024 from investors including Norwest Venture Partners, Bertelsmann India Investments, Goldman Sachs, General Electric Pension Trust and Pidilite, then $5.1 million in June 2025 and ~$18.4 million (₹158.4 crore) in an early-2026 down round led by Morde Foods and SageOne.
Is Pepperfry profitable?
No. Pepperfry has reported losses every year in available filings, though cost cuts narrowed the loss from ~$21.8 million (₹187.6 crore) in FY23 to ~$13.6 million (₹117.5 crore) in FY24 and about $9.86 million (₹85 crore) in FY25.
How many studios does Pepperfry operate?
About 110 Studio Pepperfry outlets in 65 cities as of early 2026, with 55-60 more planned during 2026.
How does Pepperfry manage working capital and inventory risk?
Pepperfry minimizes working capital risk by operating a just-in-time (JIT) build-to-order manufacturing model for custom solid wood pieces and relying on merchant-held inventory for third-party marketplace items, holding inventory primarily for fast-moving private-label bestsellers.
Is Pepperfry going public?
Pepperfry prepared for a 2023 IPO but did not list. It is now a subsidiary of BSE-listed TCC Concept Ltd, so investors gain exposure through TCC shares.
What is Pepperfry's unit economics profile on bulky furniture deliveries?
Delivering bulky solid-wood furniture incurs heavy logistics, packaging, and damage expenses. Pepperfry optimized unit economics by operating PepKart in-house, reducing transit damage rates below 1.5% and utilizing regional distribution hubs to minimize line-haul mileage.
What was the financial valuation trajectory of Pepperfry before its 2025 buyout?
Pepperfry raised over $285 million across multiple funding rounds from premier investors including Norwest Venture Partners, Bertelsmann India Investments, and State Street, reaching a peak private valuation of nearly $500 million in 2021 before being acquired by TCC Concept for ~$76.6 million in 2025.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Pepperfry Revenue & Financials." CorpDigest, https://corpdigest.com/company/pepperfry/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Pepperfry reported ~$21.6M in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/pepperfry/financials" target="_blank" rel="noopener">CorpDigest — Pepperfry financials</a></div>Related Financial Audits
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