Udaan
Financial Performance
Udaan Revenue & Financials
Revenue
~$529.1M (FY2025)
Employees
3,500
What is Udaan's revenue?
Udaan had ~$529.1M in revenue for fiscal year 2025, down 20.1% from 2024. It reported a net loss of ~$122.4M.
- Latest revenue
- ~$529.1M (FY2025)
- Year-over-year
- -20.1%
- Growth rate (CAGR)
- -22.8% over 3 years
- Peak revenue
- ~$1.1B (FY2022)
- Years of data
- 3
- Employees
- 3,500
- How much profit does Udaan make?
- Udaan reported a net loss of ~$122.4M for fiscal year 2025. m.economictimes.indiatimes.com
- How many employees does Udaan have?
- Udaan has about 3,500 employees.
Financial Analysis
Udaan's revenue from operations fell from about $1.15 billion (₹9,900 crore) in FY22 to ~$662 million (₹5,707 crore) in FY24 and ~$529 million (₹4,561 crore) in FY25, while net loss narrowed from ~$363 million (₹3,132 crore) to ~$194 million (₹1,674 crore) and then ~$122 million (₹1,055 crore). The company says EBITDA burn fell about 70% between Q4 2023 and Q1 2026. It raised a $114 million Series G led by M&G and Lightspeed in June 2025, and in July 2026 announced about $160 million of fresh equity, new debt (including roughly $45 million from BlackRock's credit platform) and debt-to-equity conversion to settle a $178 million creditor claim.
Revenue Trend Analysis
YoY Change
-20.1%
3-Year CAGR
-22.8%
Peak Year
2022
Trend
Not enough comparable years
Udaan has 3 full fiscal year figures on this page, compounding at -22.8% annually over 3 years. The most recent year saw a 20.1% decline versus the prior year. Annual revenue peaked in fiscal year 2022 at ~$1.1B. Of 1 comparable year-over-year step, 0 showed growth and 1 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2025 | ~$529.1M | -~$122.4M | -20.1% | Udaan RoC filings as reported by The Economic Times Revenue from operations fell 20%; net loss narrowed 37%. Fiscal year ended 31 March 2025. |
| FY2024 | ~$662M | -~$194.2M | — | Udaan consolidated results (RoC filing) Revenue from operations, fiscal year ended 31 March 2024. |
| FY2022 | ~$1.1B | -~$363.3M | — | Udaan RoC filings as reported by StartupTalky Approximate revenue from operations, fiscal year ended 31 March 2022. |
Click any row to see year details.
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Udaan Revenue and Financial FAQ
What were Udaan's operating revenue and net loss for FY25?
In fiscal year 2025 (FY25), Udaan's operating revenue fell 20% to approximately ₹4,561 crore (~$529 million USD) as it pruned unprofitable cities, while net loss narrowed by 37% to ₹1,055 crore (~$122 million USD).
How has Udaan's revenue trajectory changed since FY22?
Udaan's revenue contracted from roughly ₹9,900 crore ($1.15 billion) in FY22 to ₹5,707 crore in FY24 and ₹4,561 crore in FY25, reflecting deliberate category rationalization (exiting electronics and fashion) to prioritize unit profitability.
How much did Udaan reduce its monthly EBITDA cash burn?
Between Q4 2023 and Q1 2026, Udaan reduced its operational EBITDA cash burn by approximately 70%, driven by warehousing automation, route optimization, and corporate headcount reductions.
What were the terms of the $160 million recapitalization in July 2026?
Following a convertible note default, Udaan secured a $160 million package combining fresh equity from existing backers, debt-to-equity conversions, and roughly $45 million in new senior debt from BlackRock's credit platform, fully extinguishing a $178 million creditor claim.
What was the $114 million Series G funding round in June 2025?
In June 2025, Udaan raised $114 million in a Series G financing round led by UK investment manager M&G Prudential and early backer Lightspeed, providing essential growth capital to complete the ShopKirana buyout.
What is Udaan's gross margin profile in B2B grocery distribution?
Gross trading margins in wholesale grocery typically hover between 3.5% and 6.0%; Udaan expands blended margins toward 7–8% by selling high-margin private labels, brand advertising, and credit financing.
How many days of inventory does Udaan hold in its fulfillment centers?
Through automated replenishment algorithms and fast-moving SKU discipline, Udaan maintains a lean working capital cycle with Days Sales of Inventory (DSI) maintained below 10–14 days.
When does Udaan expect to achieve operational EBITDA breakeven?
Under CEO Vaibhav Gupta's operational turnaround plan, management has guided toward reaching operational EBITDA breakeven around mid-2027, ahead of its planned domestic IPO.
What was Udaan's historical valuation trajectory?
Udaan was valued at $1.0 billion in 2018, peaked at $3.1 billion in 2021, and saw its effective valuation reset to roughly $1.5 to $1.8 billion following market down-rounds, debt restructurings, and category retrenchment.
What is the role of Trustroot Internet Pte Ltd in Singapore?
Trustroot Internet is the Singapore-based parent holding company that owns 100% of Indian operating company Hiveloop Technology Private Limited, and is the entity undergoing the "reverse flip" to redomicile back to India.
How much total capital has Udaan raised since inception?
Udaan has raised over $1.8 billion in total equity and venture debt financing across multiple rounds from investors including Lightspeed, DST Global, GGV Capital, Altimeter, M&G, and BlackRock.
How does Udaan manage credit default risk on UdaanCapital loans?
By setting tight credit limits (₹25,000 to ₹100,000), withholding inventory dispatches to delinquent accounts, and leveraging localized field collection agents, Udaan keeps non-performing assets (NPAs) within manageable industry ranges.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Udaan Revenue & Financials." CorpDigest, https://corpdigest.com/company/udaan/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>Udaan reported ~$529.1M in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/udaan/financials" target="_blank" rel="noopener">CorpDigest — Udaan financials</a></div>Related Financial Audits
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