According to its annual financial statements sourced from the Registrar of Companies (RoC), Snitch’s revenue from operations surged to Rs 498 crore in FY25, up from Rs 241 crore in FY24, underscoring sustained demand for its affordable, trend-driven men’s apparel and accessories.

Strong Revenue Growth Driven by Core Apparel Business

Founded in 2020 by Siddharth Dungarwal, Snitch sells men’s clothing and accessories primarily through its own website and mobile app. Income from apparel and accessories remains the company’s sole revenue stream, though it has recently expanded into the quick commerce segment to improve delivery speed and customer reach.

The brand’s digital-first strategy and rapid product refresh cycles have helped it maintain momentum in a highly competitive D2C fashion landscape.

Rising Costs Accompany Rapid Scale

On the expense side, procurement costs remained the largest cost centre, accounting for nearly 45% of total expenditure. With expanding scale, procurement expenses more than doubled to Rs 230 crore in FY25.

Employee benefit expenses stood at Rs 65 crore, while advertising and marketing costs rose to Rs 83 crore, reflecting continued investments in brand visibility and customer acquisition. Additional overheads, including rent, marketplace commissions, logistics, and technology costs, pushed overall expenses to Rs 508 crore in FY25, compared to Rs 236 crore in FY24.

Losses Contained Despite Doubling Scale

Despite the sharp rise in costs, Snitch managed to keep losses under control, staying close to breakeven in FY25. This follows a Rs 4 crore profit reported in FY24, highlighting the company’s improving operating discipline even as it scales rapidly.

For FY25, Snitch reported EBITDA margins of -1% and ROCE of -5.8%. On a unit economics basis, the company spent Rs 1.02 to earn every rupee of revenue, signalling near-operational balance. As of FY25, its total current assets stood at Rs 226 crore, providing liquidity support for ongoing expansion.

Funding and Competitive Landscape

According to startup data intelligence platform TheKredible, Snitch has raised over $53 million to date, including a $40 million Series B round led by 360 ONE Asset in June last year.

Snitch operates in an increasingly crowded D2C fashion market, competing with brands such as The Souled Store, which reported 36% revenue growth to Rs 492 crore in FY25. It also faces competition from Rare Rabbit, which recently raised $6 million from A91 Partners and is targeting Rs 1,000 crore in revenue, and Wrogn, which secured $9 million in funding from Aditya Birla Digital Fashion.

As competition intensifies, Snitch’s ability to balance growth with profitability will be closely watched by investors and industry observers alike, especially as the brand pushes toward sustainable scale in India’s fast-evolving D2C fashion ecosystem.

The post Snitch Nears Rs 500 Cr Revenue in FY25, Stays Close to Breakeven appeared first on The India Bizz Startup News Website.

The post Snitch Nears Rs 500 Cr Revenue in FY25, Stays Close to Breakeven appeared first on The India Bizz Startup News Website.