‘FNP will be profitable again this fiscal’

After aggressive expansion that saw its losses balloon in FY23, Ferns N Petals (FNP) has engineered a sharp turnaround. Global CEO & Director Pawan Gadia tells Anees Hussain how the company plans to scale up both domestic and international operations. Excerpts:

- @ PAWAN GADIA, GLOBAL CEO & DIRECTOR, FERNS N PETALS

FNP cut losses significantly in FY24 and turned Ebitda positive in FY25. What’s the profitability outlook for this year?

We reported around 1% positive Ebitda in FY25.And we will be back to being profitable at profit after tax level by the end of FY26.In terms of revenue we ate aiming for somewhere around $1,100 crore net revenue by the end of FY26. The year thereafter, we’re looking at 30% growth.Andall of this growth is going to be profitable. Both India and international business will continue to growat 30% year-on-year.

What went wrong in FY23 that led to losses?

When we raised the money, internally we thought that now the business will change. Three places where we spent very disproportionate money were on people, marketing, and infrastructure. Our tech team, which was 70 people, had ballooned to 220. We were advertising on TV, putting up ads in newspapers. When we realised this wasn’t working in FY24 we pulled back immediatelly.

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