Licious Posts 16% Revenue Rise at INR 795 Crore in FY25; Cuts Losses by 45%

Online meat and seafood brand Licious reported double-digit growth in FY25.
Revenue grew 16% year-on-year to INR 795 crore, compared with INR 685 crore in FY24.

During this period, the company improved its cost structure. EBITDA loss reduced by 45%, falling from INR 296 crore in FY24 to INR 163 crore in FY25. The company said this improvement came from better margins and tighter cost control.

Licious had seen a 9% revenue drop in FY24 due to an operational reset.
But FY25 showed a strong recovery, led by its omnichannel business strategy.

Continued Momentum in FY26

The growth has continued into FY26. In the first half of FY26, Licious recorded INR 530 crore in revenue, up 42% from INR 374 crore in the same period last year.

Licious now serves 1.2 million monthly customers across 20 cities in India.
More than 85% of total sales come from online channels.

Licious: How it is Emerging as a One-Stop Platform for Fresh Meat & Sea Food | Business Model | Owners |

Licious is a Bengaluru-based meat and seafood brand. The company serves the best, fresh, and clean fish, chicken, meat, and eggs online. Know about the Licious Startup story, its Founders, Business model, Revenue, Shareholding, Financials, and Growth story here. Know more on Licious Wikipedia.

StartupTalky- Business News, Insights and StoriesPurbalee Dutta

Expansion of Retail and Delivery Network

Licious’ omnichannel approach connects its online platform with a growing offline retail presence. The company has over 50 branded outlets, including stores from the My Chicken and More brand it acquired in FY25. It plans to expand to 80–100 outlets by FY26-end.

Its 30-minute delivery service, called Licious Flash, now reaches 60% of online customers. This has increased repeat orders and average revenue per user (ARPU) by 30% compared to online-only buyers. To improve last-mile delivery, Licious added 50 new delivery hubs in FY25.

Market Outlook and IPO Plans

India’s meat market was worth $55.3 billion in 2024 and is projected to reach $114.4 billion by 2033. The growth is driven by rising demand for clean, hygienic meat and seafood.

Licious was last valued at $1.5 billion in 2023. The company’s key investors include Temasek, Vertex Ventures, and Bertelsmann Investments. It has raised over $450 million so far.

With strong recovery and expanding reach, Licious is reportedly preparing for an IPO by 2026.

Licious Plans $2 Billion India IPO with Temasek’s Backing

Licious, backed by Temasek, is preparing for a $2 billion IPO in India, marking a major milestone for the premium meat and seafood brand.

StartupTalky- Business News, Insights and StoriesNitin Konde