Reshamandi, a natural fibre supply chain company, registered a 3X increase in revenue so far in FY 2022-23 at Rs 1248.3 crores, the company announced in a media release. Even as the startup aimed at closing FY23 at 5X revenue growth from the previous year, it reached EBITDA profitability in Q3 of FY 2022-23 and is now planning to become net profit positive in the next two quarters. “The Company has reached EBITDA profitability since the previous quarter and we expect to become net profit positive within the next six months,” said Mayank Tiwari, Founder and CEO, Reshamandi.
Reshamandi is also planning to expand internationally in the US and Europe. In terms of product portfolio, it plans to broaden its focus in natural fabrics to include wool, jute and blends while experimenting with categories like sisal and banana. Its present offering ranges from silk, cotton, viscose and linen in both national and international markets.
Reshamandi’s revenue increased by 1,909 per cent between FY2021 and FY2022 to Rs 413.8 crores, and by 302 per cent so far in the three quarters of FY 2022-23 to Rs 1248.3 crores, it said. “ReshaMandi anticipates that 55 per cent of future revenues (based on the revenue projections for the next 5 years) will come from weaves, while 25 per cent will be from farms, and 20 per cent from yarns,” said Mayank Tiwari. ReshaMandi works with 100,000+ farmers, 10,000+ reelers, 17,500+ weavers, and 18500+ retailers in the entire natural fibre supply chain. Earlier, ReshaMandi announced its entry in the Southeast Asian and MENA region. The startup has supplied more than 15 million metres of natural fabric to more than 500 different entities including exporters, manufacturers of traditional Indian fabrics, apparel, and home furnishings, it confirmed.
