Zepto says it's nearing $4 bn annualised GOV, reduced operating cash burn

Quick-commerce company growing meaningfully, says CEO Aadit Palicha

Zepto is nearing annual gross order value (GOV) of $4 billion and has reduced cash burn, said Aadit Palicha, the quick-commerce company's co-founder and chief executive officer, on Wednesday

 

The company, in the past three months, has reduced its ebitda (earnings before interest, taxes, depreciation, and amortisation), excluding ESOPs (employee stock ownership plans), and operating cash flow (OCF) burn by 50 per cent. In January, Zepto said GOV had touched $3 billion.

 

"Zepto is getting close to $4 billion in annualized GOV, which represents nearly 300 per cent year-on-year growth (and close to 30 per cent growth since my last update in January)," said Palicha in a social media post, noting that the company “grew meaningfully during the last three months”.

 

 

“We are confident in being within touching distance of EBITDA (excl. ESOPs) and OCF breakeven within a few months (with a large net cash buffer still on the Balance Sheet)," he said.

 

The company's newly launched dark stores, which are meant solely for online order fulfillment, are on track to achieve break even in ebitda.

 

Palicha said in January: “In April 2024, we shared with Goldman Sachs in a research note that Zepto had crossed $1 billion in annualized GOV. Eight months later, in January 2025, we are now at approximately $3 billion in annualized GOV.”

 

The company's definition of GOV includes the selling price of fruits and vegetables in addition to additional sources of income such as subscription fees and advertisements, Palicha said.

 

GOVs of other quick commerce players are growing fast. In the first nine months of FY25, Blinkit's GOV stood at Rs 18,853 crore, marking a 123 per cent rise year-on-year (Y-o-Y). Swiggy Instamart reported an 88 per cent Y-o-Y rise in GOV to Rs 3,907 crore.