Licious reports 16% revenue growth at ₹795 cr in FY25; losses narrow 45%

Online meat and seafood retailer Licious returned to double-digit growth in FY25, with revenue rising 16 per cent year-on-year (Y-o-Y) to ₹795 crore, compared to ₹685 crore in the previous fiscal year.

 

Licious has also tightened its cost structure, significantly reducing losses. Its Ebitda loss fell 45 per cent to ₹163 crore in FY25, from ₹296 crore in FY24, according to the company statement.

 

Continuing this momentum in the current fiscal, Licious reported a 42 per cent Y-o-Y revenue growth to ₹530 crore in the first half of FY26, up from ₹374 crore in the corresponding period last year. The company now serves 1.2 million monthly customers across 20 cities, with online sales contributing more than 85 per cent of total revenue.

 

 

Licious’ growth reflects the early impact of its omnichannel strategy, which integrates its online delivery network with an expanding retail presence. The company has crossed 50 branded outlets, including stores under the My Chicken and More brand acquired in February FY25. It plans to increase the count to 80 outlets by the end of FY26.

 

To enhance last-mile efficiency, Licious is investing in delivery density. Its 30-minute delivery service, Licious Flash, now covers about 60 per cent of online customers, boosting order frequency and repeat purchases. The company said omnichannel users spend more than digital-only buyers, with repeat orders generating 30 per cent higher average revenue per user (Arpu). Licious also added 50 new delivery hubs to strengthen its logistics network.

 

India’s meat market was valued at $55.3 billion in 2024 and is projected to reach $114.4 billion by 2033, driven by rising protein intake, lifestyle shifts, and growing demand for hygienic sourcing.

 

Licious was last valued at $1.5 billion in a 2023 funding round. Its investors include Temasek, Vertex Ventures, and Bertelsmann Investments. The company is reportedly eyeing an initial public offering (IPO) by 2026.