The direct-to-consumer food brand reported solid growth and financial gains for FY25. Revenue hit ₹795 crore, up 16% from last year. EBITDA losses decreased by 45%, showing big progress for the company.After a slump in FY24 due to operational adjustments, these results show Licious’s recovery in India’s competitive D2C market. EBITDA losses fell to ₹163 crore from ₹296 crore in FY24 because of better contribution margins, cost management, and a better omnichannel strategy. This shows that the Indian D2C market is maturing, focusing on sustainable growth and efficiency over rapid expansion.
Licious has gained a loyal customer base of 1.2 million monthly users in 20 cities via its online presence and growing offline reach. Online channels bring in over 85% of revenue, and the brand leads in the D2C food sector, selling quality meat and seafood. Its offline growth, with over 50 stores (including My Chicken and More, acquired in February FY25), shows its move toward omnichannel retail. The company plans to expand to 80–100 stores by FY26, further expanding its reach in India.Licious Flash, its quick commerce option, is popular, serving 60% of online customers and meeting the need for speed and ease.Backed by investors like Temasek, Mayfield India, Vertex Ventures, and 3one4 Capital, Licious has raised over $450 million, making it a top-funded D2C brand in India. Mayfield India owns a 14.69% stake, showing VC support in the company’s development. Licious looks like a possible candidate for a D2C IPO in the future.In the first half of FY26, Licious grew, with revenue up 42% to ₹530 crore, which indicates rising customer adoption and brand loyalty.
Competing with companies like FreshToHome, Zappfresh, BBDaily, MeatRoot, and EasyMeat, Licious stands out with its focus on freshness, quality, and innovation.Licious’ FY25 results are a milestone in the Indian D2C market. Its focus on omnichannel growth, efficiency, and digital efforts shows the changing D2C landscape, where profits and innovation are key. With revenue growth, a solid market approach, and investor confidence, Licious is setting a new standard for D2C startups in India.
