Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Softbank-backed <keyword id="2466939" type="PERSON" weightage="20" keywordseo="Grofers">Grofers</keyword> has advanced its plan to launch an initial public offer by the end of next year after its profitability path zoomed during the lockdown period, a top official of the company said. Grofers co-founder and CEO <keyword id="2744778" type="PERSON" weightage="20" keywordseo="Albinder-Dhindsa">Albinder Dhindsa</keyword> told that the company started making operational profit in January and expects to become cash positive by the end of this year. "Our path to profitability has accelerated during the lockdown, and after achieving operational profitability in January, we are on track to become EBITDA and cash positive by the end of this year. We are observing market sentiments and aim to hit the capital market by the end of 2021," Dhindsa said. Earlier the company had plans to go public in 2022. The company closed the financial year with a revenue of around Rs 2,500 crore and the valuation of Grofers is estimated to be close to Rs 6,000 crore. "As an organisation, we have always channelled our efforts towards providing value to our customers. And, we will continue to do so by staying true to our brand promise of low prices through our focus on building an efficient supply chain and technology-driven innovations," Dhindsa said. According to the data shared by the company, Grofers shipped 4.4 crore items last month, with 99.7 per cent accuracy and since the lockdown began. It claims to have served 42 lakh households by the end of May. "Our platform continues to witness high demand and we expect this to stabilize at 30 per cent higher than pre-COVID levels. There has also been a 40 per cent increase in basket size as compared to the pre-COVID era. We are seeing 64 per cent first-time online grocery shoppers and 15 per cent first time online shoppers," Dhindsa said. During the lockdown, Grofers opened three new facilities and two more are in the pipeline at Bhiwadi and Lucknow. "We are looking to add 10-15 facilities before the end of this year. We are helping our manufacturing partners with logistics, working capital, and distribution so that we can maintain constant supplies of goods for our customers. We started reverse picks on our own trucks and procured goods from the warehouses of our FMCG partners," Dhindsa said. Currently, Grofers has 10,000 partner stores to run a fast and lean supply chain from manufacturers straight to consumers. "Over the last two months, we have hired over 3,000 people for our supply chain operations, and plan to hire another 2,000 warehouses and delivery staff in the coming months," Dhindsa said. He said that the company has identified and hired delivery and warehouse personnel from the companies operating in industries deeply impacted by the current crisis such as textiles and car rentals. By Prasoon Srivastava for PTI

Softbank-backed Grofers aims to go for an IPO by 2021, CEO says path to profitability accelerated during lockdown

Following the success of hosting <keyword id="6354427" type="General" weightage="50" keywordseo="apple" source="Orion">Apple</keyword> <keyword id="6354606" type="General" weightage="80" keywordseo="iphone" source="Orion">iPhone</keyword> 14 and iPhone 14 Pro on the platform last year, Zomato-owned quick grocery delivery platform <keyword id="12724311" type="General" weightage="20" keywordseo="blinkit" source="Orion">Blinkit</keyword> on Friday said that they again partnered with Unicorn, Apple premium reseller to deliver the latest 'Make-in-India' iPhone 15 and iPhone 15 Plus at your doorsteps if you live in Delhi NCR, Mumbai, Pune and Bengaluru. iPhone 15 and iPhone 15 Plus are now officially going on sale in India, including on the Blinkit platform. Blinkit customers will be able to avail no-cost EMI, low-cost EMI and cashback up to Rs 5,000 on eligible HDFC cards. "This unique association is global first and we are certain this will lead to pure joy for our customers who appreciate the convenience of getting highly anticipated products delivered to their doorstep, almost instantly," Albinder Dhindsa, Co-Founder and CEO of Blinkit, said in a statement. Dhindsa also shared the development on X, adding "Super proud of the platform that can put the new iPhone in your hands on launch day in 10 minutes!". Available in 6.1-inch and 6.7-inch display sizes, iPhone 15 and iPhone 15 Plus are available in pink, yellow, green, blue, and black finishes in 128GB, 256GB, and 512GB storage capacities, starting at Rs 79,900 and Rs 89,900, respectively. --IANS shs/prw

Blinkit starts home delivery of 'Make-in-India' iPhone 15, 15 Plus

<ul><li><keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword>’s Q4 consolidated net loss narrowed to about ₹188 crore in the March quarter. </li><li>The company reported consolidated revenue at ₹2,056 crore, a 70% jump from ₹1,212 crore in the year-ago period. </li><li>In FY23, <keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword>'s loss shrunk to ₹971 crore from ₹1,209 crore a year ago as revenue increased around 70% to ₹7,079 crore. </li></ul>Online food delivery platform Zomato on Friday said that its consolidated net loss narrowed to about ₹188 crore in the March quarter. In the same quarter last year, it posted a net loss of ₹360 crore. In the third quarter, its net loss was at ₹345 crore. The company reported consolidated revenue at ₹2,056 crore, a 70% jump from ₹1,212 crore in the year-ago period. In FY23, Zomato's loss shrunk to ₹971 crore as compared to ₹1,209 crore in FY22. Its annual revenues also increased around 70% to ₹7,079 crore in FY23. "In food delivery, over the last five quarters, we have improved our margins meaningfully while further strengthening our market position. We will continue with the same mindset as we look to further expand the adjusted EBITDA margin (from the current 1.2%) to our stated goal of +4-5% of gross order value," said Deepinder Goyal, Zomato Founder and CEO. Meanwhile, Zomato's arch rival Swiggy declared on Thursday that its food delivery business has become profitable, without giving any more details. Zomato now aims to get to positive adjusted EBITDA (and also profit after tax) on a consolidated basis (including quick commerce) within the next four quarters. "On the quick commerce side, while there is still a long way to go in terms of margin improvement, we are pleased with the outcomes so far in a short period of time. In the month of March 2023, more than 65% of the GOV was from contribution positive stores," said Goyal. <cmsannotation type="cmsannotation" annotationid="Blinkit average order value sees a decline" comment="subhead" text="Blinkit average order value sees a decline">Blinkit average order value sees a decline</cmsannotation> Regarding its quick delivery service Blinkit, contribution margins improved despite a seasonal drop in average order value (AOV) to ₹522 in Q4 as compared to ₹553 in the previous quarter. "We have learnt that the AOV in this business will continue to swing up and down in the near to mid-term due to multiple (mainly seasonal) factors. For example, AOVs will go down when there is a good harvest of vegetables (which leads to lower prices for F&amp;V)," said Blinkit founder and CEO Albinder Dhindsa. "Over time, as we get scale, we hope to be able to predict such swings better and mitigate the impact of these swings on our margins. We expect the AOV to increase QoQ in the current quarter (Q1FY24)," Dhindsa added. <cmsannotation type="cmsannotation" annotationid="ONDC not an immediate risk to Zomato and Swiggy" comment="subhead" text="ONDC not an immediate risk to Zomato and Swiggy">ONDC not an immediate risk to Zomato and Swiggy</cmsannotation> Despite the chatter about ONDC (Open Network for Digital Commerce) providing food delivery, analysts believe that it is still<a href="https://www.businessinsider.in/business/corporates/news/ondc-not-an-immediate-risk-for-zomato-and-swiggy-as-lower-prices-are-due-to-discounts/articleshow/100298963.cms"> not an immediate risk</a> to Zomato and its peer Swiggy which dominate the market. “The cost of ordering food on ONDC, at least in some cases, seems to be lower than on Zomato or Swiggy, though this is largely on account of ONDC-funded discounts, which may not sustain,” said the analysts at Kotak Institutional Equities. The brokerage noted that while the impact in near-term is limited, the long-term impact is not known yet. (With inputs from IANS) SEE ALSO: <a href="https://www.businessinsider.in/business/news/cheese-burst-quick-service-restaurants-see-muted-growth-ahead/articleshow/100332394.cms">Cheese burst: Quick service restaurants see muted growth ahead</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-companies-sc-appointed-panel-finds-no-evidence-of-regulatory-breach-by-adani/articleshow/100352920.cms">Hindenburg row: SC appointed panel finds no evidence of regulatory breach by Adani, Sebi wants to search some more</a> <a href="https://www.businessinsider.in/stock-market/news/mankind-pharma-pnb-among-stocks-to-become-largecap-from-midcap-mutibagger-rail-vikas-nigam-to-turn-midcap-from-smallcap/articleshow/100356527.cms">Mankind Pharma, PNB among stocks to become largecap from midcap; mutibagger Rail Vikas Nigam to turn midcap from smallcap</a>

Zomato net loss narrows to ₹188 crore in Q4, revenue rises 70% YoY

New Delhi, Mar 22 () Online grocery platform Grofers said many of its delivery persons were stopped and arrested on Sunday even as e-commerce firms were to be exempted during 'Janta Curfew' announced to combat the spread on coronavirus in the country. The company said these developments had led to a delay in the delivery of almost 20,000 orders countrywide. Albinder Dhindsa, co-founder and the CEO of Grofers, said as per the directive of the central government, the company continued to provide essential goods to customers across the country on the day of Janta Curfew. "State Government and local administration are advised to exempt e-commerce operations (warehousing &amp; logistics facilities and services), wholesaler, their vendors &amp; third party delivery partners who are a part of the supply and logistics chain ecosystem, from any type of prohibitory orders etc," he added. Dhindsa said that "due to some confusion regarding the services exempted", many of its delivery riders were stopped and arrested that led to a delay in the delivery of almost 20,000 orders countrywide. "This does not only affect the morale of the delivery staff who are working selflessly to support people but is also causing inconvenience to many customers who are relying highly on our services," he said. Dhindsa noted that in a few states including Maharashtra, Grofers is also facing forced shut down of warehouses. "Our teams are working relentlessly to support people and managing deliveries to avoid any kind of panic among consumers and we request authorities to take measures to ensure that the process of essential items delivery remains smooth," he added. Dhindsa said the company is abiding by the rules and ensuring the maintenance of proper hygiene and sanitation in its facilities and vehicles. SR MRMR

Grofers says stoppage, arrest of riders during Janta Curfew delay order delivery

New Delhi, Mar 16 () Online grocery platforms Grofers and BigBasket are witnessing up to two-fold growth in purchases as authorities in multiple cities close malls and shopping places to contain the coronavirus pandemic. The e-tailers said they are shoring up supplies amid the sudden increase in demand due to panic buying across a number of cities in the last couple of days. These companies are witnessing very high demand for products in the personal hygiene category as well as immunity boosting items such as honey and ayurvedic products. "In the last couple of days we have seen what we may call panic buying across a number of cities and categories. Cities like Mumbai, Bangalore, Pune and Ahmedabad have seen a higher surge with nearly 80 per cent growth followed by Delhi NCR and Hyderabad at a 60 per cent spike in business for a 75 per cent growth in national business," said Grofers Co-Founder and CEO Albinder Dhindsa. "We have seen a rise in both the number of orders at 45 per cent as well as order value at 18 per cent," he added. Alibaba-backed BigBasket said it has witnessed two-fold growth in traffic and revenue. It has also witnessed an increase of 15-20 per cent in its basket value. Though BigBasket has faced "some disruption" in its supply chain in the last three days, the company said it has taken corrective action and has "geared up for supplies to meet the increased demand". On delivery delays, BigBasket said, "We will face some constraints for a few more days because it takes time to build capacity in terms of storage, delivery fleet and people. Our teams are working hard to streamline this and we will be back on track very soon." Grofers said supply has not been an issue for it so far. "However, we are still bumping up capabilities and hiring more people to ensure availability and access of critical goods. We are also working with more manufacturing partners to scale the supply basis demand, while requesting customers to opt for considerate shopping so that shelves remain stocked for everyone," said Dhindsa. Dhindsa said in the personal hygiene category, Grofers has seen a demand surge of 400 per cent in sanitizers, 120 per cent in hand washes and 70 per cent in soaps followed by floor cleaners. "Immunity boosting items such as honey and ayurvedic products like chyawanprash have seen a growth of 60 per cent. High demand has been observed in disposable categories such as toilet paper and tissues. Lately, we are also observing panic buying and hoarding of essential commodities like atta, sugar, pulses and rice," he said. BigBasket has also witnessed increased demand for essential items such as staples, atta and dal, fruits and vegetables "We are in control because the predominant share is from our private label products. We are not facing shortages in FMCG branded products except in the case of sanitizers. In effect, supply will not be an issue," BigBasket said. Grofers said it has observed hoarding tendencies among some of its users and is blocking them to make sure essential items are available to genuine customers. "Yes, we have observed hoarding behaviour among consumers across states. We are taking a hard approach to hoarding of essential commodities. A lot of people are trying to game the system to acquire items and we are working proactively to block them and make sure essential supplies will be available to genuine customers," said Dhindsa, adding it has also discontinued promotions for essential commodities. Excessive buying or multiple orders to bypass inventory limit can lead to order cancellations on the platform, he added. However, BigBasket said it is "not witnessing hoarding behavior thus far". KRH ABM

Grofers, BigBasket see orders soaring as virus lockdown shuts malls

New Delhi, Mar 27 () Some e-commerce companies on Friday partially resumed operations for the sale of groceries and essential items but deliveries to customers will be delayed, according to company officials. A leading e-commerce firm said players in the segment are coordinating with district-level authorities for curfew and lockdown passes for their personnel to resume deliveries. "E-commerce companies will be able to open one city at a time. All the players are coordinating with district-level authorities for curfew and lockdown permits which is going to take time. Some of the companies don't have enough inventory because of the lockdown which they need to source before delivery," an official of a leading e-commerce company said. E-commerce companies have been exempted from prohibitory orders during the lockdown but police in various places stopped their employees and even punished some of them when they came out for work. Flipkart on Friday said that the government and the local state authorities have provided the much-needed clarification on the functioning of e-commerce during the lockdown, clearly indicating that delivery of grocery and essential goods is permitted under the order. "E-commerce companies such as Flipkart, Amazon, BigBasket, Grofers, Zomato, Swiggy and others have been assured of the safe and smooth passage of their supply chain and delivery executives by local law enforcement authorities. "This assurance has led to several of these companies resuming their services, especially in key categories - Grocery and essentials," the statement said. The company has stopped accepting the return of essential items once sold to check hoarding of the items. While Amazon India continued to accept orders in the permitted category, it has put delivery of the orders on hold. "Considering the prevailing extensive lockdowns and restrictions in movement, we have paused our deliveries. We are taking orders only on essential products through pre-paid payment methods, while we work towards resuming deliveries soon," Amazon India website said. The company on Thursday had said that it is working with the central government and local authorities seeking urgent help with detailed on-ground operating procedures, to ensure delivery of priority goods like household staples, health and hygiene products, sanitizers, baby formula, and medical supplies safely across the country to its customers' homes without any disruption. Social media firm Local Circles in a survey conducted on March 25 and 26 across 177 districts found that 61 per cent people were unable to find essential items they required on e-commerce stores while 43 per cent people were unable to find products they required on retail stores.Grofers co-founder and CEO Albinder Dhindsa said that the company is taking every measure to ensure the delivery of essential items to customers. "After a few hiccups, we have resumed operations in Delhi, Gurgaon, Faridabad, Noida, Ghaziabad, Bengaluru, Ahmedabad, Lucknow and Kanpur with the help of local authorities. For these cities, we will now be ramping up our capacities in the coming days to fulfill the backlog of orders," Dhindsa said. He said that for the remaining cities, the company is working closely with the respective authorities and shall resume operations as soon as we get the necessary permissions. "Our team members are working around the clock to ensure support towards our customers, who are counting on us for essential supplies at their homes. We are maintaining proper hygiene and sanitation in our facilities and vehicles and are committed to serving India in this critical period," Grofers said. Online grocery seller Bigbasket also resumed booking of orders for all which it had limited to only existing customers since last few days. PRS PRS MRMR

E-commerce firms resume partial operations, deliveries to be delayed

New Delhi, Dec 3 () SoftBank-backed Grofers reported widening of its loss to Rs 448 crore in 2018-19 financial year, while its income rose by over 56 per cent from the previous fiscal, according to regulatory documents filed by the company.
 The company had posted a net loss of Rs 258.3 crore for the year ended March 2018, as per documents filed with the Corporate Affairs Ministry and sourced by business intelligence platform Tofler.
 Grofers, which competes with the likes of BigBasket as well as grocery verticals of e-commerce majors such as Flipkart and Amazon, saw its total income grow by over 56 per cent to Rs 83.62 crore in 2018-19 from Rs 53.47 crore in the previous financial year.
 When contacted, Grofers CEO and co-founder Albinder Dhindsa said, "Grofers GMV (gross merchandise value) grew by 300 per cent to reach Rs 2,500 crore in FY 2018-19 and we are on track to double it to Rs 5,000 crore in FY 2019-20". 
 "We are now the largest grocery e-commerce company in India and are preparing to bring the next 100m customers online by penetrating into hitherto untapped socio-economic segments," he added.
Grofers' numbers indicate the revenue it earned through retail margin/commission from brands and sellers. 
 In May, the company had announced a fund raise of over USD 200 million from new investor KTB, and existing investors Tiger Global Management and Sequoia Capital.
 In September, Grofers had said it aims to cross the USD 1 billion revenue mark by the end of the year, helped by strong growth in both its online and offline businesses.
 The company, which started operations as an online grocery platform, earlier this year said it is working with brick-and-mortar stores in Delhi-NCR to convert them into its own branded outlets. 
 The company has been pursuing profitability by consolidating its presence in the cities of operations and is also gearing up to hit the capital market with an initial public offering (IPO) in the next few years. SR RVK

You Searched For "Albinder Dhindsa" and got 7 results

Softbank-backed Grofers aims to go for an IPO by 2021, CEO says path to profitability accelerated during lockdown

PTI

Blinkit starts home delivery of 'Make-in-India' iPhone 15, 15 Plus

IANS

Zomato net loss narrows to ₹188 crore in Q4, revenue rises 70% YoY

Rounak Jain

Grofers says stoppage, arrest of riders during Janta Curfew delay order delivery

PTI

Grofers, BigBasket see orders soaring as virus lockdown shuts malls

PTI

E-commerce firms resume partial operations, deliveries to be delayed

PTI

Grofers loss widens to Rs 448 cr in FY19, co says on track to double GMV to Rs 5k cr in FY20

PTI

Popular Keywords

Buying Guides