Key highlights:
• LatestOne.com is projected to achieve a Net Revenue of 43.23 Cr, Gross Profit of 2.11 Cr
• The burn rate has reduced from 25% to 11% during the year
• LatesOne.com is projected to become the first Indian e-tailer to achieve Gross Profit full financial year basis by March 2017
• LatestOne.com has scaled up from 100 orders per day to almost 5,000 orders in a day

Since sale of Four Soft business in 2013, the proceeds from sale have been returned to shareholders by way of one-time Dividend & Capital Reduction Scheme and the Company has retained 42 Cr. The total amount invested in the subsidiary Palred Online Technologies Pvt Ltd which owns and operates LatestOne.com is 30 Cr. The entire Company’s efforts are focused on making LatestOne.com successful and have a very positive outlook about the future.

LatestOne.com has emerged as No.1 e-tailer for Tech & Mobile Accessories in 2 years since its launch. By combination of superior technology, fulfillment centers and digital marketing skills LatestOne.com has scaled up from 100 orders per day to almost 5,000 orders in a day. LatesOne.com is projected to become the first Indian e-tailer to achieve Gross Profit full financial year basis by March 2017. LatestOne.com is projected to achieve a Net Revenue of 43.23 Cr, Gross Profit of 2.11 Cr with a Net Loss of 7.85 Cr for FY 16-17. The burn rate has come down from 51% in FY 15-16 to 18% in FY 16-17.

The burn rate has reduced from 25% to 11% during the year. The Company believes it is strongly projected for growth on an assumption that the cost components do not vary much from the proportion experienced in the last six months. The Company has also commenced funding exercise to grow to next level.

As comparison similar sized vertical focused e-tailers in India have invested 10 to 20 times the amount invested in LatestOne.com. However the revenue of such comparable companies is 0.5x to 2.0x the revenue of LatestOne.com and the burn rate is of 5 to 20 times the annual losses incurred by LatestOne.com.