Hyderabad-based dairy brand Sid’s Farm reported strong topline growth in FY25, but rising operating costs pushed the company deeper into losses during the year.
Sid’s Farm’s operating revenue grew 38% year-on-year to ₹168 crore in the fiscal year ended March 2025, up from ₹122 crore in FY24, according to financial statements sourced from the Registrar of Companies (RoC). Including other income of ₹2 crore, the company’s total income stood at ₹170 crore in FY25.
Founded in 2016, Sid’s Farm operates as a mass-premium dairy brand and follows a fully integrated model, sourcing milk directly from farmers and controlling the entire value chain of milk and dairy products.
However, the revenue growth was outpaced by a sharper rise in expenses. Total expenditure jumped 47% to ₹196 crore in FY25 from ₹133.5 crore a year earlier.
The cost of material consumed remained the largest expense, accounting for over 64% of total costs. This head rose 41% to ₹126 crore during the year. Employee benefit expenses increased 47% to ₹25 crore, while advertisement and marketing costs nearly doubled to ₹7 crore from ₹3.6 crore in FY24.
Distribution and transportation expenses climbed to ₹8 crore and ₹5 crore, respectively, while other operating expenses added another ₹25 crore to the cost base.
The steep rise in expenses led Sid’s Farm’s net loss to widen 2.6x to ₹27 crore in FY25, compared with a loss of ₹10.5 crore in the previous fiscal. The company reported a negative ROCE of 45.24% and an EBITDA margin of -14.58%.
On a unit economics basis, Sid’s Farm spent ₹1.17 to earn every rupee of operating revenue in FY25, higher than ₹1.09 in FY24.
As of March 2025, the company’s cash and bank balances stood at ₹1 crore, while current assets increased to ₹45 crore.
Sid’s Farm has raised approximately $12.2 million in funding to date, including a $10 million round co-led by Omnivore and the Narotam Sekhsaria Family Office.
Follow Startupbydoc for daily startup insights, funding news, IPO analysis, and business breakdowns.