- Everest Fleet, a fleet management startup in India, experienced exponential growth in revenue, skyrocketing nearly 13 times from Rs 36 crore in FY21 to Rs 466 crore in FY23.
- Profits also surged significantly, multiplying from Rs 11.68 crore in FY22 to Rs 41.23 crore in FY23, showcasing substantial financial growth over the past two fiscal years.
- The company reported a substantial increase in total expenses, rising 4.2 times from Rs 98.3 crore in FY22 to Rs 414.4 crore in FY23, notably due to a substantial spike in employee benefit expenses.
- Everest Fleet efficiently managed cash inflows from operations, showing a significant increase by 245% to Rs 84.5 crore during the last fiscal year, indicating effective financial management amidst growth.
- Everest Fleet has raised around $33 million & is valued around $120 million.