Koovers, a Bengaluru-based B2B marketplace specializing in automotive spare parts, experienced notable growth in the fiscal year ending March 2025. The company’s operating revenue surged by 2.5 times to Rs 198 crore, attributed to its expanded dealer network and operational scale-up. However, despite this revenue increase, Koovers faced challenges as its losses more than doubled during the same period, reaching Rs 36 crore.
Founded in 2015, Koovers operates as an app-based platform offering a wide range of car spare parts and accessories. The company’s acquisition by Schaeffler India in 2023 marked a significant milestone in its journey.
The surge in costs, particularly the 2.5x increase in material expenses to Rs 186.5 crore, posed a significant financial strain on Koovers. Employee benefit costs also doubled to Rs 22 crore. Overall expenses surged by 145% to Rs 235 crore, outpacing the revenue growth.
Despite these financial challenges, Koovers managed to improve its operational efficiency slightly, with the cost to earn a rupee of revenue decreasing to Rs 1.19 in FY25. The company’s current assets stood at Rs 51 crore, with cash and bank balances of Rs 50 lakh at the end of the fiscal year.
Competing with firms like TyrePlex, Boodmo, and Partnr, Koovers faces a competitive landscape in the automotive spare parts market. The acquisition by Schaeffler India, driven by a strong dealer network and sourcing relationships, could potentially reshape Koovers’ strategic focus and operational direction going forward.
Source: Entrackr : Latest Posts