Koovers, a B2B marketplace for automotive spare parts, reported strong growth in the fiscal year ending March 2025, with operating revenue increasing over 2X due to expansion across its dealer network. The company, acquired by Schaeffler India, continued to scale its operations, but losses more than doubled during the year due to higher costs. Koovers’ operating revenue grew 2.5X to Rs 198 crore in FY25 from Rs 79 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC).

Cost of materials remained the largest cost center for the spare parts company, accounting for 79% of the total cost. To the tune of scale, this cost surged 2.5X to Rs 186.5 crore in FY25 from Rs 75 crore in FY24. Employee benefit expenses doubled to Rs 22 crore during the year. Among other overheads, transportation costs rose to Rs 8 crore, while marketing expenses stood at Rs 5 crore in FY25. Finance cost increased sharply to Rs 6 crore. Overall, the firm’s expenses surged 145% to Rs 235 crore in FY25 from Rs 96 crore in FY24. With expenses outpacing revenue, the company’s losses more than doubled to Rs 36 crore in FY25 from Rs 17 crore in FY24. Its ROCE and EBITDA margin improved to -13.13% and -56.88% respectively.

On a unit basis, Koovers spent Rs 1.19 to earn a rupee of operating revenue in FY25, improving from Rs 1.22 in FY24. Koovers’ current assets stood at Rs 51 crore, while the company held cash and bank balances of Rs 50 lakh at the end of the fiscal year.

About Koovers

Koovers is a Bengaluru-based firm that has been founded in 2015 by Rajesh Krishna, Sandeep Begur, Kantharaj Urs, Vinayak YB and S Prem Kumar. It operates as an app-based platform offering car spare parts and accessories. Sale of these products was the sole source of income for the company.