IPO-bound Imagine Marketing Ltd, known for its consumer electronics brand boAt, returned to profitability after two years and posted a net profit of over ₹60 crore in FY25. The company, in a statement, said the turnaround was driven by product innovation and disciplined cost control.
“boAt posted a consolidated net profit of over ₹60 crore and EBITDA of over ₹142 crore in FY25, compared to a net loss of ₹79.7 crore in FY24. This turnaround followed a significant reduction in losses in FY24, where losses had dropped from ₹129.5 crore in FY23 to ₹79.7 crore in FY24,” the company said. It reported a consolidated revenue of ₹3,097.8 crore in FY25.
The company had filed for an Initial Public Offering in April through confidential pre-filing route. It received nod from SEBI for its IPO in late August.
Sameer Mehta, Co-founder and Executive Director of boAt, said: “This milestone of returning to profitability after two years reflects the resilience of our business model and the trust of millions of consumers who continue to choose boAt. Our ability to innovate, scale new categories, and adapt quickly to evolving consumer preferences has kept us ahead in a dynamic market.”
Audio segment
The company said that in FY25, boAt strengthened its leadership in the audio category, maintaining a strong double-digit share in India’s personal audio segment while ranking as the third-largest company globally in branded personal audio. In wearables, a sharper software-led ecosystem approach helped the business move closer to EBITDA neutrality in the final quarter of the year.
Stating that it has focused on strengthening channel mix, the company added that quick commerce has emerged as an important growth driver alongside e-commerce, offline retail, and exports. The company also launched over 100 new products in FY25.
It added that over 70 per cent of the brand’s volumes are now manufactured domestically. It also scaled its localisation initiatives across PCBs, plastics, and other components, strengthening supply chain resilience.
Gaurav Nayyar, CEO, boAt, added: “FY25 marks a pivotal turning point for boAt. Through cost discipline, innovation, and a deep understanding of consumer needs, we have not only returned to profitability but also laid the foundation for long-term sustainable growth. From strengthening our leadership in audio to reimagining wearables and entering new categories, we are building a future-ready, diversified organisation.” The company has also been focusing on expanding international footprint such as GCC markets.