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boAt Announces Rs 61 Crore Profit Just Before Its Big IPO Move

Audio brand boAt, led by Aman Gupta, is making waves ahead of its highly anticipated initial public offering (IPO). The Mumbai-based company reported a net profit of Rs 61 crore for FY25, signaling resilience even as it prepares to raise around Rs 2,000 crore through the IPO after receiving the green light from SEBI.

The results come at a critical juncture for boAt, one of India’s most recognized consumer electronics brands, as it seeks to expand its footprint and attract investors amid stiff competition.

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Revenue Shows Slight Dip but Core Business Holds Strong

Despite the positive profit report, boAt’s total revenue saw a slight decline, slipping from Rs 3,117.7 crore in FY24 to Rs 3,073.3 crore in FY25. Including other income, total revenue came in at Rs 3,097.8 crore, marginally lower than the previous year’s Rs 3,135.4 crore.

Most of boAt’s income came from product sales, which accounted for Rs 3,070.4 crore, with earbuds, speakers, and wireless headphones driving demand. Other operating income contributed a modest Rs 2.9 crore.

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India Remains the Core Market; International Growth Gains Traction

boAt’s strength remains in the domestic market, with India generating Rs 3,050.5 crore in revenue—making up the vast majority of sales. However, its international business is on the rise, with 44% year-on-year growth, reaching Rs 20 crore. This signals early momentum as the brand looks to expand beyond its home turf.

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Audio Products Shine While Wearables Continue to Struggle

Audio products continue to be the backbone of boAt’s business, contributing Rs 2,586 crore, which is a 5% increase from the previous year. This growth reflects sustained demand for affordable, stylish audio gadgets among Indian consumers.

On the other hand, the company’s wearables segment remains a concern, with revenues falling 40% to Rs 330.4 crore. This marks the second consecutive annual decline, suggesting challenges in competing within the smartwatch and fitness band categories.

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What This Means Ahead of the IPO

With the IPO on the horizon, boAt’s performance paints a mixed but promising picture. Here’s what investors should watch for:

• Strong brand recall in India: The dominance of audio products shows that boAt’s core market remains intact, providing a stable revenue base.
• International growth potential: Even though global sales are modest, a 44% increase hints at expansion opportunities in untapped markets.
• Segment diversification challenges: Wearables remain an underperforming segment, posing a risk if the company fails to innovate or market effectively.
• Profitability gives confidence: The reported Rs 61 crore net profit is a positive sign, reassuring investors that the company is managing its cost structure amid market fluctuations.

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What’s Next for boAt?

As the IPO draws closer, boAt will likely focus on strengthening its product portfolio and improving margins. Continued investment in research and development, marketing, and partnerships could help the brand enhance its offerings, especially in wearables where it lags.

Additionally, expanding into international markets and optimizing its supply chain will be critical to sustaining growth and competing with global players.

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A Brand on the Rise but With Hurdles to Cross

boAt’s Rs 61 crore profit amid slight revenue dips showcases its resilience and potential. Its earbuds and audio gadgets remain consumer favorites, while international expansion offers new avenues for growth. However, the wearables segment poses challenges that require strategic focus and innovation.

For investors, the upcoming IPO could be an exciting opportunity—but it comes with risks that warrant close attention. With a strong presence in India and promising growth abroad, boAt’s next steps will determine whether it can scale further or stumble in a fiercely competitive landscape.

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