Livspace achieves cash flow positivity with provisional FY24 figures

Home décor, accessories, and lifestyle retailer Livspace has achieved cash flow positivity after its revenue grew by around 30% in the 2024 financial year, which concluded at the end of March.

The business’ provisional figures for its 2024 financial year performance show that it could report around a 30% increase in revenue compared to its total of Rs 1,100 crore in the 2023 financial year, India Retailing reported. Livspace also expects to see its earnings before interest, tax, depreciation, and amortisation figures improve in the 2024 fiscal.
 
“Our revenue has grown 50% CAGR [compounded annual growth rate] in the past two fiscal years,” said Livespace Co’s founder Ramakant Sharma, the Press Trust of India reported. “We have become cash flow positive from October-December quarter of 2023-24 in India business, which is 80-85% of our total revenue.”
 
After turning cash flow positive, the business plans to grow organically by generating sufficient cash flow to expand its operations. With a current retail presence in 50 Indian cities, Livspace plans to expand to between 100 and 150 Indian cities in the coming year and a half.
 
“We have around $100 million cash in our balance sheet,” the business’ chief strategy officer Ankit Shah told the Press Trust of India. “Business expansion, investment in branding and experience centres, and improving the supply chain have helped the company achieve high growth in the last two fiscal years.”