​

Preliminary

Projected Years

For the year ended

31-Dec-23

31-Dec-24

31-Dec-25

31-Dec-26

31-Dec-27

31-Dec-28

Revenue from:

​

​

Product Supply and Online Stores

​

9,126,627

15,439,500

51,314,868

187,864,155

348,928,733

645,807,168

​

Managed Listing and Advertising

​

—

—

229,466

1,259,888

2,172,724

3,446,486

​

Physical Showroom Display

​

—

—

146,588

183,236

274,853

329,824

​

Warehousing Fulfillment

​

—

—

356,083

1,084,662

1,931,537

3,476,359

​

Total Revenue

​

9,126,627

15,439,500

52,047,005

190,391,940

353,307,847

653,059,837

​

Revenue Growth%

​

69

%  

232

%  

266

%  

86

%  

85

%  

Cost of Goods Sold

​

​

Product Supply

​

6,671,738

6,948,584

22,987,989

84,326,492

156,581,621

289,784,875

​

Direct Expenses

​

​

Online Stores

​

—

170,440

565,087

2,067,148

3,838,877

7,104,560

​

Managed Listing and Advertising

​

—

—

2,321

11,643

21,766

37,684

​

Physical Showroom Display

​

—

—

1,782,508

2,662,179

4,774,026

5,732,734

​

Warehousing Fulfillment

​

—

—

1,947,130

3,027,903

4,360,236

5,450,507

​

Total Direct Cost

​

—

170,440

4,297,045

7,768,872

12,994,905

18,325,486

​

Gross Profit

​

2,364,888

8,320,477

24,761,972

98,296,576

183,731,321

344,949,476

​

% of Revenue

​

25.91

%  

53.89

%  

47.58

%  

51.63

%  

52.00

%  

52.82

%

Employee Cost

​

979,133

2,911,000

6,776,184

12,910,836

17,615,011

25,726,808

​

Marketing Expenses

​

276,879

169,835

1,301,175

5,711,758

14,132,314

27,755,043

​

Professional and Compliance Expenses

​

—

140,000

144,200

148,526

152,982

157,571

​

General & Administrative Expenses

​

215,842

50,000

51,500

53,045

54,636

56,275

​

Warehouse Expenses

​

—

1,066,800

1,379,376

1,616,812

2,104,592

2,682,313

​

Showroom & Office Expenses

​

—

1,136,800

1,338,176

1,722,902

2,661,883

3,290,087

​

Travelling

​

—

50,000

51,500

53,045

54,636

56,275

​

IT Maintenance Costs

​

—

25,000

25,750

26,523

27,318

28,138

​

Distribution Costs

​

—

38,599

130,118

475,980

883,270

1,632,650

​

Other Operating Expenses

​

461,792

50,000

51,500

53,045

54,636

56,275

​

Total Indirect Expenses

​

1,933,646

5,638,033

11,249,479

22,772,471

37,741,279

61,441,436

​

EBITDA

​

431,243

2,682,443

13,512,493

75,524,105

145,990,043

283,508,040

​

% of Revenue

​

4.73

%  

17.37

%  

25.96

%  

39.67

%  

41.32

%  

43.41

%

Depreciation & Amortization

​

16,075

194,875

249,066

315,431

409,974

460,496

​

EBIT

​

415,168

2,487,568

13,263,426

75,208,674

145,580,069

283,047,544

​

% of Revenue

​

4.55

%  

16.11

%  

25.48

%  

39.50

%  

41.20

%  

43.34

%

Interest Expense

​

309,621

—

—

—

—

—

​

EBT

​

105,547

2,487,568

13,263,426

75,208,674

145,580,069

283,047,544

​

% of Revenue

​

1.16

%  

16.11

%  

25.48

%  

39.50

%  

41.20

%  

43.34

%

Tax Expense

​

—

522,389

2,785,320

15,793,822

30,571,814

59,439,984

​

NPAT

​

105,547

1,965,179

10,478,107

59,414,853

115,008,254

223,607,560

​

% of Revenue

​

1.16

%  

12.73

%  

20.13

%  

31.21

%  

32.55

%  

34.24

%

Statement of Financial Positions at

Preliminary

Projected Years

Particulars

31-Dec-23

31-Dec-24

31-Dec-25

31-Dec-26

31-Dec-27

31-Dec-28

Current Assets

Cash & Cash Equivalents

318,281

3,952,203

13,613,247

75,451,606

192,745,279

422,841,109

Trade & Other Receivables

2,392,872

846,000

2,851,891

10,432,435

19,359,334

35,784,101

Inventories

2,009,300

856,675

2,834,136

10,396,417

19,304,583

35,726,902

Lease Deposit

—

280,000

340,000

400,000

540,000

660,000

Other Assets

4,407,306

3,966,575.65

3,569,918.08

3,212,926.27

2,891,633.65

2,602,470.28

Total Current Assets

9,127,759

9,901,454

23,209,192

99,893,385

234,840,830

497,614,582

Non-Current Assets

Property, Plant & Equipment

230,534

473,625

600,259

821,338

1,097,347

1,297,542

Furniture and fittings

8,377

—

—

—

—

—

Intangible Assets

591,314

204,000

343,400

461,890

562,607

648,216

M&A

—

—

—

—

—

—

Other Non-Current Assets

96,464

91,641.22

87,059.16

82,706.20

78,570.89

74,642.35

Total Non-Current Assets

809,676

769,266

1,030,718

1,365,934

1,738,525

2,020,400

Expenses to the extent not written off

Total Assets

63,35,720

10,670,720

24,239,909

101,259,318

236,579,355

499,634,982

Current Liabilities

Trade & Other Payables

11,60,879

571,116

1,889,424

6,930,945

12,869,722

23,817,935

Income Tax provisions

522,389

2,785,320

15,793,822

30,571,814

59,439,984

Other Liabilities

5,862,857

1,756,325.25

1,650,945.74

1,551,888.99

1,458,775.65

1,371,249.11

Tax Liability

0

—

—

—

—

—

Total Current Liabilities

70,23,736

2,849,831

6,325,689

24,276,655

44,900,312

84,629,168

Non-Current Liabilities

Long term Borrowings

4,250,452

3,825,406.94

3,442,866.24

3,098,579.62

2,788,721.66

2,509,849.49

Other Non-Current Liabilities

47,050

44,697.61

42,462.73

40,339.59

38,322.61

36,406.48

Total Non-Current Liabilities

4,297,502

3,870,105

3,485,329

3,138,919

2,827,044

2,546,256

Total Liabilities

8,068,843

6,719,936

9,811,018

27,415,574

47,727,357

87,175,424

Net Assets / Liabilities

1,958,606

3,950,784

14,428,891

73,843,744

188,851,998

412,459,558

Equity

Net Loss

169,939

1,965,179

10,478,107

59,414,853

115,008,254

223,607,560

Contributed Equity

3,327,614

3,340,018

3,340,018

3,340,018

3,340,018

3,340,018

(Accumulated Deficit) Retained Earning

(1,663,457)

(1,354,413)

610,766

11,088,873

70,503,726

185,511,980

Dividend

(110,000)

—

—

—

—

Equity withdrawal

(13,951)

—

—

—

—

—

Equity Injection

26,355

—

—

—

—

—

Other Reserves

249,105

—

—

—

—

—

Total Equity

1,985,606

3,950,784

14,428,891

73,843,744

188,851,998

412,459,558