Allen is an edtech company that provides an online learning platform and offline coaching institutes with learning courses for JEE, and NEET preparation courses. The company offering educational courses announced a 42.3 percent increase in its operational revenue to Rs 3,244.7 crore in FY24. The startup provides coaching classes for competition courses to students. These coaching services are the company’s primary source of revenue.
The firm also earns income through non-operating services and product sales. The interest income contributed 99 percent to the overall income and stood at Rs 3,215 crore for this FY24. The company’s revenue was largely generated from service income while Rs 8 crore was made via product sales which increased the total revenue to Rs 3,473.2 crore in this financial year. The startup uses artificial intelligence and advanced technologies to provide students with a seamless learning experience.
The Kota-based startup has secured around 601.4 million USD across two funding rounds since its inception, including $600 million raised during its series D funding round from Bodhi Tree Systems. The company received 1.04 million USD as prize money from the European Union in 2019. Allen Career Institute has around three institutional investors including Brand Capital, European Union, and Bodhi Tree Systems. The company plans to acquire edtech startup Unacademy and develop an innovative edtech platform that can provide the best end-to-end learning experience.
The coaching company provides educational courses for academic subjects, test preparation, and competitive exams. The firm provides users with various video courses on subjects including Mathematics, Physics, Chemistry, and Biology. The cost of materials increased by 74.2 percent to Rs 123.5 crore in FY24. The marketing expenses also saw a 2.3 times increase and stood at Rs 117.9 crore in the same duration.
The startup offers its services across India and plans to expand its brand presence globally. The company’s total expenditure increased by 63.2 percent and crossed Rs 3,252 crore for this financial year. The firm managed to control its expenses and noticed a 44.2 percent decrease in its loss to Rs 135.92 crore in this financial year.
Meanwhile, employee Benefits increased by 68 percent and stood at Rs 1,958 crore in the same period. The EBITDA margin stood at 18.14 percent while ROCE was around 9.26 percent in FY24. Allen faces competition from other coaching institutes like Career Launcher, MT Educare, and Resonance Eduventures.
Conclusion :
Allen Career Institute announced a 42 percent increase in its operational revenue to Rs 3,244.7 crore in FY24. The firm provides offline coaching for competitive exams and engineering entrance exam preparations. These courses through offline learning centers and interest income are the firm’s primary sources of revenue.
The firm’s total expenses increased by 63.2 percent to Rs 3,252.2 crore in this financial year. The employee benefits were the largest expense for this fiscal year. This cost grew by 68 percent to Rs 3252 crore in FY24. The loss decreased by 44.2 percent and stood at Rs 135.92 crore in the same duration.
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