Licious is India’s biggest meat and seafood delivery brand which is also a Unicorn now suffers losing of INR 855 cr due to advertising and employee expenses.

The company founded in the year 2015 by Abhay Hanjura and Vivek Gupta. Headquarter is located in Bangalore owns back-end supply chain and cold storage.

Licious has seen 64% growth in operating revenue which is INR 682 cr in FY22 against 412 cr in FY21 according to its annual financial statements with the Registrar of Companies (RoC). The company also collected INR 16.9 cr as delivery charges which surged 42% in FY22. also booked INR 23.5 crore in non-operating income includes interest on bank deposits and current investments. So the total revenue grows to INR 706 cr during FY22.

But losses 855 cr, sources say that reason behind the loss is immense spending on advertisement and employee expenses.

The expenditure on on employee benefits surged 76% that is INR 209.5 cr in FY22. Advertising/promotional and transportation costs have multiplied by 2.6 and 2.3 times respectively. That is INR 170 cr and INR 65.2 cr. The company also has spent INR 24.42 cr for Information Technology related things during the same period.

So overall Licious total expenses have grown 85.5% that is INR 1,191 cr in FY22 and loss is multiples 2.3 times which is INR 855 cr.

The brand has extended its partnership with  NTR Jr. popularly known as “Man of the Masses”. This high-voltage partnership between Licious and NTR Jr. will further increase the brand’s reach and bring alive the philosophy of the brand.