Licious' FY26 revenues grow 47% to Rs 1,166 crore
Meat and seafood retailer Licious reported a 47% rise in revenues, at Rs 1,166 crore, for the financial year ended March 31, 2026, up from Rs 795 crore a year earlier.
It is now aiming for Rs 1,800 crore in revenues in FY27, as it plans to focus on expanding its presence in urban markets and increasing repeat purchases, the company said in a statement.
Repeat purchases made up 94% of Licious’s business, with the platform having over 1.5 million monthly active users.
The company attributed its growth to strengthening its presence and improving delivery speed across key micro-markets in Bengaluru, Mumbai, and Delhi NCR. The company said it plans to expand to 10 micro-markets across these cities in FY27.
However, the company’s Ebitda losses rose to Rs 187 crore in FY26 from Rs 168 crore in FY25, due to increased spending on infrastructure and offline expansion.
Its online segment, which accounts for the bulk of its revenues, grew 28% to Rs 1,000 crore in FY26 from Rs 770 crore a year earlier.
“The gains have come from improving delivery infrastructure and deepening presence in existing markets, rather than aggressive city expansion,” it said.
Licious said it now operates over 60 retail outlets, up from 50 last October. It is going to expand its network of dark stores from 130 to around 400 over the next five years, with about 70 new stores planned in FY27.
ET had earlier reported that Licious’ revenues for April-December 2025 had shot up 47% on-year to Rs 839 crore, while operating losses remained relatively flat at Rs 100-110 crore.
The meat and seafood market, per industry sources, is worth about $55 billion, 90% of which is sold through fragmented neighbourhood butchers with limited cold-chain infrastructure.
It is now aiming for Rs 1,800 crore in revenues in FY27, as it plans to focus on expanding its presence in urban markets and increasing repeat purchases, the company said in a statement.
Repeat purchases made up 94% of Licious’s business, with the platform having over 1.5 million monthly active users.
The company attributed its growth to strengthening its presence and improving delivery speed across key micro-markets in Bengaluru, Mumbai, and Delhi NCR. The company said it plans to expand to 10 micro-markets across these cities in FY27.
However, the company’s Ebitda losses rose to Rs 187 crore in FY26 from Rs 168 crore in FY25, due to increased spending on infrastructure and offline expansion.
Its online segment, which accounts for the bulk of its revenues, grew 28% to Rs 1,000 crore in FY26 from Rs 770 crore a year earlier.
“The gains have come from improving delivery infrastructure and deepening presence in existing markets, rather than aggressive city expansion,” it said.
Licious said it now operates over 60 retail outlets, up from 50 last October. It is going to expand its network of dark stores from 130 to around 400 over the next five years, with about 70 new stores planned in FY27.
ET had earlier reported that Licious’ revenues for April-December 2025 had shot up 47% on-year to Rs 839 crore, while operating losses remained relatively flat at Rs 100-110 crore.
The meat and seafood market, per industry sources, is worth about $55 billion, 90% of which is sold through fragmented neighbourhood butchers with limited cold-chain infrastructure.
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