India’s business sphere has been continuously witnessing and unlocking the ways of innovation and entrepreneurship, and giving rise to unicorns that stand as the illuminating light of success. These unicorns are not only making new innovations but are the epitome of thriving businesses. There are many unicorns listed in India in 2023, but which of these are the most profitable ones? Let’s unfold the layers of the unicorns club and see which of these are the most profitable unicorns in India.
These companies are valued over a mark of one billion, that clearly represents a step forward in economic growth and company’s success.
Journey of being a unicorn company constitutes strategic planning, funding rounds, new advancement in technology and innovation, visionaries idea, and more. From e-commerce, EdTech to fintech, each of these unicorns have written its own narrative in dealing with the complex steps of the Indian market.
Let’s start with the discussion of topic “7 unicorns with highest valuation in India!
|COMPANY NAME||LATEST PROFIT MADE||INDUSTRY SERVES|
|Zerodha||Rs.2.900 crore (FY23)||Finance, Stock Exchange|
|Zoho||Rs.2,749 crore (FY22)||Technology information & |
|Of Business||Rs.463 crore (FY23)||Financing services & Fintech platform|
|Infra.Market||Rs.300 crore (FY23)||Retail, Real Estate, & |
Construction Tech Solutions
|Bill desk||Rs.149.6 crore (FY22)||Finance|
|Dream 11||Rs.141.9 crore (FY22)||Online Gaming & Software|
|Physics Wallah||Rs.97.8 crore (FY22)||Education, EdTech platform|
Indeed a profitable unicorn in 2023, that tops the list. It is an Indian financial technology (fintech) company in India that operates as a stock exchange and brokerage firm.
It is known for offering an online trading platform that allows users to trade in stocks, commodities, currencies, retail, and equity investments. Founded in 2010 by Nikhil and Nithin Kamath.
- Recently, as of latest 2023, Zerodha reported a profit of Rs.2,900 crore, one of the highest profits made by any company in recent times.
- The company also saw a 10% increase in their revenue in FY23 resulting in Rs.5,459 crore as compared to FY22.
- Zerodha comes with a user-friendly and technologically advanced online trading platform called “Kite”. It allows you to execute orders, look into market data, investments and stock parameters, and investment types.
Note: Do you know there are valuation cuts that are imposed on Indian unicorns. To gain more insights about it, visit our article Valuation cuts on Indian Unicorns.
The name that tops the second place of the profitable unicorns in India in 2023 is ZOHO. It is an Indian multinational company that offers computer software and web-based solutions for businesses. Founded by Sridhar Vembu and Tony Thomas, headquartered in Chennai, India. The company has a global presence too with offices in various countries.
- Zoho offers a comprehensive line of applications, including CRM, accounting, Zoho office suite, project management, etc.
- Zoho recently recorded a profit of Rs.2,749 crore, one of the highest profits made by any company in recent times.
- In recent years, Zoho has worked with more than 50,000 organizations in over 160 countries. Last year in 2022, Zoho reported that it had more than 80 million users.
- With time Zoho has successfully established itself into the software providing solutions industry of India.
- Zoho is recognized for offering cost-effective solutions that can be accessible to small and medium sized enterprises i.e. SMEs and more, and allowing businesses to manage various aspects from a single platform.
Originally known as OFB Tech Pvt. Ltd. OfBusiness is a tech enabled platform that allows the procurement of raw materials for manufacturing and even provides credits and solutions for SMEs. OfBusiness acts as a technology-driven marketplace that connects financial institutions and suppliers with SMEs.
- OfBusiness recorded a profit of Rs.463 crore in 2023.
- OfBusiness provides a platform that helps SMEs to integrate technology into their buying behavior and make better choices for products available for better prices with a good team support.
- The raw materials include petrochemicals, polymers, building materials, etc.
- OfBusiness also provides its financial services called “Oxyzo” to SMEs for accessing cash flow based financing for purchasing raw materials.
Regarded as a one stop solution for all the construction materials requirements. It is a technology driven platform that focuses on the construction and infrastructure sector. Founded in 2016, by Aaditya Sharda and Souvik Sengupta. It connects buyers and sellers in the construction materials and tech solutions.
- The company registered a profit of Rs.300 crore in 2023, and observed a good increase in their profits as compared to last year’s profit of Rs.186 crore.
- The company aims to help construction companies and real estate companies to have a good and seamless supply of materials.
- Infra.Market leverages technology for supply chain management, quality control of products, data analytics, etc.
- It offers a diverse line-up of construction materials, like steel, electricals, plumbing, cement, etc.
Another talk of the unicorn list of 2023. BillDesk is India’s one of the largest online payment service companies, that caters to large merchants across e-commerce platforms, B2C space, and businesses.
- BillDesk reported a profit of Rs.149.6 crore in 2022, however the profit of 2023 remains undisclosed. Its revenue also increased upto Rs,2,442 crore.
- It provides a range of payment solutions, including bill payments, electronic fund transfer, payments options, and payment gateway services.
- The company focuses on recurring payments and provides different payment options.
- The company platform is incorporated with more than top 60 banks (that includes 95% of online payments) and also has more than 5,000 merchants in India.
- BillDesk enables electronic bill visibility, allowing users to view and pay bills online. This service is specially used for credit card payments, utility bills payment, and other payments.
(F) Dream 11
A fantasy online gaming platform, founded in 2008 by Harsh Jain & Bhavit Sheth. The platform allows users to create fantasy teams based on real players for games like cricket, football, basketball, kabaddi, etc.
As of latest October 2023, Dream 11 has reached a milestone of 200 million users. Dream 11, became the first Indian fantasy gaming company to achieve a unicorn milestone in 2019.
- Currently, with a profit of Rs.141.9 crore in 2022, the company entered into the list of unicorn companies of India.
- Dream 11, caters its diverse base of audience by offering a platform that allows them to play various games, and win rewards and prizes.
- This diversity of games attracts sports enthusiasts from all over different domains, and leads to popularity of the platform.
- The platform also makes collaborations with celebrity or sports personalities that lead to its more popularity and success.
- Also, the platform serves the sponsors of various sports, and has been quite active in that.
- Dream 11 continues to innovate in the fantasy sports space, by introducing new features, additions, formats, etc.
(G) Physics Wallah
A prominent and dominant player emerged in the EdTech sector. An online Indian education platform founded by Alakh Pandey. It gained popularity with time for providing online education resources, especially in the field of physics. It offers video lectures, study materials primarily in subjects like physics and mathematics.
- Physics Wallah, recently recorded a profit of Rs.97.8 crore in 2022, however the profit of 2023 is still not declared.
- It emerged as a key player and has been continuously evolving as one of the leading players in the edtech space, while the other edtech platforms experience losses.
- With its significant presence on YouTube, it has shared their lectures and videos to a wider base.
- The online availability of lectures and study materials allow students to access it at their own pace and time.
Summing Up: The Discussion
The exploration of the most profitable unicorns in India provided fascinating insights into the ever-evolving and dynamic landscape of India’s business sphere. The unicorns listed above, each has made significant and remarkable profits and stands as the success images of innovation, strength and transformation.
These profitable unicorns of 2023 are considered to be the best among others and are at top among the rest.