5 big numbers from OYO’s renewed IPO filing; Rs 2140 cr loss in FY22, check other details

5 big numbers from OYO’s renewed IPO filing; Rs 2140 cr loss in FY22, check other details

OYO, a hospitality and travel-tech firm, filed fresh IPO documents with the capital market regulator SEBI on Monday. According to the latest filing, hotel aggregator OYO has posted a loss of Rs 2,140 crore in FY22, as compared to Rs 4,103 crore in FY21. During April-June quarter of the fiscal, the company has registered a loss of Rs 414 crore, according to the latest addendum filed by the company with the Securities and Exchange Board of India. The IPO-bound company is now targeting public issue in early 2023 (likely in January) in case of favourable market conditions, according to a Bloomberg report. 

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OYO had filed a draft red herring prospectus (DRHP) with SEBI last year in October to raise Rs 8,430 crore, but had later scrapped the plan.The company posted an adjusted EBITDA of Rs 7.27 crore in the April-June quarter of the current financial year, improving from adjusted EBITDA loss of Rs 471.72 crore in FY22. Its adjusted EBITDA loss stood at Rs 1,744 crore in FY21 compared to Rs 8,277 crore in FY20.

OYO’s revenue

OYO’s revenue from contracts with customers for the three-month period ended June 30, 2022 stood at Rs 1,459.3 crore. Its revenue from contracts with customers declined by 70 per cent from Rs 13,168.15 crore in fiscal 2020 to Rs 3,961.65 crore in FY21. It increased by 20.7 per cent to Rs 4.781.4 crore in FY 22. It stood at Rs 6,329.74 crore in FY19. The company had registered a loss of Rs 10,419 crore in FY20.

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OYO’s storefronts

OYO’s number of storefronts stood at 1.68 lakh as on March 31, 2022 and 168,012 as on June 30, 2022. “The growth in our homes business was primarily driven by organic growth in the number of storefronts,” the company said in a filing. It also added that the decrease in the number of storefronts for their hotels business was largely due to measures that the company took to improve its gross bookings value (GBV) per storefront per month, including temporarily pausing operations for storefronts that were operating at subpar GBV per storefront per month levels and delivering an unsatisfactory customer experience.

OYO’s gross bookings value improves

OYO’s GBV per storefront per month for the three month period ended June 30, 2022 stood at Rs 3.25 lakh in Q1 of FY23, aided by the resumption in travel. It was at Rs 2.21 lakh in FY22. Company’s adjusted gross profit for the three month period ended June 30, 2022 was at Rs 602.19 crore and the adjusted gross profit margin was 41.3 per cent for the three month period ended June 30, 2022.

OYO’s expenses

In FY20, OYO’s total expenses stood at Rs Rs 22800 crore, and Rs 6,937 crore in FY21, Rs 6,984 crore in FY22, and Rs 1910 crore in the three month period ended June 30, 2022.