In recent times, boAt has been a major player in the wearable and hearables market in India. The electronics based startup has seen great success with its products and is now gearing up to launch its initial public offering at a valuation of over 1.4 billion US Dollars.

boAt Airdopes 181 TWS earbuds

According to an Entrackr report, the company has also generated revenue that has crossed more than 1,500 crore INR (roughly 203 million US Dollars) in the financial year of 2021. The company’s financial report revealed that its operating revenue surged during this period by around 2.2 times over the same period last year. In the financial year of 2020, the startup brought in just 700.44 crore INR (roughly 95 million US Dollars).

boAt

Out of all of its product lines, the wireless earphones and headphones segment were the largest in terms of sales. This category also accounted for 62.7 percent of all of its operating profits in the financial year of 2021. Furthermore, the sales also grew by around 2.5 times, hitting 947.4 crore INR (roughly 128 million US Dollars) in 2021 over just 375.7 crore INR (roughly 50 million US Dollars) from a year prior. Similarly, boAt wireless speakers saw the highest growth overall, with a rise of 2.6 times in 2021.

boAt Watch Iris

The wireless speaker category was also the second largest contributor to the brand’s revenue in the last financial year, accounting for 20 percent of its overall revenue. For those unaware, the Indian startup design its products within the country but its manufacturing and assembling is done in China. So, 73 percent of its expenditure is from the expense of procuring its stock. Despite its great performance, only 1 percent of its annual costs went to pay employees’ salaries since it doesn’t have a large team and outsources production and after sales services as well.

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