Back to profit and stronger than ever, IPO-bound boAt signals resurgence in India’s wearables and audio market.
Audio and wearables brand boAt has swung back to profitability in FY25, posting a consolidated net profit of over ₹600 million after reporting a loss of ₹800 million in the previous year. The turnaround, driven by tighter cost control and continued innovation, marks a significant recovery for the IPO-bound company following two years of narrowing losses.
On a standalone basis, boAt recorded ₹30.896 billion in revenue and a net profit of ₹642 million in FY25. The improvement follows reduced losses in FY24, which had fallen from ₹1295 million in FY23 to ₹797 million. The company credited the positive shift to operational efficiency, consumer-driven product design, and its commitment to the “Make in India” initiative.
“Through cost discipline, innovation, and a deep understanding of consumer needs, we have not only returned to profitability but also laid the foundation for long-term sustainable growth,” said Vivek Nayyar, CEO of boAt. Cofounder Sameer Mehta added that the performance underscores the brand’s resilience and customer trust.
boAt’s parent company, Imagine Marketing, has confidentially filed draft papers with SEBI for its initial public offering (IPO), marking its second attempt to go public after withdrawing its earlier ₹20 billion IPO plan in 2022. Founded in 2015 by Aman Gupta and Sameer Mehta, boAt has raised $171 million to date and built a diversified product portfolio across audio, wearables, and accessories, supported by global partnerships with Qualcomm and Dolby.
The company’s return to profit strengthens its financial position as it prepares for a long-anticipated market debut.
