Seven years ago, we embarked on a journey to solve a core problem in education: Digital Transformation.
From our humble beginnings, year after year, we broadened our horizons to become the “Revenue Maximization Platform of choice for educational organisations”, propelled continuously by the faith and unwavering support of our customers.
Meritto’s story is one of innovation, growth, and relentless pursuit of excellence, all while staying frugal. Over the past fiscal year, we have achieved remarkable milestones that underscore our commitment to transforming the education sector.
As we prepare for IPO processes, we believe this is the perfect time to present our FY24 journey in the form of an Annual Business Summary.
Key Highlights
Driven by our commitment to ‘responsible growth,’ we dedicated FY24 to not only boosting our overall revenue but also mastering the art of effective expense management. Our focus was unwavering: grow wisely and sustainably.
- Responsible Business Growth:
- Revenue Growth: Meritto’s revenue from operations grew ~45% YoY in FY24 to reach INR 70.0 crore
- EBITDA Surge: Adjusted EBITDA (before ESOP expenses) grew ~161% to reach INR 6.3 crore
- Solid growth in Q1:
- For Q1 FY25, Meritto recorded a revenue of INR 26.2 crore., a 40% YoY growth over the same period last year (unaudited)
- For Q1 FY25, Meritto recorded a profit before tax of INR 1.4 crore
- New Business: Added 177 new clients with a 21% increase in the annual contract value (ACV)
- Global Expansion: Expanded our operations to the UAE and Malaysia
- Technology Prowess: Processed over 5.7B+ activities, INR 12B+ worth of transactions
Read the full report
We couldn’t have reached this point without the support of our incredible team, clients, and partners. As we embark on this exciting new chapter, I invite our readers to engage with us at corpdev@meritto.com
Your feedback, suggestions, and enquiries are crucial as we strive to uphold our commitment to transparency.
