Indian online bakery company Bakingo reported a 35% year-on-year rise in revenue from operations to Rs 405.8 crore in FY26, compared with Rs 300.3 crore in FY25. The growth came as more customers turned to online platforms for cakes, desserts and other bakery products.
However, higher operating costs affected the company's profitability. Bakingo's net loss more than doubled to Rs 36.9 crore during FY26. The increase in expenses highlights the challenges the company faces as it expands its business and works to strengthen its position in India's online bakery market. The figures are based on its financial statements filed with the Registrar of Companies (RoC).
Key Highlights
- Bakingo Revenue Rises 35% to Rs 405 Crore in FY26 as Net Loss Doubles
- India's Bakingo Reports Rs 405 Crore Revenue Amid Rising Operating Costs
Revenue Growth Supported by Expanding Operations
Founded in 2016 by Himanshu Chawla, Shrey Sehgal and Suman Patra, Bakingo sells a range of cakes and desserts, including cheesecakes, gourmet cakes and jar cakes. The company has expanded its operations to more than 30 cities and runs a network of over 100 kitchens.
Its product range includes more than 100 offerings for birthdays, celebrations and other occasions. Sales of bakery products remained its only source of operating revenue in FY26. Apart from sales, Bakingo earned Rs 7.3 crore through interest on investments and fixed deposits. This took its total income to Rs 413.65 crore during the financial year.
Despite the rise in revenue, the company spent more on running its business. Raw material costs accounted for its largest expense, increasing 40% to Rs 194.45 crore in FY26 from Rs 138.7 crore in FY25. These costs made up more than 43% of its total expenditure.
Rising Costs Push Losses Higher
Bakingo also reported higher spending on marketing, employees and platform services. Employee benefit expenses increased 40% to Rs 31.6 crore, while advertising expenses rose 35% to Rs 75.4 crore. Commission and platform fees also increased by more than 39% to Rs 53 crore.
The company additionally spent on delivery, transportation, outsourced services, power and fuel. Its total expenditure rose 38.7% to Rs 450.5 crore in FY26, compared with Rs 324.7 crore in the previous financial year.
As expenses grew faster than revenue, Bakingo's net loss increased to Rs 36.9 crore, more than double its FY25 loss. Its return on capital employed (ROCE) stood at -39%, while its EBITDA margin was -7.48%. At the unit level, Bakingo spent Rs 1.11 for every rupee earned from operations. The company reported current assets of Rs 86 crore at the end of FY26, including cash and bank balances of Rs 30 crore.
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Bakingo has raised a total of $26.5 million across two funding rounds. In August 2026, it secured Rs 100 crore (approximately $10.5 million) in a funding round led by existing investor Faering Capital. The investment valued the company at $173 million.
The FY26 results show that Bakingo is continuing to grow its business, but controlling costs remains a challenge. Spending on ingredients, advertising, delivery and platform commissions has increased alongside its expansion. How effectively the company manages these expenses while growing its customer base will be important to improving its financial performance in the coming years.
