Curefoods Revenue Rises 23% to Rs 916 Crore in FY26, Net Loss Widens to Rs 192 Crore
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Khushi Jain
- September 18, 2026
Curefoods grew its operating revenue 23% to Rs 916 crore in FY26, while its net loss widened to Rs 192 crore. The Ankit Nagori-led cloud kitchen company had recently put its Rs 800 crore IPO plans on hold amid market volatility, making its latest financial performance particularly relevant.
While EBITDA losses narrowed and margins improved, higher depreciation and finance costs continued to weigh on profitability.
Curefoods’ revenue from operations increased to Rs 916.2 crore in FY26 from Rs 745.8 crore in FY25, according to its consolidated financial statements sourced from the Registrar of Companies.
Curefoods operates a multi-brand food business across healthy meals, biryani, pizza, desserts and South Indian cuisine. Its portfolio includes EatFit, Sharief Bhai Biryani, OLIO, Arambam, Krispy Kreme, Nomad Pizza, CakeZone and Frozen Bottle.
The company runs these brands through a shared network of 281 cloud kitchens, 99 kiosks and 122 restaurants.
Sales of food and other products accounted for 99% of operating revenue and increased 23% to Rs 908.4 crore during the year. Revenue from services and other operating activities, including franchisee fees, contributed the remaining Rs 7.8 crore.
India remained Curefoods’ core market, generating Rs 893.3 crore in revenue in FY26, while revenue from overseas markets increased 4X to Rs 22.85 crore.
The company also earned Rs 18.6 crore from non-operating activities, including interest income and gains on mutual funds. This took its total income to Rs 934.8 crore in the last fiscal year.
Expenses and Profitability
Material expenses remained Curefoods’ largest cost centre and increased 13.5% to Rs 310.4 crore.
Employee benefit expenses rose 19% to Rs 213.9 crore, including Rs 33 crore in ESOP expenses.
Commission costs increased 22% to Rs 166.8 crore, while depreciation and amortisation expenses rose 24% to Rs 100.6 crore.
Advertising and promotional expenses, meanwhile, declined 10% to Rs 79 crore during the year.
Other overheads, including rent, electricity, and legal and professional expenses, added another Rs 256.3 crore. This took Curefoods’ total expenditure to Rs 1,127 crore in FY26, up 19% year-on-year.
The company’s net loss widened 13% to Rs 192.2 crore in FY26 from Rs 170 crore in the previous fiscal year.
However, the growth in expenses remained below the rise in operating revenue, helping Curefoods narrow its EBITDA loss to around Rs 69.3 crore from Rs 86 crore in FY25.
Its EBITDA margin improved to negative 7.6% from negative 11.5% during the same period.
While the operating trend improved, higher depreciation and finance costs continued to weigh on the company’s bottom line.
Cash Position and IPO Plans
At a unit level, Curefoods spent Rs 1.23 to earn a rupee of operating revenue in FY26, compared with Rs 1.27 in FY25.
Its cash and bank balance declined 51% to Rs 39.4 crore at the end of FY26, while current assets fell 21% to Rs 267.7 crore.
Curefoods had received SEBI approval for its proposed Rs 800 crore IPO after filing its draft papers in October 2025. The company later put the listing plan on hold amid volatile market conditions.
Curefoods’ numbers show an improvement at the operating level, while profitability remains under pressure. The narrowing EBITDA loss indicates an improvement in operating performance, but higher depreciation and finance costs continue to affect the bottom line.
FAQs
1. What was Curefoods’ operating revenue in FY26?
Curefoods’ operating revenue stood at Rs 916.2 crore in FY26, up 23% from Rs 745.8 crore in FY25.
2. What was Curefoods’ net loss in FY26?
Curefoods reported a net loss of Rs 192.2 crore in FY26, compared with Rs 170 crore in the previous fiscal year.
3. How much did Curefoods’ EBITDA loss narrow in FY26?
Curefoods’ EBITDA loss narrowed to around Rs 69.3 crore from Rs 86 crore in FY25.
4. What is the size of Curefoods’ proposed IPO?
Curefoods has a proposed Rs 800 crore IPO.
5. What brands are part of Curefoods’ portfolio?
Curefoods’ portfolio includes EatFit, Sharief Bhai Biryani, OLIO, Arambam, Krispy Kreme, Nomad Pizza, CakeZone and Frozen Bottle.
