Aksum FY24 Results: Record Growth with Revenue Doubling and Net Profit Surging by 700%
Aksum Trademart, a Delhi-based B2B supply chain as a service (SCaS), announced its financial results for FY24 nearly doubling its revenue to ₹240 Crore, reflecting a remarkable 143% year-over-year increase. Its net profit also soared seven times (700%) YoY.At 240 crores, Inflection Point Ventures (IPV) backed start-up’s revenue has grown 18.6 times since the FY22, which was the first year of startup.
The company credits its achievements to steady geographical expansion and diversified product portfolio. Over the past year, Aksum successfully extended its footprint to more than 40 cities across India, solidifying its position in key markets. Its product range grew significantly with the addition of polymers and MRO (maintenance, repair, and operations) items, alongside its existing verticals in steel, scrap, chemicals, and construction materials. With over 600 unique SKUs delivered during the year, Aksum aims at becoming a one-stop solution for its growing customer base.
Mr. Sumit Bhatia, Co- Founder, Aksum Trademart Pvt Ltd, said “We are thrilled to report another year of exceptional performance. Our success reflects our steadfast commitment to building efficient and sustainable supply chains for SMEs and corporations. With this momentum, we look forward to FY25, driving further growth through innovation, sustainability, and robust governance.”
Aksum’s investments in technology also played a pivotal role in its success. Enhancements to the company’s digital platforms and mobile apps have improved operational efficiency and elevated client service capabilities. By creating a seamless ecosystem that integrates logistics, vendors, customers, and banks, Aksum has laid the groundwork for long-term collaboration and value creation.
Sustainability remains a cornerstone of Aksum’s strategy. The company’s focus on its scrap and secondary steel verticals has contributed to over 50% of its revenue, aligning with its commitment to promoting a circular economy. These initiatives not only drive profitability but also create a more efficient and environmentally friendly production model.
Aksum has also taken significant steps to strengthen its governance and financial transparency. By appointing Grant Thornton as its statutory auditor, the company reinforces its commitment to high standards of financial reporting and investor confidence. Partnerships with leading financial institutions such as SBI, HDFC, ICICI, and Yes Bank further validate Aksum’s robust business model, while providing an enabling ecosystem for customers and suppliers.
The company’s SME-first approach has been a key differentiator, fostering growth opportunities for small and medium enterprises in its network. By prioritizing partnerships with SMEs, Aksum has empowered these businesses to scale sustainably while integrating them into its broader supply chain strategy.
With a strong corporate clientele, a focus on innovation, and an unwavering dedication to sustainability, Aksum is well-positioned to continue its extraordinary growth trajectory in the years ahead.
