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Every founder wants an IPO. Few know what it takes—until the ET Soonicorns Summit 2025
Every founder wants an IPO. Few know what it takes—until the ET Soonicorns Summit 2025

Time of India

time6 days ago

  • Business
  • Time of India

Every founder wants an IPO. Few know what it takes—until the ET Soonicorns Summit 2025

Arpit Chug, CFO, Razorpay: Academy Empower your mind, elevate your skills Sohil Parekh, CFO, Ather Energy: Building the financial narrative: Beyond just presenting numbers, the CFO must craft a compelling equity story that resonates with investors. This involves benchmarking the company's profitability against peers, identifying opportunities for improvement, and clearly articulating the long-term value creation strategy. Achieving financial and technological readiness: A successful IPO requires rock-solid financial foundations. This means implementing robust enterprise resource planning (ERP) systems, strengthening internal financial controls to meet public company standards, and building proficient finance teams across functions such as Financial Planning & Analysis (FP&A), Investor Relations (IR), and compliance. A significant number of IPO filings face delays or rejection due to disorganized reporting and weak governance, making this foundational work critical. Navigating the regulatory maze: The CFO must be the vanguard of compliance, ensuring every aspect of the company's operations and disclosures meets SEBI's stringent requirements. This includes meticulous oversight of related party transactions and ensuring the board structure is aligned with governance norms. Driving strategic capital allocation: As the custodian of shareholder funds, the CFO plays a pivotal role in deciding how capital is used, whether it's for reinvestment, acquisitions, or returning value to shareholders, all while ensuring a healthy return on capital. The Indian startup ecosystem is buzzing with renewed optimism for Initial Public Offerings (IPOs) in 2025. After a period of cautious sentiment, the market is showing signs of a robust comeback, with a strong pipeline of new-age companies gearing up to hit the public markets. This resurgence, however, comes with a transformed playbook. The 'growth at all costs' narrative that defined the previous tech boom has been firmly replaced by a demand for sustainable profitability, strong corporate governance, and clear financial this high-stakes environment, the role of the Chief Financial Officer (CFO) has evolved from a traditional bookkeeper to a strategic co-pilot for the founder. Navigating the complexities of a public listing in 2025 requires a CFO to be a master of financial strategy, a transparent storyteller, and a vigilant guardian of regulatory compliance. To shed light on this critical journey, the ET Soonicorns Summit 2025, scheduled for August 22nd in Bengaluru, will host a masterclass titled 'From Pre-IPO to Bell Ringing: The CFO Playbook for Navigating 2025's High-Stakes Market.'This crucial session at the ET Soonicorns Summit will feature two distinguished CFOs who are at the helm of financial strategy in some of India's most dynamic startups:Arpit Chug brings a wealth of experience from the highly regulated and complex world of financial services to his role at digital payments firm, the IPO-bound Razorpay , a leading fintech giant. Before joining Razorpay as its first-ever CFO, he spent 17 years at American Express, where he led finance teams across multiple verticals and geographies. At Razorpay, Chug is responsible for the finance, credit risk, and legal functions and has been instrumental in scaling the company's lending and neo-banking arms, Razorpay Capital and RazorpayX. He believes in telling financial stories through numbers and is focused on the '3Cs': effective capital allocation, robust compliance, and strategic cost management. His deep experience is vital as Razorpay, a company valued in the billions, reportedly intensifies its focus on profitability in preparation for an eventual Parekh is steering the financial journey of Ather Energy, a pioneer in India's competitive and capital-intensive electric vehicle (EV) market. His appointment as CFO was a strategic move to prepare the company for its planned public offering. Parekh, who joined Ather after more than seven years at Claris Lifesciences, took the financial reins at a critical time, tasked with guiding the company through its next phase of growth and its IPO journey. Ather has already navigated significant challenges, including the implementation of the FAME 2 scheme, and is closely watched as a bellwether for the EV manufacturing sector. Parekh's recent communications—via public statements and strategic updates—underscore the CFO's critical role in articulating Ather's financial roadmap and post-IPO session will delve into the key strategies and shifts in the IPO playbook that founders and their finance chiefs must execute for a successful listing in the current market. As the IPO landscape evolves, so do the challenges and expectations. Today's CFOs must be adept at building a compelling equity story, ensuring the company is technologically ready for the rigours of public market reporting, and navigating the ever-changing regulatory numbers paint a picture of a market on the upswing. In the second half of 2025, a massive ₹2.58 lakh crore worth of offerings are in the pipeline , a testament to renewed confidence. This follows a strong first half of the year, where 26 companies raised ₹52,200 crore . The momentum is fuelled by several factors, including strong domestic investor participation—particularly from mutual funds flush with capital from systematic investment plans (SIPs)—and private equity firms seeking profitable exits as their fund cycles this enthusiasm is tempered by a discerning investor base that now prioritises substance over sizzle. The era of valuing companies based on vanity metrics such as Gross Merchandise Value (GMV) or downloads is over. Public market investors now demand a clear line of sight to profitability, focusing on key performance indicators (KPIs) such as profit after tax (PAT), return on equity (RoE), and positive unit economics. This shift means that the IPO journey now begins much earlier, with a relentless focus on building a fundamentally sound and sustainable business model long before the bell-ringing to the complexity are recent regulatory shifts by the Securities and Exchange Board of India (SEBI). In a bid to protect retail investors and enhance corporate governance, SEBI has introduced stricter norms. These include capping the quantum of shares that existing shareholders of loss-making firms can sell in an IPO and tightening disclosure requirements around KPIs and past fundraising valuations. While some recent changes, including allowing founders to retain employee stock ownership plans (ESOPs) post-IPO, aim to make listing more attractive for startups, the overall message is clear: the path to a public listing is more rigorous and demands a higher standard of new era calls for a strategic CFO who can do much more than manage the books. The pre-IPO journey is an intense period of transformation, and the CFO is the chief architect. This masterclass will explore the core pillars of the modern CFO's playbook:The journey from a private startup to a publicly-listed entity is more challenging and scrutinised than ever before. The market's memory of tech IPOs that faltered post-listing has created a more discerning and demanding investor. Success in 2025 is not just about having a disruptive idea; it is about demonstrating a sustainable business model, impeccable governance, and a clear, profitable path founders and boards, this means recognising the strategic importance of the CFO far earlier in the company's lifecycle. Nearly nine out of ten conversations about hiring CFOs in the startup ecosystem are now centered on IPO preparedness. The role has transformed into a strategic partner to the CEO, responsible for architecting the value creation narrative and ensuring the entire organisation is ready for the intense scrutiny of public life. This masterclass at the ET Soonicorns Summit 2025, led by financial leaders who are actively navigating these waters, is therefore an unmissable opportunity. It promises to equip the next generation of founders and finance chiefs with the essential strategies and insights needed to not just ring the bell, but to build enduring value in the public markets long after the listing day celebrations have ended.360 One is the presenting partner of the ET Soonicorns Summit 2025.

Ather Energy loss narrows to ₹234.4 crore in Q4 on better gross margins
Ather Energy loss narrows to ₹234.4 crore in Q4 on better gross margins

The Hindu

time12-05-2025

  • Automotive
  • The Hindu

Ather Energy loss narrows to ₹234.4 crore in Q4 on better gross margins

Electric two-wheeler maker Ather Energy, which made its debut on stock exchanges early this month, on Monday reported an 18% drop in losses to ₹234.40 crore for the March quarter aided by better gross margins. The company had posted a loss of ₹283.30 crore in the year-ago period. The income from operations during the quarter rose 29.5% to ₹676.1 crore from ₹523.4 crore a year ago, it said. For 2024-25, Ather Energy posted a net loss of ₹812 crore compared to ₹1,059.70 crore a year ago. The company, in a presentation, said it sold 47,411 two-wheelers during the March quarter as against 35,244 units retailed in the corresponding quarter of FY 24, registering a year-on-year growth of 35%. "March quarter saw adjusted gross margin improving by 900 basis points while EBITDA — earnings before income, taxes, depreciation and amortisation — improved by 1,900 basis points. Volumes were robust, and we exited the quarter with strong market share gains at 13.3%, particularly in the south, and in new markets which have ramped up post-Rizta's launch," Ather Energy Chief Financial Officer Sohil Parekh told PTI. Adjusted gross margin for Q4 FY25 stood at 18% as against 9% in the same quarter of the year earlier while EBITDA was seen at negative 23% in the previous quarter vis-a-vis negative 42% in Q4FY24. Together, he said, this reflects not just revenue growth, but healthy discipline and strong fundamentals, laying a strong foundation for the company's path to profitability. Ather's current product portfolio comprises performance-focused 450 series and family-ride Rizta scooters. He said the company expanded its retail footprint by 32% in the March quarter of the previous fiscal alone and thereby closing the year with 351 experience centres across India. This helped drive deeper market penetration, especially in North and West India, where Rizta as a convenient scooter form factor has been gaining share Rapidly, Parekh said. "Our goal is to ensure a strong presence across the non-South markets as well. With the right form factor, we are very bullish about scaling our product portfolio now," he said. Rizta has seen exceptional response since its deliveries began in the second quarter of FY25, adding it now contributes as much as 57% of the Ather stroke volume, at the close of the fiscal, becoming a significant driver of growth in a very short span of time. Its appeal in the family and utility segment has allowed the company to expand its addressable market meaningfully and gain traction in newer geographies like Delhi, Rajasthan, Maharashtra, and Gujarat, he stated. "We enter this FY26 with a lot of optimism. This optimism is based on the last few quarters with already strong growth based on the 450. The Rizta coming in changed our trajectory of growth starting in July of last year and it allowed us to consolidate and solidify our position in the south," said Ravneet Phokela, Chief Business Officer at Ather Energy. 'FY25 has been a year of robust growth, with strong increases in both volume and profitability, year-on-year. On the back of our new product launches, we saw strong volume growth of 42%, and our continued investments in engineering and R&D delivered a strong improvement in margins," Tarun Mehta, Executive Director and CEO at Ather Energy, said in a statement. Adjusted gross margins doubled, growing by approximately 1,000 basis points and that helped reduce EBIDTA losses by approximately 1,300 basis points Over the preceding year,' he said. 'Our software sales have continued to trend strongly, with 88% of our customers choosing to buy our Pro Pack in FY25, contributing to improvement of our bottom line. Q4 was a strong quarter for distribution and saw a 32% expansion in our pan-India store count," he said. Ather Energy shares closed higher by 3.29% at ₹309.55 per share on BSE on Monday. Ather Energy made its debut on stock exchanges on May 6 after its ₹2,981-crore IPO.

ather energy: Ather Energy Q4 Results: Co's loss narrows to Rs 234.4 crore on better gross margins
ather energy: Ather Energy Q4 Results: Co's loss narrows to Rs 234.4 crore on better gross margins

Time of India

time12-05-2025

  • Automotive
  • Time of India

ather energy: Ather Energy Q4 Results: Co's loss narrows to Rs 234.4 crore on better gross margins

ADVERTISEMENT ADVERTISEMENT ADVERTISEMENT Electric two-wheeler maker Ather Energy , which made its debut on stock exchanges early this month, on Monday reported an 18 per cent drop in losses to Rs 234.40 crore for the March quarter aided by better gross margins. The company had posted a loss of Rs 283.30 crore in the year-ago income from operations during the quarter rose 29.5 per cent to Rs 676.1 crore from Rs 523.4 crore a year ago, it 2024-25, Ather Energy posted a net loss of Rs 812 crore compared to Rs 1,059.70 crore a year company, in a presentation, said it sold 47,411 two-wheelers during the March quarter as against 35,244 units retailed in the corresponding quarter of FY 24, registering a year-on-year growth of 35 per cent."March quarter saw adjusted gross margin improving by 900 basis points while EBITDA--earnings before income, taxes, depreciation and amortisation-- improved by 1,900 basis points. Volumes were robust, and we exited the quarter with strong market share gains at 13.3 per cent, particularly in the south, and in new markets which have ramped up post-Rista's launch," Ather Energy Chief Financial Officer Sohil Parekh told gross margin for Q4 FY25 stood at 18 per cent as against 9 per cent in the same quarter of the year earlier while EBITDA was seen at negative 23 per cent in the previous quarter vis-a-vis negative 42 per cent in he said, this reflects not just revenue growth, but healthy discipline and strong fundamentals, laying a strong foundation for the company's path to current product portfolio comprises performance-focused 450 series and family-ride Rizta said the company expanded its retail footprint by 32 per cent in the March quarter of the previous fiscal alone and thereby closing the year with 351 experience centres across India. This helped drive deeper market penetration, especially in North and West India, where Rista as a convenient scooter form factor has been gaining share Rapidly, Parekh said."Our goal is to ensure a strong presence across the non-South markets as well. With the right form factor, we are very bullish about scaling our product portfolio now," he has seen exceptional response since its deliveries began in the second quarter of FY25, adding it now contributes as much as 57 per cent of the Ather stroke volume, at the close of the fiscal, becoming a significant driver of growth in a very short span of appeal in the family and utility segment has allowed the company to expand its addressable market meaningfully and gain traction in newer geographies like Delhi, Rajasthan, Maharashtra, and Gujarat, he stated."We enter this FY26 with a lot of optimism. This optimism is based on the last few quarters with already strong growth based on the 450. The Rizta coming in changed our trajectory of growth starting in July of last year and it allowed us to consolidate and solidify our position in the south," said Ravneet Phokela, Chief Business Officer at Ather Energy."FY25 has been a year of robust growth, with strong increases in both volume and profitability, year-on-year. On the back of our new product launches, we saw strong volume growth of 42 per cent, and our continued investments in engineering and R&D delivered a strong improvement in margins," Tarun Mehta, Executive Director and CEO at Ather Energy, said in a gross margins doubled, growing by approximately 1,000 basis points and that helped reduce EBIDTA losses by approximately 1,300 basis points Over the preceding year," he said."Our software sales have continued to trend strongly, with 88 per cent of our customers choosing to buy our Pro Pack in FY25, contributing to improvement of our bottom line. Q4 was a strong quarter for distribution and saw a 32 per cent expansion in our pan-India store count," he Energy shares closed higher by 3.29 per cent at Rs 309.55 per share on BSE on Monday. Ather Energy made its debut on stock exchanges on May 6 after its Rs 2,981-crore IPO.

Ather Energy Q4 Results: Co's loss narrows to Rs 234.4 crore on better gross margins
Ather Energy Q4 Results: Co's loss narrows to Rs 234.4 crore on better gross margins

Time of India

time12-05-2025

  • Automotive
  • Time of India

Ather Energy Q4 Results: Co's loss narrows to Rs 234.4 crore on better gross margins

Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Electric two-wheeler maker Ather Energy , which made its debut on stock exchanges early this month, on Monday reported an 18 per cent drop in losses to Rs 234.40 crore for the March quarter aided by better gross margins. The company had posted a loss of Rs 283.30 crore in the year-ago income from operations during the quarter rose 29.5 per cent to Rs 676.1 crore from Rs 523.4 crore a year ago, it 2024-25, Ather Energy posted a net loss of Rs 812 crore compared to Rs 1,059.70 crore a year company, in a presentation, said it sold 47,411 two-wheelers during the March quarter as against 35,244 units retailed in the corresponding quarter of FY 24, registering a year-on-year growth of 35 per cent."March quarter saw adjusted gross margin improving by 900 basis points while EBITDA--earnings before income, taxes, depreciation and amortisation-- improved by 1,900 basis points. Volumes were robust, and we exited the quarter with strong market share gains at 13.3 per cent, particularly in the south, and in new markets which have ramped up post-Rista's launch," Ather Energy Chief Financial Officer Sohil Parekh told gross margin for Q4 FY25 stood at 18 per cent as against 9 per cent in the same quarter of the year earlier while EBITDA was seen at negative 23 per cent in the previous quarter vis-a-vis negative 42 per cent in he said, this reflects not just revenue growth, but healthy discipline and strong fundamentals, laying a strong foundation for the company's path to current product portfolio comprises performance-focused 450 series and family-ride Rizta said the company expanded its retail footprint by 32 per cent in the March quarter of the previous fiscal alone and thereby closing the year with 351 experience centres across India. This helped drive deeper market penetration, especially in North and West India, where Rista as a convenient scooter form factor has been gaining share Rapidly, Parekh said."Our goal is to ensure a strong presence across the non-South markets as well. With the right form factor, we are very bullish about scaling our product portfolio now," he has seen exceptional response since its deliveries began in the second quarter of FY25, adding it now contributes as much as 57 per cent of the Ather stroke volume, at the close of the fiscal, becoming a significant driver of growth in a very short span of appeal in the family and utility segment has allowed the company to expand its addressable market meaningfully and gain traction in newer geographies like Delhi, Rajasthan, Maharashtra, and Gujarat, he stated."We enter this FY26 with a lot of optimism. This optimism is based on the last few quarters with already strong growth based on the 450. The Rizta coming in changed our trajectory of growth starting in July of last year and it allowed us to consolidate and solidify our position in the south," said Ravneet Phokela, Chief Business Officer at Ather Energy."FY25 has been a year of robust growth, with strong increases in both volume and profitability, year-on-year. On the back of our new product launches, we saw strong volume growth of 42 per cent, and our continued investments in engineering and R&D delivered a strong improvement in margins," Tarun Mehta, Executive Director and CEO at Ather Energy, said in a gross margins doubled, growing by approximately 1,000 basis points and that helped reduce EBIDTA losses by approximately 1,300 basis points Over the preceding year," he said."Our software sales have continued to trend strongly, with 88 per cent of our customers choosing to buy our Pro Pack in FY25, contributing to improvement of our bottom line. Q4 was a strong quarter for distribution and saw a 32 per cent expansion in our pan-India store count," he Energy shares closed higher by 3.29 per cent at Rs 309.55 per share on BSE on Monday. Ather Energy made its debut on stock exchanges on May 6 after its Rs 2,981-crore IPO.

Ather Energy Q4 Results: Co's loss narrows to Rs 234.4 crore on better gross margins
Ather Energy Q4 Results: Co's loss narrows to Rs 234.4 crore on better gross margins

Economic Times

time12-05-2025

  • Automotive
  • Economic Times

Ather Energy Q4 Results: Co's loss narrows to Rs 234.4 crore on better gross margins

Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Electric two-wheeler maker Ather Energy , which made its debut on stock exchanges early this month, on Monday reported an 18 per cent drop in losses to Rs 234.40 crore for the March quarter aided by better gross margins. The company had posted a loss of Rs 283.30 crore in the year-ago income from operations during the quarter rose 29.5 per cent to Rs 676.1 crore from Rs 523.4 crore a year ago, it 2024-25, Ather Energy posted a net loss of Rs 812 crore compared to Rs 1,059.70 crore a year company, in a presentation, said it sold 47,411 two-wheelers during the March quarter as against 35,244 units retailed in the corresponding quarter of FY 24, registering a year-on-year growth of 35 per cent."March quarter saw adjusted gross margin improving by 900 basis points while EBITDA--earnings before income, taxes, depreciation and amortisation-- improved by 1,900 basis points. Volumes were robust, and we exited the quarter with strong market share gains at 13.3 per cent, particularly in the south, and in new markets which have ramped up post-Rista's launch," Ather Energy Chief Financial Officer Sohil Parekh told gross margin for Q4 FY25 stood at 18 per cent as against 9 per cent in the same quarter of the year earlier while EBITDA was seen at negative 23 per cent in the previous quarter vis-a-vis negative 42 per cent in he said, this reflects not just revenue growth, but healthy discipline and strong fundamentals, laying a strong foundation for the company's path to current product portfolio comprises performance-focused 450 series and family-ride Rizta said the company expanded its retail footprint by 32 per cent in the March quarter of the previous fiscal alone and thereby closing the year with 351 experience centres across India. This helped drive deeper market penetration, especially in North and West India, where Rista as a convenient scooter form factor has been gaining share Rapidly, Parekh said."Our goal is to ensure a strong presence across the non-South markets as well. With the right form factor, we are very bullish about scaling our product portfolio now," he has seen exceptional response since its deliveries began in the second quarter of FY25, adding it now contributes as much as 57 per cent of the Ather stroke volume, at the close of the fiscal, becoming a significant driver of growth in a very short span of appeal in the family and utility segment has allowed the company to expand its addressable market meaningfully and gain traction in newer geographies like Delhi, Rajasthan, Maharashtra, and Gujarat, he stated."We enter this FY26 with a lot of optimism. This optimism is based on the last few quarters with already strong growth based on the 450. The Rizta coming in changed our trajectory of growth starting in July of last year and it allowed us to consolidate and solidify our position in the south," said Ravneet Phokela, Chief Business Officer at Ather Energy."FY25 has been a year of robust growth, with strong increases in both volume and profitability, year-on-year. On the back of our new product launches, we saw strong volume growth of 42 per cent, and our continued investments in engineering and R&D delivered a strong improvement in margins," Tarun Mehta, Executive Director and CEO at Ather Energy, said in a gross margins doubled, growing by approximately 1,000 basis points and that helped reduce EBIDTA losses by approximately 1,300 basis points Over the preceding year," he said."Our software sales have continued to trend strongly, with 88 per cent of our customers choosing to buy our Pro Pack in FY25, contributing to improvement of our bottom line. Q4 was a strong quarter for distribution and saw a 32 per cent expansion in our pan-India store count," he Energy shares closed higher by 3.29 per cent at Rs 309.55 per share on BSE on Monday. Ather Energy made its debut on stock exchanges on May 6 after its Rs 2,981-crore IPO.

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