IPO-bound Imagine Marketing Ltd, known for its consumer electronics brand boAt, has reported a return to profitability after two years, posting a net profit exceeding ₹60 crore for the fiscal year 2025 (FY25). The company attributed this turnaround to product innovation and strict cost management.
According to a statement from the company, boAt achieved a consolidated net profit of over ₹60 crore and EBITDA exceeding ₹142 crore in FY25, reversing a net loss of ₹79.7 crore in FY24. This recovery followed a significant reduction in losses, which fell from ₹129.5 crore in FY23 to ₹79.7 crore in FY24. The company’s consolidated revenue for FY25 was reported at ₹3,097.8 crore.
In April, the company filed for an Initial Public Offering (IPO) through a confidential pre-filing route and received approval from the Securities and Exchange Board of India (SEBI) for its IPO in late August.
Sameer Mehta, Co-founder and Executive Director of boAt, stated, “This milestone of returning to profitability after two years reflects the resilience of our business model and the trust of millions of consumers who continue to choose boAt. Our ability to innovate, scale new categories, and adapt quickly to evolving consumer preferences has kept us ahead in a dynamic market.”
In the audio segment, boAt strengthened its leadership position, maintaining a solid double-digit share in India’s personal audio market and ranking as the third-largest company globally in branded personal audio. The company employed a software-led ecosystem approach in wearables, which led the business closer to EBITDA neutrality in the last quarter of the fiscal year.
The firm highlighted its efforts to enhance its channel mix, noting that quick commerce has become a significant growth driver along with e-commerce, offline retail, and exports. In FY25, boAt launched over 100 new products.
Additionally, more than 70 percent of the brand’s volumes are now manufactured domestically, bolstering its localization initiatives across printed circuit boards (PCBs), plastics, and other components to strengthen supply chain resilience.
Gaurav Nayyar, CEO of boAt, remarked, “FY25 marks a pivotal turning point for boAt. Through cost discipline, innovation, and a deep understanding of consumer needs, we have not only returned to profitability but also laid the foundation for long-term sustainable growth. From strengthening our leadership in audio to reimagining wearables and entering new categories, we are building a future-ready, diversified organization.” The company is also actively expanding its international presence, particularly in GCC markets.
Published on October 6, 2025.
