Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria,CFA

Sreemant Dudhoria is a CFA Charterholder with 15 years of experience in equity research and information technology. He is also a SEBI-registered Research Analyst (Registration Number: INH000016861). His focus is on analyzing companies with bottom-up specific triggers. Previously, he has worked with Unifi Capital and Infosys Technologies Limited.

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Capital Markets

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<a href="https://www.smartkarma.com/entities/urban-company" target="_blank" data-smartkarma-citation="entities:33475:1" rel="noopener">Urban Company (UCL IN)</a> reported profits in FY25 after years of losses, but the improvement is largely due to temporary cost compression and one-off accounting adjustments.</li>
<li>Revenue growth remains robust (INR11,445m in FY25 vs INR 6,366m in FY23), but profitability sustainability is questionable given competition and structural risks.</li>
<li>Deferred tax credits (INR 2112m in FY25) inflated net profit to INR 2,398m despite thin operating profit (Adj. EBITDA only ₹121m, 1.06% margin).</li>
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Urban Company (UCL IN) reported profits in FY25 after years of losses, but the improvement is largely due to temporary cost compression and one-off accounting adjustments.
Revenue growth remains robust (INR11,445m in FY25 vs INR 6,366m in FY23), but profitability sustainability is questionable given competition and structural risks.
Deferred tax credits (INR 2112m in FY25) inflated net profit to INR 2,398m despite thin operating profit (Adj. EBITDA only ₹121m, 1.06% margin).


Urban Company IPO – Profitability Just Before the IPO Appears to Be a Mirage