India has a population of more than 140 crores and is a great market for eyewear. For the past many years, there have been eyewear shops available in local areas where one used to go and buy glasses. However, since 2010, a company has drastically changed the Indian eyewear industry by including technology, affordability, and a personalized experience for the consumer. The company is called “Lenskart”.
In this blog, we will dive deep into Lenskart’s history, marketing strategies that made it successful, and SWOT analysis.
Overview of Lenskart Company
Lenskart is an Indian eyewear brand founded in 2010 and is one of Asia’s largest eyewear brands. The company has changed the landscape of the Indian eyewear industry by offering users convenience to choose from a wide variety of spectacles from home. Customers can select the eyewear through their online store by trying it on using 3D technology. Later, the company also opened their offline stores as well.The company headquarters are situated in Gurugram.
History of Lenskart
The history of Lenskart can be divided into two phases: foundation and expansion.
Foundation
Lenskart was founded in 2010 by Peyush Bansal, along with two other individuals, Amit Chaudhary and Sumeet Kaphai.
Peyush was a former Microsoft employee and a dropout of IIM Bangalore.
Initially he started Valyoo Technologies, which has four verticals such as watchkart, bagskart, jewelskart and lenskart.
Among all the ventures, Lenskart emerged as the most promising one.
Expansion
The company initially began as an eyewear retailer offering them at the lowest prices.
In 2013, it introduced home eye checkup services that were not provided by any other player in the market.
The company introduced a 3D technology through which a user can try eyewear virtually.
In 2017, the company opened its retail store and began as an omnichannel model.
By 2019, the company had opened more than a hundred stores across the country.
By 2020, the company was valued at $1 billion and achieved the status of a unicorn.
In 2021, the company began its manufacturing facility in Rajasthan.
In 2022, The company acquired a controlling stake in a Japanese eyewear retail chain named OWNDAYS for $400 million.
The company recently raised over $200 million from Temasek and Fidelity.
The company opened more than 2,000 stores around the world, prominently in countries of Southeast Asia, UAE, and the USA.
Marketing Strategy of Lenskart
Lenskart has used impressive marketing strategies to help it establish itself as a prominent player in the optical industry. The marketing strategies are as follows:
Omni-Channel Presence: Lenskart has a combined presence of both online and offline retail outlets. Through their mobile application and website, they offer a try-on feature for eyewear and they have more than 1500 stores across India.
Digital Marketing: The company has a social media presence across different platforms like Facebook, YouTube, Instagram, etc. They have various strategic collaborations with various lifestyle and fashion influencers. They have a dedicated team of SEO and content marketing, which primarily focuses on enhancing brand visibility.
Celebrity Endorsements: They have renowned celebrities like Katrina Kaif, Bhuvan Bam, etc., as their brand ambassadors.
Pricing: They offer competitive prices and discounts to their customers, through which they stay ahead of the competition.
Manufacturing: They make their glasses, lenses and frames at their in-house manufacturing facilities, which ensures quality and pricing controls.
Product Portfolio of Lenskart
The product portfolio of Lenskart includes the following products:
Prescription Glasses: The company offers all kinds of power glasses, such as single vision, bifocal, progressive, etc.
Frame: It offers a wider range of designs and frames, including rimless, half-rim and full rim.
Sunglasses: The company’s product portfolio also includes all kinds of sunglasses, ranging from aviator, cat-eye, etc. to protect from UV.
Contact Lenses: Contact lenses of top brands such as Bausch Lomb, Alcon, etc. are available at Lenskart. Along with this, they also have their own brand of contact lenses named Aqualens.
Business Model of Lenskart
The business model of Lenskart is mentioned below:
They have a presence across all channels, offering its products to customers through both digital and retail channels.
Lenskart doesn’t compromise with the quality of the product; therefore, they have their manufacturing unit, allowing them to control cost and quality.
The company also offers a subscription program named “Lenskart Gold”, which allows them to have a recurring revenue source.
SWOT Analysis of Lenskart
Strengths
The company has a strong brand image because of collaborations with various celebrities.
It offers its products at affordable rates, which helps it in staying ahead of the competition.
Their customer-centric services, such as home eye testing, free eye checkups, help them establish themselves as a distinguished entity in the eyewear industry.
Weakness
The company’s primary revenue comes from the urban areas, hence they are heavily reliant on urban customers.
Lenskart primarily focuses on eyewear and thus doesn’t have diversified revenue streams.
The company’s offline store adds to its high operating costs and therefore reduces profits.
Opportunities
The company can expand itself in the rural areas, which provides them with better growth opportunities.
Lenskart can add various other products to its product lineup and have a diversified source of revenue.
With the rise in smartphone usage, the demand for protective eyewear will also increase, which can lead to an increase in the company’s revenue.
Threats
The company faces intense competition from the local manufacturers, along with other established brands like Titan.
Any economic downturn might lead to a decrease in demand for eyewear and protective sunglasses.
With advancement in medical technologies, the eye treatment costs are getting cheaper; hence, instead of buying eyewear and contact lenses, people are increasingly preferring eye surgeries over eyeglasses.
Conclusion
On a concluding note, Lenskart has changed the landscape of the Indian eyewear industry by successfully integrating offline trust with online convenience. They primarily focus on latest technology and offer the customer the convenience to try on frames using their smartphones and laptops at home. They filled the gap between traditional eyewear and stylish eyewear by introducing trendy eyewear frames. They have strategically partnered with various celebrities, which helps them enhance their brand visibility. In the past 15 years, it has established itself as a prominent player in the Indian eyewear market.
Frequently Asked Questions (FAQS)
Who is the owner of Lenskart?
Lenskart is owned by Peyush Bansal, the founder and current CEO of the company.
Where is the headquarters of Lenskart situated?
The headquarters of Lenskart are situated in Gurgaon.
Is Lenskart a unicorn company?
Yes, Lenskart is a unicorn company, and its valuation is more than $1 billion.
Is Lenskart a listed company?
No, Lenskart is not a listed company. However, there are rumours that the company is expected to launch its IPO in 2025.
Is John Jacob an Indian brand?
Yes, John Jacobs is an Indian brand launched by Lenskart in 2017.
Whenever you think of biscuits, one of the names that instantly comes to your mind is Parle-G. Initially it was established as a candies manufacturing company and over time it has established itself as one of the largest biscuit manufacturers in India.
In this blog, we will give you an overview of Parle, its history, business model competitors along with the SWOT analysis.
Parle Company Overview
Parle is one of the oldest and well-known companies in the FMCG segment renowned for popular brands such as Parle G, Hide & Seek, Mango Bite, Melody, etc. In 2011, Parle G was the top-selling biscuit in India. The company was launched by the Chauhan family and initially it offered affordable snacks but later started baking biscuits. The company uses different marketing strategies to establish itself as a global brand. The company has its headquarters situated in Mumbai.
History of Parle
The company was incorporated in 1929 by Vijay Chauhan, Sharad Chauhan, and Raj Chauhan. It started manufacturing Parle-G biscuits in 1939, which were glucose biscuits. The biscuit was initially named Parle-Glucose biscuit, but in 1980, it changed the name to Parle-G, in which G refers to glucose, and it was campaigned as G means genius.
Over the years, the company acquired various international brands such as Dr. Gerard of Poland. To compete with established brands like Kellogg’s and Nestle, it also introduces cereals into its product line. The company has recently increased the prices of Parle G biscuits, but despite this, it records a surge in sales. Currently, the company has more than 50,000 employees.
The Parle has a diversified product portfolio spread across four different categories:
Biscuits: The company offers various biscuits such as Parle-G, Krackjack, Hide & Seek, Monaco, etc.
Confectionery: The company was originally started as a candy manufacturer and sells candies like mango bite, melody, etc.
Snacks: Parle also offers snacks such as wafers, namkeens, etc.
Beverages: Parle has also diversified into the beverages sector and offers beverages like Frooti, Appy Fizz, etc.
Business Model of Parle
The business model of Parle is as follows:
Low Cost: Parle primarily focuses on high-volume production, which helps them keep the cost very low. Parle-G is the flagship product of the company which is selling at a very nominal price.
Distribution Network: The company has a strong distribution network, which helps them in reaching the remote areas of India. Through a wide distribution channel the company can easily increase its revenue.
Emotional Connect: The company has successfully made an emotional connection with its customers through its innovative marketing campaign.
Small Production Facilities: The company has established several small production facilities spread across the country, allowing them to easily achieve high production volumes.
Marketing Strategy of Parle
The company uses various marketing strategies, which help them in promoting their brand. These activities include hiring popular celebrities as brand ambassadors, advertising campaigns, etc. The company also places its flyers in stores and promotes its products across social media platforms.
Competitors of Parle
Various market players give intense competition to Parle; the companies are as follows:
Britannia Industries Limited: This is one of the prominent competitors of Parle. Their products like Good Day, Marie Gold, Treat, etc. give intense competition to Parle’s products.
ITC Limited: ITC’s snacks and biscuits such as Dark Fantasy, Sunfeast Marie Light, etc. gives direct competition to Parle.
Nestle India: Nestle’s products such as Munch, Kitkat, are very famous among the Indian consumers.
Surya Food and Agro Limited: The company sells its biscuits under the brand name Priya Gold. Some of its most famous products are Marie Lite, Snakker, etc. providing affordable options to the Indian consumers.
Brand Image: The company has a strong brand image and is recognised as a prominent player in the biscuit industry.
Pricing: The products of Parle are priced in a manner that every Indian consumer can easily buy them.
Distribution Network: The company has a strong distribution network spread across India, helping them in reaching every corner of the country.
Weakness
Limited Digital Presence: The company invests less on expanding its digital presence.
Focus on only Mass Segment: The Parle primarily focuses on the mass segment, and has limited offering in the premium segment.
Dependence: A major source of company revenue comes from its flagship products such as Parle-G and Hide & Seek.
Opportunities
E-Commerce: With the rise of online retail platforms, companies can increase their revenue.
Global Expansion: In the world of globalization, the company can expand its business operations across the world and increase its revenue.
New Products: It can launch new products and can also introduce new flavours in its existing product line to cater to changing consumer preferences.
Threat
Competition: The company faces intense competition from existing and new players, including products from local brands.
Consumer Preference: The preferences of consumers are evolving; therefore, in order to stay ahead they must stay in touch with their consumers and incorporate their suggestions in future product offerings.
Raw Material: Increasing raw materials prices can decrease the profit margins of Parle.
Parle is not just a company, it is a household name famous for its products like Parle-G, Hide & Seek, Melody, etc. It started as a small candy manufacturing company and today it has evolved into a well-known brand known for its biscuits, beverages, etc. With the changing consumer preferences, the company is also planning to introduce new flavours and better products. It has recently increased the price of a few of their products; however, it has not impacted the sales of the company. The journey of Parle from being a small business to a well-known FMCG brand can be considered one of the inspiring stories of Indian business.
S.NO.
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Parle-G biscuit is the most famous product of Parle. However, their other products are also famous such as Krackjack, Hide & Seek, candies like mango bite, melody, etc.
Is Parle an Indian company?
Yes, Parle is an Indian company and was founded in 1929 by the Chauhan brothers.
Who are the major competitors of Parle?
Parle faces intense competition from various local and global brands like Britannia, ITC, Nestle, etc.
How can Parle maintain its low prices?
Parle has established various manufacturing units across the country, and focuses on mass production which helps them in keeping their prices low.
Is Parle listed on the Indian Stock Exchange?
No, Parle is not listed on the Indian Stock Exchange.
When you think of moving cars and trucks on Indian roads, two names instantly pop up: Tata Motors and Ashok Leyland. From the car you drive to the bus you hop on every morning, chances are it rolled out of a factory owned by one of these giants. But while both have become household names, they’ve taken very different routes to become a key player in the Indian automobile sector.
Tata Motors is a bit of a jack-of-all-trades as you’ll find their name on practically everything, from compact city cars and rugged SUVs to commercial trucks and other electric vehicles. They’ve got their foot in almost every segment of the automobile world. Ashok Leyland, on the other hand, has carved out its niche by building tough, reliable trucks and buses that keep India moving.
In this blog, we’ll learn about what sets them apart and help you decide who’s driving ahead in the areas that matter most to you.
Tata Motors – An Overview
For decades, Tata Motors has been more than just a name on Indian roads. Established in 1945 under the wing of the legendary Tata Group, the company first started by building locomotives. But it wasn’t long before they set their eyes on something bigger and hit the road.
In 1954, Tata Motors Ltd unveiled its first commercial vehicle as a result of its partnership with Germany’s Daimler-Benz. That was just the beginning and over the years, they’ve built everything from trucks and buses to stylish passenger cars and modern electric vehicles.
One of their biggest achievements was in 1998 with the launch of the Tata Indica, the first car designed and built entirely in India. It was a game-changer and of course, who could forget the Tata Nano? It turned heads worldwide as the most affordable car on the planet.
Then came 2008, as Tata Motors acquired not one but two legendary car brands: Jaguar and Land Rover from Ford Motor Company. With that bold move, they weren’t just playing in the big leagues, they were announcing themselves on the global stage.
Fast forward to today, Tata Motors is steering into the future as it’s no longer just about building vehicles, it’s about reimagining mobility itself. From electric cars and connected tech to cleaner, smarter public transport, they’re focused on moving India, and the world, forward, one innovative step at a time.
The company’s name, Ashok Leyland Ltd, has been synonymous with commercial vehicles for a long time, visible to anyone who ever caught a glimpse of a bus or a big truck passing by. Ashok Leyland was established in 1948, and as soon as India gained independence, it was known as Ashok Motors. Soon after, Ashok Motors partnered up with Leyland Motors, and this led to the formation of the brand we know today as Ashok Leyland.
From the early days of assembling Austin cars to becoming one of the top commercial vehicle manufacturers in India, it’s been quite a journey. Over the decades, Ashok Leyland has built everything from buses that carry millions of people daily to powerful trucks that move goods across the country. They’re even behind some of the vehicles used by the Indian Army.
What makes Ashok Leyland special is its forward-thinking and constant efforts to align its products with the needs of the customers. They’ve led the way in adopting cleaner and more efficient technologies, and are also pushing the frontiers in electric mobility and alternative fuels. Ashok Leyland, in the past few years, has become an international brand as well as it serves more than 50 countries across the world.
If you want a company that manufactures everything such as cars, trucks, electric vehicles, and owns even luxury brands like Jaguar and Land Rover, Tata Motors is the winner. It’s bigger, has a global presence, and is leading the way in electric mobility too.
But if you’re focused only on investing in companies involved in manufacturing of commercial vehicles like trucks and buses, Ashok Leyland can be a good investment option. It’s more specialised and reliable in the commercial vehicle segment.
However, it is necessary to conduct thorough research before investing in any of them. It is always recommended to consult a financial advisor before investing.
Tata Motors and Ashok Leyland have both created their unique brand image in both the Indian and global automotive industry. Tata Motors is known for its diverse product range, from ordinary cars to high-end electric models, while Ashok Leyland continues to stick to its core competencies, i.e. manufacturing trustworthy and reliable trucks and buses. Regardless of whether you focus on R&D capabilities, a global presence, or consistent financial performance; both companies have something to offer. It’s not about which is better overall, it’s about which one fits your investment objectives best. You are advised to consult a financial advisor before investing.
S.NO.
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Along with the automobile industry in India, the tyre sector is also growing rapidly, especially as the demand for electric vehicles and smart mobility solutions is increasing. In such a situation, it becomes important for investors to know which tyre company can prove to be a good investment in the long run.
Apollo Tyres Ltd. and Ceat Ltd. are both well-known companies in the Indian market, whose business operations are spread across the country and abroad. Their different business strategies, focus on technology and future direction make them different from each other.
In this blog, we will analyze both these companies in-depth including their business model, financial health, expansion plans and market performance to help you understand which company is a better investment option.
Company Overview – Apollo Tyres Ltd
Apollo Tyres Ltd. was established in 1972 and today it is counted among the leading tyre companies in India. The company’s headquarters is located in Gurugram, Haryana. Over the past five decades, Apollo has established a strong presence in the domestic market as well as the global market. Its growth can be gauged from the fact that its products are now sold in more than 100 countries.
Manufacturing and International Network : Apollo has several modern manufacturing facilities in India, such as plants located in Chennai, Limbda (Gujarat), and Andhra Pradesh. Apart from this, the company also has manufacturing units in the Netherlands and Hungary. Thus, this Indian company has now become a global tyre manufacturer. The company’s strong supply chain and technology innovation help it in its global competitiveness.
Product Portfolio and Segments : Apollo Tyres manufactures tyres for passenger cars, SUVs, trucks, buses, light commercial vehicles and two-wheelers. In India, it operates under the brand name “Apollo”, while in Europe it has its presence under the name “Vredestein”. The company maintains a balanced focus on mileage, performance, and safety.
Business Model and Partnerships : Apollo Tyres’ business model is based on three major channels – OEM (such as Tata, Mahindra, and Ashok Leyland), replacement market, and international exports. The company is also continuously working on tyres for EVs and high performance vehicles.
Apollo Tyres Ltd. has established itself as an innovative and globally competitive brand in the Indian automobile industry. Its strong manufacturing capabilities, international expansion, and product diversity allow it to grow even stronger in the years to come.
Company Overview – Ceat Ltd.
Ceat Ltd. was founded in 1958 with roots in Italy but was later established in India and is now part of the RPG Group. The company initially manufactured tyres for commercial vehicles but over time also started manufacturing tyres for two-wheelers, passenger vehicles, agricultural and industrial vehicles. Today, Ceat is among the top tyre companies in India and is constantly expanding its portfolio.
Global Positioning and Production Capacity : Ceat tyres operations are no longer limited to India. The company exports its products to over 110 countries. Its major manufacturing plants in India are located in Nashik, Halol, Nagpur and Chennai. In recent years, the company has prioritised EV tyre manufacturing at the Nagpur unit, reflecting its future-focused vision.
Key Businesses and Services : Ceat manufactures tyres across various segments such as two-wheelers, cars, SUVs, trucks, buses and three-wheelers. Apart from this, the company also designs tyres for farm equipment and off-road vehicles. The brand identity is based on the balance of mileage, safety and performance. The company actively operates in both OEM and replacement markets.
Business Model and Market Approach : Ceat sells its tyres through three main channels: OEM (to auto companies), replacement (to customers), and export. It is also a supplier to prominent automobile companies like Bajaj Auto, Hero MotoCorp, Tata Motors and Mahindra. The company is now focusing on tyre technology for EV vehicles as well.
Ceat Ltd. has built an image of a trusted tyre brand keeping in mind the needs of Indian roads and consumers. Its production capacity, investment in technology and diversified product range make it ready for future demands.
Target of $5 billion revenue and 15%+ EBITDA margin by FY26 : Apollo Tyres aims to achieve $5 billion (approximately ₹41,500 crores) revenue and over 15% EBITDA margin by FY 2025-26. For this, the company has focused on five key areas: sustainable growth, digitalization, technology innovation, human resource development, and brand building.
Target to use 40% sustainable materials by 2030 : Apollo Tyres has set a target to use 40% sustainable materials in its tyres by 2030. The company has recently developed tyres made from 75% sustainable materials, which are now in the testing phase.
Improving production efficiency through digital innovation centers : Apollo Tyres has set up digital innovation centers in Hyderabad and London, which are improving production efficiency using technologies such as AI, machine learning, IoT, and cloud computing.
Targeting $500 million sales in the US : Apollo Tyres is currently doing sales of $120-130 million in the US and plans to increase this to $500 million.
Ceat Ltd.
Target to double export revenue to ₹4,000 crore by FY26 : Ceat Ltd. aims to double its export revenue to ₹4,000 crore by FY 2025-26, with a special focus on expansion in the car and truck tyre segment.
Leading position in the EV two-wheeler tyre segment : Ceat Ltd. has partnered with companies like Ather Energy in the EV two-wheeler tyre segment, giving it a strong presence in EV segment.
Capital expenditure of ₹1,000 crore in FY25 : Ceat Ltd. has set aside ₹1,000 crore for capital expenditure in FY 25, focused on capacity expansion at its Chennai and Ambarnath plants.
₹72.67 crore investment for EPR compliance in FY24 : Ceat Ltd. has invested ₹72.67 crore in FY 2023-24 under EPR (Extended Producer Responsibility) compliance and introduced eco-friendly tyres.
Who is better: Apollo Tyres or Ceat Ltd.?
Apollo Tyres and Ceat Ltd.both have their own strengths. Apollo is currently focused on innovation, sustainability and international growth. The company is working rapidly on strengthening its foothold in the US and adopting the latest technology.
On the other hand, Ceat is focused on the EV tyre segment, where it is already a leading supplier to EV manufacturers Ather. Also, the company is preparing to double its exports and is also increasing production capacity.
Both companies are moving in slightly different directions, and are adopting different strategies to solidify their market position. It is hard to say which one is better and you must thoroughly analyze both companies or consult a financial advisor before investing.
Conclusion
Apollo Tyres and Ceat Ltd. have both established themselves as a strong player in the tyre industry in their own ways. Apollo is expanding itself in the international market, while Ceat is focusing on electric vehicles and exports. Each company has a different business strategy, however both are trying to gain a better foothold in the tyre market. It is advised to consult a financial advisor before investing.
S.NO.
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You may have come across Bajaj Finance and Bajaj Finserv if you have searched for loans, insurance or investment options on the internet. They both seem alike, belong to the same group and are commonly found in similar web searches, but they aren’t the same.
So what exactly is the difference, and if you’re a customer or an investor, which one should you be looking at?
In this blog, we’ll explain everything in a simple way about each company and which one might be a better fit for your portfolio. Whether you’re trying to understand whom to approach for a loan or deciding which stock to invest in, this guide is here to make it easy.
Bajaj Finserv – Company Overview
Bajaj Finserv Limited is one of India’s leading financial services companies. It operates across a wide range of financial segments, including:
Consumer finance (like personal loans, home loans, EMI cards offered through subsidiaries)
Insurance (life and general)
Asset management
Wealth management
Mutual funds
Digital payments and more
It’s known for its quick loan approvals, flexible EMIs, and strong digital presence that makes borrowing or investing super convenient for individuals and businesses alike.
The company has its headquarters in Pune, Maharashtra and was founded in 2007 and is currently headed by chairman, Sanjiv Bajaj. The parent group is the Bajaj Group, which was founded by Jamnalal Bajaj in 1926.
Important Milestones
From 2008 to 2012: Bajaj Finance grew rapidly by offering consumer durable loans on easy EMIs, one of the first of its kind in India.
From 2013 to 2017: Expanded into personal loans, business loans, and housing finance.
2018: Bajaj Finserv crossed major growth thresholds as loan disbursements increased substantially and the assets under management crossed ₹1 lakh crore, with a combined customer base of 25 million.
2020–2022: Entered the digital payments space and launched Bajaj Finserv Wallet, Bajaj Finserv Health, and focused on building a digital ecosystem.
2023: Announced foray into mutual funds under the Bajaj Finserv Mutual Fund brand.
Bajaj Finance – Company Overview
Bajaj Finance Limited is one of India’s top non-banking financial companies (NBFCs). It offers a wide range of financial products and services, including:
Consumer durable loans (like TVs, mobiles, appliances on EMI)
Personal loans
Home loans
Business loans
Credit cards
Fixed deposits and investment products
The brand is recognised for offering No Cost EMI on various products, including gadgets, furniture, travel, etc., which is readily available at many partner stores and online platforms.
The business is headquartered in Pune, Maharashtra and started operations as Bajaj Auto Finance Limited in 1987. Interestingly, Bajaj Finance is a subsidiary of Bajaj Finserv.
Important Milestones
In 2007, Bajaj Auto underwent a corporate demerger. Its financial services arm became a separate entity, Bajaj Finserv Limited, and Bajaj Auto Finance was rebranded as Bajaj Finance Limited.
Rajeev Jain was the CEO, marking the beginning of a significant transformation.
Focus shifted from just auto finance to consumer lending, SME lending, and commercial lending.
From 2010 to 2020
Introduced EMI cards, allowing customers to shop for electronics, furniture, and appliances on easy instalments.
Rapidly expanded into digital lending, e-commerce finance, and partnerships with retailers and brands.
Built a wide offline and online network, facilitating extremely fast and hassle-free loan disbursals.
From 2020–Present
Launched the Bajaj Finserv App for digital financial solutions.
Stepped into the digital payments ecosystem with digital wallets and co-branded credit cards.
Leveraged AI, data analytics, and cloud technology for personalised financial services.
Despite market challenges like COVID-19, it bounced back strongly with innovative financial products and digital-first strategies.
Comparative Study of Bajaj Finserv and Bajaj Finance
PARTICULARS
BAJAJ FINSERV
BAJAJ FINANCE
Current Price (₹)
1,956
8,945
Market Cap (₹ Crore)
3,12,532
5,55,868
52-W High (₹)
2,135
9,710
52-W Low (₹)
1,511
6,425
FII Holdings as of March 2025
7.19%
18.91%
DII Holdings as of March 2025
9.34%
17.42%
Book Value (₹)
453
1,556
PE Ratio (₹)
35.2
33.4
As of 6 June 2025
Financial Statements Comparison
PROFIT & LOSS STATEMENT
Particulars
BAJAJ FINSERV
BAJAJ FINANCE
Total Income
1,33,821
69,724
Expenses
85,782
22,892
Net Profit
17,539
16,761
(All values are in INR crores and the data is as of March 2025)
BALANCE SHEET
Particulars
BAJAJ FINSERV
BAJAJ FINANCE
Current Liabilities
5,16,745
3,66,042
Current Assets
6,41,639
4,60,437
Reserves & Surplus
72,235
96,568
(All values are in INR crores and the data is as of March 2025)
CASH FLOW STATEMENTS
Particulars
BAJAJ FINSERV
BAJAJ FINANCE
Cash Flow from Operating Activities
-62,113
-68,154
Cash Flow from Investing Activities
-7,986
-2,765
Cash Flow from Financing Activities
70,191
70,527
(All values are in INR crores and the data is as of March 2025)
Inference
Bajaj Finserv has about ₹1.3 Lakh crore in revenues, which also includes revenues from its stake in Bajaj Finance. This approach reduces dependence on lending alone and promotes a more balanced portfolio. On the contrary, Bajaj Finance reported an impressive profit of ₹16,761 crore. Additionally, the company’s AUM surged past ₹3 lakh crore.
You can base your investment decision based on the following points:
If you want to invest specifically in the lending business, go for Bajaj Finance.
If you want diversified exposure (loans, insurance, mutual funds, etc.), then Bajaj Finserv is a better long-term pick.
However, it is advised to analyse the company’s financial statements and future business plans before investing. You should also consult a financial advisor to make an informed investment decision.
Ultimately, Bajaj Finance and Bajaj Finserv are two sides of the same coin, closely connected, but established for different purposes. If you’re a customer looking for loans, EMIs, credit cards, or fixed deposits, Bajaj Finance is the brand you’ll be dealing with. It’s fast, efficient, and focused on direct financial services. But if you’re an investor thinking long-term and want a slice of the entire financial services, from lending to insurance to digital solutions, then Bajaj Finserv gives you a more diversified exposure as the parent company. So, the “better” company depends on what you’re looking for. Whichever company you choose, one thing’s for sure that both companies have established a strong reputation in India’s financial services industry.
S.NO.
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Are Bajaj Finance and Bajaj Finserv the same company?
No, they’re not the same, but they’re related. Bajaj Finance is a subsidiary of Bajaj Finserv.
Which company gives loans, Bajaj Finance or Bajaj Finserv?
Bajaj Finance offers loans, EMIs, credit cards, and deposits. Bajaj Finserv does not directly give loans.
Is Bajaj Finance safe for FDs?
Yes, Bajaj Finance has high credit ratings (CRISIL AAA/Stable & ICRA AAA/Stable), making it a reliable FD option.Q4. Which company has more profits?
Which company has more profits?
Bajaj Finserv has marginally higher profits than Bajaj Finance, but it must be taken into consideration that Bajaj Finance is the subsidiary of Bajaj Finserv due to which a proportion of profits earned by Bajaj Finance is also reflected in profits of Bajaj Finserv.
Is Bajaj Finserv a bank?
No! It’s a non-banking financial holding company. It owns stakes in other businesses dealing in finance, insurance, and wealth management.
CRED didn’t enter the fintech space with a product. It entered with the idea that good financial behavior deserves recognition. Launched in 2018, CRED quickly gained a reputation for being the best fintech platform for India’s top credit card users. It wasn’t just about paying bills, but about being part of a trusted community.
This CRED case study looks beyond the surface to understand what made a credit card payment app feel premium. With exclusive rewards and a members-only customer base, CRED built both loyalty and intrigue.
But how sustainable is it? What powers the CRED Business Model, and how does a rewards-first app justify its massive valuation? Let’s unpack the brand that turned financial discipline into social currency.
About CRED
CRED is a Bengaluru-based fintech platform founded by Kunal Shah in 2018. It is a platform that allows individuals with high-credit scores to get registered and make payments while earning rewards. The various services offered by CRED include:
CRED Cash+ (short-term credit against mutual funds)
CRED Pay (payments using CRED coin or saved credit cards)
CRED Mint (peer-to-peer lending)
Rent payments
Curated e-commerce section called CRED Store
The platform utilizes an AI-backed system to assess user’s credit behavior, verify eligibility, and tailor customized experiences. This technology enables CRED to maintain its premium user base. The platform also offers personalized suggestions, real-time tracking, and many more features.
With a strong focus on design, exclusivity, and community, CRED has become one of India’s most distinctive fintech brands. Its app offers not just utility, but an elevated financial experience for credit-savvy users who value rewards, simplicity, and trust.
CRED Valuation
In May 2025, CRED raised $75 million in a Series G funding round. Existing investors, including GIC, Sofina, and RTP Global led it. This round brought the company’s total funding to over $1 billion across nine rounds.
The current valuation is approximately $3.5 billion, a sharp drop from $6.4 billion in 2022. Additionally, the company plans to launch an initial public offering (IPO) in the near future.
CRED Key Statistics (As of FY 24)
Metric
Data
Revenue
₹2,473 crore
User Base
13 Million
Monthly Transacting Users (MTU)
11.5 Million, an increase of 34%
Total Payment Value (TPV)
₹6.87 lakh crore, which is a rise of 55%
Operating Losses
A fall of 41% to ₹609 crore
Customer Acquisition Cost (CAC)
Reduction of 40% approx.
Currently, the company continues to focus on expanding its user base and enhancing monetization strategies. This is why it is essential to understand the company’s performance; a complete SWOT analysis of CRED is essential.
CRED primarily follows a Business-to-Consumer (B2C) model. This model targets individuals with high credit scores who use credit cards. The platform incentivizes responsible financial behavior, such as when the user pays bills on time and earns rewards. To drive engagement, it focuses on gamification and personalized experiences.
Recently, CRED has expanded into some Business-to-Business (B2B) services. These are primarily focused on corporate expense management through its Happay platform, which CRED acquired in 2021 for $180 million. But still, its core revenue stream and growth comes from B2C only.
How Does CRED Work?
CRED functions as an invite-only platform. Typically, a 750 credit score is needed to get accepted. Once the app is downloaded, the credit score is checked at the backend. If the same is found satisfactory, the user is onboarded.
After onboarding, users can:
Pay Credit Card Bills: This is the primary feature. Users earn CRED coins on transactions.
Redeem Rewards: CRED coins can be used to claim exclusive offers and discounts on products from the CRED Store.
Access Financial Services: Users can access CRED Cash for instant credit, use CRED Mint for lending, and even pay rent via credit cards.
Monitor Your Credit Health: The app provides insights into your payment history. You can keep an eye on your credit card payments. CRED’s AI features help you track spend patterns and other card usage statistics with due date reminders on each payment.
The system is designed to reward responsible financial behavior while offering access to curated financial tools and premium benefits.
How Does CRED Earn?
CRED’s business model is designed to generate revenue from multiple sources. While the app is free for users, its monetization comes from options like:
Financial services
Brand partnerships
Platform-based tools
Others
If we dig in deeper, then here are the detailed revenue streams that CRED operates on:
1. Lending and Interest-Based Products
CRED earns revenue through CRED Cash, which offers short-term credit to users. It also facilitates peer-to-peer lending through CRED Mint, taking a service fee on interest earned.
2. Transaction and Processing Fees
Through features like RentPay, CRED allows users to pay rent using credit cards. A small convenience fee is charged on each transaction. Similarly, CRED Pay earns a merchant commission per successful order.
3. Brand Collaborations and Sponsored Content
Brands listed on the CRED Store pay for visibility through listing fees or commission on sales. Sponsored offers and reward placements also generate ad revenue.
4. Subscription Revenue from Businesses
After acquiring Happay, CRED now earns revenue by providing corporate expense management solutions for enterprises.
These revenue streams together fuel CRED’s long-term monetization strategy.
Marketing Strategy of CRED
CRED aims to position itself as not just a fintech platform, but one that helps people maintain good credit discipline. This is one of the reasons that its marketing strategies focus on keeping messaging simple, engaging, and interactive. Some of the notable marketing strategies of CRED are as follows:
1. Exclusivity & Premium Positioning
CRED targets high-credit-score individuals. It positions itself as an exclusive, aspirational platform. The brand’s slogan is “Not Everyone Gets It.” This reinforces a sense of privilege, making membership feel special and desirable.
2. Creative & Viral Advertising
The advertisements or creatives are mostly quirky. These ads are designed to entertain, spark conversation, and become cultural moments. This helps the brand stand out in a crowded fintech market. Additionally, it enables people to connect with the brand.
3. Influencer & Social Media Engagement
The brand collabs with celebrities, comedians, and influencers to amplify reach and credibility. Witty, on-trend content on platforms like Instagram, Twitter, and YouTube helps the CRED stay relevant among its user base.
4. Event-Based Campaigns
CRED runs major promotional campaigns. This is mainly during high-visibility events like the IPL. It uses contests and giveaways to drive user engagement and app downloads.
5. Gamification & Rewards
The CRED Coins rewards program incentivizes users to pay credit card bills through the app. This empowers repeated usage and loyalty with exclusive offers at times.
6. Educational Content
CRED also educates its niche audience about financial management through engaging content. This builds trust and positions CRED as a leader in personal finance applications.
Here are some notable advertisements by CRED that captured audience attention greatly.
Rahul Dravid – “Indiranagar ka Gunda” (IPL 2021)
This ad became a cultural phenomenon. It featured the usually calm cricketer Rahul Dravid losing his temper in traffic and declaring himself “Indiranagar ka Gunda.” This unexpected portrayal instantly went viral, sparking widespread discussion on social media.
Bollywood Auditions (2020)
This was an ad featuring celebrities like Anil Kapoor, Madhuri Dixit, and Govinda. All of them were auditioning for a CRED commercial. The theme was poking fun at themselves and the idea of celebrity endorsements. The self-deprecating humor and unexpected scenarios resonated with viewers. This helps in setting CRED apart from conventional fintech advertising.
CRED’s monthly active user (MAU) base reached 13 million in November 2022. It has maintained a steady customer base of 13 million for 16 consecutive months, up to early 2024.
By FY24, some reports estimated the total user base at 16 million. This reflects a year-on-year growth of about 58%. However, new user growth has remained stagnant for a while now.
The average monthly transacting user performs around 20 sessions per month.
CRED’s share in UPI transaction volume doubled from 0.5% to 1% between April 2023 and March 2024. Its share by value increased from 1.5% to 2.3% in the same period.
As of March 2025, CRED processed 144 million UPI transactions. These transactions are worth ₹55,000 crore. It is now ranking seventh in UPI transaction volume in India.
Financial Performance
Revenue rose sharply from ₹422 crore in FY22 to approximately ₹1,500 crore in FY23. It further increased to ₹2,473 crore in FY24.
Operating losses went from ₹1,024 crore in FY23 to ₹609 crore in FY24. This was mainly due to reduced marketing and customer acquisition costs.
Net losses increased modestly, from ₹1,347 crore in FY23 to ₹1,644 crore in FY24.
CRED reduced its customer acquisition cost by approximately 80% over 4 years. It also achieved a 27% reduction in marketing expenses in FY23.
Cash reserves stood at around ₹2,050 crore in FY23. This provides a runway for continued operations and growth.
Other Key Metrics
The average value of UPI transactions on CRED declined from ₹13,000 in January 2022 to ₹3,400 in March 2024. This is mainly due to the platform diversifying into smaller merchant and utility payments.
CRED’s product expansion has increased cross-selling opportunities, although the core user base remains stable.
Major Achievements of CRED
CRED has been able to stand out due to its persistent efforts and strategic approach. Some of the major achievements of CRED that you must know are as follows:
Rapid Revenue Growth: CRED’s revenue surged by 66% to ₹2,473 crore in FY24. It is estimated to reach around ₹3,000 crore in FY25, reflecting strong financial momentum.
Large and Engaged User Base: By June 2024, CRED reported 13 million monthly active users and processed 144 million UPI transactions worth ₹55,000 crore in March 2025. This makes it the seventh-largest UPI payment app in India.
Product Diversification: CRED evolved from a credit card bill payment platform into a financial super app. It is now offering UPI payments, utility billing, vehicle management, travel, wealth management, and loans against mutual funds.
Strategic Acquisitions: The company expanded its portfolio by acquiring platforms like Happay (expense management), CreditVidya (lending), Spenny (investments), and Kuvera (wealth management).
Strong Funding and Valuation Milestones: CRED became a unicorn within three years. It has raised over $1 billion from global investors. Also, despite a recent valuation reset to $3.5–$4 billion, it remains one of India’s most valuable fintech startups.
Now that you have all the basic details for CRED, let us complete a detailed SWOT analysis for better understanding. So, here are the things that you must know:
Strengths
Unique value proposition: CRED incentivizes timely credit card bill payments with rewards. This fosters financial discipline and strong user engagement through gamification and exclusive offers.
Strong brand identity and reputation: CRED is a premium and aspirational brand and is recognized for its innovative marketing strategies. It has created partnerships with leading brands.
Loyal and affluent user base: The platform attracts high-credit-score users. This makes it appealing for premium partnerships and targeted financial products.
Weaknesses
Limited user base: CRED primarily serves credit card holders. This excludes a large segment of the Indian population that doesn’t use credit cards.
High dependence on rewards: User engagement is heavily tied to the attractiveness of rewards. So, if these diminish, user retention could suffer.
Profitability challenges: Despite strong revenue growth, CRED remains loss-making, with high operational and marketing costs.
Opportunities
Service and market expansion: CRED can diversify into personal loans, insurance, investments, and target non-credit card users (e.g., UPI, debit card holders).
Data-driven personalization: Leveraging big data analytics and AI can enhance user experience and retention.
Partnershipsandinternationalexpansion: It can collaborate with e-commerce platforms and explore new geographies, unlocking new growth avenues.
Threats
Intense competition: The fintech landscape is crowded, with new entrants and established players constantly trying to increase their market share.
Regulatory risks: Changes in digital payments or credit card regulations could impact operations and growth.
User fatigue: Over-reliance on rewards and gamification can lead to declining engagement as the novelty wears off.
CRED has transformed how creditworthy users manage their finances in India. By blending design, exclusivity, and financial tools, it has built a brand that feels aspirational yet useful. Its journey from bill payments to a full-fledged fintech platform reflects smart product offerings and bold marketing.
While profitability remains a challenge, strong revenue growth and product expansion indicate long-term promise. With IPO plans ahead, CRED’s next phase will test its ability to scale sustainably. Its story offers a clear example of how user trust, community, and consistency can shape success in the fintech space.
S.NO.
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CRED is a fintech company that rewards users for paying credit card bills and offers lending, investment, and premium financial services.
Who can join CRED?
Only users with a credit score above 750 can join CRED, making it an exclusive platform for financially responsible individuals.
How does CRED make money?
CRED earns from lending, transaction fees, brand listings, financial product commissions, and B2B services.
Is CRED profitable?
Not yet. CRED has reduced losses and increased revenue. Yet, it is still working toward long-term profitability and financial stability.
What makes CRED different from other fintech apps?
CRED offers exclusive rewards and financial tools to users with high-credit scores, thereby promoting responsible financial behavior, making it different from other apps that promote discretionary spending.
Haldirams is India’s most popular snack brand today, which started in Bikaner in 1937. Due to the traditional taste and quality, this brand gradually spread across the country and today it has made its mark at the international level as well.
In this case study, we will learn about Haldirams’ business model, marketing strategy and do financial analysis and SWOT analysis on how this brand achieved such a great position on its own.
Haldiram’s: An Overview
Haldirams started in 1937 from a small snacks shop in Bikaner, Rajasthan, founded by Ganga Bhishan Agarwal, fondly called ‘Haldiram Ji’. He introduced Bhujia with a unique taste and crunchiness, which soon became popular among the people.
Over time, Haldirams expanded its business and set up its production plants in cities like Kolkata, Nagpur, and Delhi. Today, the company is headquartered in Noida, Uttar Pradesh.
Haldirams has a product portfolio of over 400 items, including snacks, sweets, frozen foods, ready-to-eat meals, bakery items and beverages. Some of the major products are:
Aloo Bhujia, Moong Dal, Chana Chur
Gulab Jamun, Rasgulla, Sohan Papdi
Ready-to-Eat Curries, Biryani, Paratha
Cookies, Biscuits, Fruit Juices
The company has also taken its products internationally and today it exports its products to more than 100 countries, including the US, UK, UAE, Australia and Canada. Haldirams aims to take the Indian taste to the global audience. The secret of the company’s success lies in its quality, traditional taste and innovation. Haldirams has proved that if quality and consumer preference is taken care of in the product, then even a small business can become a global brand.
Haldirams has adapted its business model over time to suit the ever-changing needs of consumers. It is not just a brand, but the result of a well-planned strategy in which every step has been taken thoughtfully.
Product Diversity and Innovation: Haldirams has always maintained diversity in the product range. Along with traditional namkeen and mithai, the brand is now also focusing on bakery, instant meals, health snacks and other items. Products like millet-based and low-oil snacks have also been included in view of the demand of the health-conscious customers.
Distribution strength: Haldirams’ reach is not limited to just grocery stores. It now extends to malls, cafe style outlets, online marketplaces and airport food courts. The company has started reaching out to new consumers through its website and quick delivery platforms (such as Swiggy Instamart and Zepto).
Revenue Sources
FMCG Retail: Packaged snacks and sweets have high demand.
QSR and Dining: Haldirams also caters to its customers through its restaurants and outlets.
International Trade: The company now exports its products to 100+ countries.
Investments in Operations and Technology: Haldirams has set up modern factories in multiple locations with automated production lines, food safety protocols and IoT-based quality tracking. Along with this, the company is starting a new plant in Bihta, Bihar to meet the demand of Eastern India.
Franchise Model and Global Mindset: The company’s expansion model is completely based on B2B and franchise partnerships, which makes it easy to enter new cities and countries at low-cost. Haldirams makes products according to local taste in each market, which allows it to take the taste of Indian snacks global.
Financial moves and brand value: In March 2025, Singapore-based Temasek agreed to buy nearly 10% of Haldiram’s for around $1 billion, putting the brand’s valuation close to $10 billion. It clearly shows how much international investors value and trust the Haldiram brand.
Haldirams’ business model is a powerful combination of traditional values and modern mindset, which has made it a household name not only in India but across the world.
Haldirams never relied on heavy ad campaigns. Their focus was always on letting the product speak, not promotions. But as the market changed, they adapted their strategy with the times without losing their original identity.
Low Cost Branding Campaigns: Initially, Haldirams relied more on in-store presence and word-of-mouth than TV advertising. Branded displays in stores, attractive packaging, and taste that speaks for itself — these were their first promotions. Their customer relationship was so strong that the brand spread on its own.
Smart Social Media approach: Now Haldirams is also quite active on social media, but not over-promotional. They share short reels, recipe ideas and creative content related to festivals on platforms like Instagram and YouTube. Their focus is on connecting with real people, not with flashy ads, but relatable stories.
Targeted campaigns and regional connect: They don’t run the same campaigns everywhere. In South India, their campaigns are localised and connect with their local customers. Their way of linking their product with the local culture during festivals is very natural and effective.
Direct connection with the customer: Haldirams responds to customer comments on social media, takes feedback and incorporates it in new products. Also, with offers like attractive discounts, buy-one-get-one and limited edition packs during festivals, they keep people engaged without trying to sell forcefully.
Haldirams’ marketing strategy is more relatable and down to earth than flashy or trendy. They not only maintain their product quality and taste, but also their place in people’s hearts and that’s their real win.
Financial Analysis of Haldiram
1. Financial Performance
Below is a summary of Haldirams’ financial performance:
Financial Metric
FY 2024
Revenue (₹ Crore)
12,800
Net Profit (₹ Crore)
1,400
FY 2024 metrics were widely reported and financial data of previous years is not publicly available as it is a private company.
2. Investment and expansion plans
Following Temasek’s investment, Alpha Wave Global and Abu Dhabi’s International Holding Company (IHC) have also invested in Haldirams. The investment will support the company’s expansion plans in international markets such as the US, Middle East and the UK.
3. Market position:
Haldirams holds around 13% of the Indian snacks market, making it a leader in the sector.
4. Future strategy
Merger of entities: The Delhi and Nagpur-based entities are being merged, which will bring uniformity in operations and increase the possibility of an IPO in the future.
IPO preparation: Haldirams may move towards a public listing in the near future, which is likely to raise capital and increase brand value.
New product segments: The company is also focusing on healthy snacks, millet-based foods and gluten-free products to keep pace with changing consumer trends.
Haldirams’ business model looks simple, but it is backed by a strong strategy and a keen understanding of the market. Below we will look at their strengths, where there is scope for improvement, and what they need to keep in mind going forward:
Strengths
Strong Brand Image: Haldirams’ name is associated with taste and trust. The brand value they have built over decades is their biggest strength today.
Diverse product range: From sweets to snacks, instant foods and healthy options – there is something for every age and taste.
Wide network: Haldiram’s products are easily available from big cities to small towns, and now even in the US and Europe.
Weaknesses
Low presence in South India: The company has a strong customer base in North and West India, but its reach in South India is still limited.
Low visibility in media: Haldirams’ marketing is still a little quiet. While other brands are running high-visibility campaigns, Haldirams mostly adopts a conservative approach.
Opportunities
Growing demand for healthy food: People are now moving towards healthy snacks and Haldiram’s can expand business operations rapidly in this category.
Expansion in foreign markets: There is a lot of demand for Indian snacks in foreign markets. If Haldirams launches some new variants according to the local taste preferences there, then there is a huge opportunity.
Threats
Growing competition: New brands are coming in the FMCG sector every year. Moreover, established players like Bikanervala, ITC, and Britannia are now competing directly with Haldiram.
Changing customer preferences: Today’s customers are not only looking for taste, but also health and innovation. Haldirams needs to experiment a little with its traditional image.
Haldirams has a strong customer base, but with time they need to work on their weak points and adopt new market trends. If they take the right decisions on healthy food, innovation and regional strategy in time, then they will remain on top of the Indian snack industry in the coming years.
The story of Haldirams is an inspiring journey from a small namkeen store to becoming a global brand. By combining traditional taste with modern packaging and innovative thinking, it has won the trust of crores of people in India and abroad. Its business model which includes a diversified product line, strong distribution and smart marketing makes its business operations sustainable. Even in the rapidly changing food industry, Haldirams has constantly upgraded itself, which proves its resilience and foresight.
S.NO.
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When it comes to investing, investors look for government-owned companies operating in industries which have high growth potential. Their performance is directly linked to government spending. Bharat Heavy Electricals Limited and Bharat Electronics Limited are two major entities operating in different sectors to cater to the demand for equipment used in power, infrastructure, and the defence sector.
In this blog, we will provide you with a comparison between BHEL and BEL, and based on such a comparison help you determine which stock is suitable for you.
Overview of BHEL Stock
In 1956, a company named Heavy Electricals (India) Limited was established with an aim to manufacture heavy electrical equipment in India. The first plant was set up in Bhopal. Considering the high demand for heavy electrical equipment, it was decided to set up three additional plants and to manage them, BHEL was formed. BHEL or Bharat Heavy Electricals Limited, established in 1964, is a state-owned enterprise primarily manufacturing equipment for the power and transmission sector. BHEL was merged with Heavy Electricals (India) Limited in 1974. BHEL has executed various projects across 76 countries. The company has 16 manufacturing plants, spread across the country, and 2 repair units. The company is the sole supplier of nuclear turbines in India. In recent years, it has expanded in the renewable energy sector. The company’s headquarters are situated in New Delhi.
Product Portfolio
BHEL is one of the largest manufacturers of power plant equipment. The product portfolio of BHEL includes the following:
Equipment for Thermal Power Plants: It manufactures boilers, steam turbines, boiler feed pumps, etc.
Equipment for Hydro Power Plant: Hydro Turbines, Hydro Generators, etc.
Equipment for Gas-based Power Plants: Gas Turbines are manufactured by BHEL for this segment.
Equipment for Nuclear Power Plants: BHEL is the only company in India that manufactures steam generators, reactors and control equipment for nuclear plants.
Other Sector: It also manufactures various industrial equipment such as high voltage transformers, electric motors, traction motors, etc.
Overview of BEL Stock
Bharat Electronics Limited was founded in 1954 as a public sector undertaking, under the Ministry of Defence. The company is primarily engaged in providing electronic equipment for the Indian armed forces. The company has been given the status of Navratna by the Government of India. Its wide range of products includes communication devices, electronic warfare systems, night vision devices, etc. The company exported defense equipment worth $2.63 billion in FY2024, an increase of 32.5% over the past year. The company is also active in the non-defense segment and manufactures key components for railways, metro, civil aviation, antennas, etc. Its headquarters are situated in Bangalore.
Product Portfolio
The product portfolio of Bharat Electronics Limited is as follows:
Defence Related Products: It manufactures various defence-related products such as radars, missile systems, communication devices, jammers, naval systems, avionics, etc.
Non-Defence Related Products: It manufactures crucial components and equipment such as antennas, jammers, solar energy solutions, signalling systems for the transport sector, cyber security solutions, etc.
Inference: Based on the returns mentioned in the table above, we can conclude that BEL has posted higher returns than BHEL on each timeframe whether it is long term or short term.
Income Statement Comparison
Particulars
BHEL
BEL
Total Revenue
28,804
24,511
Total Expenses
27,369
17,402
Profit After Tax
474
5,287
(As of March 2025)
Inference: Bharat Heavy Electricals Limited has recorded higher revenue than BEL for FY 2025, however, BHEL has incurred relatively higher expenses, therefore its Profit After Tax is lower than BEL’s Profit.
Balance Sheet Comparison
Particulars
BHEL
BEL
Total Assets
68,083
40,831
Current Liabilities
28,225
19,752
Other Liabilities
15,135
1,105
Reserves & Surplus
24,025
19,242
(As of March 2025)
Inference: The above table indicates that BHEL has higher assets than BEL, however, it also has higher liabilities.
Cash Flow Statement
Particulars
BHEL
BEL
Cash Flow from Operating Activities
2,191
586
Cash Flow from Investing Activities
-2,730
616
Cash Flow from Financing Activities
-856
-1,696
(As of March 2025)
Inference: BHEL has a high cash flow from operating activities, but has a significantly negative investing cash flow as compared to BEL.
Inference: The comparison of key performance ratios indicates that BEL has significantly better profit margins and other return metrics compared to BHEL.
Shareholding Pattern
Particulars
BHEL
BEL
Promoter (%)
63.17
51.14
FII (%)
7.19
17.56
DII (%)
16.35
20.88
Others (%)
1.52
1.1
(As of 31 March 2025)
Inference: FIIS holds a significant stake of around 17% in BEL, whereas in BHEL, promoters hold 63.17%, which is comparatively higher than BEL.
Which Stock is Better?
Identifying which stock is better between Bharat Electronics Limited and Bharat Heavy Electricals Limited is difficult if you do not know your investment objective and risk profile. Both are public sector undertakings (PSU), yet they have different, distinct characteristics. BHEL is primarily operating in the power and energy sector and provides a wide range of equipment for thermal, hydro, gas, and nuclear power plants, in addition to defence equipment, and transport sectors.
On the other hand, BEL primarily operates in the defence sector and manufactures defense equipment like radars, missile systems, warfare technologies, and communication systems. BHEL has higher revenue compared to BEL, but has posted comparatively less profit. A detailed fundamental analysis of both companies is required before making an informed decision. Moreover, the investor’s risk tolerance and investment goal will determine which stock is ideal and it is advised to consult a financial advisor before investing.
On a concluding note, despite being well-known government-owned companies with important roles in India’s defence and infrastructure sector, they differ significantly in performance and future outlook. BEL focuses more on defence-related equipment, and is a debt-free company with higher profit margins, whereas BHEL operates in a more capital-intensive industry. Performance of both depends on the budget allocation announced towards power, infrastructure and defence sector. Both of them offer a great investment opportunity for investors, yet carry certain risks. Therefore, it is advisable to consult with your financial advisor before making any investment decision.
One can easily invest in both the shares using Pocketful’s advanced trading application without paying any brokerage on equity delivery. So open a free demat account with us now.
Frequently Asked Questions (FAQS)
Who is the current CEO of BHEL?
As of 22 May 2025, Mr. Koppu Sadashiv Murthy is the chairman and managing director of Bharat Heavy Electricals Limited (BHEL).
Which stock is suitable for long-term investment, BHEL or BEL?
BEL has better KPI metrics than BHEL along with a higher market capitalization, but investing in either of them requires thorough research.
Which is the best company between BHEL and BEL?
Based on past returns, market capitalisation and profit margins, etc. Bharat Electronics Limited is a better company to invest in when compared with BHEL. However, investment in either of them requires careful analysis of their financial performance and investors risk profile for which you should consult a financial advisor.
Is BHEL a government company?
Yes, Bharat Heavy Electricals Limited is a central government company. As of 31 March 2025, the central government holds around 63.17% stakes in this company.
Is BEL a large-cap company?
Yes, as of 22 May 2025, the market capitalization of Bharat Electronics Limited stood around 2,80,220 crores, and it belongs to the large-cap category.
When e-commerce in India meant big brands like Amazon or Flipkart, Meesho chose a different path: social commerce. It is a platform that gives small towns, homemakers and small traders an opportunity to do business online without stock, without capital. Started in 2015, Meesho has become India’s fastest-growing social commerce brand today with over 170 million users. Its zero-commission model connects new entrepreneurs to the mainstream of digital India. In this case study, we will learn Meesho’s business model, marketing strategy, financial statistics, and SWOT analysis.
About Meesho Company
Meesho is an Indian e-commerce platform founded in 2015 by Vidit Aatrey and Sanjay Barnwal. The Bengaluru-based company operates under Fashnear Technologies Pvt. Ltd.
Meesho aims to provide India’s small merchants, especially women and housewives, an opportunity to do business online without any investment. The platform enables the sale of products through social media channels such as WhatsApp, Facebook, Instagram.
Meesho Key Statistics (As of 2025)
Metric
Data
Annual Transacting Users
Approximately 187 million unique users as of December 2024
Total Orders (Apr–Dec 2024)
Around 1.3 billion orders placed
Active Sellers
Over 400,000 annual transacting sellers
Revenue (FY24)
₹7,615 crore (~$917 million), a 36% YoY growth
Operating Cash Flow (FY24)
Positive ₹232 crore (~$28 million)
Website Traffic (March 2025)
Approximately 38.5 million visits
Business Model of Meesho
Meesho has reinvented the traditional model of e-commerce in India. While platforms like Amazon and Flipkart connect customers and brands directly (B2C model), Meesho’s model is more democratic and society-centric; it is called the C2C (Consumer to Consumer) or Social Commerce model.
How Does Meesho Work?
Reseller-based model: Anyone (especially women and small merchants) chooses products from the Meesho app and shares them on social media like WhatsApp, Facebook or Instagram. When a customer places an order, Meesho delivers the product directly to the customer. The reseller neither has to maintain stock nor worry about delivery—this is called the inventory-light model.
Zero-commission policy: Meesho does not charge any commission to sellers, making it affordable for small merchants and new entrepreneurs.
How Does Meesho Earn?
Logistics and shipping charges: Meesho charges sellers for delivery and keeps a portion of it.
Advertising services: Sellers can run ads on Meesho to promote their products to more customers, which earns Meesho revenue.
Float income: Meesho holds the amount received from customers for a few days before paying the sellers, earning interest.
Meesho has further strengthened its marketing strategy in 2025 by adopting new ways to connect with consumers on both digital and regional levels.
Meesho’s Marketing Strategy (2025): An Innovative Approach for Digital India Meesho has further strengthened its marketing strategy in 2025 by adopting new ways to connect with consumers at both the digital and regional levels.
WhatsApp & Social Media: Rather than big campaigns, Meesho empowered everyday users to be brand ambassadors. Using WhatsApp, Facebook, and Instagram, resellers shared products with their own network, making the shopping experience personal, familiar, and direct
Referral and reseller-based user acquisition: Meesho has successfully added new users through its referral programs. Users will add friends and family to the platform, thereby increasing the user base.
Regional Content and Advertising in Local Languages: Meesho has strengthened its hold in local markets by presenting ads and content in various Indian languages. This strategy has been particularly effective in regions where English penetration is limited.
Influencer and Meme Marketing: Meesho has partnered with a variety of influencers, including micro and macro influencers. Additionally, the brand recognition among young consumers has increased by using memes and trending content.
IPL 2025 Campaign: ‘Apna Cricket Adda’: Meesho launched the ‘Apna Cricket Adda’ campaign during IPL 2025, an effort to unite small businesses and shops during the cricket season.
Financial analysis of Meesho
Financial Metrics
FY 2024
FY 2023
FY 2022
Revenue (₹ Crores)
₹7,615
₹5,735
₹3,240
Net Profit/Loss (₹ Crores)
₹53 (Adjusted Net Loss)
₹1,569 (Adjusted Net Loss)
₹3,248 (Net Loss)
Orders and User Growth:
Meesho fulfilled around 1.34 billion orders in FY24, up 30% from the previous year.
As of April 2025, the company has over 187 million users, that is, one in nine Indians has shopped on Meesho.
Funding and Valuation:
So far, Meesho has raised a total of $1.36 billion in funding.
The company raised $270 million in fresh funding in 2025 and its valuation is now close to $4 billion.
Gross Merchandise Value (GMV) and Logistics:
Meesho’s GMV run rate in FY25 has reached $6.2 billion.
Valmo, its logistics service, now delivers more than half of the orders itself.
Some of the major achievements of Meesho are listed below:
Women got a new identity: Meesho is not just a shopping app, but has become a new opportunity for millions of women. So far, about 30 lakh women have started their own small business by joining this platform. The special thing is that many of these women never used to earn anything before – today they are earning from their home, through their phone. This change is not just economic, it is a strong step towards self-reliance.
App downloads and rapidly growing user base: Meesho’s app has been downloaded more than 50 crore (500 million) times so far, which makes it one of the most used ecommerce platforms in the country. The special thing is that most of its users are from Tier 2 and Tier 3 cities – that is, Meesho has reached the real heart of India.
Huge number of active customers: By the end of 2024, the number of users who shopped on Meesho in a year had crossed 187 million. If we look at the population of India, every eighth person has bought something from Meesho. Such a large number clearly shows that Meesho has now become a well-known name even in small cities and towns.
Strong network of Vendors and Sellers: More than 11 lakh sellers are associated with Meesho. About 80% of these people are starting to sell online for the first time. Meesho has connected these small businessmen directly to Digital India, without any shop or big capital. This is the reason why this platform is spreading rapidly in rural and semi-urban areas of India.
These achievements of Meesho are not just statistics – they are part of the change that is making every household a part of Digital India. Whether it is women empowerment, small shopkeepers or the growing trust in online shopping across the country, Meesho has made its mark on every front.
SWOT Analysis of Meesho
Strengths
Simple model of social commerce: Meesho has given thousands of small merchants and housewives the opportunity to start an online shop without any major investment using platforms like WhatsApp, Facebook, and Instagram.
Seller network spread across every city: More than 11 lakh sellers are associated with Meesho in more than 5,000 cities of India, giving the brand reach to remote areas.
Diverse product range: From fashion to electronics and household products Meesho offers a lot of options in every category, which forces customers to come back again and again.
User-friendly app interface: Its mobile application is so simple to use that even a first-time online shopper can easily use it.
Weaknesses
Quality imbalance: Due to supply of goods from different sellers, the quality of the products is not the same every time, which increases customer complaints.
Delivery and logistics problems: Problems like not getting timely delivery and delay in return pickup are common in small towns and villages.
Limitations of brand identity: Meesho’s identity is still not that strong in front of ecommerce giants like Flipkart and Amazon.
Dependence on only one country: Meesho is currently completely dependent on the Indian market, due to which international expansion remains a challenge.
Opportunities
Opportunity to expand in new countries: Meesho can easily implement its business model in markets like South Asia, Africa, and Latin America, where social commerce is still new.
Investment in AI and technology: With tools like artificial intelligence and machine learning, Meesho can further improve its user experience.
Entry into new categories: By entering areas like grocery, healthcare and digital services, Meesho can increase its revenue and user base.
Eco-friendly initiatives: By focusing on sustainable packaging and eco-friendly products, Meesho can create an image of a responsible brand.
Threats
Tough competition: The competition from other platforms like Flipkart, Amazon’s GlowRoad forces Meesho to update its strategy frequently.
Changes in government regulations: Changes in laws or data policies related to e-commerce can affect Meesho’s operations.
Effect of economic instability: If a recession-like situation occurs in the country, customers may reduce spending, which affects sales.
Cybersecurity threat: Being a digital platform, there is always a risk of data theft or cyber attack.
Meesho has given a new direction to social commerce by making it popular in India. Now it needs to strengthen its existing model, invest in technology and also enter the international level by increasing the brand value.
Meesho has set a new benchmark in the field of social commerce in India. In just a few years, it has moved away from the traditional e-commerce model and created a platform where millions of women and small sellers are able to run their online business without capital investment. By 2024, the company has significantly increased its revenue and has also succeeded in reducing losses.
Going forward, Meesho’s focus will be on improving technology, customer experience and logistics. Meesho can be seen as a role model for upcoming companies in emerging markets, especially where small businesses need digital support.
S.NO.
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When it comes to giving our homes a fresh new look, Asian Paints and Berger Paints are usually the first names that come to mind. They’re not just paint companies; instead, they’re part of almost every Indian household’s renovation story.
But have you ever wondered how these two giants compare when it comes to business performance, product range, and market presence? While both offer vibrant colours and reliable quality, their journeys, strategies, and financials tell very different stories.
In this blog, we’re exploring a head-to-head comparison of Asian Paints and Berger Paints, looking at everything from history and financials to innovation and customer appeal. Whether you’re a curious homeowner, a student, or an investor, you’ll find some colourful insights here!
Asian Paints – Company Overview
Asian Paints isn’t just the biggest paint brand in India; it’s one of the most loved too. If you’ve ever thought about giving your walls a fresh coat or revamping your space, chances are you’ve come across their bold colours, smooth finishes, or that memorable line: “Har Ghar Kuch Kehta Hai.”
But there’s more to Asian Paints than just paint. Over the years, they’ve stepped into the world of home decor and design, offering everything from wallpapers and textured finishes to bathroom fittings and modular kitchens through their Sleek and Ess Ess brands.
History
It all started in 1942, in the middle of World War II, when four friends, Champaklal Choksey, Chimanlal Choksi, Suryakant Dani, and Arvind Vakil, decided to start a small paint company in Mumbai.
At a time when big foreign companies dominated the market, Asian Paints quickly stood out for its affordable pricing and strong dealer network.
During the 1950s, Asian Paints launched Gattu, which became their signature character and was designed by R. K. Laxman to make paint advertising engaging for Indian households.
Asian Paints became a market leader as it established itself with the help of innovative strategies and powerful branding alongside an extensive collection of paint finishes.
Asian Paints now operates as a global corporation that maintains production facilities in more than 25 locations across Asia and the Middle East while serving clients in over 15 countries.
Berger Paints India Ltd. is one of India’s most trusted paint manufacturers. Berger Paints stands out as a familiar household brand for wall paints, wood coatings, waterproofing solutions, and industrial finishing products.
They offer everything from simple whitewash options to high-end designer textures and eco-friendly paints. Whether you’re a homeowner, an interior designer, or a builder, Berger has something in its catalogue for everyone.
History
Started in 1760 in the UK by Lewis Berger, who originally made pigments for artists.
In 1923, a paint company named Hadfield’s (India) Ltd. was established, which was acquired by Berger in 1947 and renamed to British Paints (India) Ltd., marking the entry of Berger Paints in India.
The company changed hands a few times before becoming Berger Paints India Ltd., with its headquarters in Kolkata.
It was eventually acquired by the Dhingra family, who still run the business today.
Over the years, Berger has expanded both in India and internationally, with manufacturing units, R&D centres, and a growing presence in countries like Nepal, Bangladesh, and Poland.
Comparative Study of Asian and Berger Paints
Particulars
Asian Paints
Berger Paints
Current Price (₹)
2,352
574
Market Cap (₹ Crores)
2,25,594
66,957
52-W High (₹)
3,395
630
52-W Low (₹)
2,125
438
FII Holdings as of March 2025
12.22%
5.75%
DII Holdings (as of March 2025)
15.58%
10.11%
Book Value (₹)
202
52.8
PE Ratio
57.4
56.7
(Data as of 16 May 2025)
Financial Statements Comparison of Asian and Berger Paints
Profit & Loss Statement Comparison
Particulars
Asian Paints
Berger Paints
Total Income
36,182
11,262
Total Expenses
28,762
9,668
Net Profit
5,424
1,128
(All values are in INR crores and the data is as of March 2024)
Balance Sheet Comparison
Particulars
Asian Paints
Berger Paints
Current Liabilities
8,500
2,362
Current Assets
17,537
4,318
Reserves & Surplus
18,632
5,262
(All values are in INR crores and the data is as of March 2024)
Cash Flow Statement Comparison
Particulars
Asian Paints
Berger Paints
Cash Flow from Operating Activities
6,103
1,591
Cash Flow from Investing Activities
-2,517
-398
Cash Flow from Financing Activities
-2,982
-1,068
(All values are in INR crores and the data is as of March 2024)
Inference
Asian Paints is the market leader as it brings in nearly 3x the revenue and over 5x the profit of Berger Paints.
Berger Paints, though smaller, is still a strong No. 2 in India’s paint industry and has been growing steadily year after year.
Asian Paints has a slightly better profit margin, which shows its efficiency and pricing power.
Both companies have solid pan-India and international presence, but Asian Paints leads in scale, innovation, and diversification.
Key Performance Indicators (KPIs)
Particulars
Asian Paints
Berger Paints
Basic EPS (₹)
56.95
10.02
Operating Profit Margin (%)
20.90
14.23
Net Profit Margin (%)
15.28
10.07
Return on Equity (%)
29.15
21.7
Return on Capital Employed (%)
34.63
26.54
Debt-to-Equity (x)
0.06
0.04
(Data as of March 2024)
Which Company Is Better?
It depends on what you’re looking for.
If we’re talking about scale, innovation, and brand power, Asian Paints is the winner. It’s bigger and more diversified and has built a strong emotional connection with Indian homeowners over the years.
But that doesn’t mean Berger Paints is far behind. It’s a strong, fast-growing player that holds a significant market share, especially in certain regions and categories. It’s more focused, lean, and steadily expanding.
So, while Asian Paints leads the race overall, Berger Paints is worth keeping an eye on.
When it comes to choosing between Asian Paints and Berger Paints, there’s no one-size-fits-all answer. Asian Paints leads the paint industry in innovation and has a strong brand presence. But Berger Paints has carved out its own space, growing steadily.
Whether you’re picking a reliable paint for your home or comparing the two as an investor, both brands bring something valuable to the table. Think of Asian Paints as the seasoned pro and Berger as the agile challenger—each with its own strengths.
In the end, it’s all about what matters most to you: consistency and scale, or potential and momentum. Investors are encouraged to carefully assess their investment goals and risk tolerance, and conduct thorough research, preferably with the guidance of a financial advisor, before considering an investment in Asian Paints or Berger Paints.
Frequently Asked Questions (FAQs)
Which company is bigger in terms of revenue, profits, etc.: Asian Paints or Berger Paints?
Ans. Asian Paints is the clear leader in terms of revenue, market share, and brand presence as compared to Berger Paints.
Who is the owner of Berger Paints (India)?
Ans. Berger Paints (India) is owned by the Dhingra brothers, Kuldip Singh Dhingra and Gurbachan Singh Dhingra.
Which paint brand has better profit margins?
Asian Paints generally has slightly higher profit and operating margins than Berger Paints.
Is Berger Paints a good brand?
Definitely. Berger is the second-largest paint company in India and is trusted by millions.
Who has a larger market share?
Asian Paints holds over 50% of India’s paint market, while Berger has a total market share of 20%.
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