Crayons Advertising Limited, India’s leading homegrown integrated advertising agency, announced its robust financial results for FY2023. This was its first result announcement after a successful listing at NSE Emerge earlier this month.
The company clocked a total revenue of Rs 281.15 crore for FY2023, up 44.89% compared to Rs 194.05 crore in FY2022. The company’s revenue improved to Rs 162.98 crore during H2FY23 from Rs 118.17 crore during H1FY23. The company’s EBITDA stood at Rs. 24.41 crore during FY2023 against Rs. 4.36 crore during FY2022.
Crayons’ net profit for FY2023 witnessed an exponential jump of 930% to Rs 16.59 crore compared to Rs 1.61 crore reported for FY2022. During H2FY23, net profit jumped 53% to Rs 10.04 crore from Rs 6.55 crore during H1FY23. The company’s EPS for FY2023 stood at Rs. 9.22 vs Rs. 0.90 for FY2022.
Commenting on the results, Kunal Lalani, Founder & Managing Director, Crayons Advertising, said, “Our strong growth in earnings parameters during the last financial year underscores the performance of our advertising business. We are confident that our earnings will remain on strong footing in the current financial year because of a strong pipeline of clients and our focus on high-growth verticals such as digital and events.”
In the past couple of years, the agency has handled and executed multiple prestigious campaigns for the Tata Group. Recently, Crayons worked on the Tata Mumbai Marathon campaign, which serves as a case study in awareness and engagement. Under the Tata brand umbrella last year, Croma appointed Crayons Advertising to handle its creative mandate. The account was won following a multi-agency pitch. The agency’s mandate is to help set Croma apart in a highly saturated communication space. The Crayons Network also launched and conceptualised ‘Wings of Change’ for Air India’s takeover campaign.
The company recently bagged the integrated communications mandate from Cornitos, a leading healthy snacking brand – further expanding its digital client portfolio. It also onboarded Som Distillers, one of the leading alcoholic beverage manufacturers in India. Crayons would work on integrated marketing mandates across the company’s brand portfolio.