Key Metrics of Pratyaya E-Commerce Private Limited
About Pratyaya E-Commerce Private Limited
Sectors
Company details
- Registered office
- Western Aqua, Cabin No. 121, 5th Floor, Workafella Business Centrehi-tech City, Whitefields, Shaikpet,, Hyderabad, In-ts, 500081
Operational Areas of Pratyaya E-Commerce Private Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 17 Sep 2026 | CARE | Assigned | A | A1 | Stable | ₹38.0 Cr | View |
Credit strengths (CARE, Sep 2026)
+ Strong operational, managerial, and financial support from the parent, ABFRL
Through its wholly owned subsidiary, ABDFVL, ABFRL operates the TMRW platform, which focuses on product and design innovation for Gen-Z and millennial consumers across segments such as athleisure, activewear, expressive wear, and accessories. 1SEBI: Securities and Exchange Board of India; RBI: Reserve Bank of India; MCA: Ministry of Corporate Affairs; IRDAI: Insurance Regulatory and Development Authority of India; PFRDA: Pension Fund Regulatory and Development Authority.
+ Established digital brands with omnichannel expansion supporting growth prospects
PEPL operates primarily through its flagship brand, Nobero, a digital -first athleisure and casualwear label offering affordable, contemporary and comfort -led apparel for mass -premium consumers aged 18 –35 years. PEPL follows a predominantly D2C -led model, distributing through its own platforms and leading online marketplaces, while selectively expanding its offline presence through exclusive brand outlets (EBOs) to build brand visibility and an omnichannel footprint. The acquisition strength
+ Significant scale-up in operations, though still moderate in size
PEPL’s TOI grew significantly, following its acquisition by ABDFVL, increasing from ₹16.3 crore in FY23 to ₹45.5 crore in FY24, ₹133.6 crore in FY25 and ₹203.0 crore in FY26, translating to a strong compounded annual growth rate (CAGR) of 131.5% from FY23–FY26. Growth has been supported by ABFRL’s brand-building expertise, an expanding customer base for athleisure wear, increased penetration across leading online marketplaces and continued expansion of the product portfolio. Growing brand
Credit challenges
− Moderate capital structure with equity infusion expected from the group as and when required
While acquiring a majority stake in PEPL in November 2022, ABDFVL infused ~₹13 crore. ABDFVL infused a further ₹9.50 crore through CCPS in FY24, which were converted into equity shares in FY25, and extended an inter-corporate loan of ~₹10 crore in FY25. In FY26, the outstanding loan balance of ₹17.70 crore was converted into equity, while ABDFVL further infused ₹23 crore through subscription to the rights issue. The continued financial support extended by ABDFVL, backed by its ultimate parent,
− Profit margins susceptible to volatile material prices
Procurement cost of finished garments constitutes a significant portion of the company’s operating expenses, rendering its profitability susceptible to fluctuations in sourcing costs. Prices quoted by third-party suppliers may vary due to changes in prices of underlying raw materials such as cotton and polyester, supply chain disruptions, geopolitical developments, and demand -supply dynamics. Given the highly competitive nature of the apparel industry, the company has limited pricing flexibilit
Could lead to an upgrade
• Substantially and significantly scaling operations, with revenue remaining above ₹350 crore on a consistent basis, aided by improved performance, resulting in improving in its PBILDT margin to over 7%. • Improving credit profile of ABFRL.
Could lead to a downgrade
• No significant scaling up of operations and reporting operating losses. • Delaying financial support from parent impacting
Agency-reported financials (CARE, 17 Sep 2026)
| Metric | March 31, 2025 | March 31, 2026 | Q1FY27 |
|---|---|---|---|
| Total operating income | ₹134 Cr | ₹203 Cr | ₹48.50 Cr |
| PBILDT* | ₹-8.69 Cr | ₹6.26 Cr | ₹1.40 Cr |
| Profit after tax (PAT) | ₹-7.98 Cr | ₹-1.36 Cr | ₹-0.86 Cr |
| Overall gearing (x) NM | 1.02× | — | — |
| Interest coverage (x) NM | 1.47× | 1.06× | — |
| Revenue growth (YoY) | — | 52.0% | — |
| PAT margin | −6.0% | −0.7% | −1.8% |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term bank facilities | Working capital & bank lines | — | ₹10.0 Cr | — | A (Stable) | Assigned | CARE |
| Short-term bank facilities | Working capital & bank lines | — | ₹28.0 Cr | — | A1 | Assigned | CARE |
CARE ratings on record (checked 25 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Bank Overdraft | ₹15.0 Cr | CARE A1 |
| Letter of credit | ₹7.00 Cr | CARE A1 |
| Term Loan | ₹10.0 Cr | CARE A; Stable |
| Working Capital Demand loan | ₹6.00 Cr | CARE A1 |
Lenders
| Fund-based - LT | Term Loan | ICICI Bank Ltd. |
| Fund-based - ST | Bank Overdraft | ICICI Bank Ltd. |
| Fund-based - ST | Working Capital Demand loan | ICICI Bank Ltd. |
| Non-fund-based - ST | Letter of credit | ICICI Bank Ltd. |
Credit assessment · Services
Rating Methodology – Service Sector Companies · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 52% |
| Information on file | 56% · missing: Annual results history (3+ years), Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 55% chance the next rating action is stable or better
- Current rating A (investment grade)
- Interest coverage 1.06×
- Working-capital limits 70% utilised on average
Rated limits by facility
Timeline
From the report
Subsequently, ABDFVL infused a further ₹9.50 crore in FY24 through compulsory convertible preference shares (CCPS), which were converted into equity shares in FY25.
From the report
Key weaknesses Moderate capital structure with equity infusion expected from the group as and when required While acquiring a majority stake in PEPL in November 2022, ABDFVL infused ~₹13 crore.
From the report
In FY26, the outstanding loan balance of ₹17.70 crore was converted into equity, while ABDFVL further infused ₹23 crore through subscription to the rights issue.
From the report
In FY27, PEPL availed a term loan of ₹10 crore towards capital expenditure, with repayment scheduled to commence from Q4FY27.
From the report
The company has term debt repayment obligations of ~₹0.59 crore in FY27, apart from lease liability obligations of ~₹6.53 crore.
From the report
Average utilisation of its fund-based working capital limits remained moderate at ~70% for 12-months ended June 2026.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Pratyaya E-Commerce Private Limited
Top competitors by location
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|---|---|---|---|---|
| Eternal Limited | Discovered Companies · Other Industries | — | — | New Delhi, Delhi, India |
 Swiggy |
E-commerce · Food Delivery | swiggy.com | 2014 | Bangalore, India |
 Meesho |
Product & Internet Companies · IT Services & Software | meesho.com | — | Bangalore, India |
 FSN E-Commerce Ventures Limited |
· Trading | nykaa.com | 2012 | Mumbai, Maharashtra, India |
 One97 Communications |
Product & Internet Companies · IT Services & Software | one97.com | 2000 | India |
| Lenskart Solutions Limited | Discovered Companies · Other Industries | — | — | New Delhi, Delhi, India |
 Brainbees Solutions Limited |
Discovered Companies · Other Industries | firstcry.com | 2010 | Pune, Maharashtra, India |
| Medplus Health Services Limited | Discovered Companies · Other Industries | — | — | Hyderabad, Telangana, India |
| Entero Healthcare Solutions Limited | Formulations & Contract Manufacturing · Pharmaceuticals & Healthcare | — | — | Faridabad, Haryana, India |
| Product & Internet Companies · IT Services & Software | infoedge.in | — | New Delhi, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.