Curefoods FY26 revenue up 23 percent, loss widens
Curefoods grew FY26 revenue 23 percent and still widened its loss. Rebel Foods, reporting the same week for the same financial year, grew slower and narrowed its loss. The gap sits in commission and depreciation.
- FY26 operating revenue was Rs 916.2 crore against Rs 745.8 crore, growth of 22.8 percent, rounded to 23 percent.
- Net loss widened 13 percent to Rs 192.2 crore even as the EBITDA loss narrowed to Rs 69.3 crore, a margin of negative 7.6 percent.
- Commission of Rs 166.8 crore is 18.2 percent of revenue, against 16.3 percent at Rebel Foods in the same year.
- The FY25 advertising and promotion figure is absent, so the 10 percent decline to Rs 79 crore cannot be sized in rupees.
Curefoods reported operating revenue of Rs 916.2 crore for FY26, up from Rs 745.8 crore in FY25, in figures carried by Entrackr on 18 September 2026. The growth is 22.8 percent, which the report rounds to 23 percent. Net loss widened 13 percent to Rs 192.2 crore from Rs 170 crore.
Total expenditure was Rs 1,127 crore. Materials took Rs 310.4 crore, employee benefits Rs 213.9 crore including Rs 33 crore of ESOP, commission Rs 166.8 crore, other overheads Rs 256.3 crore, and depreciation and amortisation Rs 100.6 crore. Advertising and promotion fell 10 percent to Rs 79 crore. The FY25 advertising figure is absent from the disclosure, so that decline cannot be sized in rupees. EBITDA loss narrowed to Rs 69.3 crore from Rs 86 crore, a margin of negative 7.6 percent against negative 11.5 percent. Eight brands run across 281 cloud kitchens, 99 kiosks and 122 restaurants: EatFit, Sharief Bhai, OLIO, Arambam, Krispy Kreme, Nomad Pizza, CakeZone and Frozen Bottle.
Set that against Rebel Foods in the same financial year. Rebel grew revenue 21 percent and narrowed its loss 16 percent. Curefoods grew faster and widened its loss. Two cloud kitchen operators, one year, opposite directions on the bottom line.
The commission line carries part of it. Curefoods paid Rs 166.8 crore on Rs 916.2 crore of revenue, which is 18.2 percent going to the aggregator layer. Rebel paid 16.3 percent. Curefoods also holds the weaker EBITDA margin, negative 7.6 percent against negative 5.4 percent.
The sharper split is inside Curefoods’ own accounts. Its EBITDA loss narrowed by Rs 16.7 crore while its net loss widened by Rs 22.2 crore, so the whole deterioration sits below the EBITDA line. Depreciation and amortisation rose 24 percent to Rs 100.6 crore. Finance costs are not broken out.
For a brand selling through the same aggregators, the reading is narrow but useful. Curefoods runs 502 outlets across three formats and its operating loss per rupee of revenue is improving. What it has not outrun is the depreciation those 502 outlets create. Outlet count buys revenue growth. It does not buy a profit line.
Zane’s analysis draws on original reporting by Entrackr. Read the original report.