D2C electronics brand boAt’s sales jumped over 2X to INR 2,872.9 Cr in the financial year 2021-22 (FY22) from INR 1,313.8 Cr in FY21. Total revenue increased by 117.5% to INR 2,886.4 Cr, up from INR 1,320.3 Cr the previous fiscal year.
In FY22, audio products such as earphones and headphones continued to generate the most revenue for the startup. boAt’s revenue from audio product sales increased by 85.2% to INR 2,276 Cr from INR 1,228.5 Cr in FY21. Audio product sales accounted for nearly 80% of its operating revenue. Meanwhile, wearables like smart watches generated INR 515.5 Cr in revenue in FY22, an increase of 841% from INR 54.8 Cr the previous year.