Boat

Wireless earbuds

Headphones

Speakers

Smartwatches

Charging cables

The company focuses on combining smart branding, production, development and distribution via online channels. They also draw focus on their audio accessories with their sub-brand, Nirvana.

The company faced a 4.4% decrease in sales in the last year, however, managed to increase their profit after tax from Rs. 64.22 crore to Rs. 92.15 crore. Additionally, there was also a reduction in production costs by Rs. 12.36 crore. This depicts the company’s improved standalone profitability, despite lower sales.

Despite having faced years of losses in the past(FY 2023-2024) caused by aggressive marketing expenditure and working capital pressure, the company recovered by focusing on cost discipline, inventory optimisation and debt repayment strategies.

Financial structure of the company includes equity, preference shares and borrowings, with a majority investor being South Lake Investment Limited. Their borrowings include a Series C Convertible Preference Share, which acts as a financial liability, being Rs. 504.65 crore as opposed to the previous years’ Rs. 595.06 crore.

Their subsidiaries include

Dive Marketing Private Limited

HOB Ventures Private Limited

Imagine Marketing Singapore Pte. Ltd.

Kaha Technologies Private Limited(alongside Kaha step-down subsidiaries)

Califonix Tech and Manufacturing Private Limited is a 50:50 joint venture focused on audio-product manufacturing. This venture was built in order to support the company’s strong “Make in India” policy and assist with their upward growth.

Their key strategic focus lies on expanding distribution, and development of products with a focus on domestic manufacturing, which should compete with their challenges of reduced revenue, intense competition, margin pressure and financial obligations.