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Monk-E, owned by Ranveer Allahbadia, a full-service digital media agency specializing in talent management, video production, social media management, and influencer marketing, saw significant financial growth in FY24. The majority of its revenue—86.6%—came from India, while the remaining portion was generated from international markets.
The company’s biggest expense was influencer marketing, which accounted for 84% of its total costs. However, this expense declined by 2%, dropping to Rs 77.4 crore in FY24 from Rs 79 crore in FY23. On the other hand, employee benefit costs increased by 38% to Rs 7.7 crore during the same period.
Among these expenses, BeerBiceps Media, founded by Ranveer Allahbadia, received Rs 7.77 crore for providing technical services to Monk-E. Additional costs, including commissions, legal fees, rent, and advertising, brought the company’s total expenditure to Rs 92 crore in FY24.
Monk-E reported a 58.9% rise in profits, increasing from Rs 4.55 crore in FY23 to Rs 7.23 crore in FY24. The company’s Return on Capital Employed (ROCE) stood at 35.4%, while its EBITDA margin reached 7.86%. On a per-unit basis, Monk-E spent Re 0.94 to generate a rupee in revenue.
By the end of FY24, the company had current assets totaling Rs 28.46 crore, which included Rs 5.5 crore in cash and bank balances.
Despite Monk-E’s growth, its future may be impacted by the recent controversy surrounding Allahbadia’s remarks on a show. While it’s uncertain how this will affect the company, its substantial market presence means that any reputational misstep could have serious business consequences. However, this also presents an opportunity for Monk-E to showcase its resilience and crisis management strategies.
Ultimately, while public scrutiny remains high, it’s important for audiences to critically evaluate the content they consume rather than react impulsively to controversial statements. The coming months will reveal how Monk-E navigates these challenges and sustains its growth trajectory.
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