The Indian market is expanding, and there are aspirations to expand internationally. fiscal year 25: boAt's

On Thursday, leading audio and wearables company boAt reported net revenues of Rs 4,000 crore in FY23.

The firm produced around 15 million goods in India during FY23.

According to the firm, this milestone was attained as a result of its ongoing presence in the audio category, as well as developing a leading position in the hyper-growth wearables area.

"Having raised private equity capital over multiple rounds, including from Warburg Pincus, we believe boAt is well positioned and capitalised to continue to make aggressive investments in establishing ourselves as a leading wearables brand in the country, similar to our achievements in the audio category," said Sameer Mehta, co-founder and CEO of boAt.

According to IDC, India shipped 25.1 million wearable units in the first quarter of 2023, representing a remarkable 80.9 percent (year on year) increase.

Imagine Marketing (boAt) retained first place with a 25.6% share, expanding by 102.4 percent.

Smartwatches (basic and advanced) were the fastest-growing wearable category, with 10.4 million shipments, up 178.9% year on year.

In the wearables area, boAt stated that it is following a unique approach of heavily investing in its software and in-house app.