Newspatrolling.com News cum Content Syndication Portal Online
17th July 2024 *New Delhi, India – GoMechanic, India’s largest after-market auto service network, proudly announces a major milestone achieved under the guidance of its new founders, Himanshu Arora and Muskan Kakkar: the company has turned EBITDA positive in the first financial quarter of this year. This significant achievement marks a pivotal moment in GoMechanic’s evolution, highlighting its growth and innovation in the auto service industry.
Servizzy, a venture focused on tech-enabled car care service solutions, was founded by Himanshu Arora and Muskan Kakkar in 2020. Their vision and dedication propelled the company to expand its operations pan India, leading to the acquisition of the GoMechanic brand in March 2023 and a subsequent rebranding. Their relentless pursuit of excellence has established GoMechanic as India’s largest premium car care brand. Marquee investor groups like Hero Enterprise , Lifelong group & Stride Ventures currently back Servizzy which now owns GoMechanic.
Factors Contributing to GoMechanic’s EBITDA Positive Achievement:
Following its acquisition by Servizzy, GoMechanic’s service revenue went up by 3X, significantly contributing to the achievement of positive EBITDA.
In the fiscal year 2024, GoMechanic reported remarkable financial performance:
– Topline Revenue: Reported ₹210 crores from services, spares, and accessories in the last financial year 2023-2024, with exemplary performance in the first quarter of this financial year, reporting a top-line revenue of ₹85 crores.
– Network Expansion: GoMechanic now services over 30,000 cars every month through their network, which has expanded to over 600 service workshops across more than 50 cities.
– Customer Retention: Achieved a 50% repeat customer rate and a Customer Net Promoter Score (NPS) of +50.
Innovative Services and Programs
– GoMechanic Accessories: GoMechanic Accessories reported a revenue of ₹11.2 crores in the first quarter of the financial year 2024-2025. The robust performance is bolstered by a strong online presence on major platforms such as Amazon and Flipkart, complemented by a widespread offline network of over 600 dealers across more than 50 cities in India.
– GoMechanic Luxe: Launched in August last year, this specialized service line caters to luxury cars, offering bespoke, high-quality maintenance and repair solutions tailored for high-end vehicle owners. Eleven Luxe service centers were launched in the last financial year 2023-2024.
– GoMechanic Protect + Warranty Program: Introduced in February this year, this first-of-its-kind initiative provides extended warranties for car owners, enhancing customer trust and satisfaction by offering unprecedented coverage and peace of mind.
– GoMechanic EV Service Station: Responding to the rapid adoption of electric vehicles (EVs), GoMechanic has launched specialized EV car servicing centers equipped with advanced technology and trained technicians to meet the unique requirements of EV maintenance and repair. In the first phase, 13 EV service centers are being launched across Delhi, Mumbai, Bangalore, Hyderabad, and Chennai.
Leadership and Vision
Under the leadership of Himanshu Arora and Muskan Kakkar, GoMechanic has not only achieved profitability but has also set new industry standards through its customer-centric services and innovative approach. Their leadership has been instrumental in driving GoMechanic’s growth, positioning it for continued success in the years to come.
Himanshu Arora, Co-Founder & CEO of GoMechanic, commented:
“We have managed to strike a balance between profitability and growth, ensuring that we continue to provide exceptional service to our customers while expanding our footprint. Our aim is to service 1 out of 10 cars in the country by FY 2027, and by then, we plan to be present in over 1000 cities across India.”
Muskan Kakkar, Co-Founder & COO of GoMechanic, added:
“We are incredibly proud of what we have achieved in such a short time. Our focus has always been on delivering top-notch services and building trust with our customers. This achievement underscores the hard work and dedication of our entire team, and we are excited about the future as we continue to set new benchmarks in the auto service industry.”
