Revenue, EBITDA, and PAT Trend
₹ Cr
RevenueEBITDAProfit After Tax
Company Overview
Founded in 1996 and bootstrapped throughout its history , Zoho Corporation is a Chennai-headquartered multinational operating four distinct brands: ManageEngine, Zoho, Qntrl, and TrainerCentral . Revenue is generated through subscription software — anchored by the Zoho One platform with 50 applications spanning CRM , finance, and operations — serving both enterprise and SMB customers . With 90+ offices across 28 countries and expanding data centre infrastructure including a recent UAE launch , Zoho's global reach underpins 20% revenue growth and 32% customer growth recorded in 2025 .
Financial Performance
Zoho has compounded revenue at 26.0% over FY2021–FY2024 , reaching ₹10,456 Cr in FY2024 , driven by a freemium-to-paid conversion model and accelerating momentum in developing regions . Margin compression is the key watch point: EBITDA margin contracted from 51.1% in FY2022 to 37.4% in FY2024 , with FY2023 the inflection year as total expenditure surged 51% on a 49% rise in employee costs and near-doubling of advertising spend . PAT margin similarly declined from 41.0% to 31.5% . Returns have normalised in tandem — ROE fell from 41.3% to 25.3% and ROCE from 51.1% to 31.3% over the same period — though both remain well above SaaS-sector peers, reflecting Zoho's debt-free, bootstrapped structure . Revenue growth of 20% in 2025 suggests the reinvestment cycle is sustaining top-line momentum.
Revenue 3Y CAGR (FY2021–FY2024)
26.0%
EBITDA Margin (FY2024)
37.4%
Down from 51.1% in FY2022
ROE (FY2024)
25.3%
Down from 41.3% in FY2021
PAT 3Y CAGR (FY2021–FY2024)
19.8%
Growth & Margin History
₹ Crore
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue | 6,711 | 8,704 | 10,456 |
| EBITDA | 3,427 | 3,625 | 3,915 |
| EBIT | 3,437 | 3,768 | 4,138 |
| Profit After Tax | 2,749 | 2,836 | 3,299 |
| EBITDA Margin | 51.1% | 41.7% | 37.4% |
| EBIT Margin | 51.2% | 43.3% | 39.6% |
| PAT Margin | 41.0% | 32.6% | 31.5% |