FNP, earlier known as Ferns N Petals, is preparing for its Initial Public Offering (IPO) by the end of 2028 as the company continues to grow its business across India and international markets. The gifting and celebrations brand has crossed the Rs 1,000 crore revenue mark in FY26 and is now focusing on improving profits along with expanding its business.
Over the last few years, FNP has grown beyond flowers and now offers cakes, gifts, plants, personalised products, and celebration services. The company wants to build a business worth Rs 2,200–2,400 crore before entering the stock market. It also plans to use the IPO funds to expand its business and acquire brands in the gifting and celebrations sector.
Strong Revenue Growth Supports IPO Plans
FNP has reported steady growth in its financial performance over the last few years. In FY24, the company recorded an operating revenue of Rs 705 crore. This increased by 22% to Rs 861.5 crore in FY25, while total income reached Rs 869 crore after adding other income.
The company also reduced its net loss by 8.3% to Rs 22 crore in FY25. Most of its revenue came from selling flowers, cakes, gifts, and other products, while the rest came from delivery charges, convenience fees, and franchise royalty income.
FNP says its improving financial performance is supported by better supply chain management, investments in central kitchens, and the use of artificial intelligence (AI) to improve demand forecasting and deliveries.
In FY26, the company crossed the Rs 1,000 crore revenue milestone, with revenue estimated between Rs 1,005 crore and Rs 1,085 crore. During the year, it also improved its EBITDA margin to around 2.5% to 3%.
Looking ahead, FNP expects its revenue to reach Rs 1,400 crore in FY27. It also aims to improve its operating margin to around 5% to 6% and eventually become profitable at the net profit level.
Earlier, the company planned to go public after reaching Rs 1,500 crore in revenue and Rs 150 crore in EBITDA. However, it has now shifted its IPO target to the end of 2028.
Quick Commerce and Store Expansion Become Key Growth Drivers
Quick commerce has become one of FNP’s biggest growth areas. As customers increasingly prefer faster deliveries, the company has expanded its presence on major quick commerce platforms while also strengthening its own rapid delivery service.
According to the company, deliveries completed within 45 minutes have increased order volumes by around 15%. Revenue from quick commerce has also grown sharply from around Rs 7–8 crore in FY24/FY25 to nearly Rs 65 crore in FY26.
FNP now expects this business to generate around Rs 125 crore in FY27. In the long term, it believes quick commerce could contribute 20% to 25% of its total revenue.
To support this growth, the company plans to increase its metro dark store network from 21 locations to 40 over the next year. It has also reduced the operating cost of its quick commerce business, helping improve overall efficiency.
The company currently delivers to almost 99% of Indian pin codes and serves more than two million customers every year. Along with strengthening its online business, FNP also plans to expand its retail network through both company-owned stores and franchise outlets. While premium company-owned stores will be opened in metro cities, franchise stores will continue to drive growth in Tier-2 and Tier-3 cities.
International Business and Brand Makeover Support Future Growth
International markets now contribute nearly 45% of FNP’s total revenue. The company operates in countries such as the UAE, Singapore, Qatar, and Saudi Arabia, and plans to expand further into Malaysia, Kuwait, Bahrain, and other Gulf markets.
The UAE remains its biggest overseas market, and FNP expects its international business to contribute around Rs 500 crore in revenue by the end of FY26. Except for its newly launched Saudi business, all of its international operations are already profitable.
So far, FNP has mainly followed a digital-first model in international markets. However, it now plans to open its first flagship physical stores in premium locations such as Dubai and Doha.
The company has also rebranded itself from Ferns N Petals to simply FNP to reflect its wider product range. Today, the brand offers more than 40,000 products and wants to be known as a complete celebrations platform instead of only a flower delivery company.
Cakes have become one of FNP’s biggest revenue contributors, accounting for nearly 40% of its total income. Its premium gifting business, FNP Luxe, is also growing steadily with higher average order values. Apart from gifting, FNP has expanded into weddings, hospitality, and medical tourism through businesses such as FNP Weddings and Events, Udman Hotels and Resorts, and MediJourney.
With rising revenue, better profitability, growing quick commerce operations, and expansion in international markets, FNP is building a stronger business as it moves closer to its planned IPO in 2028.