Here’s a detailed summary of Zoho’s background, founding, business model/capabilities, and its financials as known from public sources,
Background & History
| Aspect | Detail |
|---|---|
| Founding | Zoho Corporation was originally founded in 1996 as AdventNet, Inc. by Sridhar Vembu and Tony Thomas, along with Vembu’s brothers and friends. |
| Original Product / Focus | Initially AdventNet offered network management tools; “WebNMS” was one of its early products. Over time the company expanded into enterprise software and SaaS. |
| Rebranding & Evolution | The name “Zoho” (originally a brand/product line) gradually grew; in 2009, AdventNet officially rebranded itself as Zoho Corporation to reflect its SaaS and cloud-software focus. |
| Leadership & Ownership | Sridhar Vembu is the key figure. As of recent reports he stepped down as CEO to become “Chief Scientist,” focusing more on R&D and deep tech. Ownership is still heavily with the founders/family; it is a bootstrapped/private (unlisted) company. |
| Product Lines & Structure | Zoho offers a wide suite of cloud-based business software: CRM, email, office / productivity tools (like Zoho Workplace), accounting, collaboration, project management, HR etc. There is a division called ManageEngine which provides enterprise IT management tools (monitoring, managing networks, servers etc.) which contributes significantly. |
| Geographical Spread & Reach | Operates globally across over 150 countries. Strong presence in North America, Europe, Asia etc. Also notable: increasing growth from Asia, especially India. |
Financials & Key Metrics
Here are the most recent audited / ROC (Registrar of Companies) figures available, mostly for FY22 and FY23. All amounts in Indian rupees unless stated.
| Fiscal Year | Revenue from operations (or operating revenues) | Net Profit / PAT | Other Notable Details |
|---|---|---|---|
| FY21 | ~ ₹ 5,230 crore (from Zoho’s filings) | ~ ₹ 1,918 crore | ManageEngine as major revenue contributor; business app category also growing. |
| FY22 | ₹ 6,711 crore, up ~28% over FY21. | ~ ₹ 2,749–2,750 crore, up ~43% over FY21. | Expenses scaled: employee costs, advertising, legal/professional etc. EBITDA and ROCE strong: for FY22, ROCE ≈ 31.3%; EBITDA margin ≈ 43.4%. |
| FY23 | Revenue from operations ~ ₹ 8,703 crore, ~30% YoY growth over FY22. | Net profit ~ ₹ 2,836 crore (up only modestly vs. FY22) | Total revenue including interest & financial gains ~ ₹ 9,158.9 crore. Costs increased significantly in areas like employee benefits, advertising / promotions, data centres / hosting etc. Region-wise growth: Asia showed highest growth (especially in India), US & Europe also growing but at lower percentage. Asia revenue growth ~158% in FY23 over FY22. |
Valuation & Other Data
- As of early 2025, Zoho was valued at ≈ ₹1.03-1.04 lakh crore (i.e. around INR 1.03–1.04 10^5 crores) in the Burgundy Private / Hurun India 500 report, placing it among the top unlisted/bootstrapped companies in India.
- The valuation was up ~58% compared to previous year.
Strengths & Financial Features
From the data, the following patterns stand out:
- Bootstrapped model: Zoho has famously grown largely without external VC funding. That gives them more control over financial discipline and strategic decisions.
- Strong margins: They retain decent profitability and relatively high EBITDA margins, especially compared to many high-burn SaaS startups.
- Expense growth: As with any software/SaaS company, their costs have been increasing, especially in employee benefit costs, infrastructure (hosting, data centres), and marketing/advertising. The profitability growth is being somewhat squeezed by rising costs.
Financials & Key Metrics Projections (FY-24)
We couldn’t find fully audited, detailed public financial statements for Zoho Corporation for FY24 / mid-2025 (since it is a private company). However, located some reported numbers / estimates and press disclosures. These should be treated as indicative, not definitive.
Here’s an updated table with the most recent available data (FY24 estimates / press-reported figures):
| Fiscal Year | Revenue from operations / Reported Revenue | Net Profit / Reported Profit | Notes / Caveats / Observations |
|---|---|---|---|
| FY24 (estimate / press-reported) | ₹9,372 cr (i.e. ~37.2% increase) | — | Revenue from operations reportedly rose to ₹9,372 crore. Net profit figure is not reliably reported in public sources. |
| 2024 (global / USD revenue) | US$1.4 billion (approx) | — | According to CRM / SaaS industry data, Zoho’s global revenues in 2024 were ~27% higher than in 2023. |
Observations & Commentary
- The revenue figure ₹9,372 cr for FY24 would imply continued healthy growth. But note: we don’t have a confirmed audited net profit for FY24.
- The global / USD revenue number (US$1.4B in 2024) is derived from third-party SaaS / CRM tracking sources rather than Zoho’s own published financials.
- Zoho’s own annual report for FY24 (or a full consolidated statement) is not publicly available / confirmed in sources I found. Indeed, one report says “the company has yet to file its annual report for FY24.”
- Because Zoho is privately held and not required to disclose full audited statements publicly, many numbers are drawn from press, interviews, estimates, and industry watchers. These can differ from the actuals.