About the author
About Rahul Asati
I love writing about business and finance, decoding complex stories and making them easy for people to understand.
Published work
Articles by Rahul Asati
Business Model
How Does Lenskart Make Money? Inside Its Eyewear Business Model
Understand how Lenskart makes money from eyewear, eye tests, stores, manufacturing, Gold membership and premium products, and how scale is improving profits.
Lenskart
Business Model
How Does Kaynes Technology Make Money From Electronics Manufacturing?
Kaynes Technology manufactures electronics for customers across automotive, industrial, railway, aerospace, defence and medical markets. It focuses on.
Kaynes Technology
Business Model
How Does Hero MotoCorp Make Money?
Hero MotoCorp remains centred on commuter motorcycles, a category built around affordability, fuel efficiency and a large service network. It is using that.
Hero MotoCorp
Business Model
How Does Postman Make Money From APIs?
Postman began as a tool that made it easier for developers to send and test requests to an application programming interface, or API. An API allows one.
Postman
Business Model
Upstox Business Model: Brokerage, DP and MTF
How Upstox earns brokerage, demat fees and margin interest while separating broker income from taxes and exchange charges.
Upstox
Business Model
How Does Blue Tokai Make Money From Coffee, Cafés and Roasting?
See how Blue Tokai sells roasted coffee, café drinks and wholesale supply, and what its latest filed results say about profit.
Blue Tokai Coffee Roasters
Business Model
How Does Suzlon Energy Make Money From Wind Turbines and Maintenance?
Learn how Suzlon makes money from wind turbine deliveries, project execution and long-term maintenance, using Q1 FY27 sales and order figures.
Suzlon Energy
Business Model
How Does Zerodha Make Money With Zero Brokerage on Equity Delivery?
Learn how Zerodha makes money despite free equity delivery, using paid trading, margin funding and smaller account-related services across its platform.
Zerodha
Business Model
How Does Bajaj Auto Make Money From Motorcycles, Chetak and Three-Wheelers?
Bajaj Auto combines domestic motorcycles, a large export business, three-wheelers and newer premium and electric products. These businesses respond to.
Bajaj Auto
Business Model
How Does Freshworks Make Money From Business Software?
Freshworks sells cloud software that helps companies manage customer support and internal IT work. Its best-known products include Freshdesk and.
Freshworks
Business Model
Third Wave Coffee Business Model: Cafés and Food
How Third Wave Coffee earns from drinks and food, what each café costs to run and how to read its FY26 revenue and store growth.
Third Wave Coffee
Business Model
How Does PhysicsWallah Make Money From Affordable Education?
PhysicsWallah combines low-cost online courses with offline centres. Its advantage depends on teacher brands, outcomes and disciplined centre growth.
PhysicsWallah
Business Model
How JSW Energy Makes Money From Power Plants, Renewables and Storage
Learn how JSW Energy makes money from long-term power contracts, thermal plants, renewables, hydro projects and energy storage across its portfolio.
JSW Energy
Business Model
TVS Motor Business Model: Vehicles and Evs
Learn how TVS Motor makes money from motorcycles, scooters, exports and electric vehicles, using Q1 FY27 sales, revenue, profit and volume figures.
TVS Motor Company
Business Model
How CRED Turned Credit Card Payments Into a ₹2,735 Crore Business
Learn how CRED makes money from payments, lending, insurance, merchant services and cross-selling financial products to its creditworthy user base.
CRED
Business Model
How Does Country Delight Make Money? Business Model Explained
Learn how Country Delight makes money through milk subscriptions, dairy products, daily essentials and its direct-to-home distribution model.
Country Delight
Business Model
How Does Uniphore Make Money From Enterprise AI?
Uniphore describes itself as a business AI company rather than a laboratory trying to build the world's largest general-purpose model. Its platform is.
Uniphore
Business Model
How Does Urban Company Make Money From Home Services?
Urban Company standardises fragmented home services, earning from transactions while investing in partner quality, products and faster formats.
Urban Company
Business Model
How Hindustan Zinc Turned a Zinc Mine Into a ₹40,844 Crore Multi-Metal Business
Learn how Hindustan Zinc makes money from zinc, lead, silver, by-products, integrated smelting, captive power and low-cost mining operations.
Hindustan Zinc
Business Model
How Paytm Makes Money in 2026: Payments and Loans
See how Paytm makes money from merchant payments, Soundbox subscriptions and loan distribution, and how these businesses supported its FY26 profit.
Paytm
Business Model
How Does Mahindra & Mahindra Make Money From SUVs and Tractors?
Mahindra & Mahindra has two unusually strong operating engines. Its automotive business sells SUVs and commercial vehicles, while its farm business is.
Mahindra & Mahindra
Business Model
How Does Yellow.ai Make Money From Enterprise AI Agents?
Yellow.ai sells artificial-intelligence agents to large businesses that want to automate customer and employee conversations. A bank may use an agent to.
Yellow.ai
Business Model
Wakefit Business Model: Mattresses and Furniture
How Wakefit earns from mattresses and home products through its online, store and manufacturing network, with Q1 FY27 sales mix.
Wakefit
Business Model
How Does Rapido Make Money From Rides, Subscriptions and Deliveries?
Rapido challenged commission-led ride hailing with subscriptions, using bike-taxi density to expand into autos, cabs and delivery.
Rapido
Business Model
Vedanta Limited Business Model After Demerger
Learn how Vedanta makes money from zinc, lead, silver and copper after its 2026 restructuring, and how its current segment results should be read.
Vedanta
Business Model
How Hocco Built a ₹530 Crore Ice Cream Business in Just Two Years
Learn how Hocco built a ₹530 crore ice cream business through general trade, quick commerce, cold-chain infrastructure and manufacturing scale.
Hocco
Business Model
How Does boAt Make Money From Earphones, Speakers and Wearables?
Learn how boAt makes money from audio products, wearables and accessories, and how discounts, returns and product mix shaped FY26 profitability.
boAt
Business Model
How Does Tata Motors Make Money Across Cars, Trucks and JLR?
The traditional answer to this question combined Indian cars, trucks and Jaguar Land Rover. After Tata Motors' demerger, that approach can be misleading.
Tata Motors
Business Model
How Does Krutrim Plan to Make Money From AI Cloud and Models?
Krutrim is trying to build an Indian artificial-intelligence platform covering computing infrastructure, models and developer tools. That creates several.
Krutrim
Business Model
How Does Skyroot Aerospace Make Money From Rocket Launches?
Skyroot is building small satellite launch vehicles. Its economics depend on launch reliability, cadence, payload demand and reusable engineering.
Skyroot Aerospace
Business Model
How Milky Mist Makes Money From Dairy Products
Understand how Milky Mist makes money from paneer and other dairy products, supported by its supply chain, distribution network and FY26 growth.
Milky Mist
Business Model
How Does FirstCry Make Money? Business Model Explained
Learn how FirstCry makes money through online retail, physical stores, owned brands, GlobalBees and international operations across baby and kids products.
FirstCry
Business Model
How Will Tata Electronics Make Money From Chips and Electronics Manufacturing?
Tata Electronics is building several businesses under one name: electronics assembly, component manufacturing, semiconductor fabrication and chip packaging.
Tata Electronics
Business Model
How Does ideaForge Make Money From Drones?
ideaForge sells unmanned aircraft systems used by defence, security, mapping and enterprise customers. Most revenue comes from delivering drones and related.
ideaForge
Business Model
How Does KreditBee Make Money From Personal Loans?
For a borrower, KreditBee can look like a simple mobile app: enter a few details, complete verification and receive a personal loan. Behind that short.
KreditBee
Business Model
How Does Navi Make Money From Digital Loans?
Navi combines a profitable lending engine with insurance, investments and a costly UPI expansion. Here is how the economics fit together.
Navi
Business Model
How Does Chaayos Make Money From Chai Cafés?
Understand how Chaayos makes money from chai and food sales, using FY25 operating revenue, café costs and its path from growth to profitability.
Chaayos
Business Model
How Does Nykaa Make Money From Beauty and Fashion?
Explore how Nykaa makes money from beauty retail, owned brands, fashion and Superstore, using Q1 FY27 sales, margins, profit and segment growth figures.
Nykaa
Business Model
How Does Niyo Make Money From Travel Banking?
See how Niyo earns from travel banking, bookings and Premium, and why zero forex markup does not make every service free.
Niyo
Business Model
How Does Tata Power Make Money?
Tata Power operates across electricity generation, distribution and a growing set of clean-energy businesses. Each activity earns differently. Regulated.
Tata Power
Business Model
How Does Addverb Make Money From Warehouse Robotics?
Addverb automates warehouses using mobile robots, storage systems, sortation equipment and software. Unlike a company selling one standard machine, it often.
Addverb
Business Model
How Does Swiggy Make Money From Food Delivery, Instamart and Dining Out?
Swiggy earns from food delivery, quick commerce and dining, with a profitable food engine funding Instamart’s expansion.
Swiggy
Business Model
How Does Digit Insurance Make Money? Business Model Explained
Learn how Digit Insurance makes money from premiums, motor policies, underwriting, investment income and its expanding digital insurance platform.
Digit Insurance
Business Model
How EatClub Built a ₹750 Crore Food Business From Shared Cloud Kitchens
Learn how EatClub makes money through shared cloud kitchens, multiple food brands, direct ordering and higher kitchen utilisation across its network.
EatClub
Business Model
How Does Myntra Make Money From Fashion E-Commerce?
Break down how Myntra Designs earns from logistics, marketplace services and advertising, and what FY25 costs reveal about fashion e-commerce.
Myntra
Business Model
How Does Adani Enterprises Make Money?
Adani Enterprises is best understood as an incubator rather than a single operating business. It develops businesses, funds their early growth and may.
Adani Enterprises
Business Model
How Does Ati Motors Make Money From Industrial Robots?
Ati Motors builds autonomous mobile robots that move materials inside factories and warehouses. The company earns from selling or deploying the machines.
Ati Motors
Business Model
How Does Meesho Make Money With Zero Seller Commission?
Meesho makes low-ticket e-commerce work through seller services, logistics and a low-cost discovery model focused on price-sensitive India.
Meesho
Business Model
How Does M2P Fintech Make Money From Banking Infrastructure?
Explore how M2P makes money by selling core banking, cards and lending infrastructure to financial institutions, and what FY25 results reveal.
M2P Fintech
Business Model
Rebel Foods Business Model: Brands and Cloud Kitchens
See how Rebel Foods makes money from meals sold across multiple brands and shared kitchens, using FY26 food sales, revenue and loss figures.
Rebel Foods
Business Model
How Does Flipkart Make Money? Marketplace, Ads and Logistics Explained
Learn how Flipkart makes money from marketplace fees, advertising, logistics, payment services and quick commerce across its expanding e-commerce ecosystem.
Flipkart
Business Model
How Does Waaree Energies Make Money From Solar Manufacturing?
Waaree Energies manufactures solar modules and is expanding across cells, wafers, storage and project activities. The basic revenue equation is simple.
Waaree Energies
Business Model
How Does Digantara Make Money From Space Situational Awareness?
As more satellites enter orbit, operators need to know what is around them and whether a collision is likely. Digantara is building a space-domain-awareness.
Digantara
Business Model
How Does PhonePe Make Money From UPI, Merchants and Financial Services?
PhonePe leads UPI, but earns through merchant services, financial-product distribution and new platforms rather than free bank transfers.
PhonePe
Business Model
super.money Business Model: UPI, Cashback and Merchant Revenue
Learn how super.money uses cashback to attract UPI users and seeks revenue from checkout, partner cards, shopping and other financial products.
super.money
Business Model
How Curefoods Built a ₹916 Crore Food Empire Across 10 Brands
Learn how Curefoods makes money across cloud kitchens, restaurants, kiosks, acquired food brands and franchise-led businesses such as Krispy Kreme.
Curefoods
Business Model
How Does Yulu Make Money From Shared Electric Vehicles?
Learn how Yulu makes money from shared electric rides and delivery rentals, and why fleet utilisation, charging, battery costs and ride frequency matter.
Yulu
Business Model
How Does Ola Electric Make Money From EVs and Batteries?
Understand how Ola Electric makes money from EV sales, battery manufacturing and services, using Q1 FY27 deliveries, margins, losses and production trends.
Ola Electric
Business Model
How Will Agnikul Cosmos Make Money From Rocket Launches?
Agnikul Cosmos is developing small rockets for customers that need to place satellites into orbit. The business case rests on flexibility. A small satellite.
Agnikul Cosmos
Business Model
How Does Solar Industries Make Money From Explosives and Defence Products?
Learn how Solar Industries makes money from domestic and export explosives and defence products, using Q1 FY27 sales mix and growth figures.
Solar Industries India
Business Model
How Exponent Energy Is Building a Business Around 15-Minute EV Charging
Learn how Exponent Energy makes money from EV battery systems, 15-minute charging, commercial vehicle partnerships and recurring charging revenue.
Exponent Energy
Business Model
How Does PB Fintech Make Money From Policybazaar and Paisabazaar?
Break down how PB Fintech earns from insurance, renewals and credit distribution, using Q1 FY27 premium, revenue, lending and growth figures.
PB Fintech
Business Model
How Does Jupiter Make Money From Digital Banking and Credit?
See how Jupiter connects bank accounts, cards, loans and investing, and which parts can generate income for the money app.
Jupiter
Business Model
How Does Trent Make Money From Zudio and Westside?
Trent has built two distinct fashion formats. Westside sells a broader lifestyle range at mid-market prices, while Zudio focuses on low-priced fashion and.
Trent
Business Model
How Does Avaada Group Make Money? Power Sales and Solar Manufacturing Explained
Explore how Avaada earns from renewable power projects and solar modules, and why sales within the group need careful reading.
Avaada Group
Business Model
How Will Pixxel Make Money From Satellite Data?
Pixxel is building satellites that capture hyperspectral images. A normal image shows broad colours. Hyperspectral sensors divide reflected light into many.
Pixxel
Business Model
How Does Boldfit Make Money From Fitness Products and Apparel?
Follow Boldfit from yoga mats to fitness gear, shoes and apparel, with its sales channels and verified FY24 financial context.
Boldfit
Business Model
How Does Sarvam AI Plan to Make Money From Indian AI?
Sarvam AI monetises language models, voice agents, document AI and enterprise deployments built for Indian languages and regulated environments.
Sarvam AI
Business Model
How HAL Makes Money From Tejas, Helicopters and Aircraft Maintenance
Learn how HAL makes money from Tejas fighters, helicopters, aero-engines, manufacturing contracts and recurring aircraft repair and overhaul services.
Hindustan Aeronautics
Business Model
How Does MobiKwik Make Money From Payments and Lending?
Learn how MobiKwik makes money from payments and lending services, using its Q1 FY27 segment revenue, contribution and profitability figures.
MobiKwik
Business Model
How Does NEWME Make Money From Gen Z Fast Fashion?
Learn how NEWME makes money through its app, physical stores and quick delivery model, using FY25 revenue and its latest reported store count.
NEWME
Business Model
Reliance Industries Business Model: Oil, Jio and Retail
How Reliance earns across oil-to-chemicals, retail, Jio and oil and gas, with Q1 FY27 figures and the status of new energy.
Reliance Industries
Business Model
How Does BGauss Make Money From Electric Scooters?
Explore BGauss scooter sales, dealership economics, FY26 registrations and the costs that determine whether growth becomes profit.
BGauss
Business Model
How Does Chargebee Make Money From Subscription Billing?
Collecting one card payment is simple. Running a subscription business is not. Prices change, customers upgrade, trials end, invoices fail and revenue must.
Chargebee
Business Model
How Does Battery Smart Make Money? Inside Its EV Battery Swapping Business
Follow one battery swap to see how Battery Smart earns fees and what it spends on partners, batteries, charging and financing.
Battery Smart
Business Model
How Does Groww Make Money From Brokerage and Investments?
Groww earns through stock brokerage, margin funding, asset management and financial-product distribution while using low-cost investing to acquire customers.
Groww
Business Model
Raptee.HV Business Model: T30 Electric Motorcycle
See how Raptee.HV plans to make money from T30 electric motorcycles, why CCS2 charging matters and what its early delivery stage means for revenue.
Raptee.HV
Business Model
Rare Rabbit Business Model: Premium Menswear and Stores
Explore how Rare Rabbit makes money from fashion sold through stores and online, and what House of Rare's latest revenue and channel mix reveal.
Rare Rabbit
Business Model
Pine Labs Business Model: POS, Payments and EMIs
How Pine Labs earns from merchant checkout, payment technology, instalments and issuing platforms, with its latest Q1 FY27 figures.
Pine Labs
Business Model
How Does Bharat Electronics Make Money From Defence Electronics?
Understand BEL’s defence contracts, FY26 revenue, Q1 FY27 results and how its order book turns into delivered electronics.
Bharat Electronics
Business Model
How Does Darwinbox Make Money From HR Software?
Darwinbox sells cloud software that helps large organisations manage employees from hiring to retirement. Because these records and workflows must operate.
Darwinbox
Business Model
How Does Zepto Make Money From Quick Commerce?
Zepto earns from product margins, delivery and platform fees, advertising, memberships and Zepto Cafe. Dark-store productivity determines profitability.
Zepto
Business Model
How Does CG Power Make Money From Motors, Transformers and Industrial Equipment?
Explore how CG Power makes money from motors and grid equipment, using Q1 FY27 sales, order backlog and its early semiconductor investments.
CG Power and Industrial Solutions
Business Model
How Does Snitch Make Money From Fast Fashion for Men?
Learn how Snitch makes money from menswear sold online and through stores, using management-reported FY26 revenue and its changing channel mix.
SNITCH
Business Model
How Does Ultraviolette Make Money From Premium Electric Motorcycles?
Ultraviolette is not trying to win through the cheapest electric two-wheeler. Its F77 motorcycle is positioned around performance, design and technology.
Ultraviolette
Business Model
How Does Whatfix Make Money From Digital Adoption Software?
Companies spend heavily on software but often struggle to make employees use it correctly. Whatfix places guidance inside these applications, showing a user.
Whatfix
Business Model
Dream11 Revenue Model After Paid Fantasy Sports
How Dream11 is trying to earn through advertising and sports engagement after ending paid contests, and what remains unproved.
Dream11
Business Model
How Does Ather Energy Make Money From Electric Scooters?
Ather Energy earns from electric scooters, software, charging, accessories and service. Its economics depend on scale, margins and operating leverage.
Ather Energy
Business Model
How Does INDmoney Make Money? Inside Its US Stocks Business Model
Learn how INDmoney makes money through US stock brokerage, GIFT City infrastructure, Indian broking and financial-product distribution across its platform.
INDmoney
Business Model
How Does Simple Energy Make Money From Electric Scooters?
How Simple Energy earns from scooter deliveries, what it spends on manufacturing and service, and what FY25 figures show.
Simple Energy
Business Model
Razorpay Business Model: Payment Gateway and Business Tools
How Razorpay earns merchant fees for online checkout and payment tools while keeping processed payment value separate from revenue.
Razorpay
Business Model
Policybazaar Business Model: Insurance Sales and Renewals
Learn how Policybazaar earns from insurance distribution, renewals and customer service, and how premiums differ from revenue.
Policybazaar
Business Model
How Does Dixon Technologies Make Money From Electronics Manufacturing?
Dixon manufactures phones, televisions, appliances, lighting products, wearables and telecom equipment for other brands. It is a high-volume business where.
Dixon Technologies
Business Model
How Does BrowserStack Make Money From Software Testing?
A website may work perfectly on one laptop and fail on another phone, browser or operating-system version. Buying and maintaining every possible device is.
BrowserStack
Business Model
How Does ACKO Make Money? The Business Model Behind Its Digital Insurance
How ACKO earns premiums, pays claims and invests its funds, with FY26 figures that explain the economics of its digital insurance business.
ACKO
Business Model
How Does The Whole Truth Make Money From Protein Foods and Clean-Label Products?
How The Whole Truth sells protein foods, earns across product channels and balances rapid FY25 growth with ingredient and marketing costs.
The Whole Truth
Business Model
How Does Jio Platforms Make Money? Telecom, Broadband and Digital Services Explained
Learn how Jio Platforms earns from mobile plans, broadband, enterprise services and digital products built on its network.
Jio Platforms
Business Model
How Does Eternal Make Money? Zomato, Blinkit, District and Hyperpure Explained
Learn how Eternal earns through Zomato, Blinkit, District and Hyperpure, and why each business reports revenue differently.
Eternal Limited
Business Model
How Does Safari Industries Make Money? Luggage Business Model Explained
Learn how Safari Industries makes money from luggage through manufacturing, sourcing, distribution, branding and premium products.
Safari Industries
Business Model
How Does Zomato Make Money in 2026? Business Model Explained
Learn how Zomato earns from restaurant commissions, platform fees and advertising, and why order volume and monetisation drive its profits.
Zomato
Strategy
How Safari Beat VIP: The Rise of India’s New Luggage Leader
How did Safari Industries overtake VIP in India’s luggage market? A look at hard luggage, distribution, inventory mistakes and the strategy behind Safari’s rise.
Safari Industries
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