India’s wearables market has entered a new phase, shifting from hyper-growth to sustainable scale. In FY25, while established players like boAt and Noise reported flat or declining revenues, GoBoult Audio stood out by taking a disciplined route—tightening cost controls and focusing on profitability. The company reported revenue of ₹763 crore, up 10% year-on-year, with material costs down 2.7% to ₹391 crore, employee expenses rising 29.6% to ₹35 crore, and advertising spend increasing 9.3% to ₹177 crore. Most notably, net profit surged to ₹24 crore compared to just ₹2.5 crore in FY24, with EBITDA margin at 6.6%. Founded in 2017, GoBoult designs and sells wireless earbuds, headphones, smartwatches, and speakers, and has remained unfunded—proving that disciplined execution can rival venture-backed rivals. 

In comparison, boAt posted flat revenue at ₹3,073 crore with profit of ₹60.4 crore, while Noise saw revenue fall 24% to ₹1,048 crore with profit of ₹3.2 crore. The bigger picture is clear: India’s wearables market is no longer about chasing scale at any cost, but about protecting margins and building sustainable businesses. GoBoult’s FY25 performance reflects this shift—growth may have slowed, but profitability has strengthened, and in today’s environment, that matters more.   a