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The year 2025 offered India’s listed tech startups a chance to change their narrative of growth-at-all-costs to sustainable growth and prove their resilience.
After the euphoric IPO rush of 2021-24, the public market got used to the way tech-first startups function and the new business metrics that defined these digital-first firms better such as adjusted EBITDA margin, NOV and contribution margin.
The growth-at-all-costs narrative that once commanded sky-high valuations was brutally battered in quarterly performances in 2025 by soaring…
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