How do India’s top founders actually think through a P&L? 

This special episode of #ZeroToInfinity podcast takes you inside Z47’s experimental panel event with India’s leading consumer founders, including voices from Mamaearth, Urban Company, and Mosaic Wellness. 

From CAC to contribution margin, & retention to revenue models, Kishan Kashyap, Avnish Bajaj & Chandrasekhar Venugopal, share insights on what it really takes to build a durable consumer business in India today.

Listen for a break down of the P&L as a series of strategic choices: It starts with revenue, where TAM is reframed as a lens on market creation vs. market share, and demand signals emerge from how India vs. Bharat actually spends. 

Gross margin becomes a moat, shaped by what you build vs. buy. Contribution margin reveals the true cost of platforms, and why owning your channel matters. And finally at the bottomline, it’s about cash, control, and building a business that lasts beyond funding cycles.

Explore the full P&L rethink from an operator founder lens only on the #ZeroToInfinity podcast.

00:25 Introduction

02:32 Breaking Down the P&L of Building Consumer Brands

04:37 Reframing the P&L as Strategic Choices for Founders

04:58 The Revenue Rethink - What & Who are We Really Biulding for?

08:58 Market Creation or Market Share?

12:27 Revenue = Clear Articulation of the Opportunity You're Going After

12:39 Gross Margin Isn't Fixed - It's a Function of the Choices you make 

18:43 Don't Just Hope COGS Will Fail - Design Margin from Day Zero

21:39 Contribution Margin: The True Cost of your Channels

25:13 Q-comm's Biggest Mistake: Chasing Scale, Not Sustainibility

28:44 Find the GTM Unlock: PLG, Word of Mouth & Retention

32:52 Bottom Line: Where your P&L becomes your Reality

34:14 RoCE Matters more than EBITDA

35:27 The ZIRP Era Skewed Founder Behaviour

41:20 Limit your Highs. Ground your Lows. Build with Zen Mode on

Follow us on: 

Website www.z47.com/

LinkedIn www.linkedin.com/company/z47-vc/

Twitter https://x.com/z47_vc

Instagram www.instagram.com/z47.vc/