India, Oct. 14 -- Business-to-business ecommerce unicorn Udaan has flown into rough weather with its growth engine sputtering and revenues going flat.

Once hailed as the digital backbone of India's fragmented wholesale market, connecting manufacturers, brands, traders, and small retailers across categories from FMCG and lifestyle to electronics and pharma counting on its strict fiscal discipline to wriggle out of the fiscal mess and green shoots of revival have started showing.

The company's gross merchandise value (GMV) inched up barely 1.7% to INR 5,706.6 Cr in FY24 from INR 5,609.3 Cr a year before, staggering far below the INR 9,900 Cr peak it scaled in FY22, showed filings by its Singapore-based parent Trustroot Internet. Udaan's c...