SUMMARY
- Beardo’s revenue from operations rose 62.4% to Rs 173.2 crore in FY24.
- Total expenses grew by 46.1% to Rs 168.4 crore in FY24 from Rs 115.3 crore in FY23.
- The brand posted a profit of Rs 3.63 crore in FY24.
Men’s grooming brand Beardo‘s revenue from operations rose 62.4% to Rs 173.2 crore in FY24 from Rs 106.6 crore in FY23 according to its annual financial reports accessed from the Registrar of Companies (RoC).
Beardo’s beard care products, include oils, combs, wax, and facial cleansers, as well as soaps and lotions, which are sold through its website, various marketplaces, and retail outlets. These products were the main source of the company’s income.
The product procurement cost accounted for 40% of its total expenses. This expense increased by 83.2% to Rs 67.5 crore in FY24 from Rs 36.8 crore in FY23.
Advertising and employee benefits cost were steady at Rs 43.89 crore and Rs 12.5 crore, respectively. Costs related to transportation, legal fees, freight, and other indirect expenses brought up the total expenses by 46.1% to Rs 168.4 crore in FY24 from Rs 115.3 crore in FY23.
Marico-owned Beardo’s growth in scale and cost cutting led to a return to profitability, with a profit of Rs 3.63 crore in the year under review from a loss of Rs 6.1 crore in FY23. Its ROCE and EBITDA margin were 75.58% and 4.21%, respectively. On a per-unit basis, Beardo spent Rs 0.97 to generate a rupee in revenue in FY24.
Ustraa, The Man Company, and Bombay Shaving Company are among its major competitors. Ustraa reported a 2.94% drop in revenue to Rs 94.02 crore, with a loss of Rs 50 crore in FY24. Bombay Shaving Company saw its revenue grow to Rs 182 crore in FY23 and is aiming for a revenue target of Rs 260-280 crore in FY24. The Man Company posted Rs 185 crore revenue in FY24.
