New Delhi, Dec 19 (SocialNews.XYZ) Grooming and personal care brand Bombay Shaving Company has suffered a loss of Rs 62.15 crore in FY24, down from Rs 80.25 crore in FY23.
According to data received from the Registrar of Companies (ROC), the company's expenses surged in FY24. The total expenditure of the company increased 12.5 per cent year-on-year to Rs 295.57 crore, from Rs 262 crore in FY23.
In the last financial year, the company's material cost increased 34.39 per cent year-on-year to Rs 118.76 crore. During this period, the company spent Rs 85.90 crore and Rs 36.79 crore on advertising and employee benefits.
The company's delivery and handling expenses declined by 9.41 per cent year-on-year to Rs 18.78 crore in FY24. In the last financial year, the company has spent Rs 35.34 crore on miscellaneous items.
The company's operating income increased by 27.38 per cent year-on-year to Rs 225.85 crore in FY24. It was Rs 177.30 crore in FY23.
At the same time, if other income of Rs 7.6 crore is also included, then the total income of the company in FY24 has been Rs 233.4 crore.
Due to the loss, the company's ROCE and EBITDA margin have been (-) 74.66 per cent and (-) 22.90 per cent. In FY24, the company spent Rs 1.31 to earn one rupee.
The current assets of the company were Rs 203 crore in FY24. This also includes cash and bank balance of Rs 72.5 crore.
According to reports, Bombay Shaving Company has raised a total investment of $51.5 million so far. Its major investors include Sixth Sense Ventures, Colgate-Palmolive, Malabar Investments, Reckitt, and Patni & Family.
Bombay Shaving Company is a D2C grooming and personal care startup whose portfolio includes a wide range of shaving cream, haircare, skincare and beard care products. It is in the grooming segment with Ustraa, Beardo, and The Man Company.
Source: IANS
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