Gurugram based Innovist, the parent company of personal care brands Bare Anatomy, Chemist at Play, Sunscoop, and Vinci Botanicals, delivered a strong financial turnaround in FY25, crossing the ₹300 crore revenue mark and reporting profitability for the first time.
According to Innovist’s consolidated filings with the Registrar of Companies (RoC), the company’s operating revenue surged 2.8x year-on-year to ₹299 crore in FY25, compared with ₹105.8 crore in FY24. The sale of haircare and skincare products remained the core revenue driver, contributing ₹291.5 crore, or nearly 98% of total operating income, while shipping receipts added ₹7.6 crore. Including interest income and other non-operating revenue of ₹2.34 crore, total income stood at ₹301.4 crore.
Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist has built a diversified D2C portfolio focused on science-backed personal care solutions. The company’s rapid scale-up, however, came alongside elevated costs. Advertising expenses rose 2.5x to ₹136.5 crore, accounting for over 45% of total expenditure, while raw material costs increased 2.6x to ₹78.5 crore.
Warehousing expenses nearly tripled to ₹24 crore, and commission payouts to sourcing agents jumped sharply to ₹15.5 crore. Employee benefit expenses remained relatively lean at ₹15 crore, around 5% of overall costs. Including logistics, rent, IT, and professional fees, total expenses reached ₹301 crore during the year.
Despite the cost pressures, Innovist benefited from scale-led efficiencies and ₹11.8 crore in deferred tax income, enabling it to post a net profit of ₹12 crore in FY25, compared with a ₹12.5 crore loss in the previous year. EBITDA turned positive at ₹1 crore, with margins improving to 0.42%.
As of March 2025, Innovist reported current assets of ₹116 crore, including ₹46 crore in cash and bank balances. Backed by investors including ICICI Venture and Accel, the company has raised $30 million to date, positioning it well as India’s D2C personal care sector shows early signs of recovery.
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