Bombay Shaving is a D2C startup that provides an online multi-category product offering platform. The company manufacturing grooming products announced its operating revenue of Rs 225.9 crore in FY24. The startup provides products including shaving cream, skincare, face wash, and more to its customers. These products and subscription services are the company’s primary source of revenue. The startup uses ingredients to offer high-quality products.
The firm also earned Rs 7.6 crore from its interest income which pushed the total revenue to Rs 233.4 crore in FY24. The company has secured around $51.5 million across multiple funding rounds since its inception. This includes $2.88 million raised during its venture debt funding round from Alteria Capital. The company also received $5.1 million from Vardhaman Patni Trust, Adeesh Patni Trust, and others during its series C funding round in 2023. The firm offers multi-category grooming products for men. The company also provides perfumes and hair care products.
Bombay Shaving offers products including shaving foam, sunscreens, Serums, razors, and more. This company claims to provide its products through e-commerce and online platforms. The cost of materials increased by 32.39 percent and crossed Rs 118.76 crore in FY24. However, the delivery and handling cost decreased by 9.41 percent to Rs 18.78 crore in the same duration. The advertising cost was around Rs 85.90 crore in this financial year.
The firm’s total expenditure increased by 12.5 percent to Rs 295.6 crore in FY24. The company offers its services through both online platforms and offline stores. The employee benefits crossed Rs 36.79 crore for this fiscal year. Bombay Shaving has around 29 institutional investors including Sixth Sense Ventures, Colgate Palmolive, and Malabar Investments. The existing investor, Sixth Sense Ventures is the company’s largest institutional investor.
The Gurugram-based firm aims to improve its business model while offering high-quality products to strengthen its position in the personal care and grooming sector. The startup has current assets of Rs 203 crore with cash and bank balance of Rs 72.5 crore in FY24. The employee benefits have increased compared to the last year. The EBITDA margin stood at -22.90 percent while the ROCE was around –74.66 percent. Bombay Shaving faces competition from other grooming personal care brands such as Ustraa, Man Matters, Mars by GHC, and Singh Styled.
Conclusion :
Bombay Shaving posted an increase in its revenue from operations by 27.4 percent to Rs 225.9 crore in FY24. The company offers grooming and personal care products like shaving cream, razors, and more. The firm posted a growth of 12.5 percent in its total expenses reaching Rs 295.6 crore for FY24. In addition to this, the company also provides products including perfumes, fash wash, and sheet masks from its online store.
Sales of these grooming and personal care products are the company’s revenues. The loss also decreased by 22.6 percent and stood at Rs 62.15 crore for this fiscal year. The company plans to minimize its losses through cost-cutting measures. The company has secured over 51.5 million USD across multiple funding rounds since its inception.
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