Ustraa is an internet-first brand offering men’s grooming that announced a 2.94 percent decrease in its operational revenue to Rs 94 crore in FY24. The startup offers body wash, hair or beard oil, shampoo, shaving creams, and perfumes. The sale of these products is the company’s primary source of revenue. The startup also provides ayurvedic skincare products and hair styling products.
Entrackr mentioned in its report that the firm also earned Rs 4.7 crore from other sources bringing the total revenue to Rs 94.27 crore in the last financial year. Ustraa earns income through gains from the sales of these products which decreased by 5.1 percent compared to the last fiscal year. The company also receives investment from Info Edge Ventures. The startup was acquired by the personal care brand VLCC in the first quarter of FY24 through a share swap and secondary buyout. The startup also offers other necessities through its online platform. Ustraa provides an online platform for men’s grooming products.
The data intelligence platform, tracxn mentioned that the company’s annual revenue is around $12.1 million, as of March 31, 2023. The company faced challenges in maintaining its growth in the competitive market. The startup noticed a decline in its operational revenue and increased losses for this financial year. The employee benefits saw a 17.5 percent decrease and stood at Rs 20.94 crore while the cost of materials increased by 63.16 percent to Rs 60.4 core in FY24. However, advertisement costs saw a 64.46 percent decrease to Rs 17.09 crore in the same duration.
The total expenditure of the firm increased by 5.1 percent to Rs 144.6 crore in FY24. The startup reported a 25.3 percent increase in its losses which stood out at Rs 50.32 crore in the same duration. Meanwhile, the commission’s cost increased by 43.82 percent to Rs 10.93 crore. The Gurugram-based startup offers quality products while meeting market demands.
Before getting acquired by VLCC the firm raised 10 million USD from its investors including IIFL, Wipro, Info Edge, and others. Entrackr reported the development first. The D2C e-commerce sector saw increased investor interest. The EBITDA margin stood at -51.16 percent while the ROCE was around 284.04 percent in FY24. Ustraa faces competition from other internet-first brands offering men’s grooming products such as Bombay Shaving and Man Matters.
CONCLUSION:
Ustraa is a men’s grooming product offering an online platform that announced a 2.9 percent decrease in its operational revenue to Rs 94 crore in FY24. This Gurugram-based startup offers various products including body wash, shaving cream, ayurvedic skincare products, and perfumes. The sale of these products is the firm’s major source of revenue.
The loss increased by 25.3 percent to Rs 50.32 crore in FY24. The total expenditure of the firm increased by 5.1 percent and crossed Rs 144.6 crore in the same duration. The company plans to minimize its loss by cost-cutting measures. Employee benefits decreased by 17.5 percent and stood at Rs 20.94 crore in FY24.
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