Highlights
Nat Habit
Nat Habit, a personal care startup dedicated to fresh and natural beauty products, experienced an 80% increase in revenue for the fiscal year ending March 2024. Even with this significant growth, the company’s net losses showed minimal change during the same period.
Financial Overview
The operations revenue for Nat Habit climbed 80% to Rs 72 crore in FY24, up from Rs 40 crore in FY23, as outlined in its financial documentation sourced from the Registrar of Companies (RoC).
About Nat Habit
Founded in 2018 by Swagatika Das and Gaurav Agarwal, Nat Habit provides Ayurvedic personal care items such as shampoos, face washes, and moisturisers. Sales from these products were the exclusive source of revenue for the company in FY24.
Expense Analysis
Advertising costs were identified as the largest expense, increasing by 38.5% to Rs 36 crore, making up nearly 40% of total outgoings. Additionally, employee benefits rose to Rs 14 crore, more than doubling from Rs 6.5 crore in FY23. Raw material expenses reached Rs 12 crore, while transportation and other operating expenses were reported at Rs 11 crore and Rs 18 crore, respectively, during the fiscal year.
Total Expenses
Overall, the company’s total expenses grew by 65.5% to Rs 91 crore in FY24, compared to Rs 55 crore in FY23. A detailed breakdown of expenses can be consulted through various sources available.
Losses and Performance Metrics
Despite the revenue growth outpacing expenses, the net losses remained largely unchanged at Rs 17.75 crore in FY24, slightly up from Rs 17.6 crore in FY23. The Return on Capital Employed (ROCE) and EBITDA margin were recorded at -24.65% and -21.58%, respectively. The company spent Rs 1.26 to generate one rupee of operating revenue in FY24, in contrast to Rs 1.38 in FY23.
Assets Overview
Based in Gurubram, the company reported current assets valued at Rs 58 crore in FY24, which included Rs 41 crore in cash and bank balances.
Nat Habit has successfully raised approximately $16 million in funding to date, with Peak XV Partners, Fireside Ventures, and Whiteboard Capital serving as lead investors. The co-founders, Swagatika Das and Gaurav Agarwal, collectively own 33.1% of the company.
In FY24, Nat Habit repurchased around 6 lakh shares at a price of Rs 250 each, aiming to improve its ownership structure and enhance shareholder value. Concurrently, the company significantly increased its authorised share capital from Rs 3.51 crore to Rs 29.3 crore, potentially to position itself for future fundraising efforts.
