Mosaic Wellness Growth and Financial Performance in FY25

Mosaic Wellness, known for its digital-first health and wellness brands including Man Matters and Bodywise, experienced a remarkable growth phase in FY25. This period not only saw the company’s scale more than double but also significantly reduced its losses for the fiscal year ending March 2025.

Financial Overview of Mosaic Wellness

The operating revenue for Mosaic Wellness surged 2.2 times to Rs 736 crore in FY25, a notable increase from Rs 333 crore in FY24, based on consolidated financial statements obtained from the Registrar of Companies (RoC). This digital-first consumer health platform manages different brands targeting men, women, and children, with its flagship brand, Man Matters, providing solutions in areas such as dermatology, sexual health, hygiene, and nutrition.

Revenue Sources and Other Earnings

While the company has not broken down revenue by brand, the sale of health and wellness products was the sole income source for Mosaic Wellness in FY25. Additionally, the company garnered Rs 13 crore from interest on deposits and gains from investment sales, leading to a total revenue of Rs 749 crore for the last financial year.

Expense Analysis

The advertising expenditures constituted the largest cost for the company, rising to account for 35% of total expenses. This cost nearly doubled, reaching Rs 267 crore in FY25, up from Rs 138 crore. The expenditure on materials also significantly increased to Rs 193 crore, representing over 25% of the total outlay. Employee benefit expenses remained constant at Rs 63 crore in FY25.

Overall Expenses and Loss Mitigation

Mosaic Wellness’ total expenses doubled to Rs 758 crore in FY25, compared to Rs 380 crore in FY24. With revenue growth outpacing expenses, the company successfully reduced its net loss by 69%, bringing it down to Rs 12 crore in FY25 from Rs 39 crore in FY24. The ROCE and EBITDA margins stood at -6.55% and -2.79%, respectively.

Operational Efficiency

In FY25, Mosaic Wellness spent Rs 1.03 to generate a rupee of operating revenue, an improvement from Rs 1.14 in the previous year. By the end of the fiscal year, the firm had Rs 49 crore in cash and bank balances, while current assets nearly doubled to Rs 325 crore.

Funding and Company Ownership

According to multiple sources, Mosaic Wellness has successfully raised a total of $63 million in funding to date, attracting prominent investors such as Elevation Capital, Peak XV Partners, and Matrix Partners. The co-founders, Revant Bhate and Dhyanesh Shah, retain approximately 35% ownership of the company.