The Man Company, a men’s grooming and personal care brand owned by Emami, has experienced a modest increase in revenue during the fiscal year ending March 2026. However, rising expenditures have significantly impacted its financial performance, leading to a 48.7% surge in losses. According to a regulatory document reviewed by Startup Superb, The Man Company’s operational revenue grew by 4.5%, reaching Rs 161.17 crore in FY26, compared to Rs 154 crore in the previous year.
Based in Gurugram, this firm focuses on manufacturing and marketing grooming essentials across various categories, including skincare, haircare, beard care, fragrances, and other personal care products. Additionally, it reported Rs 12 lakh in non-operating income, bringing its overall income to Rs 161.29 crore for the year.
The company faced its largest expense from the cost of materials consumed, which increased by 12.9% to Rs 64.15 crore, up from Rs 56.82 crore a year ago. While employee benefit expenses fell by 8.5% to Rs 21.24 crore, finance costs rose significantly by 26% to Rs 4.07 crore. Furthermore, other expenses increased by 13.6%, reaching Rs 101.68 crore.
The escalated spending in key areas contributed to a 9.6% rise in total expenditure, amounting to Rs 194 crore in FY26, compared to Rs 177 crore in FY25. The firm’s losses widened by 48.7% to Rs 32.54 crore in FY26 from Rs 21.88 crore in the prior fiscal year. Its EBITDA margin also deteriorated to -15.91%, compared to -9.66% the previous year.
On a unit basis, The Man Company incurred Rs 1.20 to generate one rupee of operating revenue during FY26, an increase from Rs 1.15 in FY25. At the fiscal year’s close, it had Rs 4.09 crore in cash and bank balances, with current assets standing at Rs 46 crore.
Emami finalized its acquisition of a 100% stake in The Man Company in July 2024, following seven years since its initial investment. The FMCG giant first acquired a 30% stake in 2017, gradually increasing its holding over the years. By 2022, it secured majority ownership with a 50.4% stake before acquiring the remaining shares in July 2024, thus achieving full ownership of the D2C brand.
In the competitive landscape, The Man Company faces rivals such as Beardo and Ustraa. Beardo reported an operational revenue of Rs 214 crore and a profit of Rs 13 crore in FY25. Ustraa registered Rs 73 crore in operational revenue and successfully narrowed its losses to Rs 14 crore. Financial results for both competitors in FY26 are still pending release.