Acquisition · Commerce & Consumer Brands

Marico acquires 60% stake in Cosmix

By Startup Enthusiast · 5 February 2026

What they do

Cosmix makes plant-based protein supplements like bars and multivitamins

Marico bought a 60% majority stake in the bootstrapped, profitable brand

Cosmix reported Rs 50.93 crore revenue and Rs 8.21 crore profit in FY25

Marico has acquired a 60% majority stake in Cosmix, a plant-based protein supplements brand.
Cosmix is a digital-first nutrition company that sells protein bars, protein pancakes, multivitamins, and immunity boosters.
The brand is bootstrapped and profitable since its inception in 2019.
Cosmix reported FY25 revenue of Rs 50.93 crore, up from Rs 24.2 crore in FY24.
Its FY25 profit was Rs 8.21 crore, compared to Rs 2.83 crore in FY24.
The company's ARR (annual recurring revenue) is Rs 100 crore.
Cosmix spends Rs 0.78 to earn a rupee, indicating strong unit economics.
The acquisition adds to Marico's growing D2C portfolio, which includes Plix, True Elements, Just Herbs, and Beardo.

FMCG companies are increasingly acquiring D2C startups: HUL bought Minimalist, ITC bought Yoga Bar, VLCC bought Ustraa, and Emami bought The Man Company.
Marico recently also acquired snacking brand 4700BC.
Cosmix's EBITDA margin of 22.48% and ROCE of 99.39% show high profitability and capital efficiency.
The deal gives Marico a foothold in the fast-growing plant-based nutrition segment.

Cosmix is a plant-based protein supplements brand with a digital-first approach.
Its product range includes protein bars, protein pancakes, multivitamins, and immunity boosters.
The company sells through its own website and third-party online marketplaces.
Cosmix is bootstrapped and profitable since its founding in 2019.
It is based in Bengaluru and was founded in 2019.
In FY25, advertising expense was Rs 13.52 crore, which is 34% of total expenditure.
Cost of materials was Rs 11.2 crore, and employee benefits expense was Rs 3.45 crore (8.72% of total costs).
Total expenses in FY25 were Rs 39.52 crore.
The company had current assets of Rs 16.45 crore and cash and bank balances of Rs 4.69 crore in FY25.