Results · Commerce & Consumer Brands

Kapiva reports 50% revenue growth in FY25

By Startup Enthusiast · 2 January 2026

What they do

Kapiva sells ayurvedic nutrition products for diabetes, liver health and wellness

Revenue rose 50% to Rs 342 crore in FY25, but net loss widened 23% to Rs 69 crore

Advertising spend was 45% of total expenses, and the company spent Rs 1.22 to earn every rupee

Kapiva's revenue from operations grew 50% year-on-year to Rs 342 crore in FY25.
Total income for FY25 was Rs 349 crore, including Rs 7 crore of non-operating income.
Net loss increased 23% to Rs 69 crore from Rs 56 crore in FY24.
Total expenses rose 44% to Rs 418 crore from Rs 290 crore in FY24.
Advertising and promotional spend jumped 53% to Rs 188 crore, accounting for 45% of total expenses.
Cost of materials consumed was Rs 97 crore, up 43% from FY24, representing 23% of total costs.
Employee benefit expenses grew 28% to Rs 59 crore.

The company spent Rs 1.22 to earn every rupee in FY25, an improvement from Rs 1.27 in FY24.
EBITDA margin stood at -20.88% and ROCE at -51.41%.
Kapiva's cost of materials at 23% is low compared to peers, who typically spend above 30%.
The brand's Shilajit-focused portfolio has been questioned for its effectiveness.

Kapiva is an ayurvedic nutrition brand founded in 2015.
Its product range covers diabetes, hypertension, liver health, hormonal balance, wellness, energy and sports nutrition.
Revenue comes solely from product sales through online platforms and marketplaces.
The company operates on a direct-to-consumer (D2C) model.

Product: D2C ayurveda brand
Customers: Consumers seeking evidence-based ayurvedic nutrition and wellness products
How it makes money: Direct-to-consumer brand selling ayurvedic supplements, gummies and skincare online
What sets it apart: Modern positioning of ayurveda with clinical validation and wide retail reach