Results · Commerce & Consumer Brands

The Man Company posts wider FY26 loss despite revenue growth

What they do

The Man Company sells men's skincare and grooming products directly to consumers

FY26 net loss widened 48.7% to Rs 32.54 crore as total expenditure rose 9.6%

Emami owns the company fully since its 2024 acquisition, contrasting with profitable rival Beardo

The Man Company reported a Rs 32.54 crore net loss for fiscal year 2026.
This loss represents a 48.7% widening compared to the Rs 21.88 crore deficit in FY25.
Revenue grew modestly by 4.5% to reach Rs 161.17 crore from Rs 154 crore.
Total expenditure increased by 9.6% to Rs 194 crore, outpacing revenue growth.
The cost per rupee of revenue rose to Rs 1.20 from Rs 1.15 in the previous year.
EBITDA margin deteriorated significantly to -15.91% from -9.66% in FY25.
Cash and bank balances stood at just Rs 4.09 crore at the end of the period.
Current assets were recorded at Rs 46 crore against higher operational costs.

Rising material costs and other expenses drove the profitability decline despite sales growth.
The company faces stiff competition from rivals like Beardo which posted profits.
Financial pressure highlights challenges in scaling direct-to-consumer grooming brands profitably.

The company operates as a direct-to-consumer (D2C) brand based in Gurugram.
It offers a range of products including skincare, haircare, and beard care items.
The product portfolio also includes fragrances targeting male consumers.
Material costs accounted for Rs 64.15 crore, showing a 12.9% increase.
Employee benefits costs decreased by 8.5% to Rs 21.24 crore.
Finance costs rose by 26% to Rs 4.07 crore during the fiscal year.
Other expenses surged by 13.6% to reach Rs 101.68 crore.
The business model relies on selling personal care goods directly to end users.

Emami (owner) — Emami acquired full ownership of The Man Company in July 2024 after previously holding minority stakes.