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Oziva records flat growth under Hindustan Unilever in FY24

EntrackrEntrackr · 1y ago
Oziva records flat growth under Hindustan Unilever in FY24
Medial

D2C nutrition brand Oziva, which was acquired by FMCG giant Hindustan Unilever (HUL) in 2022, posted a flat scale during the fiscal year ending March 2024. Following a 20% decline in sales during FY23, the D2C nutrition brand posted a flat scale with a modest 4% increase to Rs 104 crore in FY24, the annual report of its parent company HUL shows. HUL said that Oziva recorded Rs 44 crore loss in the last fiscal year. In FY23, the firm registered a net profit of Rs 58.8 crore due to one-time gain of Rs 95.5 crore. However, if we exclude that other income, its losses stood at Rs 45.8 crore in FY23. This implies, Oziva’s scale and loss remained flat in the last financial year (FY24). It’s worth noting that it is the first full fiscal year for Oziva under Hindustan Unilever. The six-year-old D2C firm sells plant-based nutrition products for health, skin, hair, and general wellness. The sale of health and nutrition products was the sole revenue driver for the company. The company has raised around $17 million to date with the backing of Matrix Partners, Eight Road Ventures, and Stride Ventures. In December 2022, HUL acquired 51% stake in Oziva with the first tranche at a cash consideration of Rs 264.28 crore ($32 million). As per the annual report, Oziva was valued at Rs 361 crore ($43.5 million) using the multi-period excess earnings method. At the same time, HUL also acquired 19.8% of the stake in Wellbeing Nutrition for a cash consideration of Rs 70 crore. Founded by Avnish Chhabria, Wellbeing Nutrition is a whole-food nutrition company that uses plant-based ingredients to deliver wellness to individuals. The company is yet to disclose its FY24 results.

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Related News

Oziva revenue grows 2.5X in FY25; cuts losses by 90%

EntrackrEntrackr · 16d ago
Oziva revenue grows 2.5X in FY25; cuts losses by 90%
Medial

After reporting flat growth in FY24, HUL-acquired nutrition and wellness brand Oziva recorded a 2.5X increase in operating revenue. The company also narrowed its losses by 90%, even as expenses rose 75% on account of higher advertising and material costs. Oziva’s revenue from operations jumped 148% to Rs 258 crore in FY25 from Rs 104 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). The firm generates revenue from nutrition and wellness products across categories such as plant-based supplements, protein, and vitamins. These products contributed 99% of its revenue, with the Indian market being the sole revenue source for Oziva. On the expense front, advertising remained the single largest cost element, ballooning 94% to Rs 120 crore in FY25 from Rs 62 crore in FY24. Cost of material consumed rose 58% to Rs 71 crore, while employee benefit expenses grew 44% to Rs 23 crore. Transportation cost more than doubled to Rs 24 crore, whereas finance cost remained flat at Rs 1.2 crore. Overall, Oziva’s total expenses rose 75% to Rs 267 crore in FY25 from Rs 153 crore in FY24. With revenue outpacing expense growth, the company slashed its losses by 90% to Rs 4.5 crore in FY25 from Rs 43.5 crore in FY24. Its ROCE and EBITDA margin stood at -7.50% and -1.21%, respectively. On a unit level, Oziva spent Rs 1.04 to earn a rupee in the last fiscal year. As of March 2025, the Mumbai-based company recorded current assets worth Rs 104 crore including Rs 27 crore in cash and bank balances. In December 2022, HUL acquired a 51% stake in OZiva with the first tranche at a cash consideration of Rs 264.28 crore. The company will acquire the remaining 49% stake after the expiry of three years from the completion of the first tranche. According to TheKredible, the company’s co-founders Aarti Gill and Mihir Gadani together own 36.22% of the company.

Hindustan Unilever in talks to acquire Minimalist for Rs 3,000 Cr

EntrackrEntrackr · 9m ago
Hindustan Unilever in talks to acquire Minimalist for Rs 3,000 Cr
Medial

Hindustan Unilever in talks to acquire Minimalist for Rs 3,000 Cr Founded by serial entrepreneurs Mohit and Rahul Yadav, Minimalist is a skin and hair care brand offering products such as serums, toners, and moisturizers. Hindustan Unilever Limited (HUL), a fast-moving consumer goods company, is reportedly in advanced discussions to acquire a majority stake in the skincare startup Minimalist for approximately Rs 3,000 crore (more than $350 million). Moneycontrol, which reported the development first, said that it would also be one of the largest deals in the direct-to-consumer (D2C) space in recent years. Minimalist retails through its own website as well as third-party e-commerce platforms like Amazon, Nykaa, and Flipkart, among others. In response to queries from Entrackr, an HUL spokesperson said, “In line with our business strategy, on an ongoing basis, we evaluate various strategic opportunities for the growth and expansion of our business. We will make appropriate disclosures whenever there is any material development that requires disclosure under applicable laws.” Queries sent to Minimalist did not receive an immediate response. Minimalist’s revenue from operations surged to Rs 347 crore in FY24, up from Rs 184 crore in FY23. Despite increasing marketing costs, the company’s profits jumped two-fold to Rs 10.83 crore in the last fiscal year. Minimalist has raised around $17 million to date, including its Series A round led by Peak XV (formerly Sequoia Capital), which holds a 27.9% stake as the largest external shareholder. Its co-founders, Mohit and Rahul Yadav, together control 62% of the company, as per TheKredible. In December 2022, HUL acquired a 51% stake in D2C brand Oziva for a cash consideration of Rs 264.28 crore.

Beauty, wellbeing, mini meal: HUL eyes high-growth segments to boost demand | Company Business News

LivemintLivemint · 10m ago
Beauty, wellbeing, mini meal: HUL eyes high-growth segments to boost demand | Company Business News
Medial

Consumer goods company Hindustan Unilever Ltd (HUL) has revealed a new strategy focused on capitalising on increasing household income and consumer preference for premium products. HUL has identified six high-growth segments, including premium face care and premium hair care, that contributed ₹7,000 crore in revenue during FY24. The company expects these markets to double or quadruple over the next ten years, driven by rising GDP and disproportionate FMCG growth. HUL aims to achieve double-digit earnings per share growth through top-line performance and premiumisation. It plans to prioritise its core portfolio, future core brands, and market makers to tap into future trends.

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