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D2C beauty brand Plum turns around in FY25 with Rs 25 Cr PAT

EntrackrEntrackr · 9d ago
D2C beauty brand Plum turns around in FY25 with Rs 25 Cr PAT
Medial

Direct-to-consumer beauty and personal care brand Plum has managed to script a turnaround in FY25, achieving profitability on the back of steady double-digit growth and controlled expenses. Plum’s revenue from operations rose 23.3% to Rs 402 crore in FY25 from Rs 326 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). Founded in 2013, Plum sells skincare, bodycare, fragrances, haircare, and gifting products through its own website and third-party e-commerce platforms such as Amazon and Flipkart. Revenue from product sales continues to be its only operating stream. It also added Rs 17 crore from interest income and gains on mutual funds, which took the company’s total income to Rs 419 crore during the last fiscal year. When it comes to expenses, Plum is no different from other D2C brands as advertising and promotion remained its largest cost at Rs 139 crore in FY25, though this was down 7% from the previous fiscal. Cost of materials consumed stood at Rs 128 crore, while employee benefit expenses rose 20.8% during the fiscal year ending March 2025. During the last fiscal year, storage, commissions, freight, legal, and other overheads pushed its total expenditure to Rs 400 crore. The combination of revenue growth and expense rationalisation helped Plum post a profit after tax of Rs 25 crore in FY25 as against a loss of Rs 84 crore in FY24. On a unit level, it spent Re 1 to earn a rupee of operating revenue during the fiscal year. Profitability metrics also saw a marked improvement with EBITDA margin and ROCE turning positive at 6.22% and 5.3%, respectively. At the end of FY25, the company’s total current assets were valued at Rs 269 crore, including Rs 92 crore in cash and bank balances. Plum has raised over $50 million across rounds, including its $35 million in a Series C round led by A91 Partners with participation from existing investors Unilever Ventures and Faering Capital in March 2022. In the D2C beauty space, Plum competes with Juicy Chemistry, Wow Skin, MamaEarth, and Sugar Cosmetics among many others. Operating in what is clearly a crowded marketplace with both startups and established incumbents, Plum has done well to keep growth going and move into the black. However, keeping it that way will not be easy, considering the nature of the marketplace. The market remains shallow, and for most firms, well penetrated, leaving broader economic growth and expansion as the best hope for the category as a whole. For Plum, that might mean seeking newer avenues like exports, or portfolio tweaks which will not be easy to manage if the focus is to remain on staying profitable. The positioning as India’s first vegan beauty brand is good, but certainly not powerful enough to move customers towards it in ever larger numbers for now. We believe the firm is poised to make a decisive move accordingly, either as an attractive acquisition target, or perhaps, a hopeful sprint towards say, a Rs 1000 crore target by 2030 to deliver for all its stakeholders now.

Insurtech startup Bharatsure raises Rs 6 Cr led by IPV

EntrackrEntrackr · 2m ago
Insurtech startup Bharatsure raises Rs 6 Cr led by IPV
Medial

Bharatsure, an insurtech startup offering infrastructure-as-a-service (IaaS) solutions, has raised Rs 6 crore in a funding round led by Inflection Point Ventures (IPV) with participation from Capital A and Atrium Angels. The proceeds will be used to scale its insurance infrastructure and expand embedded and group insurance offerings across India. Founded by Anuj Parekh and Sanil Basutkar, Bharatsure operates as an Infrastructure-as-a-Service (IaaS) platform that enables businesses, SMEs, and partner-led ecosystems to embed group and modular insurance products directly into their offerings. Its business model revolves around partnering with organizations to provide scalable insurance infrastructure, employee benefits, and wellness solutions, earning revenue through policy distribution, premium commissions, and value-added insurance technology services. With over 1,500 stations and 70,000 drivers in 50 cities, the startup claims to have covered over 2,00,000 lives and processed 10,000 with a 4.9/5 Google rating. It also claims to have doubled revenues in FY25, broken even at CM3, and is targeting Rs 100 crore revenue by FY28. It competes with other Insurtech players like SecureNow, BimaKavach, and Pazcare. Recently, Bharatsure announced a partnership with Battery Smart, a battery-swapping network for EVs, to launch natural calamity insurance for station partners covering fires, floods, earthquakes, and personal accidents.

Go Digit invests Rs 30 Cr in Dr. Reddy’s Lab

EntrackrEntrackr · 7m ago
Go Digit invests Rs 30 Cr in Dr. Reddy’s Lab
Medial

Go Digit invests Rs 30 Cr in Dr. Reddy’s Lab Insurtech company Go Digit has invested Rs 30 crore in pharmaceutical major Dr. Reddy’s Laboratories, acquiring a 0.32% stake in the company. “The investment in shares is being made in the ordinary course of the investment function of the company,” Go Digit said in an exchange filing. Established in 1984 by Kallam Anji Reddy, Dr. Reddy's Laboratories is an Indian multinational pharmaceutical company that manufactures and markets affordable medicines. It provides a portfolio of products and services, including active pharmaceutical ingredients (APIs), custom pharmaceutical services (CPS), generics, biosimilars and differentiated formulations. Founded in 2017 by Kamesh Goyal, Go Digit is a full-stack digital insurance company that offers a wide range of non-life insurance policies across sectors such as motor vehicle, health, travel, and property, among others. Go Digit’s profit after tax (PAT) surged 176.46% year-on-year (YoY) to Rs 118.52 crore in Q3 FY25, driven by steady revenue expansion and a controlled rise in operating expenses. As of December 31, 2024, Go Digit’s assets under management stood at Rs 18,939 crore. Go Digit competes with other notable players like Acko, ICICI Lombard, Bajaj Allianz, Tata AIG, among others.

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