Skip to main content

Market Research Outlook

  • Sign In
  • Register
plum-Beauty product

Plum's Revenue Crosses Rs 500 Crore as Profit Nearly Doubles in FY26

Bengaluru-based D2C beauty brand Plum closed FY26 with revenue past the Rs 500 crore mark and profit nearly double what it was a year earlier, a sign of how competitive India’s D2C beauty market has become as the sector consolidates.

Revenue from operations grew 28 percent to Rs 515 crore, up from Rs 402 crore in FY25. Founded in 2013, Plum sells skincare, bodycare, fragrances, haircare and gifting products through its own website as well as Amazon, Nykaa and Flipkart. Product sales accounted for all of its operating revenue; on top of that, the company earned Rs 14.3 crore from interest and mutual fund gains, bringing total income to Rs 529.3 crore.

Spending kept pace with growth. Advertising and promotion costs, the company’s single biggest expense, rose more than 32 percent to Rs 184.4 crore. Material costs climbed 28 percent to the same figure, Rs 184.4 crore, while employee expenses grew 12 percent to Rs 47.6 crore. Add in warehousing, commissions, transport and legal costs, and total expenditure for the year came to Rs 481 crore.

Even so, profit rose sharply: net profit hit Rs 49 crore, up from Rs 25 crore in FY25. Plum spent 93 paise for every rupee of operating revenue it brought in. Its EBITDA margin came in at 8.12 percent, and return on capital employed rose to 13.2 percent. The company ended the year with Rs 305.6 crore in current assets, including Rs 92 crore in cash and bank balances.

Plum has raised more than $50 million across several funding rounds since launch, the largest being a $35 million Series C in March 2022 led by A91 Partners, with Unilever Ventures and Faering Capital also participating. It competes in a crowded field that includes Juicy Chemistry, WOW Skin Science, Mamaearth and SUGAR Cosmetics.


Market Research Outlook:Plum’s 28% revenue growth and near-double profit show India’s D2C beauty market shifting from cash-burn growth to profitability. Rising ad costs (+32%) mean scale, not funding, is now the moat. Expect further consolidation as smaller D2C brands struggle to match this efficiency.