D2C Cosmetics Startup Menhood’s Records 190% Rise in Profit, Reaches INR 1.84 Cr

NSE Emerge-listed Macobs Technologies, the parent company of D2C brand Menhood, increased its profit after tax by 190% to INR 1.84 crore in the first half of fiscal year 2024-25 (H1 FY25) from INR 63.5 lakh in the same half the previous year, owing to substantial revenue growth and margin improvement.

Dushyant Gandotra founded Menhood in 2019, and it provides male grooming and lifestyle products through its own website and online platforms.  Its products include trimmers, scents, intimate wash, and moisturizer, among others.

Operating revenue increased 86% to INR 16.55 crore during the period under review, from INR 8.90 crore in H1 FY24.

Including other income of INR 3.93 lakh, the company’s total revenue for the first half was INR 16.59 crore.

Related: D2C Beauty Startup Wow Skin Science Releases FY24 Results, Revenue At Rs 233.5 Cr, Losses Down by 24%

The company was listed on the NSE Emerge platform in July of this year. Its IPO included a new issuance of 25.95 lakh equity shares. The company raised INR 19.46 crore through the IPO.

The company stated that it had spent INR 5.45 Cr of the INR 12 Cr set aside for working capital requirements. As of September 30, it had spent the full INR 2 crore budgeted for marketing.

The company’s overall expenses increased 75% year on year to INR 14.13 crore in H1 FY25.

The company’s largest expense was INR 5.59 crore spent on stock purchases, up 51% from INR 3.70 crore spent in the first half of the previous fiscal year.

The company reduced their staff costs by 4% to INR 47.05 lakh from INR 49.11 lakh in H1 FY24.

Ahead of the H1 results announcement, Macobs shares closed today’s trading session 7.68% higher at INR 175.90.

The Jaipur-based company competes with the likes of Bombay Shaving Company, Beardo, Winston Electronics, and others.