Avimee Herbal reported a revenue of Rs 49.5 crore in FY24, a 70.7% increase from Rs 29 crore in FY23. The company’s net profit rose to Rs 11.5 crore in FY24, compared to Rs 10 crore in FY23, as expenses grew to Rs 35.5 crore in FY24 from Rs 16.9 crore in FY23, reflecting its scale-up investments.
Founded in 2021 and headquartered in Surat, Avimee Herbal is a natural and ayurvedic personal care brand offering hair oils, shampoos, conditioners, scalp treatments, pain relief oils, and skincare products. The company sells its products through its website and other major e-commerce platforms, tapping into the growing consumer demand for clean and herbal beauty products.
Cost of materials constituted the largest share of FY24 expenses at 36.1%, though significantly down from 53.25% in FY23. Advertisement costs rose sharply to 22% in FY24, up from 4% in FY23, as the company invested in brand awareness. Employee benefit costs accounted for 5.7% in FY24, compared to 3.9% in FY23, while depreciation was 1.5% of FY24 expenses, slightly higher than 1.12% in FY23.
Avimee Herbal’s EBITDA margin stood at 30.02% in FY24, down from 42.48% in FY23, reflecting rising marketing and operational costs. Its ROCE also moderated to 53.75% in FY24 from 107.17% in FY23, but remained strong.
The company has not raised any external funding to date. Co-founder Siddhant Agarwal leads the business, while Vibhor Agarwal holds a 33.33% stake, highlighting its bootstrapped and founder-driven nature.
With its strong financial performance and disciplined cost management, Avimee Herbal is emerging as a key player in India’s personal care market, blending ayurvedic wisdom with modern consumer preferences.