D’Moksha Homes reported a revenue of Rs 14.01 crore in FY24, a 13.4% decline from Rs 16.18 crore in FY23. The company reported a net loss of Rs 1.08 crore in FY24, a significant drop from a profit of Rs 31,000 in FY23. Expenses dropped by 5.5% to Rs 15.27 crore in FY24, compared to Rs 16.16 crore in FY23.
Founded in 2020 and headquartered in Mumbai, D’Moksha Homes specializes in handcrafted and eco-friendly home linens made from sustainable materials like linen, hemp, and lyocell. The startup primarily serves customers in the US, Canada, and Mexico through the Amazon Global Selling program.
Advertisement costs continued to be the largest expense category in FY24, accounting for 38.11% of total expenses, slightly lower than 38.67% in FY23. Employee benefit costs increased to 5.17% in FY24 from 1.79% in FY23, reflecting investments in human resources. The cost of materials decreased to 8.9% in FY24, compared to 13.61% in FY23. Other expenses grew to 45% of FY24 expenses from 42.75% in FY23, while depreciation and finance costs stood at 0.45% and 0.65% of FY24 expenses, respectively.
D’Moksha Homes’ EBITDA margin declined to -7.71% in FY24 from 1.54% in FY23, signaling a challenging operational environment. The company’s return on capital employed (ROCE) also dropped sharply to -31.49% in FY24 from 3.65% in FY23, underscoring its struggle to maintain profitability.
The company has raised a total of Rs 4.23 crore in funding, with its latest seed round completed in October 2021. Co-founders Nimisha Dhanda (38%) and Manav Dhanda (35.76%) hold the majority stakes.