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Juicy Chemistry’s scale dwindles 21% in FY23, losses rise 11%

  • June 6, 2024
  • By Team TheKredible
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Skin and personal care brand Juicy Chemistry witnessed its revenue dwindling 21% to Rs 19.7 crore in FY23.

Following the decreased revenue, its revenue from operations as well slowed about 24% to about Rs 18 crore, contributing just above 90% the same year. While the sale of products was the major contributor, shipping charges also pitched in a little over 2%.

Previously in FY22, its operating revenue stood at Rs 23 crore with the sale of products and shipping charges contributing to it.

Founded by Megha Desai Asher, JuicyChemistry D2C skin care brand that offers a range of skincare products consisting of cleansers, moisturizers, floral waters etc.

It majorly competes against the likes of Sugar Cosmetics, Mamaearth, and Plum.

The brand’s expenses for the fiscal year ending March 2023 shrunk 14% to Rs 28 crore as compared to FY22’s Rs 32 crore. While advertisement and promotional costs took up over 33% of this, material costs and employee benefit costs contributed over 25% and close to 10% respectively.

The decade old firm’s last fundraise was conducted in mid 2021. The extended Series A round secured about Rs 4.45 crore led by Spring Marketing Capital.

A couple of months prior, in March 2021, the firm had raised its Series A round led by Verlinvest.

A majority of the Chennai based startup’s shares are held by Promoters, while Amit Nanavati holds over 20%. Verlinvest and Purplle are also major key stakeholders of the company.

Contrary to the drop witnessed in Juicy Chemistry’s revenue and expenses in FY23, its losses recorded a 11% rise to Rs 8.2 crore as compared to FY22’s Rs 7 crore. Its current EBITDA and ROCE stand at -38.64% and -27.43%.