Personal care e-commerce platform mCaffeine recorded a revenue of Rs 210.1 crore in FY23, about 54% rise as compared to the previous fiscal year. It saw over Rs 200 crore coming in from operations in the fiscal year ending March 2023.
Based out of Mumbai, mCaffeine was established by Tarun Sharma and as a personal care brand that offers caffeine-infused skincare and haircare products. It offers products including face washes, face scrubs, moisturizers, shampoos, and hair serums, all of which contain caffeine as a primary ingredient and claims to have cruelty-free sustainable products. Apart from selling its products through the website, mCaffeine products are also available through various e-commerce platforms.
The company’s expenses rose 1.6X to Rs 301.7 crore in FY23 as compared to FY22’s Rs 192.4 crore. Advertisements and promotional costs and employee benefits were among the topmost expenses of the company spending over Rs 120 crore and close to Rs 40 crore of the segments respectively. The previous fiscal year, mCaffeine spent over Rs 70 crore and more than Rs 20 crore on each of the segments.
Its losses ballooned about 61% to Rs 91.6 crore in the fiscal year ending March 2023. Its EBITDA margins and ROCE stood at a negative 42.98% and -118.65% respectively.
As for the shareholding of the company, founders Tarun Sharm and Vikas Lachhwani holds an almost equal share of over 12% of the company while investor Amicus Capital is the largest shareholder of mCaffeine. Amicus Capital has led about three funding rounds of the company.