Hygiene and wellness brand Pee Safe reported a revenue of Rs 57.26 crore in FY24, a 40% increase from Rs 40.7 crore in FY23. However, the company’s net loss widened to Rs 13.17 crore in FY24, compared to Rs 11.37 crore in FY23, as expenses grew by 34.7% to Rs 70.2 crore from Rs 52.11 crore in the previous fiscal year.
Over 98% of its revenue was derived from operations, down from over 99% in FY23. More than 90% of its operating revenue came from domestic sales in FY24, while the remaining 10% was generated from exports.
Founded in 2017 and headquartered in Gurugram, Pee Safe started with its flagship Toilet Seat Sanitizer Spray to address the risks of UTIs and infections in public restrooms. Over the years, it has evolved into a personal hygiene and FMCG brand, catering to women’s hygiene needs from puberty to menopause.
Employee benefit costs accounted for 16.05% of FY24 expenses, down from 17.94% in FY23. Advertisement costs saw a significant rise, making up 32.16% of FY24 expenses, compared to 26% in FY23. The cost of materials declined slightly to 29.61% in FY24 from 32.10% in FY23. Depreciation and finance costs remained minimal at 0.47% and 0.19% of FY24 expenses, respectively.
Pee Safe’s EBITDA margin improved to -21.76% in FY24 from -26.39% in FY23. However, its Return on Capital Employed (ROCE) dropped sharply to -109.07% in FY24 from -64.54% in FY23, indicating financial strain.
The company has raised a total of Rs 99.28 crore in funding over eight rounds, with the latest Series B round secured in September, 2023. Founder Vikas Bagaria holds an 11.20% stake, while investors such as Zerodha (2.97%), Rubis Capital (5.64%), and Natco Pharma (6.42%) have also backed the company.
Pee Safe continues to expand its footprint in the hygiene sector, innovating with products that address critical personal care needs while working toward financial sustainability.