Noida-based personal care and wellness brand Suwasthi Intense Beauty Products reported a nearly sixfold increase in revenue, rising to Rs 53.2 crore in FY24 from Rs 9 crore in FY23.
Founded in 2017 by Kunwar Chauhan, Suwasthi offers a diverse portfolio of Ayurvedic and natural health, skincare, haircare, and nutrition products. The brand focuses on clean formulations, combining luxury and efficacy, and aims to deliver safe and results-oriented personal care solutions.
The company raised Rs 2 crore in a seed funding round in November 2022. Kunwar Chauhan remains the majority shareholder with a 50% stake in the company.
In line with revenue growth, expenses rose to Rs 51.7 crore in FY24 from Rs 8.8 crore in FY23. The biggest cost driver was employee benefit expenses, making up 30% of total costs, followed by raw material costs at 11.6%. Advertising and finance costs stood at 2.5% and 2.2% respectively.
The company’s profit increased to Rs 1 crore in FY24, up from Rs 17.3 lakh in FY23. However, its EBITDA margin slipped to 6.35% from 8.82% in the previous year. Despite this, return on capital employed (ROCE) improved significantly to 25.16%, up from 14.39%.