Wellbeing Nutrition reported a 68.6% increase in revenue, reaching Rs 71.97 crore in FY24, up from Rs 42.67 crore in FY23.
Wellbeing Nutrition is transforming the fitness and nutrition industry by developing clinically studied whole-food nutrition products. Formulated by researchers and doctors globally, the company sources plant-based ingredients from 10 countries to create clean, sugar-free nutrition solutions. It aims to make wellness easy, convenient, and enjoyable for all ages.
Wellbeing Nutrition has raised a total of Rs 111.31 crore in funding across five rounds, with the latest Series B round completed on December 12, 2022. Co-founders Avnish Chhabria and Saurabh Kapoor drive the company’s vision, while Avnish Chhabria holds a 25.59% stake, ESOP accounts for 7.96%, and ACG Associate holds 3.02%.
The company’s expenses rose by 39.6%, reaching Rs 103.73 crore in FY24, up from Rs 74.28 crore in FY23. Employee benefit costs increased to 19.99% of total expenses in FY24 from 19.17% in FY23. Advertisement costs rose significantly to 45.14% in FY24 from 35.20% in FY23, while the cost of materials reduced to 23.46% in FY24 from 26.72% in FY23. Depreciation expenses increased slightly to 1.02% in FY24 from 0.88% in FY23, while finance costs decreased to 0.66% in FY24 from 1.41% in FY23.
Wellbeing Nutrition’s losses widened marginally to Rs 31.76 crore in FY24 compared to Rs 31.61 crore in FY23. However, its EBITDA margin improved to -41.70% in FY24 from -70.07% in FY23. Meanwhile, ROCE worsened to -77.39% in FY24 from -50.54% in FY23.
Founded in 2019 and headquartered in Mumbai, Wellbeing Nutrition continues to scale its operations while striving to balance growth with financial sustainability.