Beardo reports 62.4% growth in FY24 (#1682190)

Marico’s male grooming brand Beardo reported 62.4% year on year growth in the 2024 fiscal year as revenue from operations touched Rs 173.2 crore. The business expanded its retail operations and returned to profitability following a more muted performance in the 2023 financial year.

Beardo’s revenue from operations had totalled Rs 106.6 crore in the 2023 financial year, according to data at the Registrar of Companies, Indian Retailer Bureau reported. Beardo significantly expanded its operations in the 2024 financial year which led to its procurement costs increasing by 83.2% year on year from Rs 36.8 crore in the 2023 fiscal to Rs 67.5 crore in the 2024 fiscal.
 
The brand however tightened its expenses in other areas and its employee benefit costs and advertising spend remained stable over the year. Beardo’s total expenses rose by 46.1% from Rs 115.3 crore in the 2023 financial year to Rs 168.4 crore in the 2024 financial year.
 
Beardo specialises in personal care goods for men with beards, according to its Facebook page. The brand’s signature products include beard oils, beard wax, and beard combs as well as skincare goods for men such as face washes, soaps, and lotions among others which it retails from its direct to customer e-commerce store and on multi-brand platforms as well as offline.