New Delhi, Dec 19 (NationPress) The grooming and personal care brand Bombay Shaving Company has incurred a loss of Rs 62.15 crore in FY24, a drop from Rs 80.25 crore in FY23.

As per data obtained from the Registrar of Companies (ROC), the company's expenses escalated in FY24. Total spending for the company rose by 12.5 percent year-on-year, reaching Rs 295.57 crore, compared to Rs 262 crore in FY23.

During the last fiscal year, the company's material costs rose by 34.39 percent year-on-year to Rs 118.76 crore. Meanwhile, the company allocated Rs 85.90 crore and Rs 36.79 crore for advertising and employee benefits, respectively.

Conversely, the firm's delivery and handling costs dropped by 9.41 percent year-on-year to Rs 18.78 crore in FY24. Additionally, the company expended Rs 35.34 crore on miscellaneous items over the last financial year.

The operating income of the company saw an increase of 27.38 percent year-on-year, amounting to Rs 225.85 crore in FY24, up from Rs 177.30 crore in FY23.

Including other income of Rs 7.6 crore, the total revenue for the company in FY24 stands at Rs 233.4 crore.

Due to the loss, the company reported a ROCE and EBITDA margin of (-) 74.66 percent and (-) 22.90 percent. In FY24, the company expended Rs 1.31 to generate one rupee in revenue.

The company's current assets were valued at Rs 203 crore in FY24, which includes a cash and bank balance of Rs 72.5 crore.

Reports indicate that the Bombay Shaving Company has successfully secured a total investment of $51.5 million to date. Notable investors include Sixth Sense Ventures, Colgate-Palmolive, Malabar Investments, Reckitt, and Patni & Family.

Bombay Shaving Company operates as a D2C grooming and personal care startup, offering a diverse portfolio that includes shaving cream, haircare, skincare, and beard care products. It competes in the grooming sector alongside brands such as Ustraa, Beardo, and The Man Company.