Bold Care, a company which offers men’s wellness products spanning hair care, performance supplements, and overall health solutions. generated almost all its revenue from India while overseas operations only made INR 30 lakhs to Bold Care’s coffers in FY24.

Speaking of the company, its model relies heavily on direct-to-consumer (D2C) sales, primarily through third-party e-commerce marketplaces and its website. Sale of products such as oils, lubricants, and condoms among others was the sole source of collection for the firm during the last fiscal year.

The cost of material was the largest burn for Bold Care which decreased 10.71 percent year-on-year to Rs 15.09 crore. Having said that, advertising and promotional costs grew 11.09% to Rs 14.02 crores in FY24.

Furthermore, employee benefit expenses have increased 38.36% to INR 4.22 crore, wherein, legal and professional expenses increased by 41.35 percent. Notably, discounts have spiked 97.79% at INR 2.69 crores in the last fiscal year. So to say, the startup posted a total expense of INR 53.9 crore overall

Moreover, Bold Care reported a loss of INR 19.3 crores, which widened by 21.46% in the fiscal year ending March 2024 on the back of increased operating costs including promotional spending. Also to note, its ROCE and EBITDA margin stood at -40.8% and -11.71% respectively. Also  the company spent INR 1.63 to earn a rupee of operating revenue in FY24 when it comes to a unit basis.

The company has also recorded Cash and Cash Equivalent of INR 13.57 crore and Receivables of INR 4.86 crore in FY24. To become a co-owner in December 2023, bollywood actor Ranveer Singh had invested an undisclosed amount in the company. According to a credible report, Bold Care’s founding team controls more than 55% holding in the company.

Bold Care forayed into the women’s segment with the launch of its new brand Bloom last month. Currently, it is competing with D2C sexual and wellness brands including Man Matters and Beardo.