Plum’s Revenue Crosses ₹500 Crore in FY26
India’s D2C beauty and personal care market continues to expand as established digital-first brands strengthen their businesses.
Mumbai-based Plum has reported a strong financial performance in FY26, with its revenue from operations crossing the ₹500 crore milestone.
According to the company’s financial statements, Plum’s revenue from operations increased 28% year-on-year to ₹515 crore in FY26, compared with ₹402 crore in FY25.
The company also saw a significant improvement in profitability, with its profit nearly doubling during the year.
💰 Plum Financial Performance: FY26
Plum recorded strong growth across its key financial metrics during FY26.
Key financial highlights:
- FY26 operating revenue: ₹515 crore
- FY25 operating revenue: ₹402 crore
- Revenue growth: 28%
- FY26 profit: ₹49 crore
- FY25 profit: ₹25 crore
- Total income: ₹529.3 crore
- Total expenditure: ₹481 crore
- EBITDA margin: 8.12%
- ROCE: 13.2%
The growth demonstrates Plum’s ability to increase revenue while simultaneously improving its bottom line.
📈 Plum’s Profit Nearly Doubles
One of the most notable aspects of Plum’s FY26 performance was the sharp improvement in profitability.
The company’s profit increased to approximately ₹49 crore, compared with ₹25 crore in FY25.
This represents almost a twofold increase in profit in just one financial year.
The improvement came despite significant spending on advertising, production and other operating expenses.
🧴 About Plum
Founded in 2013, Plum is a digital-first beauty and personal care brand based in Mumbai.
The company offers a wide range of products across categories including:
- Skincare
- Bodycare
- Haircare
- Fragrances
- Gifting
Plum sells its products through its own website as well as major third-party e-commerce platforms.
Its online distribution network includes platforms such as Amazon, Nykaa and Flipkart.
🛍️ Product Sales Remain Plum’s Main Revenue Source
Product sales continued to be Plum’s only operating revenue stream during FY26.
In addition to revenue from its core business, the company generated around ₹14.3 crore through interest income and gains from mutual fund investments.
As a result, Plum’s total income reached approximately ₹529.3 crore during FY26.
The figures indicate that the company’s primary business remains firmly focused on selling beauty and personal care products.
📢 Advertising Remains Plum’s Largest Expense
Plum continued to invest heavily in customer acquisition and brand building during FY26.
Its advertising and promotional expenses increased by more than 32% year-on-year to ₹184.4 crore.
This made advertising one of the company’s largest cost components during the financial year.
For a D2C beauty brand operating in a highly competitive market, spending on marketing is important for attracting new customers, strengthening brand awareness and retaining market share.
🏭 Rising Production Costs
Alongside marketing expenditure, Plum also saw an increase in its production-related costs.
The company’s cost of materials consumed increased by around 28% to ₹184.4 crore during FY26.
Employee benefit expenses also increased by approximately 12% to ₹47.6 crore.
Apart from these major expenses, Plum spent money on:
- Storage
- Transportation
- Commissions
- Legal services
- Other operational expenses
Overall, the company’s total expenditure reached approximately ₹481 crore in FY26.
📊 Improving Profitability and Financial Efficiency
Despite higher expenses, Plum’s faster revenue growth helped improve its overall profitability.
The company reported an EBITDA margin of 8.12% during FY26.
Its Return on Capital Employed (ROCE) also improved to 13.2%.
The company ended FY26 with approximately ₹305.6 crore in current assets, including around ₹92 crore in cash and bank balances.
These figures indicate a stronger financial position as Plum continues to scale its operations.
💵 Plum’s Funding Journey
Plum has raised more than $50 million across multiple funding rounds.
Its largest fundraise came in March 2022, when the company secured $35 million in Series C funding.
The round was led by A91 Partners, with participation from existing investors Unilever Ventures and Faering Capital.
The funding has supported Plum’s continued expansion across India’s competitive beauty and personal care market.
🧠 Why Plum’s Growth Matters for India’s D2C Beauty Market
Plum’s financial performance comes at a time when India’s D2C beauty industry is attracting increasing attention from investors and large consumer companies.
The market has witnessed several major transactions as established companies look to acquire or invest in successful digital-first beauty brands.
Recent deals involving brands such as Minimalist and The Derma Co have highlighted the increasing strategic value of India’s D2C beauty ecosystem.
🏆 Plum’s Competitive Landscape
Plum operates in a highly competitive beauty and personal care market.
The company competes with several established Indian D2C and digital-first brands, including:
- Juicy Chemistry
- WOW Skin Science
- Mamaearth
- SUGAR Cosmetics
The increasing competition is pushing brands to invest in product innovation, marketing, distribution and customer experience.
🤝 Growing Interest From Large Consumer Companies
India’s D2C beauty sector has increasingly become an attractive acquisition market for large consumer companies.
Hindustan Unilever Limited acquired a 90.5% stake in Minimalist at a reported pre-money valuation of ₹2,955 crore.
Meanwhile, Honasa Consumer acquired The Derma Co as part of its expansion in the beauty and personal care segment.
More recently, L’Oréal’s reported acquisition of Innovist, the parent company of Bare Anatomy, further highlighted the growing interest of global beauty companies in India’s digital-first brands.
This trend could create further opportunities for established D2C brands such as Plum.
🔮 What’s Next for Plum?
With revenue crossing ₹500 crore and profitability improving significantly, Plum enters FY27 from a stronger financial position.
The company is expected to focus on:
- 🧴 Expanding its beauty and personal care portfolio
- 📈 Increasing revenue growth
- 🛍️ Strengthening its e-commerce presence
- 📢 Investing in brand and customer acquisition
- 🌐 Expanding its distribution network
- 💰 Improving profitability
- 🚀 Strengthening its position in India’s D2C beauty market
The combination of growing revenue and improving profitability could help Plum compete more effectively as India’s beauty and wellness market continues to expand.
🏁 Conclusion
Plum’s FY26 financial performance marks a significant milestone for the Mumbai-based D2C beauty brand.
The company’s revenue from operations increased 28% to ₹515 crore, crossing the ₹500 crore mark for the first time, while its profit nearly doubled to ₹49 crore.
Despite higher advertising and production expenses, Plum managed to improve its profitability and key financial metrics.
With a broad product portfolio, established online distribution and more than $50 million raised in funding, Plum remains one of the notable players in India’s competitive D2C beauty and personal care ecosystem.
As large consumer companies continue to show interest in India’s digital-first beauty brands, Plum’s strong FY26 performance could further strengthen its position in the sector.
