Plum, a top direct-to-consumer brand in India’s beauty and personal care area, reported profits in FY25.
The D2C startup, which started in 2013, announced an after-tax profit of ₹25 crore, a big swing from the ₹84 crore loss in FY24. This makes Plum one of the most talked-about D2C brand stories in India this year, establishing it as one of the country’s fastest-growing D2C brands.
Plum’s income from operations went up 23.3% to ₹402 crore in FY25, from ₹326 crore in the prior year, based on filings with the Registrar of Companies (RoC). With interest income and mutual fund gains included, the total income reached ₹419 crore. This rise in D2C income shows both strong customer demand and a well-managed D2C business plan that balances growth with keeping costs down.
The company, known for its skincare, body care, fragrances, hair care, and gifts, mainly sells through its website and big online marketplaces like Amazon and Flipkart. With no need for other income, Plum focuses on its products, similar to other D2C brands in India that are concentrating on specific customer groups.
When it comes to expenses, advertising and promotion were still the biggest cost at ₹139 crore, but this was cut by 7% year-over-year. The cost of materials used was ₹128 crore, while employee costs grew by almost 21%. Total spending for the year was ₹400 crore, showing a good balance between growing the business and controlling costs. By spending ₹1 for every ₹1 earned, Plum showed it could run things well, which is expected in the maturing D2C market in 2025.
Profitability got better, with an EBITDA margin of 6.22% and ROCE of 5.3%. Current assets were at ₹269 crore, with ₹92 crore in cash and bank balances, giving the company solid financial ground for future growth plans.
So far, Plum has raised over $50 million, including $35 million in a Series C funding led by A91 Partners, with Unilever Ventures and Faering Capital also participating in 2022. This makes it one of the best-funded VC-backed D2C brands in India. Its valuation and investor backing show strong confidence in its long-term growth.
Plum is up against many competitors like Juicy Chemistry, Wow Skin, MamaEarth, and Sugar Cosmetics. The beauty and skincare market in India is very competitive, with new products, influencer marketing efforts, and different sales strategies shaping what customers want. Plum is set apart as the first 100% vegan beauty brand in India, but keeping profits up in such a crowded market will need sharper new ideas, maybe exporting, and new product strategies.
Experts think Plum is now in a good spot to either be bought out or aim for a bigger target, like reaching ₹1,000 crore in income by 2030. For the D2C industry, Plum’s turnaround shows that personal care brands are growing up in India and reinforces the belief in the direct-to-consumer model.
