The D2C beauty brand grew revenue 28% to ₹515 Cr while improving profitability, strengthening its position in India’s competitive beauty and personal care market.
Bengaluru-based D2C beauty and personal care brand Plum crossed ₹500 crore in revenue in FY26, recording strong growth alongside a sharp improvement in profitability. The company’s revenue from operations rose 28% year-on-year to ₹515 crore from ₹402 crore in FY25, while profit nearly doubled to ₹49 crore from ₹25 crore.
Founded in 2013, Plum sells skincare, bodycare, fragrances, haircare and gifting products through its own website and third-party e-commerce platforms including Amazon, Nykaa and Flipkart. Product sales remained the company’s only operating revenue stream during FY26.
Beyond its core operations, Plum generated ₹14.3 crore through interest income and gains on mutual fund investments, taking total income to ₹529.3 crore.
The company continued to spend heavily on customer acquisition and production. Advertising and promotional expenses increased more than 32% year-on-year to ₹184.4 crore, making it Plum’s largest expense during the fiscal. Material consumption also rose 28% to ₹184.4 crore, while employee benefit expenses increased 12% to ₹47.6 crore.
Additional expenses included storage, commissions, transportation, legal services and other operational overheads. Overall, Plum’s total expenditure reached ₹481 crore in FY26.
Despite the higher spending, faster revenue growth translated into improved profitability. Plum spent ₹0.93 for every rupee of operating revenue during the year. Its EBITDA margin stood at 8.12%, while return on capital employed (ROCE) improved to 13.2%.
The company ended FY26 with ₹305.6 crore in current assets, including ₹92 crore in cash and bank balances, providing further financial capacity as it continues to build its consumer business.
Plum has raised more than $50 million across multiple funding rounds. Its largest fundraise came in March 2022, when it secured $35 million in Series C funding led by A91 Partners, with participation from Unilever Ventures and Faering Capital.
The brand operates in a competitive D2C beauty market alongside Juicy Chemistry, WOW Skin Science, Mamaearth and SUGAR Cosmetics. The sector is also attracting increasing interest from large consumer companies seeking established digital-first brands.
Hindustan Unilever acquired a 90.5% stake in Minimalist at a pre-money valuation of ₹2,955 crore, while Honasa Consumer acquired The Derma Co. L’Oréal’s reported acquisition of Innovist has further highlighted strategic interest in India’s D2C beauty and personal care space.
With revenue crossing ₹500 crore and profitability improving, Plum is strengthening its position as an established digital-first beauty brand while continuing to operate across multiple online consumer channels.
Source: Based on reporting by Entrackr, with additional editorial adaptation and analysis.
