Beardo Records 78.5 Crore INR Revenue, 10x Surge in Profit

Share This Post

At the time of its acquisition, the co-founder and Chief Executive of Beardo (1), Ashutosh Valani, claimed that it was profitable in 2020. The audited financial statements of the company now also validate his claims. Notably, the firm has recorded a 2.2 Crore INR profit in the financial year 2020 

Moreover, Beardo has also generated its operating revenue via sales of men’s grooming products, with a 63% increase. In the previous financial year, it was 48.2 Crore INR, and it has now risen to 78.5 crore INR during FY 2020. The company has managed to enhance its production efficiencies while cutting the cost with a higher production scale. 

Consequently, Beardo managed to improve its EBITDA margins by 4X to 31.1% in 2020 from around 7% in the previous year. To meet the surge in demand, the company also spent more on raw materials. The total cost of raw material was increased to 25.3 crore INR in FY 2020, observing a total rise of 92%. 

 

Beardo to Continue its Journey as Any Growth Stage Profitable Company

The Ahmedabad-based company spent over 13 crore INR on employee benefits during the current fiscal year. It observed a surge of 84.4% compared to 7.05 Crore INR spent on the same category during the fiscal year 2019. 

As per the expense sheet of Beardo, it has to spend the highest on sales and marketing. It accounts for 45.1% of the total expenditure of the company in 2020. In the previous year, these expenses have increased by 42.3% from 21 crore INR to 34.14 crore INR in 2020. 

The total expenditure of Beardo during the fiscal year 2020 amounted to 75.62 INR increasing to 57% compared to 48.15 crores spend in 2019. The success of the operational efficiencies of Beardo during the current fiscal is evident in the company’s good figures. After taxes, its profit rose to 10.2X to 2.2 Crore INR in 2020, making it the second consecutive profitable year for the brand. 

+ posts

Rucha Joshi, currently managing a team of over 20 content writers at TimesNext is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student and a passionate leader.

spot_img

Related Posts

Swiggy allows Work From home

Joining the list of startups Mesho, Spinny, Zerodha, and...

Can A.I. cure Cancer? 

When we hear the word "terminal disease," the one...

Metaverse in Medicine

Since its inception, Metaverse has been such a buzzword. From...

Monkey Pox – Another endemic?

The world was having a sigh of relief after...

KGF verse – All you need to know!

After a resounding success of KGF, chapter 1, the...

Quik.com Creating the Future Internet With NFT Domains

Web 3.0, also called the decentralized web, is expanding...