Bombay Shaving Company scale surged by 2X with controlled losses during FY21
- ByStartupStory | April 19, 2022
With The Man Company managing to grow its revenue marginally in the fiscal year ending March 2021, the scale of men’s grooming brands such as Beardo and Ustraa didn’t grow during FY21. Bombay Shaving Company’s scale on the other hand surged by 2X in the fiscal marred by the pandemic.
During FY21, Bombay Shaving Company (BSC) generated operating revenue of Rs 37.7 crore, increasing 114.2% in FY20 from Rs 17.6 crore, shows its regulatory filings with the Registrar of Companies (RoC).
From the sale of products that include trimmers, skincare, beard care products, et al, the men’s grooming brand booked around 99% of its revenue. This revenue jumped over 2X from Rs 17.5 crore in the preceding fiscal year (FY20) to Rs 37.52 crore in FY21.
The company generated Rs 8 lakh from the sale of services (salon on wheels services) during FY21, which was nil during the last fiscal year and other operating revenue of about Rs 9 lakh. As non-operating revenue that includes profit on mutual funds, interest income, and forex gains, Bombay Shaving Company also reported Rs 76 lakh.
Bombay Shaving Company is a premium personal care and grooming solutions brand with a portfolio of skincare, shaving cream, haircare, and beard care products.
The cost of materials consumed on the expense front, contributed 36.8% of the total expenditure during FY21. Emerging as the largest cost centre, This cost surged 2.5X from Rs 7.64 crore in FY20 to Rs 19.52 crore in FY21.
Bombay Shaving Company runs a YouTube channel having over 70K subscribers in order to grab the attention of social media and to expand the customer base. That was presumably a very small part of its expenses during FY21 on advertising and marketing of about s 15.46 crore, making it the second-largest cost for the year. This cost contributed 29.2% of total expenses and increased 55.2% in the preceding fiscal year (FY20) from Rs 9.96 crore .
During FY20, Delivery, handling fees and employee benefit expenses increased nearly 125% and 13% to Rs 4.51 crore and Rs 9.6 crore in FY21 from Rs 2 crore and Rs 8.5 crore respectively. Product display and listing fees of Rs 97 lakh were also booked by Bombay Shaving Company. In total, expenses of Rs 53 crore was reported by the company, increasing from Rs 33.2 crore in FY20 by nearly 60%.
Follow Startup Story
Related Posts
