The parent firm of Man Matters, Boywise, and Little Joys - Mosaic Wellness - recorded over 61 percent YoY growth in its operating scale. It has crossed the INR 300 crore revenue threshold in the last fiscal year. Also to note, the firm also narrowed losses by 37% in FY24, significantly. As per the consolidated annual financial statements sourced from the Registrar of Companies, Mosaic Wellness’ revenue from operations increased from Rs 206 crore in FY23 to Rs 333 crore in FY24.
The company was established back in 2020 by Revant Bhate and Dhyanesh Shah, wherein, it is a digital-first consumer health platform that runs three separate brands dedicated to men, women, and kids. If we speak of its flagship brand - ManMatters, it offers solutions focused towards derma, hygiene, sexual health, and nutrition.
However, the company has not disclosed the revenue from its three brands separately. Also to note, Mosaic Wellness has added INR 8 crore from the interest on deposits and has gained on sale on investments; bringing its total revenue to INR 342 crore in the financial year 2024.
Mosaic Wellness's advertising cost has increased to INR 138 crore in FY24, showcasing a 38% increase, year-on-year. Furthermore, its cost procurement has grown to INR 93 crore (52%) while the employee benefits has risen to INR 52 crore which comes to 33% in FY24.
Compared to Rs 62 crore in FY23, the digital health and wellness consultation startup managed to control its losses by 37% to Rs 39 crore in FY24 with over 60% scale in revenue. If we have to look at its ROCE and EBITDA margin, it has improved to -24.2% and -10.8%, respectively.
Also, its expense-to-earning ratio has improved to Rs 1.14. Mosaic Wellness has reported total current assets of Rs 188 crore, including Rs 61 crore in cash and bank balances by the end of FY24.
