Mosaic Wellness, the parent company of Man Matters, Bodywise, and Our Little Joys, has achieved remarkable financial milestones in FY24, recording a 61% year-on-year revenue growth and surpassing the ₹300 crore revenue mark. The digital-first consumer health platform also reduced its losses by 37% during the same period, demonstrating strong progress toward profitability.
Key Financial Highlights
Revenue Growth
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating revenue surged to ₹333 crore in FY24, up from ₹206 crore in FY23.
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Including interest and investment gains, total revenue stood at ₹342 crore.
Expense Management
Total expenses rose by 38% to ₹380 crore, driven by:
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advertising costs: ₹138 crore (up 38%).
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Procurement costs: ₹93 crore (up 52%).
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employee benefits: ₹52 crore (up 33%).
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Despite increased expenses, losses narrowed to ₹39 crore from ₹62 crore in FY23.
Operational Metrics
Mosaic Wellness operates three distinct brands:
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Man Matters: Focused on men&rsquo;s health, including derma, sexual health, hygiene, and nutrition.
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bodywise: Caters to women&rsquo;s wellness.
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our Little Joys: Addresses kids&rsquo; wellness needs.
Profitability Improvements
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return on Capital Employed (ROCE) improved to -24.2%.
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EBITDA margin enhanced to -10.8%.
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expense-to-earning ratio improved to ₹1.14.
Financial Resilience
Mosaic Wellness ended FY24 with total current assets of ₹188 crore, including ₹61 crore in cash and bank balances, reflecting strong financial management amid scaling operations.
Founded for Impact
Established in 2020 by Revant Bhate and Dhyanesh Shah, Mosaic Wellness continues to solidify its position as a leading digital-first consumer health platform, maintaining a clear trajectory toward profitability while addressing diverse wellness needs.
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Source : startupro.in

Mosaic Wellness, the parent company of Man Matters, Bodywise, and Our Little Joys, has achieved remarkable financial milestones in FY24, recording a 61% year-on-year revenue growth and surpassing the ₹300 crore revenue mark

Mosaic Wellness Achieves 61% Revenue Growth in FY24, Narrows Losses by 37%