HUL-owned Minimalist nears Rs 700 crore FY26 income, posts Rs 25.9 crore profit

Skincare brand Minimalist grew FY26 revenue from operations 36% to Rs 690.2 crore, with total income at Rs 697.4 crore. EBITDA more than doubled to Rs 40.2 crore despite a 55% rise in advertising and promotion spend to Rs 235 crore.

— Source published Mon, 17 Aug, 2026, 12:49 IST · First seen Mon, 17 Aug, 2026, 12:51 IST · Source Entrackr · Newsletter

What happened

HUL-owned skincare D2C brand Minimalist grew FY26 operating revenue 36% to Rs 690.2 crore and posted Rs 25.9 crore PAT. EBITDA more than doubled to Rs 40.2

Key facts

  • FY26 revenue from operations: Rs 690.2 crore
  • FY26 total income: Rs 697.4 crore
  • FY26 PAT: Rs 25.9 crore
  • FY26 EBITDA: Rs 40.2 crore
  • FY26 EBITDA margin: 5.82%
  • FY26 advertising and promotion expense: Rs 235 crore
  • HUL acquired 90.5% stake for Rs 2,955 crore in January 2025

Why this matters

Minimalist’s ability to sustain rapid growth and improve profitability under HUL strengthens the strategic case for acquiring differentiated, high-loyalty digital-native beauty brands with room for omnichannel scale.

What to watch

  • Whether advertising spend growth moderates below revenue growth while revenue remains above 25%.
  • EBITDA margin progression from the current roughly 5.8% of revenue toward high-single digits.
  • Offline distribution expansion and evidence of sales contribution from general trade, modern trade, and pharmacies.
  • Repeat-purchase rates, customer acquisition costs, and the share of revenue from owned versus paid digital channels.
  • Competitive response from Indian and multinational skincare brands, especially discounting and ingredient-led product launches.
  • Any deeper operational integration with HUL, including manufacturing, distribution, procurement, or portfolio changes.
  • Increase offline and omnichannel reach through HUL-linked general trade, modern trade, and pharmacy distribution.
  • Sustain high digital, influencer, and performance-marketing investment while shifting measurement toward repeat purchase and customer lifetime value.
  • Expand high-margin skincare routines and selective adjacent categories, using hero ingredients and clinical-efficacy claims to defend premium pricing.
  • Use HUL scale for sourcing, manufacturing, and logistics to improve gross margin and reduce delivery costs.
  • Prioritize repeat-led growth, subscriptions, bundles, and CRM programs to reduce dependence on paid customer acquisition.

Also reported by