Oziva FY26 revenue rises 80% to Rs 463 Cr as marketing spend reaches Rs 246 Cr

HUL-owned wellness brand Oziva reported FY26 operating revenue of Rs 463.4 crore, up from Rs 257.8 crore in FY25. Advertising and promotion spend doubled to Rs 246.2 crore, while net loss widened to Rs 18.5 crore. HUL completed its full acquisition in February.

— Source publishedFri, 25 Sept, 2026, 13:14 IST·First seen Fri, 25 Sept, 2026, 13:18 IST·Source Entrackr

What happened

OZiva · HUL-owned wellness brand Oziva grew FY26 operating revenue 80% to Rs 463.4 crore, but advertising spend doubled to Rs 246.2 crore and losses widened to

Key facts

  • FY26 operating revenue: Rs 463.4 crore
  • FY25 operating revenue: Rs 257.8 crore
  • FY26 advertising and promotion spend: Rs 246.2 crore
  • FY26 net loss: Rs 18.5 crore
  • FY26 EBITDA loss: Rs 16.7 crore
  • FY26 EBITDA margin: -3.6%
  • HUL acquired remaining 49% stake for Rs 824 crore
  • Implied Oziva valuation: Rs 1,682 crore

Why this matters

HUL’s completed acquisition positions Oziva as a scaled wellness platform, with its high-growth revenue base and brand-investment intensity potentially supporting further category adjacencies or portfolio synergies.

What to watch

  • Advertising and promotion expense as a percentage of operating revenue; a decline from roughly 53% without a sharp revenue slowdown would indicate improving efficiency.
  • Whether FY27 revenue growth remains above 35-40% after HUL integration and reduced dependence on paid acquisition.
  • Net loss trajectory and evidence of EBITDA or operating-profit improvement.
  • Expansion of Oziva into HUL's offline distribution network and contribution from modern trade versus D2C/e-commerce.
  • Repeat purchase, subscription penetration, average order value and discount intensity.
  • New product launches, SKU rationalization or visible integration with HUL's beauty and wellness portfolio.
  • Expand Oziva distribution through HUL's general trade, modern trade and e-commerce relationships, with greater emphasis on tier-2 and tier-3 markets.
  • Shift marketing from broad awareness spending toward retention, subscriptions, creator-led performance campaigns and CRM to raise repeat purchase rates.
  • Bundle or cross-promote Oziva products with HUL beauty, personal care and health-adjacent brands.
  • Rationalize lower-velocity SKUs and prioritize high-repeat categories such as protein, women's wellness, skin nutrition and daily supplements.
  • Use HUL procurement and manufacturing capabilities to improve input costs, packaging economics and fulfillment efficiency.

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