Minimalist FY26 income rises to ₹697 crore, ad spends up to ₹235 crore

Hindustan Unilever-owned skincare brand Minimalist reported total income of ₹697.4 crore in FY26, up from ₹508.95 crore a year earlier, as the D2C beauty brand continued to scale following its acquisition by the FMCG major.

Revenue from operations rose 36% to ₹690.2 crore during the year, while profit after tax stood at ₹25.9 crore, compared with a reported loss of ₹270.5 crore in FY25. The previous year’s loss was largely driven by an exceptional charge of ₹283.8 crore linked to fair-value adjustments on compulsorily convertible preference shares.

On a pre-tax basis, Minimalist posted a profit of ₹32.5 crore in FY26, against a loss of ₹271.9 crore a year earlier.

The company’s total expenses increased 34% to ₹664.9 crore from ₹497.1 crore in FY25. Material costs rose 28% to ₹219 crore, while employee benefit expenses climbed 32.6% to ₹48.5 crore.

Other expenses remained the largest cost bucket at ₹416.7 crore, up from ₹305.3 crore the previous year. These include advertising and promotional spending, distribution, warehousing and other operating costs.

Minimalist spent about ₹235 crore on advertising and promotion during FY26, underlining the level of investment behind the brand as it expands beyond its D2C roots and builds a wider consumer presence.

The FY26 numbers mark Minimalist’s first full financial year under HUL ownership. HUL completed the acquisition of a 90.5% stake in Uprising Science, the company behind Minimalist, in April 2025 at a pre-money enterprise value of ₹2,955 crore. The remaining 9.5% stake is expected to be acquired from the founders over two years.

For FY25, Minimalist had reported operating revenue of roughly ₹515 crore, reflecting the pace at which the skincare brand has scaled over the past two years.