Sugar Cosmetics’ profitability slips as FY25 revenue declines to Rs 415 crore

According to Tracxn, Sugar Cosmetics was valued at Rs 2,943 crore (around $350 million) as of January 2025

By Storyboard18| Oct 15, 2025 8:53 AM

Sugar Cosmetics’ profitability slips as FY25 revenue declines to Rs 415 crore

Last month, Sugar partnered with Myntra to launch a Gen Z–focused beauty line called Molten. (Representative Image: Freestocks via Unsplash)

Sugar Cosmetics reported a 17.8% decline in revenue for FY25, with its net revenue falling to Rs 415 crore as of March 31, 2025, compared to Rs 505 crore in the previous fiscal year, according to The Arc.

The D2C beauty brand’s EBITDA slipped to a negative Rs 108 crore, with margins deteriorating to -26%, reflecting pressure on profitability amid slower growth and rising expenses.

In FY25, the Vinita Singh and Kaushik Mukherjee-led brand raised Rs 41 crore (around $5 million) in equity funding led by Anicut Capital, along with Rs 15 crore in debt from Stride Ventures.

Last month, Sugar partnered with Myntra to launch a Gen Z–focused beauty line called Molten, aimed at strengthening its digital-first positioning.

Currently, the brand operates through thousands of retail touchpoints and 200 exclusive stores across 50 cities, with online channels contributing about 40% of total sales.

According to Tracxn, Sugar Cosmetics was valued at Rs 2,943 crore (around $350 million) as of January 2025. Its key investors include A91 Partners, Elevation Capital, L Catterton, and India Quotient.

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