Soothe Healthcare, the Delhi-based personal hygiene and self-care brand, has reported a revenue of Rs 172 crore in the fiscal year ending March 2023, marking a 23.74% increase from Rs 139 crore in FY22.
The company, managing brands like Paree, Baby Bear, and Super Liife, aims to achieve breakeven by the end of FY24 despite facing challenges. However, achieving this goal might be demanding, considering the reported loss of nearly Rs 100 crore in FY23.
Revenue Growth and Product Portfolio
Soothe Healthcare’s revenue growth primarily stems from the sales of its diverse product portfolio, including sanitary pads, hair removal creams, razors, adult and baby diapers, and baby care products. The company claims to sell approximately 5 million Paree Sanitary pads monthly and has established its brand presence across 300,000 general stores, supermarkets, and e-commerce platforms.
Challenges and Losses
Despite the revenue growth, Soothe Healthcare faced significant challenges, leading to losses amounting to Rs 97 crore in FY23. The company’s path to breakeven in FY24 may be hindered by the reported financial setbacks.
Expense Analysis
Examining the expense pattern, the cost of materials consumed constituted 43% of the overall expenditure, surging by 78.5% to Rs 116 crore in FY23. Additionally, employee benefits experienced a notable increase of 26.5% during the same fiscal year.
As Soothe Healthcare navigates its financial landscape, the company’s strategies for cost management and revenue generation will be crucial in achieving its breakeven target amid the competitive market and evolving consumer trends.