Mensa Brands, a direct-to-consumer (D2C) company, recorded a loss of INR 329 crore in the fiscal year 2023, marking a 2.4-fold surge compared to the previous fiscal year. This increase can be attributed to escalating expenses.
Mensa Brands experienced a 55% increase in operating cash flow, reaching INR 249.4 crore during the fiscal year 2023, as reported by Entrackr. The information is sourced from the financial statements of the company’s group entity in Singapore.
In the fiscal year ending March 2023, Mensa Brands saw a significant rise in operating revenue, reaching INR 1,317 crore. This marks a substantial increase from the INR 339.2 crore recorded in the previous fiscal year (FY22).
“The sale of products from its portfolio firms formed 98.5% of its revenue which stood at INR 1,297 crore while INR 17.7 crore came from sale of services,” the report mentioned. During the fiscal year 2023, Mensa Brands reported an EBITDA of INR 19.35 crore. The company, founded by Ananth Narayanan, former CEO of Myntra and Medlife, enjoys support from prominent global investors, including Accel Partners, Falcon Edge Capital, Norwest Venture Partners, Prosus, and Tiger Global Management.
Within the initial 12 months of operations, it achieved a net revenue run rate of INR 1,500 crore.
In September, Mensa Brands acquired the health-food startup MyFitness for an undisclosed amount, with the goal of developing it into a INR 1,000 crore brand within the next three to four years.
