OZiva, a plant-based nutrition brand, reported a net loss of INR 44 crore on a turnover of INR 104 crore for the fiscal year ended March 2024, as disclosed in the annual report of Hindustan Unilever Ltd, which holds a majority stake in the startup.
FY23 Net Profit and Operating Revenue
During FY23, OZiva recorded a net profit of INR 58.3 crore, driven by a one-time gain of INR 95.5 crore. The brand’s operating revenue for the year amounted to INR 99.3 crore.
In January 2023, Hindustan Unilever acquired a 53.34% share in OZiva’s parent company, Zywie Ventures Pvt Ltd. The brand was evaluated at INR 361 crore utilising the multi-period excess earnings approach, according to HUL’s annual report for FY24.