Minimalist
Financial Performance
Minimalist Revenue & Financials
Revenue
~$80.1M (FY2026)
Net Income
~$3M
What is Minimalist's revenue?
Minimalist had ~$80.1M in revenue for fiscal year 2026, up 34.1% from 2025. Net income was ~$3M.
- Latest revenue
- ~$80.1M (FY2026)
- Year-over-year
- +34.1%
- Growth rate (CAGR)
- 55.4% over 3 years
- Peak revenue
- ~$80.1M (FY2026)
- Years of data
- 4
- How much profit does Minimalist make?
- Minimalist reported net income of ~$3M for fiscal year 2026. entrackr.com
Financial Analysis
Minimalist's revenue from operations grew from ~$12.5 million (₹108 crore) in FY22 to ~$21.3 million (₹184 crore) in FY23 and ~$40.3 million (₹347.4 crore) in FY24, when it earned a ~$1.25 million (₹10.8 crore) profit. FY25 revenue rose about 48% to roughly $59.7 million (₹515 crore) (~$58.8 million (₹506.5 crore) consolidated), but the company booked a loss driven by exceptional items tied to the HUL deal, including a ~$32.9 million (₹283.8 crore) fair-value loss on preference shares in the consolidated accounts. In FY26 consolidated revenue reached ~$80.1 million (₹690.2 crore) (+36%), EBITDA about $4.66 million (₹40.2 crore) and profit after tax ~$3 million (₹25.9 crore), with ~$8.7 million (₹75 crore) cash and bank balances at March 2026. Minimalist (Boutique Cosmetics) operates as a fast-growing, privately held Indian direct-to-consumer skincare brand, achieving a private valuation exceeding $100 million in recent funding rounds.
Revenue Trend Analysis
YoY Change
+34.1%
3-Year CAGR
+55.4%
Peak Year
2026
Trend
Consistent Growth
Minimalist has 4 full fiscal year figures on this page, compounding at +55.4% annually over 3 years. The most recent year saw a 34.1% increase versus the prior year. Annual revenue peaked in fiscal year 2026 at ~$80.1M. Of 3 comparable year-over-year steps, 3 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2026 | ~$80.1M | ~$3M | +34.1% | Entrackr (consolidated RoC filings) Consolidated revenue from operations, FY ended 31 March 2026; EBITDA about $4.66 million (₹40.2 crore). |
| FY2025 | ~$59.7M | -~$3.7M | +48.2% | Uprising Science (Minimalist) results (via Entrackr) Standalone revenue from operations, FY ended 31 March 2025; loss driven by about $5.34 million (₹46 crore) exceptional items. Consolidated figures: revenue ~$58.8 million (₹506.5 crore), net loss ~$31.5 million (₹271.9 crore) (incl. ~$32.9 million (₹283.8 crore) CCPS fair-value loss). |
| FY2024 | ~$40.3M | ~$1.3M | +88.8% | Entrackr / Storyboard18 (RoC filings) Revenue from operations, FY ended 31 March 2024; profit about $1.25 million (₹10.8 crore). |
| FY2023 | ~$21.3M | — | — | Inc42 (RoC filings) Revenue from operations, FY ended 31 March 2023. |
Click any row to see year details.
Keep researching Minimalist
Minimalist Revenue and Financial FAQ
What is Minimalist's annual revenue?
Consolidated revenue from operations was ~$80.1 million (₹690.2 crore) in FY26, up 36% from ~$58.8 million (₹506.5 crore) in FY25.
Is Minimalist profitable?
Yes in FY26: profit after tax was ~$3 million (₹25.9 crore) and EBITDA about $4.66 million (₹40.2 crore) (5.82% margin). FY25 showed a loss due to one-off items linked to the HUL deal.
What is Minimalist's valuation?
HUL's deal valued Uprising Science at a ₹2,955 crore pre-money enterprise value, about $350 million, in January 2025.
How much funding did Minimalist raise?
Its main external round was a ₹110 crore ($15 million) Series A in July 2021 before the HUL acquisition.
Is Minimalist a profitable company?
Minimalist is recognized as one of the most capital-efficient D2C beauty brands in India. Within three years of its 2020 launch, it surpassed ₹200 crore (~$25M-$30M) in annualized revenue run rate while operating at near-breakeven or positive operating EBITDA, avoiding the massive cash-burn and celebrity endorsement expenses typical of venture-funded consumer brands.
How much funding has Minimalist raised?
Minimalist has raised approximately $15 million in institutional capital, primarily through its July 2021 Series A round co-led by Peak XV Partners and Unilever Ventures. The founders have deliberately maintained tight equity control and high capital efficiency rather than continually raising dilutive mega-rounds.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Minimalist Revenue & Financials." CorpDigest, https://corpdigest.com/company/minimalist/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Minimalist reported ~$80.1M in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/minimalist/financials" target="_blank" rel="noopener">CorpDigest — Minimalist financials</a></div>Related Financial Audits
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