Emami-Owned The Man Company Loss Climbs 48.7% Amid Rising Expenses in FY26

Emami-owned The Man Company reported a wider loss during FY26 as rising operating costs outweighed modest growth in revenue. 

The men's grooming and personal care brand posted 4.5% growth in revenue from operations to ₹161.17 crore, compared with ₹154 crore in FY25. Including ₹12 lakh of non-operating income, total income stood at ₹161.29 crore. 

Higher Spending Impacts Bottom Line 

The company's total expenditure increased 9.6% year-on-year to ₹194 crore from ₹177 crore in FY25. 

The cost of materials consumed rose 12.9% to ₹64.15 crore from ₹56.82 crore. Finance costs increased 26% to ₹4.07 crore, while other expenses climbed 13.6% to ₹101.68 crore. Employee benefit expenses declined 8.5% to ₹21.24 crore. 

Loss and Operating Performance 

The company's net loss widened 48.7% to ₹32.54 crore in FY26 from ₹21.88 crore in the previous financial year. 

Its EBITDA margin weakened to -15.91%, compared with -9.66% in FY25. The company also spent ₹1.20 to generate every ₹1 of operating revenue during FY26, higher than ₹1.15 in the previous year. 

At the end of the financial year, cash and bank balances stood at ₹4.09 crore, while current assets were ₹46 crore. 

Business Overview 

Headquartered in Gurugram, The Man Company manufactures skincare, haircare, beard care, fragrances and other personal care products. Emami acquired the company in stages, taking full ownership in July 2024 after first investing in 2017.  

It competes with Beardo and Ustraa, which reported FY25 operating revenue of ₹214 crore and ₹73 crore, respectively. 

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Conclusion 

The Man Company reported a 48.7% increase in net loss during FY26 as higher expenditure across key cost heads outpaced revenue growth, despite continued expansion in its men's grooming and personal care business.   

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