Oziva revenue grows 2.5X in FY25; cuts losses by 90%

After reporting flat growth in FY24, HUL-acquired nutrition and wellness brand Oziva recorded a 2.5X increase in operating revenue. The company also narrowed its losses by 90%, even as expenses rose 75% on account of higher advertising and material costs.

Oziva’s revenue from operations jumped 148% to Rs 258 crore in FY25 from Rs 104 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC).

The firm generates revenue from nutrition and wellness products across categories such as plant-based supplements, protein, and vitamins. These products contributed 99% of its revenue, with the Indian market being the sole revenue source for Oziva.

On the expense front, advertising remained the single largest cost element, ballooning 94% to Rs 120 crore in FY25 from Rs 62 crore in FY24. Cost of material consumed rose 58% to Rs 71 crore, while employee benefit expenses grew 44% to Rs 23 crore. Transportation cost more than doubled to Rs 24 crore, whereas finance cost remained flat at Rs 1.2 crore.

Overall, Oziva’s total expenses rose 75% to Rs 267 crore in FY25 from Rs 153 crore in FY24. For a more detailed expense breakdown, head to TheKredible.

With revenue outpacing expense growth, the company slashed its losses by 90% to Rs 4.5 crore in FY25 from Rs 43.5 crore in FY24. Its ROCE and EBITDA margin stood at -7.50% and -1.21%, respectively.

On a unit level, Oziva spent Rs 1.04 to earn a rupee in the last fiscal year. As of March 2025, the Mumbai-based company recorded current assets worth Rs 104 including  Rs 27 crore in cash and bank balances.

In December 2022, HUL acquired a 51% stake in OZiva with the first tranche at a cash consideration of Rs 264.28 crore. The company will acquire the remaining 49% stake after the expiry of three years from the completion of the first tranche.

According to TheKredible, the company’s co-founders Aarti Gill and Mihir Gadani together own 36.22% of the company.

The story here is certainly good in more ways than one. While the template of rising losses in the first year post acquisition is normal now, as the acquirer cleans up the acquired firm, the turnaround into growth and towards profits doesn't always happen easily. More so with a giant like HUL, whose systems and processes  can easily overwhelm many founders. So credit to both the firms in this case. The spike in advertising indicates a full blown push to reach new markets and segments, and one would expect this to come down as a share of costs in future years, if the brand builds a level of loyalty among users.