HUL-owned skincare brand Minimalist posted total income of Rs 697.4 crore in FY26, up 37% from Rs 508.95 crore a year earlier, as the digital-first beauty brand scaled through its first full financial year under Unilever ownership. Revenue from operations climbed 36% to Rs 690.2 crore from Rs 506.5 crore, per consolidated filings with the Registrar of Companies.
The brand swung to a profit after tax of Rs 25.9 crore, against a net loss of Rs 270.5 crore in FY25 – a comparison skewed by a one-time Rs 283.8 crore fair-value charge on preference shares the previous year. Pre-tax profit stood at Rs 32.5 crore, versus a Rs 271.9 crore loss in FY25.
EBITDA more than doubled to around Rs 40.2 crore, with margins at 5.82%, while return on capital employed came in at 11.6%.
Advertising and promotional spend rose steeply – up 55% to about Rs 235 crore, over 35% of total expenditure of Rs 664.8 crore, underlining how aggressively Minimalist is still investing in growth. Total expenses rose 34% to Rs 664.8 crore, with material costs up 28% to Rs 184.8 crore, distribution expenses at Rs 97.4 crore, and employee costs up 32.5% to Rs 48.5 crore.
HUL had acquired a 90.5% stake in Minimalist’s parent, Uprising Science, founded by Mohit Yadav and Rahul Yadav, at a pre-money enterprise value of Rs 2,955 crore, with the deal closing in April 2025.
As of March 2026, the company held current assets of Rs 346 crore, including Rs 75 crore in cash.
