Founder Stack

Emami-owned men’s grooming and personal care brand The Man Company reported modest topline growth during the fiscal year ended March 2026. At the same time, higher spending weighed on its bottom line, resulting in a 48.7% increase in its losses. The Man Company’s revenue from operations increased 4.5% to Rs 161.17 crore in FY26 from Rs 154 crore in theprevious fiscal, according to the regulatory document reviewed byEntrackr. The Gurugram-based firm manufactures and sells grooming products across skincare, haircare, beard care, fragrances, and other personal care categories. It also recorded Rs 12 lakh in non-operating income, taking its total income to Rs 161.29 crore during the year. The cost of materials consumed was the largest expense head, increasing 12.9% to Rs 64.15 crore from Rs 56.82 crore a year ago. Employee benefit expenses declined 8.5% to Rs 21.24 crore, while finance costs rose 26% to Rs 4.07 crore. Meanwhile, other expenses climbed 13.6% to Rs 101.68 crore. Higher spending across key cost heads pushed the company’s total expenditure up 9.6% to Rs 194 crore in FY26 from Rs 177 crore in FY25. The firm’s loss widened 48.7% to Rs 32.54 crore in FY26 from Rs 21.88 crore in the previous fiscal. Its EBITDA margin also weakened to -15.91%, compared with -9.66% a year earlier. On a unit basis, the company spent Rs 1.20 to earn a rupee of operating revenue during FY26, up from Rs 1.15 in FY25. At the end of the fiscal year, it held Rs 4.09 crore in cash and bank balances, while its current assets stood at Rs 46 crore. Emami completed theacquisitionof a 100% stake in The Man Company in July 2024, seven years after making its first investment in the men’s grooming brand. The FMCG company acquired an initial 30% stake in 2017 and gradually increased its holding over the years. In 2022, it became the majority shareholder with a 50.4% stake before acquiring the remaining shares in July 2024 to take full ownership of the D2C brand. The Man Company competes withBeardoandUstraain the men’s grooming segment. Beardo reported Rs 214 crore in operating revenue and Rs 13 crore in profit in FY25, while Ustraa posted Rs 73 crore in operating revenue and narrowed its losses to Rs 14 crore. The FY26 financial results of both companies are yet to be disclosed. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.