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Soothe Healthcare Reports FY23 Financials: Rs 172 Crore in Revenue and Rs 97 Crore Net Loss

Delhi-based personal hygiene and self-care brand Soothe Healthcare has reported its financials for FY23, revealing a revenue of Rs 172 crore and a net loss of Rs 97 crore. The company aims to achieve breakeven by the end of the current financial year (FY24), but the target appears challenging given the significant losses incurred in the previous fiscal year. Soothe Healthcare manages various hygiene and self-care brands, including Paree, Baby Bear, and Super Liife, offering products such as sanitary pads, hair removal creams, razors, adult and baby diapers, and baby care items. The firm claims to sell around 5 million Paree sanitary pads per month and has a presence in 300,000 general stores, supermarkets, and e-commerce platforms.

In terms of expenses, the cost of materials consumed accounted for 43% of the overall expenditure, rising by 78.5% to Rs 116 crore in FY23. Employee benefits also increased by 26.5% during the fiscal year. Soothe Healthcare faced growth in freight, sales and marketing, commissions, legal professional, rent, and other overheads, resulting in a 22.6% rise in overall costs to Rs 271 crore in FY23. The company reported a 19.75% increase in losses, reaching Rs 97 crore in FY23 compared to Rs 81 crore in FY22. The return on capital employed (ROCE) and EBITDA margin improved to -95.7% and -42.7%, respectively. On a unit level, the company spent Rs 1.58 to earn a rupee in FY23.

Soothe Healthcare's total assets as of March 2023 amounted to Rs 194 crore, including inventories worth Rs 64 crore and bank balances of Rs 30 crore. The company was valued at approximately Rs 700 crore during its last fundraising round. A91 Partners holds the largest stake with 29.33%, followed by Britten Holdings and Sixth Sense Ventures. The company faces the challenge of delivering to its mid-market segment of aspirational value buyers, and its flagship product, Paree sanitary pads, may need to emerge as a success story to improve margins and secure a stronger position in the market.


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