Innovist, the parent company of beauty and personal care brands Bare Anatomy, Chemist at Play and SunScoop, reported a sharp rise in revenue and profit in FY26, with operating revenue climbing to Rs 685.71 Cr from Rs 246.69 Cr in FY25.
The company, which operates through Onesto Labs, posted a net profit of Rs 21.51 crore for the year ended March 31, 2026, up 87% from Rs 11.5 crore a year earlier, according to its consolidated financial statements. Total income, including other income, increased to Rs 692.39 crore from Rs 249.05 Cr.
The results underline the scale Innovist has reached in India’s competitive beauty and personal care market, where digital-first brands are building businesses around ingredient-led products, online distribution and consumer marketing. The growth also comes amid a major ownership change: French beauty group L’Oréal announced an agreement to acquire a majority stake in Innovist in June 2026.
Innovist’s Expenses Rise Alongside Revenue
Innovist’s rapid expansion came with a substantial increase in costs. Total expenses rose 165% to Rs 661.57 crore in FY26, compared with the previous year.
Other expenses were the largest cost head, increasing to Rs 448.56 crore from Rs 147.29 crore. Employee benefit expenses rose to Rs 39.32 crore from Rs 19.2 crore, while depreciation and amortisation increased to Rs 9.42 crore from Rs 3.49 crore.
Despite higher expenditure, the company reported a profit before tax of Rs 30.47 crore, compared with a pre tax loss of Rs 55 lakh in FY25. Its previous-year net profit was supported by a tax credit of ₹12.34 crore. In FY26, Innovist recorded a total tax expense of ₹8.88 crore.
The distinction matters: the increase in net profit reflects both stronger operating performance and the impact of tax items in the comparison year. Revenue growth alone does not show how efficiently the business is converting sales into profit.
Assets More Than Double as Working Capital Expands
Innovist’s total assets increased to Rs 383.01 crore as of March 31, 2026, from Rs 141.88 crore a year earlier.
Trade receivables rose to Rs 125.59 crore from Rs 34.91 crore, while inventories increased to Rs 74.09 crore from Rs 28.11 crore. The company reported Rs 30.66 crore in cash and cash equivalents, alongside an additional Rs 50 crore in bank balances.
The increase in receivables and inventory is worth tracking as the company scales. These figures can reflect a larger operating business, but they also make collection cycles, inventory planning and cash-flow management important measures of financial performance.
Innovist Founders and L’Oréal’s Acquisition
Innovist was founded by Rohit Chawla, Sifat Khurana and Vimal Bhola. The company’s portfolio includes Bare Anatomy, Chemist at Play and SunScoop, with products focused on haircare, skincare and sun protection.
In June 2026, L’Oréal announced an agreement to acquire a majority stake in Innovist, bringing its brands into the French group’s Consumer Products division. The announcement did not disclose the financial terms.
Innovist’s FY26 performance offers a view of the business before the acquisition. Its revenue growth shows the scale the company had reached, while its cost base and working-capital figures highlight the financial discipline required to sustain that expansion.
For India’s D2C beauty sector, the results also show why brand growth needs to be assessed alongside profitability, cash generation and operational efficiency. As Innovist enters its next phase under L’Oréal’s ownership, these measures will be important in understanding how its brands develop.
