Personalised haircare startup Traya reported a 72.6% YoY increase in revenue from operations to ₹585 crore in FY26, up from ₹339 crore in FY25. However, the company continued to remain loss-making, with its consolidated net loss widening to ₹29 crore from ₹23.5 crore a year earlier.
Founded in 2019 by Saloni Anand and Altaf Saiyed, Traya has built its business around personalised hair-loss management. Its approach combines hair assessments, customised treatment kits and consultations with hair coaches and licensed physicians.
The latest financial performance highlights the company's growing scale, but also the cost of acquiring customers in India's competitive D2C beauty and wellness market.
Traya’s Revenue Approaches Rs 600 Crore
Traya generated Rs 585 crore in operating revenue during FY26, compared with Rs 339 crore in FY25. It also earned approximately Rs 8 crore through gains from the sale of investments, taking total income to Rs 593 Cr from Rs 343 Cr.
The sale of personalised haircare kits accounted for its operating revenue during the year. The business model focuses on identifying potential causes of hair loss and recommending treatment plans based on individual customer requirements.
The company has positioned itself around a treatment-led approach rather than selling standard haircare products alone. This model has helped it build a sizeable consumer business, although the latest financial figures show that growth has not yet translated into net profit.
Advertising Costs Rise to Rs 275 Crore
Advertising remained Traya's largest expense in FY26, increasing nearly twofold to Rs 275 crore. It accounted for around 44% of the company's total expenditure of Rs 623 crore.
The cost of materials and products procured rose 68.7% to ₹140 crore, while employee benefit expenses stood at ₹81 crore. Higher spending on legal services, transportation, technology and administrative operations also contributed to the increase.
Overall expenditure grew 70.2% to ₹623 Cr from ₹366 Cr in FY25, slightly faster than operating revenue growth of 72.6%?
Losses Widen Despite Strong Growth
Traya reported a consolidated net loss of ₹29 Cr in FY26, compared with Rs 23.5 crore in the previous fiscal year.
At the unit level, the company spent approximately ₹1.06 for every rupee of operating revenue. Its ROCE stood at -44.7%, while EBITDA margin was -6.19%.
The numbers point to a business that is expanding rapidly but still faces pressure from customer acquisition and operating costs. Advertising alone accounted for a substantial part of expenditure, making marketing efficiency an important factor in the company's path towards profitability.
Traya’s Funding Plans and Investor Base
Traya has raised approximately Rs 96 crore to date, according to The Unicorn Magazine reporting. Its investors include Xponentia Capital, Fireside Ventures, Kae Capital and Whiteboard Capital.
In April 2024, the company secured Rs 75 crore from Xponentia Capital. More recently, it was reported that Traya was in discussions to raise around Rs 300 crore from Belgium-based investment firm Verlinvest. The proposed transaction, which could include primary and secondary components, had not been finalised at the time of reporting.
The reported fundraising discussions come as Traya looks to expand its business and strengthen its position in India's personalised haircare market.
Profitability Remains the Next Challenge
Traya's FY26 performance shows that demand for personalised haircare solutions can support substantial revenue growth. However, the company will need to ensure that advertising expenditure and other operating costs do not continue to rise at the same pace as sales.
For investors tracking India's D2C sector, the key indicators to watch will be customer acquisition costs, repeat purchases, contribution margins and the company's ability to improve EBITDA.
With co-founders Saloni Anand and Altaf Saiyed building a business approaching ₹600 crore in annual operating revenue, Traya has established considerable scale. Its next milestone will be converting that scale into sustainable profitability.
