Skincare brand Minimalist reported a 36% rise in income from operations to Rs 690.2 crore within the monetary yr ended March 2026, because the enterprise continued to broaden following Hindustan Unilever’s acquisition of a controlling stake.

Its income from operations stood at Rs 506.5 crore within the earlier yr, in accordance with comparative figures in its newest consolidated monetary statements filed with the RoC. Complete revenue reached Rs 697.4 crore in FY26, together with Rs 7.2 crore in different revenue.

The startup reported a PAT of Rs 25.9 crore, whereas earnings earlier than curiosity, tax, depreciation and amortisation, or EBITDA, greater than doubled to about Rs 40.2 crore. Its EBITDA margin was 5.82%.

Minimalist’s revenue earlier than tax (PBT) and distinctive gadgets rose to Rs 32.5 crore from Rs 11.9 crore within the earlier yr. The FY25 accounts had been affected by a Rs 283.8 crore fair-value loss on compulsorily convertible desire shares as a part of changes below Indian Accounting Requirements.

Complete expenditure elevated to Rs 664.8 crore throughout FY26 from Rs 497 crore within the comparative interval.

Promoting and promotional spending was the corporate’s largest disclosed price merchandise, rising 55% to about Rs 235 crore and accounting for greater than 35% of complete expenditure. Distribution bills, which largely embrace commissions paid to on-line marketplaces, stood at Rs 97.4 crore, whereas worker profit bills elevated by 32.5% to Rs 48.5 crore.

Different overheads, together with hire, transport, warehousing and authorized {and professional} charges, amounted to about Rs 99 crore.

Minimalist reported a return on capital employed of 11.6%. On the finish of March 2026, the corporate had present belongings of about Rs 346 crore, together with Rs 75 crore in money and financial institution balances.

Based in 2020 by Mohit Yadav and Rahul Yadav, Minimalist makes science-led skincare and haircare merchandise and constructed its enterprise largely by means of digital channels. HUL describes it as a digital-first model centered on efficacy and transparency.

HUL introduced in January 2025 that it’s going to acquire a 90.5% stake in Rebellion Science, the corporate behind Minimalist, by means of a mixture of secondary share purchases and a main capital infusion.

The transaction was structured at a pre-money enterprise worth of Rs 2,955 crore, topic to closing changes. HUL additionally set out a path to amass the remaining 9.5% stake after two years.

HUL’s subsequent regulatory filings present that Rebellion Science turned a subsidiary with impact from 21 April 2025. The FY26 outcomes due to this fact cowl the monetary yr wherein HUL took management of the enterprise, slightly than a full 12 months of HUL possession.

On the time the deal was introduced, HUL mentioned the acquisition will strengthen its Magnificence & Wellbeing portfolio and assist it broaden in premium magnificence.

Rohit Jawa, who was HUL’s CEO on the time, described the deal as “one other key step to develop our Magnificence & Wellbeing portfolio in high-growth premium demand areas”.

HUL has recognized analysis and growth, offline distribution, supply-chain scale and Unilever’s worldwide presence as areas the place it expects to assist broaden Minimalist.

The deal comes amid rising curiosity from international shopper corporations in India’s digital-first magnificence and private care companies.