Traya Achieves Rs 236 Crore Revenue
Direct-to-consumer (D2C) health and wellness brand Traya recorded a remarkable threefold year-on-year growth, surpassing Rs 236 crore in revenue during the fiscal year ending March 2024. Along with this rapid growth, the Mumbai-based startup achieved profitability for the first time in the same period.
Traya Achieves Rs 236 Crore Revenue
As per its financial statements filed with the Registrar of Companies, Traya’s operational revenue surged 3.8 times to Rs 236 crore in FY24, up from Rs 61 crore in FY23.
Founded in 2019, Traya specializes in personalized solutions to tackle hair loss by identifying its root causes. The company provides customized products along with expert guidance from hair coaches and medical professionals.
Revenue from product sales contributed 99.36% of its total income, reaching Rs 234.5 crore in FY24, compared to Rs 61 crore in FY23. The remaining revenue came from courier services and doctor consultation fees.
Traya Achieves Rs 236 Crore Revenue
On the expense front, marketing and sales accounted for 43% of the total expenditure, rising twofold to Rs 98 crore in FY24 from Rs 51 crore in FY23. Procurement costs for raw materials also saw a sharp increase, growing 3.6 times to Rs 54 crore.
Employee benefits expenses grew fourfold to Rs 36 crore, while other operational costs, such as freight, legal, and travel, contributed to an overall 154% rise in total expenditure, which stood at Rs 229 crore in FY24 compared to Rs 90 crore in FY23.
Traya Achieves Rs 236 Crore Revenue
Despite the rise in expenses, Traya achieved a notable profit of Rs 9 crore in FY24, a significant turnaround from its Rs 28 crore loss in FY23. The company’s Return on Capital Employed (ROCE) and EBITDA margin improved to 8.7% and 5.04%, respectively. Traya spent Rs 0.97 for every rupee earned, showcasing improved cost efficiency.
By the end of FY24, the company’s total current assets stood at Rs 159 crore, including a cash reserve of Rs 85 crore.
Traya Achieves Rs 236 Crore Revenue
Traya has raised approximately Rs 96 crore to date, including a Rs 75 crore funding round led by Xponentia Capital in April 2023. Other notable investors include Fireside Ventures, Kae Capital, and Whiteboard Capital.
