Hindustan Unilever (HUL) owned skincare brand Minimalist reported a 36% rise in revenue from operations to Rs 690.2 crore in FY26, according to its consolidated financial statements filed with the Registrar of Companies. The Jaipur-based brand had reported revenue of Rs 508.95 crore in FY25.
Minimalist also reported a total income of Rs 697.4 crore in FY26, compared with Rs 508.95 crore a year earlier. Profit after tax stood at Rs 25.9 crore, compared with a reported loss of Rs 270.5 crore in FY25.
Minimalist Returns To Profit As Costs Rise
The reported loss in FY25 was largely linked to a Rs 283.8 crore exceptional charge related to fair value adjustments on compulsorily convertible preference shares. On a pre-tax basis, Minimalist reported a profit of Rs 32.5 crore in FY26, compared with a loss of Rs 271.9 crore in the previous year.
Minimalist’s total expenses increased 34 percent to Rs 664.9 crore in FY26 from Rs 497.1 crore. Material costs rose 28 percent to Rs 219 crore, while employee benefit expenses increased 32.6 percent to Rs 48.5 crore.
Minimalist Advertising Spend Reaches Rs 235 Crore
Other expenses increased to Rs 416.7 crore from Rs 305.3 crore, making them the company’s largest cost category. The expenses include advertising and promotional activity, distribution, warehousing, professional services and other operating costs.
Minimalist spent about Rs 235 crore on advertising and promotional activities during FY26. The year also marked the skincare brand’s first full financial year under HUL ownership after the FMCG company acquired a 90.5 percent stake in Minimalist’s parent Uprising Science in April 2025.
HUL had agreed to acquire the stake at a pre-money enterprise value of Rs 2,955 crore, through secondary transactions and a primary capital infusion. The remaining 9.5 percent stake is to be acquired from the founders over two years.
