Bewakoof Crosses ₹200 Cr in Revenue — But the Loss Curve Turns the Wrong Way

Bewakoof sold significantly more in FY26, but stronger revenue was not enough to keep its bottom line moving in the same direction. The D2C fashion brand crossed the ₹200 crore revenue mark even as its net loss widened after improving in the previous financial year.

Revenue from operations climbed 40.6% year-on-year to ₹243.1 crore from ₹173 crore in FY25. Including ₹5 crore in other income, Bewakoof’s total income reached ₹248.2 crore. However, net loss increased 19.4% to ₹87.4 crore from ₹73.2 crore, reversing the bottom-line improvement reported a year earlier.

The picture looked somewhat better at the operating level. Bewakoof’s EBITDA loss narrowed 7.2% to ₹54.8 crore from ₹59 crore, suggesting some improvement in operating efficiency even as the final loss expanded. The pressure came alongside total expenses rising 35.4% to ₹335.6 crore during the year.

Several cost lines moved sharply higher. Raw-material expenses increased nearly 30% to ₹70.6 crore, while purchases of stock-in-trade jumped 67.4% to ₹63.6 crore. Depreciation more than doubled to ₹16.6 crore, while other expenses — including marketing, promotions and office costs — rose 20.9% to ₹146.6 crore.

Founded in 2012, Bewakoof built its name around affordable, youth-focused apparel before expanding into accessories, bags and lifestyle products. Aditya Birla Fashion and Retail’s digital-brand platform TMRW acquired a majority stake in the company in 2022, with the transaction completed in 2023.

Bewakoof now sits inside a TMRW portfolio that continues to expand both digitally and offline; ABFRL said the broader digital-brand business grew 29% year-on-year in Q3 FY26. For Bewakoof itself, FY26 leaves a mixed scorecard: the brand is scaling faster, but converting that growth into a sustainably smaller loss remains the harder part of the story.