Minimalist Nears ₹700 Cr Income As Business Grows Under HUL

Minimalist has had a strong first full year under Hindustan Unilever. The skincare brand closed FY26 with total income of ₹697.4 crore, bringing it close to the ₹700 crore mark as its business continued to grow at a healthy pace.

Revenue from operations rose 36% to ₹690.2 crore during the year, compared with ₹506.5 crore in FY25. The growth comes after HUL acquired a 90.5% stake in Minimalist for ₹2,955 crore in January 2025, bringing the Jaipur-based D2C brand into one of India’s largest consumer goods portfolios.

Profitability also improved during the year. Minimalist’s EBITDA more than doubled to around ₹40.2 crore, while profit before tax and exceptional items stood at ₹32.5 crore. The company eventually ended FY26 with a profit after tax of ₹25.9 crore.

That growth, however, came with higher spending. Advertising and promotion remained the company’s biggest expense, rising 55% to ₹235 crore. Material costs increased to ₹184.8 crore, while distribution expenses, including marketplace commissions, reached ₹97.4 crore. Overall expenses for the year stood at ₹664.8 crore.

Founded in 2020 by Mohit Yadav and Rahul Yadav, Minimalist built its name around ingredient-focused skincare and haircare products sold through its own website as well as platforms such as Amazon, Nykaa and Flipkart. With revenue nearing ₹700 crore and profits improving, the FY26 numbers show that the brand is continuing to scale even after becoming part of HUL’s larger portfolio.