Fullife Healthcare Reports 14% Revenue Growth, Narrows Losses Through Cost Controls
Fullife Healthcare, owner of active nutrition brand Fast&Up and women's wellness line Chicnutrix, has posted revenue of Rs 187.2 crore for FY24, marking a 14% increase from the previous fiscal year.
The company's product portfolio generated its entire operational revenue. Fast&Up offers protein supplements, workout nutrition, and immunity boosters, while Chicnutrix provides specialized solutions for women's skincare, haircare, PCOS, and UTI management. An additional Rs 3.8 crore from non-operating sources brought total revenue to Rs 191 crore.
Despite competitive pressures in the sports nutrition market, Fullife reduced its losses by 38.8% to Rs 30 crore, down from Rs 49 crore in FY23, through strategic cost management initiatives. The company cut advertising expenditure by 22% to Rs 46 crore while maintaining procurement costs at 39% of total expenses, which increased marginally by 3.6% to Rs 87 crore.
Employee costs rose 15.6% to Rs 37 crore, contributing to the overall expenditure of Rs 222 crore when combined with freight, online selling costs, legal fees, and other operational overheads. The improved cost structure meant Fullife spent Rs 1.18 to earn each rupee of revenue in FY24.
Financial indicators showed positive momentum, with ROCE and EBITDA margins improving to -30.7% and -13.09%, respectively. The Mumbai-based nutrition company reported current assets totaling Rs 111 crore by fiscal year-end.
Having raised over $40 million in funding to date, including a significant $22 million investment from Morgan Stanley in 2021, Fullife's investor portfolio includes the late billionaire Rakesh Jhunjhunwala. Morgan Stanley remains the most critical external stakeholder with a 27.35% ownership position.
The domain of nutrition supplements is facing numerous growing challenges daily. One primary reason for this is that e-commerce expansion has removed traditional distribution barriers, and by doing so, they have intensified the competition across various segments. Numerous companies in the Rs 150-200 crore revenue bracket are finding themselves at a critical juncture wherein they need to balance growth ambitions with profitability. Industry analysts suggest brands increasingly pivot toward profitable regional operations rather than pursuing national expansion at the expense of their bottom line.