Bold Care, a men's sexual wellness brand, reported an annual revenue run-rate of Rs 40 crore in December of last year. The company's FY24 operating revenue of around Rs 33 crore suggests that the claim is on track. But in the most recent fiscal year, the company's losses exceeded its revenue increase.

According to Bold Care's consolidated financial accounts filed with the Registrar of Companies (RoC), the company's operating revenue climbed 6.67% to Rs 32.9 crore in the most recent fiscal year from Rs 30.90 crore in FY23.

Bold Care provides men's wellness goods that include performance supplements, hair care products, and general health solutions.

Direct-to-consumer (D2C) sales, mostly via its website and third-party e-commerce marketplaces, are a key component of its business strategy. The company's only source of revenue during the previous fiscal year was the sale of goods including condoms, lubricants, and oils, among others.

The company's international operations only contributed Rs 30 lakhs to Bold Care's coffers in FY24, while India accounted for nearly all of its revenue.

The biggest expense for Bold Care was material costs, which dropped 10.71% annually to Rs 15.09 crore. But in FY24, advertising and promotional expenses increased 11.09% to Rs 14.02 crores.

Legal and professional costs went up 41.35%, while employee benefit costs went up 38.36% to Rs 4.22 crore. Notably, during the previous fiscal year, the amount of discounts permitted increased by 97.79% to Rs 2.69 crores. The startup reported spending Rs 53.9 crore in total.

Bold Care recorded a loss of Rs 19.3 crores in the fiscal year ended March 2024, which climbed by 21.46% due to higher operating expenditures, including promotional spending. Its EBITDA margin was -11.71%, and its ROCE was -40.8%. In FY24, the business spent Rs 1.63 per unit to generate one rupee of operational revenue.

In December 2023, Bollywood star Ranveer Singh became a co-owner of the business after investing an undisclosed sum. The founding team of Bold Care owns more than 55% of the business, according to startup data intelligence platform TheKredible.

Bold Care launched its new brand, Bloom, last month, marking its entry into the women's market. It faces competition from direct-to-consumer wellness and sexual brands like Beardo and Man Matters.