Brands
SUGAR Cosmetics FY23 revenue surges 90 per cent, EBITDA margin up by 16 per cent
Mumbai: SUGAR Cosmetics, an omnichannel beauty company and a cult favorite among gen Z and millennial consumers, today announced a significant milestone in its financial journey with a remarkable 90 per cent growth in revenues in the recently concluded fiscal year. Having improved its EBITDA margin by as much as 16 per cent during the same period, the company is on track to hit profitability by the end of FY24, reaffirming its dedication to financial stability and long-term success.
In FY23, the company posted a sharp rise in income totaling 428.4 crores, up from 223.8 crores in the previous year. Losses for the year were contained to FY22 levels which improved the overall EBITDA margins from -31.4 per cent in FY22 to -16.5 per cent in FY23 – a shift that firmly places the company on the path to break even in the current fiscal year.
“We are excited to continue to grow into becoming a key player in India’s fast-growing beauty & personal care landscape – and the results of all the hard work that the team has put in are there for all to see. Having gained market share from some of the legacy brands in the last two years, we had charted a clear roadmap to sustainable growth, and this year’s jump in scale while improving our bottom line is a testimony to our discipline and commitment to becoming a large and profitable enterprise. With our gross margins continuing to improve and trend at nearly 73 per cent (up 280bps over FY22) for the overall business, we are confident of hitting break-even in the current fiscal.” – said SUGAR Cosmetics co-founder & COO Kaushik Mukherjee.
SUGAR Cosmetics’ dedication to product innovation, marketing excellence, and financial stability has solidified its standing as a prominent player in an industry with many legacy brands. With an ever-expanding portfolio of top-tier products and a loyal customer base, the brand is poised to strive for continued success in India’s fast-growing beauty and cosmetics sector.
Brands
Hyundai Venue crosses 1 lakh bookings, adds HX8 Diesel AT variant
New top-spec automatic diesel trim brings ventilated seats, OTA updates and paddle shifters.
MUMBAI: Hyundai Venue just hit the jackpot and upgraded the prize because when you cross 1 lakh bookings, you don’t just celebrate, you throw in paddle shifters and ventilated seats for the ride. Hyundai Motor India Limited (HMIL) announced that the all-new Hyundai Venue has achieved 1 lakh bookings, cementing its strong position in the compact SUV segment. To mark the milestone and further enhance customer choice, the company introduced the new HX8 Diesel Automatic (AT) variant.
The HX8 Diesel AT is powered by the proven U2 1.5L CRDi diesel engine paired with a 6-speed automatic transmission. It adds a host of premium comfort, safety and convenience features, including:
- Ventilated front seats
- Dual-tone leatherette seats with VENUE branding
- Electric 4-way driver seat adjust
- Controller Over-the-Air (OTA) updates
- Hyundai Bluelink connected car technology
- Electric parking brake with auto hold
- Rear disc brakes
- Ambient lighting on crash pad and central console
- Drive mode select (Eco, Normal, Sport)
- Traction control modes (Sand, Mud, Snow)
- Paddle shifters
HMIL, managing director & CEO Tarun Garg said, “We are delighted that the new Hyundai Venue has crossed 1 lakh bookings, reaffirming the strong trust Indian customers place in our brand. The introduction of the new HX8 Diesel Automatic variant further strengthens the Venue lineup, offering customers the perfect blend of diesel efficiency, torque-rich performance and effortless convenience.”
Backed by Hyundai’s extensive sales and service network, the Venue continues to appeal to buyers seeking a feature-rich, comfortable and future-ready compact SUV. The new variant reinforces HMIL’s focus on delivering advanced technology, safety, comfort and value while adapting to evolving customer preferences.
In a segment where bookings are the real horsepower, Hyundai isn’t just counting milestones, it’s handing drivers an automatic upgrade that makes every journey feel like the victory lap.
