Clensta reports a 100% growth in net revenue, GMV at INR 47.75 cr

Gurugram:  Clensta, a leading personal care brand that is backed by actress-turned-entrepreneur Parineeti Chopra has reported a whopping 100% growth in its net revenue with the GMV at INR 47.75 crore during Q1FY24, up from INR 25.86 crore it clocked in the corresponding quarter of FY’23.

Clensta’s revenue in the first quarter of the 2024 fiscal grew around 41% over the previous quarter, reflecting a strong and stable upward trajectory for the start-up brand. The company successfully brought down its EBITDA losses by nearly 80% in Q1 FY24 over the previous quarter reflecting an overall encouraging financial performance.

“Our 100% revenue growth validates the hard work and effort we’ve put in to build a responsible and sustainable brand on a strong and stable foundation. Our aggressive marketing strategy has finally paid off as Clensta is now on the radar of a larger and more diverse customer base. We look forward to continuing this upward graph as we expand and grow the business this year both in India and globally,” said Puneet Gupta, Founder, Clensta.

The brand’s Contribution Margin 3 or CM3 turned positive at 10% in Q1 FY24 from a negative -3% in Q4 FY23, signifying improved operational efficiency and scaling of manpower. The Return on Advertising Spend (ROAS) touched 2.44 in Q1 FY24, up 15% from the previous quarter.

Other factors that contributed to the success of this quarter were a 35% reduction in logistics costs compared to the previous quarter accompanied with a 22% reduction in Selling, General, and Administrative (SGA) expenses.

Clensta recently joined hands with actress Parineeti Chopra who joined the team as an investor, partner and brand ambassador. Since its inception, Clensta has secured funding from notable investors like IAN and IAN Fund, IPV, VCats and Hem Securities. In its most recent pre-Series B round of funding, Clensta raised INR 75 crore from investors led by TradeCred and co-led by the Royal Family of the UAE.