Nutrition and wellness brand Oziva had a strong year on the revenue front, with sales growing sharply in FY26. However, higher marketing spending and employee stock option costs pushed the company deeper into losses.
Oziva, which is now fully owned by Hindustan Unilever Limited (HUL), reported revenue from operations of Rs 463.4 crore in FY26, up 80% from Rs 257.8 crore in FY25.
The company sells a range of nutrition and wellness products, including plant-based supplements, protein products, vitamins and products focused on skin and hair health.
Product sales continued to be the only source of operating revenue during the year.
India Remains the Main Market
India continued to be the biggest market for Oziva.
Domestic revenue increased to Rs 454 crore in FY26 from Rs 257 crore in the previous year.
The company also saw growth in international markets, with revenue reaching Rs 8.3 crore in FY26 compared with just Rs 8.3 lakh in FY25.
Including Rs 4.1 crore earned from non-operating activities, Oziva’s total income stood at Rs 467.5 crore during the fiscal year.
Marketing Takes a Big Jump
While sales grew strongly, Oziva also spent heavily to support that growth.
Advertising and promotional expenses remained the company’s biggest cost.
Marketing spending more than doubled to Rs 246.2 crore in FY26 from Rs 119.8 crore in FY25. This amount alone made up more than half of Oziva’s total expenses.
The cost of materials used in making its products also increased 63% to Rs 116 crore.
Employee benefit expenses nearly doubled to Rs 45.4 crore from the previous year.
A major part of this increase came from cash-settled employee stock options, or ESOPs. The company recorded Rs 22 crore in ESOP-related costs in FY26, compared with Rs 7 crore in FY25.
Transportation and logistics costs also increased 57% to Rs 36.9 crore.
Losses Increase Despite Strong Sales
The sharp increase in expenses had an impact on Oziva’s profitability.
The company reported a net loss of Rs 18.5 crore in FY26, compared with a loss of Rs 4.2 crore in FY25.
Oziva said the cash-settled ESOP expense played a major role in the higher loss as employees exercised their stock options following the change in ownership.
If the Rs 22 crore ESOP-related expense is excluded, Oziva would have reported an estimated profit of around Rs 3.5 crore for FY26.
This shows that the company’s core business was much closer to profitability than the reported net loss suggests.
Cash Position
At the end of FY26, Oziva had Rs 8.8 crore in cash and bank balances, down 67% from the previous year.
The company’s current assets stood at Rs 106 crore.
The numbers show that while Oziva has grown its business rapidly, it has also been spending heavily on marketing, people and expansion to support that growth.
HUL Takes Full Control
Oziva’s FY26 performance comes at an important time for the company because its ownership has recently changed.
In February 2026, Hindustan Unilever acquired the remaining 49% stake in Oziva for Rs 824 crore, making the nutrition brand a wholly owned subsidiary of HUL.
HUL had first acquired a 51% stake in Oziva in December 2022 for Rs 264.28 crore.
The latest transaction valued Oziva at around Rs 1,682 crore.
That means the valuation has increased significantly compared with the level implied by HUL’s first investment in the company.
With HUL now owning the entire business, Oziva enters its next phase with a much bigger parent behind it.
For the brand, the big opportunity ahead will be turning its strong revenue growth into consistent profits while managing marketing costs and building a larger nutrition and wellness business in India and international markets.
