Sugar Cosmetics turned profitable in December; looking at 2-3 years’ timeline for IPO: Vineeta Singh

economictimes.indiatimes.com:

Vineeta Singh, Co-Founder & CEO, Sugar Cosmetics, says “We have already crossed Rs 500 crore revenue in FY24 and we are expecting to close FY24 at a 500 plus crore net revenue. ”

Singh also says: “We are looking at about a two to three years’ timeline in terms of an IPO because it is important to have some solid track record of profitability in the bank before taking the company public. This also aligned well with our board because we had an aspiration that we should go into the market at a Rs 1,000-crore plus revenue, plus profitability. And that is how we are expecting to look at.”

Let us start off by delving into the numbers that you have delivered because I remember in November, the company said that you are on track to hit profitability by the end of the ongoing fiscal year. Are you on track?
Vineeta Singh: I am wearing green so I think that should give you a hint. December is the first month that we have hit profitability and we expect to continue that into Q4. Last year our revenue grew about 89% and we managed to reduce our EBITDA margin, a loss margin by about 15% to come down to as you mentioned about minus 14% EBITDA which we aim to bring quite close to zero with December being the first month that we are profitable and Q4 also expecting to be a profitable quarter and all of this while continuing to grow at a healthy 30% year-on-year.

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So December was the first profitable quarter. Good for you. Hope that you build on that. And let us just talk about your