Yes Madam’s revenue jumps over 2X to Rs 195 Cr in FY26

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Home salon services platform Yes Madam more than doubled its operating revenue to Rs 195 crore in FY26 for the second straight year, taking its revenue to over 4X in two years, but slipped into losses amid higher employee and advertising costs during FY26.
The company’s revenue from operations jumped 2.07X to Rs 195 crore in FY26 compared with Rs 94 crore in FY25, according to its financial statements filed with the Registrar of Companies (RoC).
Founded in 2016, Noida-based Yes Madam is an at-home beauty and wellness services platform that offers services such as haircuts, facials, waxing and massages through its app and website. The company has also launched instant salon and spa services, enabling customers to book at-home services within 30 minutes.
Revenue from the sale of services, which includes commission income earned as an agent between service professionals and end customers, along with subscription and royalty income, contributed 51% of Yes Madam’s operating revenue. This segment grew 2.3 times to reach Rs 100 crore mark in FY26. 
Revenue from product sales rose 90% to Rs 95 crore from Rs 50 crore during the same period, accounting for the remaining 49% of operating revenue.
On the expense side, advertising and promotional expenses emerged as the largest cost for the firm, which surged 2.31X to Rs 67 crore in the last fiscal year from Rs 29 crore in FY25, while the cost of materials consumed rose 90.6% to Rs 61 crore.
Employee benefit expenses also more than doubled to Rs 43 crore, while freight costs also increased 164.2% to Rs 4.28 crore during the same period.
Other expenses, including information technology, rent and legal and professional charges, collectively added Rs 27.7 crore in FY26. As a result, Yes Madam’s total expenditure jumped 2.21X to Rs 203 crore in FY26 from Rs 92 crore
Noida-based Yes Madam reported a net loss of Rs 7.75 crore in FY26, compared with a net profit of Rs 1.83 crore in FY25, as expenses grew faster than revenue. Its EBITDA margin also declined to -3.89% from 2.18% during the same period.
On a unit basis, the company spent Rs 1.04 to earn every rupee of operating revenue in FY26, compared with Rs 0.98 in FY25.
At the end of March 2026, the firm had cash and bank balances of Rs 2.03 crore, while total current assets increased to Rs 32.34 crore from Rs 21.41 crore a year earlier.
Yes Madam remained bootstrapped for nearly a decade before raising its first institutional funding of Rs 50 crore from Info Edge at a valuation of Rs 750 crore earlier this year. According to media reports, the company is now in talks to raise Rs 250 crore from Xponentia Capital Partners, Riverwalk Holdings and other investors at a valuation of around Rs 1,900 crore.
According to Yes Madam’s press release, its revenue grew 11% quarter-on-quarter to Rs 79.4 crore in Q2 FY27, while NTV rose 12% to Rs 165.8 crore. On a year-on-year basis, revenue and NTV grew 69% and 75%, respectively. Over two years, revenue increased 3.9 times and NTV 3.5 times, taking their annualised run rates to Rs 402 crore and Rs 836 crore, respectively.