Yes Madam, the Noida-based at-home beauty services startup, reported robust financial growth in the year ending March 2025, with operating revenue nearly touching ₹100 crore while remaining profitable. The company’s expansion reflects rising urban demand for convenient, home-delivered salon and wellness services.
Business model and market context
Founded in 2016, Yes Madam operates a digital marketplace that enables customers to book beauty and wellness services—such as haircuts, facials, waxing and massages—at home via its app and website. The platform connects clients with trained professionals and earns through service commissions, subscription fees and product sales.
The at-home beauty segment in India has grown rapidly in recent years, driven by urbanisation, increasing female workforce participation, higher disposable incomes and a preference for convenience. Aggregator-led models that combine trained talent, app-based bookings and product retailing have become a dominant approach in this space.
Strong revenue growth in FY25
Yes Madam’s operating revenue more than doubled to ₹92.5 crore in FY25 from ₹45.8 crore in FY24, according to its financial filings. The jump reflects both an expanding customer base and greater uptake of at-home services across Tier I and II cities.
Product sales emerged as the company’s largest revenue stream, contributing about ₹50 crore—roughly 54% of operating revenue. Service-related income, which includes booking commissions and subscription fees, accounted for approximately ₹42.5 crore.
In addition to operating revenue, the company recorded about ₹2 crore from non-operating sources such as interest income, taking total income to around ₹94.5 crore for the year.
Profitability despite rising costs
Growth was accompanied by higher operating expenses as the company scaled. Product procurement was the biggest cost item, rising to ₹31.4 crore during FY25. Marketing and promotional expenses also increased as Yes Madam intensified customer-acquisition efforts, and employee benefit costs grew to ₹18.14 crore amid investments in talent and operations.
Despite these costs, the company reported a net profit of ₹1.8 crore for FY25, signalling disciplined unit economics and an ability to scale while maintaining profitability.
Outlook
With revenue approaching the ₹100 crore threshold and continued profitability, Yes Madam is consolidating its position in India’s expanding home beauty and wellness market. Going forward, the company’s ability to balance product-led revenue growth with sustainable service margins and controlled customer-acquisition costs will be key to sustained performance.
