Snitch FY26 revenue rises 67.7% to Rs 835 crore; net loss Rs 27 crore

By Amara Osei

Snitch’s revenue from operations rose 67.7% year on year to Rs 835 crore in FY26 from Rs 498 crore in FY25, according to annual financial statements sourced from the Registrar of Companies (RoC). The company reported a Rs 27 crore net loss even as total expenditure rose 71.9%, the same filings showed.

How did Snitch build scale?

Founded in 2020 by Siddharth Dungarwal, Snitch sells trendy men’s apparel and accessories through its website and app, according to Entrackr; apparel and accessories remain the company’s sole revenue stream. India’s men’s fast-fashion market has shifted significantly over the past few years, with consumers becoming more experimental in their style choices and fashion preferences, Entrackr said.

Entrackr said Snitch capitalized on that shift. Revenue grew 3.4X over the past two fiscal years while losses remained relatively contained, according to Entrackr. Snitch earned Rs 14 crore in other income, largely through interest on deposits and long-term investments, taking total income to Rs 849 crore in FY26, according to the RoC-sourced financial statements.

Snitch operates 142 stores across India, including metro and Tier II cities, according to its website. The brand has also entered quick commerce as it looks to expand its reach and delivery capabilities, according to Entrackr.

The company has raised over $53 million to date, according to Entrackr. The June 2025 Series B raised $40 million and was led by 360 ONE Asset, according to Entrackr.

What pushed costs above revenue?

Procurement of apparel and accessories remained Snitch’s largest cost component at around 51% of overall expenditure, according to the RoC-sourced statements. The expense increased 92.2% to Rs 444 crore in FY26 from Rs 231 crore in FY25.

Snitch spent Rs 108 crore on advertising and marketing during FY26, while employee benefit expenses increased to Rs 81 crore, according to Entrackr. Marketplace charges, rent, delivery and other overheads also added to the cost base, according to the Entrackr review.

Total expenditure reached Rs 873 crore in FY26 from Rs 508 crore in FY25, according to the RoC-sourced statements. Expenses grew slightly faster than revenue, producing Snitch’s Rs 27 crore net loss, according to Entrackr.

The filings put Snitch’s return on capital employed (ROCE) at -8.6% and its EBITDA margin at -3