Indian direct-to-consumer fashion brand Snitch recorded a 67.7% year-on-year increase in revenue from operations to ₹835 crore in FY26, compared with ₹498 crore in FY25. However, the company continued to report a net loss, posting a loss of ₹27 crore during the financial year, according to its annual financial statements sourced from the Registrar of Companies.
Founded in 2020 by Siddharth Dungarwal, Snitch sells men’s apparel and accessories through its website and mobile application. These products remained the company’s primary revenue source during FY26. It also generated ₹14 crore in other income, mainly through interest on deposits and long-term investments, taking its total income to ₹849 crore.
The company’s growth has been accompanied by an expansion of its retail and delivery operations. Snitch has entered the quick-commerce segment and continued opening physical stores to increase its reach. According to its website, the brand operates 142 stores across India, including in metropolitan and Tier II cities.
Despite higher revenue, the company’s expenditure increased faster during the year. Total expenses rose 71.9% to ₹873 crore in FY26 from ₹508 crore in FY25.
Procurement of apparel and accessories remained the largest expense, accounting for around 51% of overall expenditure. This cost increased 92.2% to ₹444 crore from ₹231 crore in FY25. The company also spent ₹108 crore on advertising and marketing, while employee benefit expenses stood at ₹81 crore. Marketplace charges, rent, delivery and other operating costs contributed to the remaining expenditure.
Snitch spent ₹1.05 to generate every rupee of revenue during FY26. Its return on capital employed stood at -8.6%, while its EBITDA margin was -3%.
The company has raised more than $53 million in funding to date. Its previous major fundraise was a $40 million Series B round led by 360 ONE Asset in June 2025.
Snitch has expanded its revenue significantly over the past two financial years, with its business growing 3.4 times during the period. However, the latest financial results show that controlling procurement, marketing and operating expenses remains important as the company continues to expand its physical retail and quick-commerce presence.
