The menswear brand Wrogn founded by Anjana Reddy and Vikram Reddy returned to revenue growth in FY26 after a decline a year earlier, but a sharp rise in advertising, consultancy and other costs kept profitability under pressure. Wrogn is now targeting Rs 600 crore in GMV for FY27.
Virat Kohli-backed fashion brand Wrogn returned to growth in FY26, but the recovery in sales came with a heavier cost bill.
The Bengaluru-based menswear company recorded operating revenue of Rs 244 crore in FY26, up about 9% from Rs 223 crore in FY25. The improvement marks a change in direction for the brand after operating revenue had fallen 9% in the previous financial year. Its losses, however, moved the other way, widening during FY26.
Wrogn is operated by Universal Sportsbiz Private Limited (USPL) and sells casualwear including T-shirts, shirts, jeans and accessories. The company has received backing from investors including Virat Kohli, Accel and Aditya Birla, and reaches customers through both online and offline retail channels.
The headline revenue number tells only part of the story. Wrogn also generated income from non-operating activities such as interest on deposits and gains on financial assets, taking its total income to Rs 254 crore in FY26 from Rs 232 crore in FY25.
Advertising bill rises sharply
One of the more striking changes in Wrogn’s FY26 numbers came from advertising.
The company’s advertising expenditure climbed 44% to Rs 57.8 crore, while commission expenses increased 6% to Rs 42.1 crore. Consultancy charges more than doubled to Rs 19.7 crore. Other expenses, including depreciation, amortisation and finance costs, added another Rs 78.6 crore.
At the same time, not every major cost moved higher.
The cost of materials, Wrogn’s largest expense category, declined 5% to Rs 119.7 crore from Rs 125.7 crore in the previous year. It accounted for about 35% of the company’s expenditure. Employee benefit expenses, meanwhile, increased 14% to Rs 44.2 crore.
Taken together, Wrogn’s total expenditure rose 9.5% to Rs 342.4 crore in FY26, compared with Rs 312.6 crore a year earlier.
That cost base left the company deeper in the red. Wrogn’s loss widened to Rs 88.4 crore in FY26 from Rs 75.5 crore in FY25, an increase of about 17%. There was, however, some movement in its operating margin, with the EBITDA margin improving to negative 27.6% from negative 30.8% in the preceding year.
Another way of looking at the economics is that Wrogn spent Rs 1.4 for every rupee of operating revenue generated during FY26.
Cash position improves
Despite the wider annual loss, Wrogn ended the year with more cash on its books.
Cash and bank balances increased to Rs 24.3 crore at the end of FY26, up from Rs 9.7 crore a year earlier. Current assets stood at Rs 181 crore, compared with Rs 177.2 crore in FY25.
The early numbers from FY27 suggest the company is looking for a faster top-line expansion from here.
Wrogn said its gross merchandise value, or GMV, grew 40% year on year to Rs 125 crore in the first quarter of FY27, while its EBITDA loss narrowed 34% during the period. The company also said its adjusted EBITDA loss for FY26 had narrowed to Rs 38 crore.
For the full financial year, Wrogn is targeting Rs 600 crore in GMV. It also plans to take its exclusive outlet network to more than 100 stores by March 2027.
The immediate challenge is clear from the FY26 numbers. Wrogn has managed to put revenue back on a growth path, but that growth has yet to translate into a smaller statutory loss. How its expanding retail presence and higher GMV translate into revenue, while the company manages advertising and other operating costs, will be central to its FY27 financial performance.
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