Snitch FY26 Revenue Rises 68% to ₹835 Crore
- Snitch’s FY26 operating revenue rose 67.7% to ₹835 crore, according to RoC-sourced financial statements.
- The company reported a ₹27 crore net loss as total expenditure increased 71.9% to ₹873 crore.
- Procurement costs rose 92.2% to ₹444 crore, making it the company’s largest expense.
- Snitch has expanded to 142 stores and has also entered quick commerce to strengthen its distribution.
Men’s fashion brand Snitch reported a 67.7% year-on-year increase in revenue from operations to ₹835 crore in FY26, compared with ₹498 crore in FY25, according to its annual financial statements sourced from the Registrar of Companies (RoC).
The Bengaluru-based brand has grown its operating revenue more than threefold in two years, from ₹243 crore in FY24. Snitch also earned ₹14 crore in other income, primarily from interest on deposits and long-term investments, taking its total income to ₹849 crore in FY26.
Founded by Siddharth Dungarwal, Snitch sells men’s apparel and accessories through its website, app and offline stores. The company has also entered quick commerce as it expands its distribution network. According to its website, Snitch now operates 142 stores across metro and Tier II cities in India.
Revenue Growth Comes With Higher Operating Costs
Procurement remained Snitch’s largest expense in FY26, increasing 92.2% to ₹444 crore from ₹231 crore in FY25. The expense accounted for roughly 51% of the company’s total expenditure.
The company spent ₹108 crore on advertising and marketing during the year, while employee benefit expenses rose to ₹81 crore. Marketplace charges, rent, delivery costs and other overheads also increased as the company expanded its operations.
As a result, total expenditure rose 71.9% to ₹873 crore, compared with ₹508 crore in FY25. With costs growing faster than operating revenue, Snitch reported a net loss of ₹27 crore for FY26.
At the unit level, the company spent ₹1.05 to generate every rupee of operating revenue. Its EBITDA margin stood at -3%, while return on capital employed (ROCE) was -8.6%.
Snitch Expands Stores and Quick-Commerce Presence
Snitch has continued to expand beyond its online-first roots through physical retail and quick commerce. Its latest funding round was a $39.6 million Series B led by 360 ONE Asset in June 2025, with participation from Ravi Modi Family Office, IvyCap Ventures and SWC Global. The company has raised more than $53 million to date.
The company entered quick commerce in October 2025 with Snitch Quick, offering apparel delivery in under 60 minutes. Earlier company disclosures said the service was operational in Bengaluru, Delhi, Gurugram and Ahmedabad, with further expansion planned.
Snitch is also expanding its product portfolio beyond core menswear into categories such as footwear, perfumes and accessories. The combination of offline stores, its own digital channels and quick-commerce distribution is expected to support its next phase of growth.
However, the FY26 financials show that the company’s revenue growth continues to come with pressure on profitability. Controlling procurement, marketing and other operating costs while maintaining its expansion pace will be important as Snitch scales further.
