Five consumer-business reads for Friday, September 4.
1. A Rs 125 crore beauty brand is wound up
On September 3, co-founder Param Bhargava said The Ayurveda Co and sister label Khadi Essentials are being formally closed, more than a year after trading stopped in July 2025. The two brands raised about Rs 125 crore, booked roughly Rs 250 crore of net revenue over seven years, reached 20 lakh customers and at peak ran 20 stores, 800 beauty counters, 110 distributors and 10,000 retail points. The 2023 Series A promised a profitable unicorn by FY26 and an IPO by FY28. The founder’s own diagnosis: too many channels, too many senior hires, before the system could carry them. Offline reach bought with venture money is a fixed cost, not an asset. (YourStory, Inc42)
2. Tata Sons clears Rs 10,000 crore for Air India, with conditions
The Tata Sons board has approved in principle an equity infusion of more than Rs 10,000 crore, about $1.1 billion, into Air India, among its largest commitments since the Rs 18,000 crore purchase in 2021. New rule: the airline must submit a business case for every future capital request. Air India’s FY26 loss rose to Rs 22,238 crore, and it had asked Tata Sons and Singapore Airlines for about $1.5 billion. The money will likely come in instalments and needs SIA to match its 25% share. Capital with conditions slows the discretionary spend first, which is usually cabin retrofits. (Economic Times, Reuters)
3. Simple Energy launches a Rs 1.1 lakh family scooter
The Wave is priced from Rs 1,09,999 ex-showroom with deliveries from September 25, four battery options from 110 km to 243 km, a 70-litre boot and a 90 km/h top speed. Simple wants 10,000 units a month in sales and capacity by March 2027, 170 outlets from 90 today, and a 20 to 25% contribution margin within twelve months. This is the price band where Ola, TVS, Bajaj and Ather sell most of their volume, and it arrives in a month when most electric two-wheeler brands sold fewer units than in July. Share taken, not market ridden, is the test. (Autocar India, Inc42)
4. RentoMojo goes public next week on a tax-assisted profit
The furniture-rental company filed its red herring prospectus on September 3; the IPO opens September 9 and closes September 11, with a Rs 150 crore fresh issue plus an offer for sale of up to 2.7 crore shares. FY26 revenue rose 45.5% to Rs 387 crore and restated profit rose 142% to Rs 104.2 crore, of which Rs 36.6 crore was a one-time tax credit, so underlying profit is nearer Rs 68 crore. Rival Furlenco reported a Rs 59.5 crore profit on Rs 370 crore revenue the same day. Two rental businesses turning properly profitable in one year says utilisation, not price, is doing the work. (Inc42, SEBI RHP)
5. Cars24 shrinks 18%, and its cash halves
Cars24’s FY26 operating revenue fell 18.3% to Rs 5,092 crore while net loss narrowed 18.7% to Rs 441 crore. Car sales fell 22.7%; service revenue more than doubled to Rs 206 crore but is still 4% of the total. Cash fell to Rs 377 crore from Rs 861 crore, borrowings rose 17% to Rs 959 crore, and employee costs rose 33% to Rs 806 crore in a year the top line shrank. The asset-light pivot protects cash but the loss is falling slower than revenue; the high-margin service line has to grow several times over before it covers the wage bill. (Inc42, MCA filings)
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