Cult.fit has reported a strong financial performance for FY26, with its operating revenue reaching ₹1,720 crore. The fitness and wellness company also achieved positive adjusted EBITDA during the year, marking an important milestone as it prepares for its planned initial public offering (IPO).
The Bengaluru-based company has been focusing on improving its business while expanding its presence in fitness centres, digital fitness services, sports products, and wellness offerings. Along with better financial results, Cult.fit has completed a major corporate restructuring, raised fresh funding, and continued to expand its retail business before moving towards a public listing.
NCLT approves restructuring as Cult.fit prepares for IPO
To simplify its corporate structure before the IPO, Cult.fit completed a major restructuring that was approved by the National Company Law Tribunal (NCLT), Chennai.
As part of the approved plan, two business units have been transferred to Curefit Healthcare Private Limited. The first business includes CultPass Elite and CultPass Pro memberships, personal training services, and marketing-related revenue. The second business manages only the CultPass Elite and CultPass Pro membership subscriptions.
After these transfers, the remaining business of Curefit Services Private Limited will be merged with Curefit Healthcare Private Limited.
The restructuring plan was first submitted in September 2025 and later received approval from the company’s equity shareholders, preference shareholders, and unsecured creditors. The move is expected to simplify the company’s operations and create a clearer corporate structure before its IPO.
Cult.fit also strengthened its financial position before the IPO by raising fresh capital from Singapore-based investment firm Temasek through its investment arm, MacRitchie Investments.
In March 2026, the company raised ₹440 crore by issuing 90.98 lakh Series G Compulsorily Convertible Preference Shares at ₹483.62 per share. The investment kept Cult.fit’s valuation at around ₹13,668 crore, or nearly $1.45 billion.
Following this investment, MacRitchie Investments became the company’s largest individual shareholder, showing continued confidence from institutional investors as Cult.fit moves closer to its public listing.
New fitness formats and retail business support growth
Cult.fit’s improved financial performance was supported by the expansion of both its fitness centres and retail business.
The company launched Cult Neo, a budget-friendly gym format that offers annual memberships between ₹10,000 and ₹12,000. It also introduced Pilates Circle by Cult, a premium fitness studio where around 75% of the customers are women.
With these new formats, Cult.fit aims to serve customers across different price segments while attracting more people to its fitness network.
The company also continued to grow its Cultsport business, which sells fitness apparel, gym equipment, treadmills, massagers, and other wellness products.
During FY26, the retail business recorded around 60% year-on-year growth and generated revenue of ₹522.8 crore. The company also shipped more than 4.2 million fitness products during the year.
Cult.fit’s management wants the retail business to contribute nearly half of the company’s total revenue in the future. This strategy will help the company become more than just a gym chain by building a larger sports and wellness brand.
Legal cases continue as company moves towards public listing
Even as the company reported better financial performance, some legal matters remain ongoing.
In one case, the High Court gave interim relief to Cult.fit’s directors and brand ambassador Hrithik Roshan after a cheating complaint was filed by customers in Hyderabad. The court directed the Cyberabad Police not to take any coercive action against them while the matter is being heard.
Cult.fit is also involved in an antitrust case before the Competition Commission of India (CCI), filed by partner gym operator Creed Gym.
Creed Gym has alleged that Cult.fit violated an exclusivity agreement and used customer data to promote its own products and services. Cult.fit has denied these allegations, saying that it does not own gyms directly and only licenses the Cult.fit brand to partner fitness centres.
Despite these ongoing legal cases, Cult.fit ended FY26 on a positive note. The company reported positive adjusted EBITDA, completed its corporate restructuring, secured fresh investment, and continued to expand its fitness and retail businesses. These developments strengthen its position as it prepares for its IPO and aims to grow further in India’s fast-growing fitness and wellness market.