Kaya is looking to make the services more affordable to customers, said Rajiv Nair, CEO of the company.

Nair said that the current year is witnessing almost 15 to 20 percent of reduction in terms of prices. However, the price cut will not affect the profitability, he added.

The stock has lost nearly a quarter in value over the last one year and is now trading near its 52-week low.

“We operate in Indian market as well as the Middle East market. We are present in more than 20 cities in India, we have more than 100 stores in India and about 25 stores in the Middle East,” said Nair.

“In terms of rupee value, we spend about Rs 18 crore in advertising which is basically the whole of the marketing pie out, of which about 70 percent of the spending is towards digital marketing," he added.