The story tells the tale of Rosy – the heroine of a (pulp fiction) erotic novel. But Rosy is every woman, and the movie narrates parallel tales of four women who all live in the same neighbourhood in Bhopal. She is Rehana, the young college going girl who loves jeans and Miley Cyrus and is a talented singer but is forced to sew and wear burkhas that make her invisible to the world. She combats this by stealing makeup and clothes to match her dreams.

Rosy is also Leela–a beautician forcefully betrothed by an impoverished and struggling mother who gives vent to her sexual fantasies with a photographer. Rosy is also Shireen, an ace saleswoman, who is nothing more than a sex object for her husband. The promise of a lucrative job is weighed against the life of abuse and unwanted pregnancies. Rosy is also Usha Buaji- the ageing widow who has all but forgotten her own name, and is expected to attend Satsangs and play the old matriarch but whose desires lead her to indulge in phone sex with a young swimming coach.

Throughout the course of the film, the women rebel and do the exact thing that they are told but all of their tales go downhill. Rehana's perfect life with her boyfriend goes bust when she is put behind bars for thievery and her father discovers about it. Leela, who has finally moved on with her fiancée, is forced to call it off when he discovers a sex tape from the day of their engagement with Leela's photographer boyfriend. Shireen's promotion day becomes a doomsday for her job when her husband discovers about her saleswoman job. Usha Buaji's sexual fantasies were exposed to her community who revered her when the swimming coach finds out the truth about "Rosy"'s identity.

The red lipstick that connects them all is the sign of the underlying freedom that every woman seeks. It is about all women living in the shadow of tyranny, and how they all choose to defy their lower-middle-class society rules to find their own freedom.