Honasa Consumer Ltd
HONASA NSE
Honasa Consumer Ltd
Consumer GoodsNSE: HONASA BSE: 544014 Personal Care
Key Fundamentals
SmallcapPersonal CareConsumer GoodsMarket Cap
₹15,406 Cr
Volatility
Moderate
P/E Ratio
77.66
EBITDA
₹231 Cr
Return on Equity
6.16%
Debt to Equity
0.1
Book Value
₹43.33
EPS
₹3.89
52W High
₹491.35
52W Low
₹248.4
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Honasa Consumer Ltd insights
44 extracted metrics + investor summaries across FY21–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Weaknesses
1- Stock is trading at 11.0 times its book value
Growth Rate
Revenue Growth
11.48% ↗
Net Income Growth
171.28% ↗
Cash Flow Change
-56.58% ↘
ROE
-38.95% ↘
ROCE
-38.69% ↘
EBITDA Margin (Avg.)
36.15% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk high
Honasa Consumer (Mamaearth parent) reported FY26 revenue of Rs 2,392 crore (up 15.7% YoY) and net profit of Rs 200 crore (up 175% YoY from Rs 73 crore in FY25), with Q4 FY26 delivering record quarterly revenue of Rs 682 crore (up 28% YoY). The stock trades at a PE of 74.6x and 10.6x book value, reflecting premium valuations relative to earnings, with a market cap of approximately Rs 14,966 crore.
Bull Case 8
- FY26 net profit surged 175% YoY to Rs 200 crore from Rs 73 crore in FY25, demonstrating a sharp earnings recovery and operating leverage
- Q4 FY26 revenue hit a record Rs 682 crore, growing 28% YoY, indicating accelerating topline momentum after the distribution realignment phase
- EBITDA more than tripled from Rs 69 crore in FY25 to Rs 231 crore in FY26, showing significant margin expansion
- 5-year compounded sales CAGR of 39% reflects sustained high revenue growth trajectory since inception
- Management guided for 30%+ YoY revenue growth in Q1 FY27, suggesting continued strong demand across brands
- FII holding increased from 13.64% to 16.09% over recent quarters, indicating rising institutional confidence
- Multi-brand portfolio (Mamaearth, The Derma Co., Aqualogica, BBlunt, Dr Sheth's, Reginald Men) diversifies revenue risk beyond a single brand
- Gross profit margin of 70.3% in FY25 is well above traditional FMCG peers, providing room to invest in growth while maintaining profitability
Bear Case 8
- PE ratio of 74.6x is significantly higher than established FMCG peers like HUL (mid-50s PE), demanding sustained high growth to justify valuation
- Stock trades at 10.6x book value, indicating very limited margin of safety if growth disappoints
- Q4 FY25 net profit fell 18% YoY to Rs 25 crore, showing earnings can be volatile and the turnaround is recent
- FY25 revenue grew only 7.7% YoY to Rs 2,067 crore, a sharp deceleration from the 5-year 39% CAGR, highlighting execution risks during distribution transitions
- Promoter holding has gradually declined from 34.99% to 35.47% range after earlier dilution, and remains below 40%, which is relatively low for a founder-led consumer company
- ROE of 16% in the last year, while turning positive, remains below the premium implied by a 10.6x P/B multiple which would require sustained ROE above 25% to be justified
- Competes against deeply entrenched incumbents like Hindustan Unilever (28% market share in skincare) and Marico with far greater distribution scale and brand legacy
- Dividend yield of only 0.65% (Rs 3 per share, first-ever dividend) provides minimal income cushion for investors at current price levels
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 16h ago Positives 1
- New CMO appointed from HUL Aug 6
Nilesh Kotalwar appointed as Chief Marketing Officer effective August 6, 2026, bringing 15 years of experience from HUL and Godrej after serving as SVP of Online Revenue.
Neutral 2
- Dubai court ruling, no financial impact Aug 8
Dubai's Cassation Court upheld an AED 1,707,407.06 award to RSM General Trading LLC, but Honasa stated no financial impact as an Indian Arbitral Award permanently bars RSM from proceeding in Dubai courts and mandates repayment of any sums recovered.
- Q1FY27 earnings call scheduled Aug 2
Honasa has scheduled its earnings conference call for August 13, 2026, to discuss unaudited financial results for the quarter ended June 30, 2026.
TL;DR: Honasa Consumer faces no material headwinds currently, with a Dubai court dispute effectively neutralized by Indian arbitration protections. The appointment of a seasoned CMO from HUL signals intent to strengthen brand-building capabilities. Investors should watch the upcoming Q1FY27 earnings call on August 13 for revenue trajectory and margin trends as the company continues its growth phase.
Quarterly Results
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 388 | 464 | 496 | 488 | 471 | 554 | 462 | 518 | 534 | 595 | 538 | 602 | 657 |
| Expenses | 391 | 435 | 456 | 454 | 438 | 508 | 493 | 491 | 507 | 549 | 490 | 536 | 580 |
| Operating Profit | -3 | 29 | 40 | 34 | 33 | 46 | -31 | 26 | 27 | 46 | 48 | 65 | 77 |
| OPM % | -0.8% | 6% | 8% | 7% | 7% | 8% | -7% | 5% | 5% | 8% | 9% | 11% | 12% |
| Other Income | -148 | 13 | 7 | 11 | 19 | 19 | 20 | 19 | 21 | 24 | 20 | 16 | 19 |
| Interest | 2 | 1 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Depreciation | 8 | 6 | 6 | 8 | 10 | 9 | 11 | 13 | 12 | 11 | 12 | 11 | 11 |
| PBT | -161 | 34 | 39 | 35 | 39 | 52 | -24 | 29 | 32 | 56 | 53 | 67 | 82 |
| Tax % | 1% | 27% | 25% | 25% | 22% | 23% | -24% | 12% | 22% | 26% | 26% | 25% | 15% |
| Net Profit | -162 | 25 | 29 | 26 | 30 | 40 | -19 | 26 | 25 | 41 | 39 | 50 | 69 |
| EPS in Rs | -11.73 | 1.9 | 2.16 | 0.8 | 0.94 | 1.24 | -0.57 | 0.8 | 0.77 | 1.27 | 1.21 | 1.54 | 2.13 |
Profit & Loss
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 460 | 943 | 1,493 | 1,920 | 2,067 | 2,392 |
| Expenses | 1,794 | 932 | 1,470 | 1,782 | 1,998 | 2,156 |
| Operating Profit | -1,334 | 12 | 23 | 138 | 69 | 236 |
| OPM % | -290% | 1.2% | 1.5% | 7% | 3.3% | 10% |
| Other Income | 12 | 21 | -132 | 49 | 79 | 79 |
| Interest | 1 | 3 | 7 | 9 | 13 | 13 |
| Depreciation | 2 | 7 | 25 | 31 | 45 | 44 |
| PBT | -1,325 | 22 | -141 | 147 | 90 | 257 |
| Tax % | 1% | 36% | 7% | 25% | 19% | 22% |
| Net Profit | -1,332 | 14 | -151 | 111 | 73 | 200 |
| EPS in Rs | -13,06,098 | 15,262 | -10.47 | 3.45 | 2.24 | 6.15 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 49% |
Balance Sheet
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 136 | 324 | 325 | 325 |
| Reserves | -1,765 | -1,087 | -1,323 | 771 | 855 | 1,086 |
| Borrowings | 1,954 | 1,853 | 1,885 | 131 | 136 | 135 |
| Other Liabilities | 114 | 271 | 288 | 413 | 492 | 545 |
| Total Liabilities | 303 | 1,036 | 986 | 1,640 | 1,808 | 2,092 |
| Fixed Assets | 21 | 342 | 252 | 299 | 302 | 489 |
| CWIP | 0 | 2 | 0 | 0 | 0 | 0 |
| Investments | 164 | 339 | 260 | 292 | 305 | 272 |
| Other Assets | 117 | 354 | 474 | 1,049 | 1,201 | 1,331 |
| Total Assets | 303 | 1,036 | 986 | 1,640 | 1,808 | 2,092 |
Cash Flow
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Operating | 30 | 45 | -52 | 235 | 102 | 141 |
| Investing | -21 | -505 | 40 | -470 | -145 | -17 |
| Financing | -1 | 481 | -14 | 337 | -31 | -38 |
| Net Cash Flow | 8 | 21 | -26 | 102 | -74 | 86 |
| Free Cash Flow | 29 | 42 | -63 | 224 | 82 | 134 |
| CFO/OP | -3 | 470 | -172 | 194 | 142 | 85 |
Ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 27 | 28 | 32 | 30 | 23 | 30 |
| Inventory Days | 114 | 86 | 99 | 83 | 105 | 84 |
| Days Payable | 221 | 219 | 161 | 185 | 212 | 193 |
| Cash Conversion Cycle | -80 | -105 | -30 | -71 | -84 | -78 |
| Working Capital Days | -2 | -12 | 8 | -10 | -17 | 27 |
| ROCE % | — | 5% | 3% | 16% | 8% | 19% |
Documents
1
Cassation Court, Dubai, UAE Judgment In The Matter Of RSM General Trading LLC
8 Aug - Dubai Cassation Court upheld AED 1.707 million damages to RSM; company cites no financial impact. 8 Aug - Dubai Cassation Court upheld AED 1.707 million damages to RSM; company cites no financial impact.
2
Compliances-Reg.24(A)-Annual Secretarial Compliance
4 May - Honasa filed FY2025-26 secretarial compliance report; PCS found no non-compliances or deviations. 4 May - Honasa filed FY2025-26 secretarial compliance report; PCS found no non-compliances or deviations.
3
Board Meeting Intimation for Considering Financial Results And Recommendation Of Final Dividend
16h - Board meets May 21, 2026 to approve FY26 results and recommend final dividend. 16h - Board meets May 21, 2026 to approve FY26 results and recommend final dividend.
4
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
8h - ICRA monitoring report for quarter ended March 31, 2026 shows no deviation in IPO proceeds utilization. 8h - ICRA monitoring report for quarter ended March 31, 2026 shows no deviation in IPO proceeds utilization.
5
Announcement under Regulation 30 (LODR)-Change in Management
2d - Chief Business Officer Yatish Bhargava resigns, effective May 15, 2026. 2d - Chief Business Officer Yatish Bhargava resigns, effective May 15, 2026.
Frequently Asked Questions about Honasa Consumer Ltd
What does Honasa Consumer Ltd do?
Incorporated in 2016, Honasa Consumer Limited (HCL) provides beauty and personal care products through its digital platform.[1]
Where is Honasa Consumer Ltd (HONASA) listed?
Honasa Consumer Ltd is listed on the Indian stock exchanges. It is listed on NSE: HONASA and BSE: 544014. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Honasa Consumer Ltd belong to?
Honasa Consumer Ltd operates in the Consumer Goods sector within the Personal Care industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Honasa Consumer Ltd?
Honasa Consumer Ltd has a market capitalisation of approximately ₹15406.27 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Honasa Consumer Ltd?
The Price-to-Earnings (PE) ratio of Honasa Consumer Ltd is 77.66. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Honasa Consumer Ltd?
Over the past 52 weeks, Honasa Consumer Ltd has traded between a low of ₹248.4 and a high of ₹491.35. This range helps investors understand the stock's price volatility and recent trading levels.
Does Honasa Consumer Ltd pay dividends?
Yes, Honasa Consumer Ltd has a dividend yield of 0.64%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Honasa Consumer Ltd?
Honasa Consumer Ltd has a Return on Equity (ROE) of 6.16%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Honasa Consumer Ltd on Tapetide?
On Tapetide, you can view Honasa Consumer Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Incorporated in 2016, Honasa Consumer Limited (HCL) provides beauty and personal care products through its digital platform.[1]
Website honasa.in
CEO Mr. Varun Alagh
Employees 923
Listed 2023-11-07
Face Value ₹ 10
Issued Size 32,53,69,794