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Honasa Consumer Results: Latest Quarterly Results & Analysis

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Honasa Consumer Ltd. 12 Nov 2025 16:48 PM
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Q2FY26 Quarterly Result Announced for Honasa Consumer Ltd.

Personal Products company Honasa Consumer announced Q2FY26 results

  • Q2 revenue from operations on a like-for-like (LFL) basis stood at Rs 566 crore, up 22.5% YoY and gross profit at 71.9%, underlining healthy top-line growth with improving margins.
  • Reflecting sustained improvement in operating performance, the company reported PAT of Rs 39 crore in Q2 with stable EBITDA at Rs 48 crore (8.4%).
  • UVG in Q2 remains strong at 16.7% showcasing the resilience and volume led growth of the core business.
  • Mamaearth’s growth is back in green. NielsenIQ data shows continued share gains for Mamaearth face cleansers ( 123 bps), while shampoos held steady; the Rice Facewash entered the Rs 100 crore ARR club after Ubtan and Vitamin C, reinforcing category depth.
  • Younger brands grew over 20% YoY in Q2, maintaining momentum across focus categories.

Varun Alagh, Chairman, CEO & Co-founder, Honasa Consumer, said: “Q2 marked another quarter of steady growth for Honasa, with revenue up 22.5% YoY and EBITDA holding stable at Rs 48 crore, reflecting the strength and consistency of our growth playbook. Our focus categories continued to contribute over 75% of total revenues and reaffirming the success of our category-first strategy, while deeper distribution and brand building enhanced consumer engagement across India.

This quarter brought strong category wins, with Mamaearth back in green, strengthening its leadership in face cleansers with a 123 bps share gain (NielsenIQ). The Derma Co. was recognized by Euromonitor (CY’24) as India’s No. 1 sunscreen brand, crossing Rs 750 crore ARR milestone. Innovation continued to be a key growth driver, as The Derma Co. enhanced its Vitamin C Serum for deeper penetration and Aqualogica introduced India’s first in-vivo tested Anti-Pollution Sunscreen.

As we look ahead, we’re expanding into new and fast-growing segments. With Luminéve, our first prestige skincare brand launched exclusively on Nykaa, we’ve entered the premium skincare space with a focus on night skincare and deep repair powered by global ingredient science. We’ve also invested in Fang, a prestige oral care brand focused on teeth whitening and everyday oral wellness, as we work towards shaping the future of oral beauty in India. Beyond business, we continue to create long-term impact through the Mamaearth Plant Goodness Initiative. We’ve planted over one million trees so far and are committed to reaching two million by 2030. Our focus remains on scaling Honasa as a House of Purposeful Brands, built on innovation and intent, shaping the future of beauty and personal care in India.”

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Personal Products company Honasa Consumer announced Q1FY26 results

  • Q1FY26 revenue stood at Rs 595 crore, growing 7.4% YoY, a steady start to the year.
  • The company delivered Rs 41 crore PAT and EBITDA of 7.7% in Q1FY26.
  • Gross profit margin improved to 71.2% in Q1FY26, up 48 bps YoY.

Varun Alagh, Chairman and CEO & Co-founder, Honasa Consumer, said: “Q1FY26 marked a strong start to the year, with Honasa delivering its highest-ever quarterly revenue of Rs 595 crore and a record quarterly profit of Rs 41 crore, supported by a sequential improvement in EBITDA margin to 7.7%. Our focus categories, which now contribute over 80% of revenues, posted double-digit growth YoY, reaffirming the strength of our category-first approach.

Building on the momentum, Mamaearth continues to show sequential improvement, with younger brands growing over 20% YoY The Derma Co. sustained strong momentum, with Face Cleansers becoming its third Rs 100 crore ARR category after Serums and Sunscreens.

Our innovation pipeline remains strong, with launches rooted in proven efficacy and consumer-desired benefits. Our offline distribution remains on a positive trajectory, further enhancing our reach and visibility. We are strengthening our playbooks by focusing on select, sharply defined category segments within our core categories, driving awareness-led brand building, and executing an ‘always-on’ media strategy."

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Personal Products company Honasa Consumer announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Q4FY25 revenue stood at Rs 534 crore, achieving double digit growth with 13.3% YoY, significantly ahead of the FMCG market.
  • The business continues to grow efficiently, delivering a Rs 25 crore PAT and EBITDA stood at 5.1% in Q4FY25, reflecting stronger operational performance.
  • Gross profit margin improved to 70.7% in Q4FY25, up 76 bps YoY, driven by an improved product mix and operational efficiencies
  • The direct distribution-led strategy is strengthening reach, with over 1 lakh unique outlets billed in FY25 and direct distributor contribution surging from 38% in FY24 to 71% in Q4FY25.

FY25 Financial Highlights:

  • Revenue from Operations stood at Rs 2,066 crore for FY25 compared to Rs 1,919 crore
  • PAT stood at Rs 72 crore for FY25 compared to Rs 110 crore for FY24

Varun Alagh, Chairman and CEO & Co-founder, Honasa Consumer said, “FY25 has been a year of learnings, focus, and disciplined execution. Despite its ups and downs, we’ve seen green shoots emerge, with the business delivering double-digit growth and strong momentum across our key brands. In Q4FY25, we achieved revenue of Rs 534 crore, growing 13.3% YoY—significantly ahead of the broader FMCG market. Mamaearth’s strategic pivot has begun to show results, with double-digit category growth across e-Commerce and Modern Trade, driven by building leadership in focus categories, optimized media mix modeling, and awareness-led brand building.

NielsenIQ data reaffirms this shift—Mamaearth has gained share across key categories, entered the Top 5 in face wash market share. Our newer brands have also maintained a strong trajectory, growing over 30% YoY in FY25. Notably, The Derma Co. has now crossed Rs 100 crore ARR from offline channels while continuing to lead across top online platforms.

As we scale, our vision remains clear—building Honasa into a future-ready house of brands through disruptive innovation, deeper offline penetration, and consumer-centric offerings. We’re not just creating brands that lead today, but shaping the future of India’s beauty and personal care landscape.”

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Personal Products company Honasa Consumer announced Q3FY25 results

  • Q3FY25 revenue stood at Rs 518 crore, reflecting 6.0% YoY growth, signaling growth momentum.
  • EBITDA margin for Q3FY25 stood at 5.0% and Profit After Tax (PAT) recorded at Rs 26 crore.
  • Mamaearth grew in market share and household penetration. The brand reached 2,16,814 FMCG retail outlets in India as of Dec’24, increasing distribution by 22% YoY, as per NielsenIQ.

Varun Alagh, Chairman & CEO & Co-founder, Honasa Consumer, said: “In Q3FY25, we remained committed to long-term growth, advancing the strategic implementation of Project Neev to strengthen our offline distribution through direct distributors in the top 50 cities. With continuous progress in this journey, our revenue for Q3FY25 stood at Rs 518 crore with 6.0% YoY growth and an EBITDA margin of 5.0%.

Mamaearth continued to expand its market share and household penetration as we refine our playbooks to shape its future growth trajectory. Our emerging brands - The Derma Co., Aqualogica, BBlunt, and Dr. Sheth’s - delivered 30% YTD YoY growth. Additionally, our key categories (face wash, shampoo, serums, moisturizer, sun care, and baby care) saw ~18% growth in 9MFY25. We are continuing to build in these categories and aim to gain significant share in the next 3-5 years.

As we scale, our vision remains centered on driving disruptive innovation, deepening offline penetration, and delivering unique value propositions to consumers. We are shaping Honasa to become a house of brands that will not only lead today but also define the future of India’s beauty and personal care landscape.”

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Personal Products company Honasa Consumer announced H1FY25 & Q2FY25 results

  • Revenue in Q2 stood at Rs 462 crore reflecting (6.9%) growth, while revenue adjusted for inventory correction was Rs 525 crore with the growth rate of 5.7% YoY.
  • EBITDA margin, reported for Q2FY25 was (6.6%), with EBITDA Margin adjusted for inventory correction at 4.1%. Profit after tax was Rs (19) crore for Q2FY25.
  • Revenue growth, adjusted for inventory correction, in H1FY25 stood at 12.3%, which is much faster than the competition, driving market share gains.
  • Younger brands like The Derma Co., Aqualogica, BBlunt, and Dr. Sheth’s achieved more than 30% YTD growth in both quarters of the year.
  • Focus categories – face washes, sunscreens and face serums – are growing at 28% (YoY growth in H1, adjusted for inventory correction) and continuously gaining market share. They currently drive nearly 50% of the business. Our ambition is to grow these categories and become either the market leaders or be in the top 3 nationally in the next 3-5 years.
  • Project Neev, targeted towards creating a future-ready General Trade distribution, has progressed well – with super-stockist layer removed from Top-50 cities, one-time inventory correction done, and robust DMS (Distributor Management System) implementation leading to real-time inventory visibility and fully automated claims process for distributors.
  • Retail offtake continues to be ahead of the competition. In offline, Mamaearth face washes as well as Mamaearth shampoos gained 125 bps of value market-share YoY as of Sep '24 (as per NielsenIQ).
  • Introduced a new range of moisturizers across Mamaearth, The Derma Co., Aqualogica, and Dr. Sheth’s, catering to diverse skin types and seasonal needs and reinforcing its strategy to meet varied consumer demands.

Varun Alagh, Chairman and CEO, Honasa Consumer, said: "Over the past few months, we've been implementing Project Neev to optimize our distribution model. In this quarter, we have taken strategic steps towards transitioning from super-stockists to direct distributors in top 50 cities. This transition has impacted our revenue and profits, leading to a slowdown for Mamaearth. However, this realignment will also strengthen offline go-to-market (GTM) strategy in the quarters ahead, setting the stage for our next phase of growth. For us, strengthening our offline GTM capabilities and bringing Mamaearth back on the strong growth trajectory are our top priorities.

Our House of Brands strategy continues to drive growth, with each of our emerging brands - The Derma Co., Aqualogica, BBlunt, and Dr. Sheth’s - achieving over 30% year-on-year growth in H1. In core categories like sunscreens, face washes, and serums, our growth in H1 is more than 28%. We are constantly learning and evolving to meet the changing needs of Indian consumers. Our long-term goals remain unwavering— to shape the future of the beauty and personal care category in India.”

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Personal Products company Honasa Consumer announced Q1FY25 results:

  • Consolidated revenue of Q1FY25 stood at Rs 554 crore, with a YOY growth of 19.3% and sequential growth of 17.3%
  • Product Business grew by 20.3% on the back of Underlying Volume Growth (UVG) of 25.2% in Q1FY25
  • EBIDTA margin expanding by 201 basis points (bps) y-o-y to 8.3%
  • PAT increased by 62.9% y-o-y; Q1FY25 PAT at Rs 40 crore
  • Honasa has captured a strong market share in the face wash category in online while steadily gaining ground offline, driven by its House of Brands strategy and innovation capabilities. The category achieved approximately Rs 800 crore GMV ARR for Honasa

Sharing his thoughts on the financial achievements and business performance in Q1FY25, Varun Alagh, Chairman and CEO, Honasa Consumer, comments, “Reflecting on the highlights of Q1 FY25, we are delighted to report that Honasa has demonstrated remarkable resilience and growth this quarter, underscored by a strong operating performance and improved profitability. Mamaearth continues to win consumer love, driving offtakes and securing a position as the fourth largest face wash brand in modern trade according to Nielsen. Honasa has also captured a strong market share in the face wash category in online while steadily gaining ground offline, driven by its House of Brands strategy and innovation capabilities. Our focus on a data-driven, consumer-centric strategy has led to a remarkable 9% contribution from new products to our revenue, while our partnerships, like with Dr. Vanita Rattan to launch ‘Skin Renew by Dr. V’ range in The Derma Co, are enhancing our premium positioning in the actives category. As we transition to a more direct distribution model, we are well-positioned to sustain and accelerate our growth trajectory. By leveraging our unique House of Brands strategy, purpose-driven approach, and strong emphasis on R&D and innovation, we are determined to solidify our leadership in the ever-evolving BPC FMCG segment.”

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Personal Products company Honasa Consumer announced Q4FY24 & FY24 results:

  • Q4FY24 consolidated revenue stood at Rs 471 crore
  • Q4FY24 sales grew by 21.5% YoY (23.3% like-for-like)
  • Q4FY24 consolidated EBITDA improved by by 780 bps at Rs 33 crore
  • Q4FY24 clocked highest ever PAT at Rs 30 crore for the quarter and Rs 111 crore for FY24
  • Delivered a strong FY24 performance with 28.6% YoY growth (31.6% like-for-like)
  • Business continues to be capital efficient, with a negative working capital cycle of minus 13 days.

Sharing his thoughts on the business performance in Q4FY24, Varun Alagh, Chairman and CEO, Honasa Consumer, comments, “As we reflect on quarter and year, we are extremely happy to share that despite industry headwinds, Honasa has demonstrated remarkable resilience and growth for the quarter and fiscal, with a robust LFL growth of 23.3% for the quarter and 31.6% annually. We have stayed committed to delivering growth, improving profitability, and incroreeasing our distribution network. Mamaearth's unwavering popularity among consumers has been a key driver of our continued success, while The Derma Co's is catching up and has recently achieved an ARR of Rs 500 crore highlighting our ability to croreaft and scale new-age beauty brands. Going forward, our focus remains on seizing untapped opportunities in the beauty landscape by tailoring brands and croreeating products that resonate with next-gen Indian consumers. Through our House of Brands approach, purpose-driven strategy, and placing emphasis on R&D and innovation, we aim solidify our position as frontrunners in the ever-changing BPC segment”.

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