Honasa Consumer (HONASA) — Financial Results

Investor Takeaways

Reported highest-ever quarterly revenue of INR 785 Cr, growing 31.8% YoY, with EBITDA doubling to INR 110 Cr and PAT reaching INR 90 Cr at 11.5% margin

Focus Categories expanded 35%+ YoY, with Mamaearth achieving high-teens growth and The Derma Co. crossing INR 1,000 Cr NSV ARR

BTM Ventures scaled to INR 150 Cr ARR, and offline channels added ~3 lakh retail outlets

Entered fragrance category with FIKN, its first elixir brand, reinforcing House of Brands strategy

Overall Tone: Positive

Key Financial Highlights

Metric	Value	YoY Change
Revenue	785	31.8%
Net Profit	90	N/A
EBITDA	110	100%
EPS	Not available
OPM	11.5%	N/A

What Changed

Honasa Consumer Limited delivered a transformative quarter with revenue surging 31.8% YoY to INR 785 Cr, driven by robust expansion across Focus Categories (35%+ growth) and strong performance in General Trade, Modern Trade, and eCommerce channels. EBITDA doubled to INR 110 Cr, reflecting improved operational efficiency, while PAT reached INR 90 Cr at a healthy 11.5% margin. The Derma Co. achieved a milestone by crossing INR 1,000 Cr NSV ARR, and BTM Ventures scaled to INR 150 Cr ARR, underscoring the scalability of newer brands. Offline distribution expanded significantly with ~3 lakh retail outlets added, enhancing market penetration. The company also entered the fragrance category with FIKN, its first elixir brand, as part of its House of Brands strategy. This performance marks a clear inflection point, transitioning from loss-making periods in Q2FY25 to consistent profitability and scalable growth across multiple brands and channels.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Honasa Consumer Limited (HONASA)	145.08	Not available	Not available	11,518.09
Hindustan Unilever Limited (HINDUNILVR)	36.79	29.38%	27.39%	5,33,874.13
ITC Limited (ITC)	11.06	50.02%	38.91%	3,87,724.39
Nestle India Limited (NESTLEIND)	84.59	81.33%	93.64%	2,75,845.36

Honasa trades at a significant premium to peers on P/E basis, reflecting growth expectations, though its ROE and ROCE metrics are not yet comparable due to limited disclosure in the provided data.

Risks & Concerns

No specific risks identified in this filing

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	517.51	26.02	5.05
Q2FY25	461.82	-18.58	-6.65
Q1FY25	554.06	40.26	8.32
Q4FY24	471.09	30.47	7.03

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About Honasa Consumer Limited (HONASA)

Services · Trading · Listed on NSE

Market Cap: ₹15,676.87 Cr P/E: 62.9 ROE: 21.1% ROCE: 28.3% Div Yield: 0.62%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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