Honasa Consumer Q2 FY27: PAT ₹90 & Rev ₹110 Cr

Investor Takeaways

32% YoY revenue growth reported with INR110 crores EBITDA and INR90 crores net profit

300-350 basis point EBITDA margin improvement year-on-year

30.5% volume growth and category leadership evidenced by highest brand searches and Kantar scores

New and acquired brands added INR1,150 crores ARR, with fragrance penetration at 3% in India and 11% globally

Targeting 15% long-term EBITDA margins through 100-150 basis point annual improvements

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹110 Cr	32%
Net Profit	₹90 Cr	N/A
EBITDA	₹110 Cr	N/A
EPS	N/A	N/A
OPM	N/A	N/A

What Changed

Honasa Consumer Limited reported Q1 FY27 revenue of ₹110 crores, reflecting 32% year-on-year growth driven by 30.5% volume expansion and strong brand momentum. EBITDA reached ₹110 crores with net profit at ₹90 crores, supported by 300-350 basis point improvement in EBITDA margin. The company highlighted category leadership through ever-highest brand searches and Kantar scores, with new and acquired brands contributing INR1,150 crores in annual recurring revenue (ARR). Fragrance penetration in India reached 3% with global reach at 11%. Management emphasized reinvestment over short-term profitability, targeting 15% long-term EBITDA margins through 100-150 basis point annual improvements. Growth is being driven organically across e-commerce (20%+ growth), modern trade (40%+ growth), and scaling of younger brands to INR500+ crore ARR. Seasonal softness is anticipated in Q2, but full-year guidance remains unchanged with margin expansion prioritized.

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 ratio, reflecting growth expectations, though its ROE and ROCE metrics are not currently available for direct comparison.

Risks & Concerns

No specific risks identified in the filing; seasonal softness in Q2 is noted as a temporary expectation, not a structural concern.

High P/E ratio of 145.08 may indicate elevated valuation sensitivity to growth execution.

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

The company’s Q1 FY27 revenue of ₹110 crores shows sequential improvement from Q4FY24’s ₹471.09 crores, though the quarterly trend reflects a shift to a newer reporting basis (likely year-on-year comparison within FY27). The current filing presents Q1 FY27 as a standalone performance update rather than part of a sequential quarterly series.

Analysis strictly based on provided data. No external assumptions or estimates used.

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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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