Honasa Consumer LimitedConsumer GoodsHONASA
Q1 FY27 concall · earnings callHonasa Consumer Limited
Honasa delivered 32% revenue growth driven by volume growth, focus categories, and strong performance across both core and younger brands while expanding EBITDA margins and launching a new fragrance brand.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue Growth | 32% | +30.5% volume growth | |
| EBITDA | ₹110 Cr | Almost ₹110 Cr | |
| PAT | ₹90 Cr | ₹90 Cr | |
| Cash Generated | ₹83 Cr | Almost ₹83 Cr | |
| Mamaearth Growth | High teens | High teens growth | |
| Young Brands Growth | 40% plus | 40% plus | |
| Focus Categories Growth | 35%+ | 35%+ |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹517.51 Cr+6% YoY+12.1% QoQ | ₹26.02 Cr+0.5% YoYTurned profitable QoQ | ₹0.80-2.4% YoYTurned positive QoQ |
| Q2 FY25 | ₹461.82 Cr-6.9% YoY-16.6% QoQ | ₹-18.58 CrTurned loss-making YoYTurned loss-making QoQ | ₹-0.57Turned negative YoYTurned negative QoQ |
| Q1 FY25 | ₹554.06 Cr— YoY+17.6% QoQ | ₹40.26 Cr— YoY+32.1% QoQ | ₹1.24— YoY+27.8% QoQ |
| Q4 FY24 | ₹471.09 Cr— YoY-3.5% QoQ | ₹30.47 Cr— YoY+17.6% QoQ | ₹0.97— YoY+18.3% QoQ |
| Q3 FY24 | ₹488.21 Cr— YoY-1.6% QoQ | ₹25.90 Cr— YoY-12% QoQ | ₹0.82— YoY-14.6% QoQ |
What changed
Growth accelerated, The Derma Co. crossed INR1,000 crores ARR, and a new fragrance brand FIKN was launched.
TL;DR
- Revenue grew 32% with 30.5% volume growth.
- EBITDA was almost INR110 crores and PAT INR90 crores.
- Generated almost INR83 crores of cash this quarter.
- Mamaearth accelerated to high teens growth.
- The Derma Co. became the second INR1,000 crores ARR brand.
- Young brands grew 40% plus.
Said on the call
“We are glad to announce that this has been a great quarter for the organization.”
From the Q&A
| Topic | What management said |
|---|---|
| Growth Trajectory | Management expects this year's growth to be better than the five-year high-teens CAGR target, and Mamaearth growth will also be better than its planned double-digit CAGR. |
| Quick Commerce Share Gains | Gains are tracked at category level via platform data and are attributed to strong brand strength and consumer searches. |
| Scaling Younger Brands | Playbook involves finding a differentiated proposition in a category and doubling down; actions like repackaging Aqualogica for GenZs are underway. |
| Margin Guidance & Investment | The five-year plan to reach 15% EBITDA margin (100-150 bps expansion per year) already assumes reinvestment for growth in new categories and brands. |
| Distribution Health | Management is extremely confident, citing tracking of distributor inventories, collections at highest levels, and inventory less than 30 days. |
| The Derma Co. Offline Scale-up | The brand is about a year into offline, present in close to 50,000 GT outlets, with an 80% online, 20% offline contribution split. |
| Cost Inflation | Packaging cost inflation seen in Q1 due to crude prices, but impact was mitigated by inventory management and price increases; real impact expected in Q2 but to be offset. |
| Product Pipeline | Mamaearth's Rice franchise and Rosemary shampoo have significant headroom; newer candidates like moisturizers, Vitamin C sunscreen, and Tea Tree Face Wash are being built. |
Guidance
- Five-year goal is to reach 15% EBITDA margin, expanding by 100-150 basis points each year.
- This year's growth is expected to be better than the five-year high-teens CAGR target.
- Mamaearth is expected to deliver a double-digit CAGR over five years, with this year better than the planned CAGR.
- Focus remains on growth first; reinvestment will be prioritized to sustain growth.
Source
Summary written from the transcript filed by Honasa Consumer Limited for the call held on 13 Aug 2026; published 20 Aug 2026, 09:55 IST.
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