Honasa Consumer Ltd.
HONASAFast Moving Consumer Goods filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
12 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 12 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20231128 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240214 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240528 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240812 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241120 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250219 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250528 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250820 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251118 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260218 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260528 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260819 | 2026-06-30 | yes |
HONASA
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 472.95 |
| 52-week range | 256.3 – 502.8 |
| Return 1M | -2.58% |
| Return 3M | 13.23% |
| Return 1Y | 57.54% |
| Return 3Y | not reported for this period |
| Return 5Y | not reported for this period |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 756.00 |
| Other income | 23.00 |
| Total income | 778.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 240.00 |
| Changes in inventories | -11.00 |
| Employee benefit expense | 66.00 |
| Finance costs | 3.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.35 | -0.00 |
| institutions foreign | 0.14 | -0.00 |
| institutions domestic | 0.22 | 0.02 |
| mutual funds | 0.06 | 0.03 |
| public | 0.65 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 12 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 496.00 | 488.00 | 471.00 | 554.00 | 462.00 | 518.00 | 534.00 | 595.00 | 538.00 | 602.00 | 657.00 | 756.00 |
| Other income | 7.00 | 11.00 | 19.00 | 19.00 | 20.00 | 19.00 | 21.00 | 24.00 | 20.00 | 21.00 | 19.00 | 23.00 |
| Total income | 503.00 | 499.00 | 490.00 | 573.00 | 482.00 | 537.00 | 554.00 | 619.00 | 558.00 | 622.00 | 676.00 | 778.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 145.00 | 137.00 | 150.00 | 184.00 | 189.00 | 148.00 | 135.00 | 171.00 | 158.00 | 164.00 | 222.00 | 240.00 |
| Changes in inventories | 6.00 | 16.00 | -8.00 | -27.00 | -45.00 | 7.00 | 21.00 | 1.00 | 1.00 | 26.00 | -27.00 | -11.00 |
| Employee benefit expense | 37.00 | 44.00 | 45.00 | 49.00 | 51.00 | 52.00 | 48.00 | 60.00 | 60.00 | 71.00 | 71.00 | 66.00 |
| Finance costs | 2.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 |
| Depreciation and amortisation | 6.00 | 8.00 | 10.00 | 9.00 | 11.00 | 13.00 | 12.00 | 11.00 | 12.00 | 11.00 | 11.00 | 10.00 |
| Other expenses | 267.00 | 256.00 | 252.00 | 302.00 | 297.00 | 284.00 | 303.00 | 318.00 | 272.00 | 276.00 | 314.00 | 350.00 |
| Total expenses | 464.00 | 464.00 | 451.00 | 520.00 | 506.00 | 507.00 | 522.00 | 564.00 | 505.00 | 550.00 | 594.00 | 659.00 |
| Profit before exceptional items and tax | 39.00 | 35.00 | 39.00 | 52.00 | -24.00 | 29.00 | 32.00 | 56.00 | 53.00 | 72.00 | 82.00 | 119.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -5.00 | 0.00 | 0.00 |
| Profit before tax | 39.00 | 35.00 | 39.00 | 52.00 | -24.00 | 29.00 | 32.00 | 56.00 | 53.00 | 67.00 | 82.00 | 119.00 |
| Current tax | 10.00 | 8.00 | 10.00 | 14.00 | -3.00 | 10.00 | 7.00 | 9.00 | 15.00 | 14.00 | 22.00 | 29.00 |
| Deferred tax | -1.00 | 1.00 | -1.00 | -2.00 | -3.00 | -7.00 | 0.00 | 6.00 | -2.00 | 3.00 | -10.00 | 0.00 |
| Tax expense | 10.00 | 9.00 | 9.00 | 12.00 | -6.00 | 3.00 | 7.00 | 14.00 | 14.00 | 17.00 | 12.00 | 29.00 |
| Profit for the period | 29.00 | 26.00 | 30.00 | 40.00 | -19.00 | 26.00 | 25.00 | 41.00 | 39.00 | 50.00 | 69.00 | 90.00 |
| Profit attributable to owners | 29.00 | 26.00 | 30.00 | 40.00 | — | 26.00 | 25.00 | 41.00 | 39.00 | 50.00 | 69.00 | 90.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | 0.00 | 0.00 | -0.00 | -0.00 | -0.00 | 0.00 | 0.00 | 1.00 | 0.00 | 2.00 | 0.00 | -0.00 |
| Total comprehensive income | 30.00 | 26.00 | 30.00 | 40.00 | -19.00 | 26.00 | 25.00 | 42.00 | 40.00 | 53.00 | 70.00 | 90.00 |
| Earnings per share, basic | 0.96 | 0.82 | 0.97 | 1.24 | -0.57 | 0.80 | 0.77 | 1.27 | 1.21 | 1.54 | 2.13 | 2.77 |
| Earnings per share, diluted | 0.93 | 0.81 | 0.97 | 1.24 | -0.57 | 0.80 | 0.77 | 1.26 | 1.20 | 1.54 | 2.12 | 2.76 |
Annual results, as filed
| Line | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|
| Revenue from operations | 1,920.00 | 2,067.00 | 2,392.00 |
| Other income | 50.00 | 79.00 | 84.00 |
| Total income | 1,970.00 | 2,146.00 | 2,476.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 594.00 | 656.00 | 715.00 |
| Changes in inventories | -13.00 | -43.00 | -0.00 |
| Employee benefit expense | 171.00 | 200.00 | 263.00 |
| Finance costs | 9.00 | 13.00 | 13.00 |
| Depreciation and amortisation | 31.00 | 45.00 | 44.00 |
| Other expenses | 1,032.00 | 1,185.00 | 1,179.00 |
| Total expenses | 1,822.00 | 2,056.00 | 2,213.00 |
| Profit before exceptional items and tax | 147.00 | 90.00 | 262.00 |
| Exceptional items | 0.00 | 0.00 | -5.00 |
| Profit before tax | 147.00 | 90.00 | 257.00 |
| Current tax | 37.00 | 28.00 | 60.00 |
| Deferred tax | -0.00 | -11.00 | -3.00 |
| Tax expense | 37.00 | 17.00 | 57.00 |
| Profit for the period | 111.00 | 73.00 | 200.00 |
| Profit attributable to owners | 112.00 | 73.00 | 200.00 |
| Profit attributable to non-controlling interests | -1.00 | 0.00 | 0.00 |
| Other comprehensive income | 0.00 | -0.00 | 4.00 |
| Total comprehensive income | 111.00 | 73.00 | 204.00 |
| Earnings per share, basic | 3.57 | 2.24 | 6.15 |
| Earnings per share, diluted | 3.55 | 2.23 | 6.12 |
Balance sheet, as filed
| Line | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|
| Total assets | 1,113.00 | 1,632.00 | 1,725.00 | 1,790.00 | 1,895.00 | 2,092.00 |
| Non-current assets | 412.00 | 503.00 | 608.00 | 779.00 | 928.00 | 1,134.00 |
| Current assets | 701.00 | 1,129.00 | 1,117.00 | 1,012.00 | 967.00 | 959.00 |
| Property, plant and equipment | 132.00 | 144.00 | 152.00 | 147.00 | 25.00 | 136.00 |
| Capital work-in-progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
| Goodwill | 53.00 | 53.00 | 53.00 | 53.00 | 53.00 | 172.00 |
| Other intangible assets | 103.00 | 102.00 | 104.00 | 103.00 | 224.00 | 181.00 |
| Inventories | 132.00 | 123.00 | 180.00 | 158.00 | 157.00 | 165.00 |
| Trade receivables | 128.00 | 159.00 | 153.00 | 132.00 | 183.00 | 198.00 |
| Cash and cash equivalents | 16.00 | 107.00 | 11.00 | 33.00 | 26.00 | 119.00 |
| Total equity and liabilities | 1,113.00 | 1,632.00 | 1,725.00 | 1,790.00 | 1,895.00 | 2,092.00 |
| Equity | 668.00 | 1,095.00 | 1,125.00 | 1,180.00 | 1,271.00 | 1,412.00 |
| Equity share capital | 136.00 | 324.00 | 325.00 | 325.00 | 325.00 | 325.00 |
| Other equity | 532.00 | 771.00 | 800.00 | 855.00 | 946.00 | 1,086.00 |
| Total liabilities | 445.00 | 537.00 | 600.00 | 610.00 | 624.00 | 681.00 |
| Non-current liabilities | 111.00 | 123.00 | 122.00 | 121.00 | 121.00 | 112.00 |
| Current liabilities | 334.00 | 414.00 | 478.00 | 490.00 | 502.00 | 568.00 |
| Borrowings, non-current | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Borrowings, current | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Trade payables | 276.00 | 294.00 | 357.00 | 357.00 | 376.00 | 378.00 |
Cash flow, as filed
| Line | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|
| Net cash from operating activities | 94.00 | 235.00 | -21.00 | 102.00 | 0.00 | 141.00 |
| Net cash from investing activities | -67.00 | -470.00 | -63.00 | -145.00 | 11.00 | -17.00 |
| Net cash from financing activities | -16.00 | 337.00 | -12.00 | -31.00 | -18.00 | -38.00 |
| Purchase of property, plant and equipment | 5.00 | 0.00 | 9.00 | 17.00 | 4.00 | 7.00 |
| Net increase in cash | 12.00 | 102.00 | -96.00 | -74.00 | -7.00 | 86.00 |
| con:CFO.BEFORE_TAX | 106.00 | 268.00 | 1.00 | 97.00 | 23.00 | 202.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 13.00 | 32.00 | 23.00 | -5.00 | 23.00 | 60.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 192.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | -12.00 | 0.00 | 1.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-11-07 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 35.34 | 35.34 | 35.07 | 35.07 | 34.98 | 35.03 | 34.99 | 34.99 | 0.35 | 0.36 | 0.36 | 0.35 |
| Domestic institutions | 17.69 | 17.57 | 15.90 | 17.37 | 17.49 | 18.46 | 18.49 | 18.90 | 0.19 | 0.19 | 0.19 | 0.22 |
| Mutual funds | — | — | — | — | — | — | — | 2.39 | 0.03 | 0.03 | 0.03 | 0.06 |
| Insurance companies | 1.23 | 1.95 | 2.61 | 4.52 | 8.06 | 9.46 | 9.09 | 9.05 | 0.09 | 0.10 | 0.10 | 0.10 |
| Foreign institutions | 7.86 | 10.12 | 12.22 | 13.95 | 19.32 | 15.44 | 15.55 | 16.09 | 0.15 | 0.15 | 0.14 | 0.14 |
| Public | 64.66 | 64.66 | 64.93 | 64.93 | 65.02 | 64.97 | 65.01 | 65.01 | 0.65 | 0.64 | 0.64 | 0.65 |
| Non-institutional | 39.11 | 36.96 | 36.81 | 33.61 | 28.22 | 31.06 | 30.97 | 30.01 | 0.30 | 0.31 | 0.31 | 0.29 |
| Shares outstanding | 321746757 | 321746757 | 324244157 | 324244157 | 324824006 | 324824006 | 325183610 | 325183610 | 325369794 | 325369794 | 325369794 | 326024216 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Bhabani Blunt Hairdressing Private Limited | Subsidiary | Any other transaction, Investment, Sale of goods or | 77,430,000.00 | 3 |
| Bblunt Spratt Hairdressing Private Limited | Subsidiary | Any other transaction, Investment, Remuneration, Sal | 41,810,000.00 | 6 |
| Honasa Consumer General Trading L.L.C | Subsidiary | Any other transaction, Interest received, Investment | 34,340,000.00 | 6 |
| Varun Alagh | Key management personnel | Any other transaction, Remuneration | 31,200,000.00 | 2 |
| Raman Preet Sohi | Key management personnel | Remuneration | 30,620,000.00 | 2 |
| Ghazal Alagh | Key management personnel | Any other transaction, Remuneration | 12,010,000.00 | 2 |
| Spoorthy Shetty | Key management personnel | Remuneration | 5,580,000.00 | 1 |
| Dhanraj Dagar | Key management personnel | Remuneration | 2,720,000.00 | 2 |
| Subramaniam Somasundaram | Key management personnel | Remuneration | 1,500,000.00 | 1 |
| Vivek Gambhir | Key management personnel | Remuneration | 1,100,000.00 | 1 |
| Namita Gupta | Key management personnel | Remuneration | 1,100,000.00 | 1 |
| Just4Kids Services Private Limited | Subsidiary | Investment | 0.00 | 1 |
| Fusion Cosmeceutics Private Limited | Subsidiary | Any other transaction, Interest received, Investment | -67,490,000.00 | 5 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-19 | Q1FY27 | Read the call | |
| 2026-05-28 | Q4FY26 | SECURITIES LIMITED | Read the call |
| 2026-02-18 | Q3FY26 | SECURITIES LIMITED | Read the call |
| 2025-11-18 | Q2FY26 | Read the call | |
| 2025-08-20 | Q1FY26 | Read the call | |
| 2025-05-28 | Q4FY25 | SECURITIES | Read the call |
| 2025-02-19 | Q3FY25 | INSTITUTIONAL SECURITIES LIMITED | Read the call |
| 2024-11-20 | Q2FY25 | SECURITIES | Read the call |
| 2024-08-12 | Q1FY25 | Read the call | |
| 2024-05-28 | Q4FY24 | Read the call | |
| 2024-02-14 | Q3FY24 | SECURITIES LIMITED | Read the call |
| 2023-11-28 | Q2FY24 | SECURITIES LIMITED | Read the call |
What they said about it, quarter by quarter
| Topic | Q2FY25 | Q2FY26 | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capital allocation | — | It's largely been acquisition with strategy and we have demonstrated how we can actually craft and scale our own brands as well, which in the long ter… | — | Firstly, I would like to congratulate the Minimalist founders for building a great brand that got a very good outcome with the acquisition. | — | And if I may a couple of more, one is on the acquisition R&D capability Cosmogenesis, can you just elaborate you mentioned, but the comments for a bit… | Any changes to the customer acquisition cost which you have to make in the last 12 months, again, on a like-for-like basis? | — |
| Costs | — | When cost rise, whether it's in marketing, distribution or raw materials, how do you make sure the margins stay steady without the growth hampering? | — | — | — | — | — | — |
| Debt and cash | — | — | We have continued to be a negative working capital cycle company with minus six days of working capital. | — | — | — | Varun, how are you all thinking at the Board level about dividends as a policy and how to balance because you guys are generating decent amount of cas… | — |
| Demand | Yes, that is probably an area where the pace of growth is lower, but sustainable growth from a long-term perspective, we still believe there is a long… | How are you shaping the innovation pipeline to stay ahead of your competitors? | And this time, the winter portfolio itself also wasn't as exciting in terms of the winter demand. | And how is the growth rate compared to the previous quarter whether, where other FMCG companies been reporting there has been very muted demand in the… | — | For example, when I think about, let's say, demand forecasting, you are starting on a fresh slate, and you have done and executed largely, I would say… | This is supposed to be a pipeline for all of our brands in the future. | — |
| Guidance | Can we expect the normal growth path to return from 3Q onwards? | And second was on the margin side that, given that first half has been better than expectations, are you looking to increase the guidance from the 7% … | — | Like you said that next quarter, we expect some aggressive marketing spend. | And I think this is in line with our gross margin guidance that we will continue to sort of look at 70% and 70% plus range. | There is slight improvement, which we expect in gross margins as well, because given younger brands are growing faster, younger brands have actually g… | I wouldn't say guidance, but what is it that you're thinking right now for FY'26? | And how are we expecting this to impact growth in margins going forward? |
| Margin | Is there any rethink on your margin admissions of reaching double-digit? | Firstly, if you see our gross margin profile, like Varun mentioned, I think we're now averaging 71% plus gross margin consistently. | Our operating performance also continues to be robust, and we've delivered an EBITDA of 7.1%, which is almost 400 basis points up year-on-year. | And lastly on the margin side, obviously, one of the strategies is also to increase spends obviously, and increase more focused spends on Mamaearth an… | We are very confident that this trend of delivering strong growth and continuing to improve on our margin profile year-on-year is something that will … | And what are the Honasa Consumer Limited May 23, 2024 likely benefits, like what kind of margin it can be over the long term period, let's say from tw… | Even in terms of EBITDA, of course, compared to last year, of course, we will see significant improvement by about 250 basis points over last year in … | And we have seen that unlocking value for us and EBITDA for us last year as well. |
| People | — | — | — | And wanted to gauge your comment, like, if the growth remains slow, do you see any risk of attrition here? | — | — | — | — |
| Pricing | — | — | Do you get any differential pricing from e-commerce? | — | That brand premium is visible in the PTML of our pricing in the market. | — | — | My -- so first question is around like how are you placed with the inflation and thoughts around price hikes? |
| Revenue growth | — | — | Overall, as a company, we have continued our growth momentum with a 28% year-on-year revenue growth. | In fact, we have talked about that in our presentation as well, that the younger brands continue to grow at 30% plus Honasa Consumer Limited February … | So we are feeling quite confident that our flywheel and our fundamentals have started to clearly deliver in terms of strong outcomes for the company, … | And the last one, Varun, is this direct distribution changeover, you have quantified its impact on top line. | I just wanted to understand the Mamaearth growth on a primary basis, has it turned the corner and come to a positive Y-o-Y growth because last couple … | — |