Honasa Consumer / Q3-FY26

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Positive2026-02-10Back to HONASA

Revenue

₹602 Cr

verified against source

Revenue YoY

21.7%

reported change

EBITDA

Pending

latest reported figure

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Actual signal trajectory

Where this quarter sits.

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Revenue (₹ Cr)PositiveWatchNegative
2 actual records
Actual quarterly Revenue (₹ Cr) trajectoryReported values plotted by quarter. Hover or focus a point for its quarter, value, and source sentiment.Q2 FY26: 538 · Positive source sentiment · 2025-11-15Q2 FY26Q3 FY26: 602 · Positive source sentiment · 2026-02-10Q3 FY26602538
Values are taken from the available verified source records; sentiment color is a separate source-read indicator.

Quarter read

What the record says.

Honasa delivered its highest-ever quarterly revenue of ₹662 crore, growing 21.7% YoY, driven by 30% UBG growth and strong performance across all channels. EBITDA margin improved to 10.9%, with PAT nearly doubling. The core brand Mamaearth returned to double-digit growth, while young brands (Dermaco, Aqualogica, etc.) grew 25%+. Management expressed confidence in sustaining this trajectory, targeting 100bps annual margin expansion. The acquisition of Reginald Men strengthens presence in men's skincare and South India. Key risk: increased competitive intensity from legacy FMCG players and D2C brands in online channels.

Colored figures show movement against the previous available record.

Guidance to track

  • Management targets improving EBITDA margin by 100 basis points every year, driven by operating leverage and efficiency gains.
  • Mamaearth is expected to continue its double-digit growth trajectory, supported by distribution gains and brand strength.
  • Focus categories are expected to contribute 85-87% of total revenue over the next three years, up from current 75%.

Risks flagged

  • Legacy FMCG companies are focusing on online channels and D2C brands are scaling, potentially pressuring growth and margins.
  • A ₹28 crore revenue recognition impact due to Flipkart group changes, though management says it doesn't affect bottom line.
  • Employee costs rose sharply due to ESOP provisioning and higher variable pay, which may pressure margins if sustained.

Key quotes

  • We have delivered our highest ever quarterly revenue in the company has grown by 21.7% in terms of revenue growth and this is also led by volume our UBG is at 30% growth.
  • Every year our goal will be to improve the margin profile by 100 basis points.
  • Reginald Men can itself be a 500 cr brand in the next four to five years.

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