Increased competitive intensity from legacy FMCG and D2C brands
Legacy FMCG companies are focusing on online channels and D2C brands are scaling, potentially pressuring growth and margins.
HONASA / Q3-FY26 / risks
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Honasa Consumer · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Revenue recognition impact from Flipkart group change
A ₹28 crore revenue recognition impact due to Flipkart group changes, though management says it doesn't affect bottom line.
ESOP provisioning and variable cost increases
Employee costs rose sharply due to ESOP provisioning and higher variable pay, which may pressure margins if sustained.