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Honasa Consumer Limited
(HONASA)
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Rating:64Neutral
Price Target:
₹538.00
▲(11.13% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by improving fundamentals (strong revenue scale-up, restored profitability, and low leverage), reinforced by a favorable uptrend in technicals. The main offsets are valuation risk from a high P/E and operational volatility, including margin compression and uneven cash-flow consistency.
Positive Factors
Sustained Revenue Scale-Up
The substantial multi-year revenue increase indicates expanding brand adoption and distribution reach. Continued growth across recent periods supports the durability of Honasa’s multi-category beauty and personal care platform.
Negative Factors
Gross-Margin Compression
The sharp margin decline suggests pressure from product mix, pricing or input costs. If persistent, it could limit operating leverage and require higher marketing or promotional spending to preserve consumer demand and market share.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Scale-Up
The substantial multi-year revenue increase indicates expanding brand adoption and distribution reach. Continued growth across recent periods supports the durability of Honasa’s multi-category beauty and personal care platform.
Read all positive factors
Honasa Consumer Limited (HONASA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹154.89B
Dividend Yield0.64%
Average Volume (3M)103.44K
Price to Earnings (P/E)61.6
Beta (1Y)0.60
Revenue Growth21.08%
EPS Growth237.04%
CountryIN
Employees936
SectorGeneral
Sector StrengthN/A
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)4.05
Shares Outstanding326,024,230
10 Day Avg. Volume36,766
30 Day Avg. Volume103,443
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)6.87
Price to Sales (P/S)4.05
P/FCF Ratio56.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹530.00Price Target Upside9.48% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)8.66
Revenue Forecast (FY)₹29.25B
Honasa Consumer Limited Business Overview & Revenue Model
Company Description
Honasa Consumer Limited is an Indian enterprise primarily leveraging digital channels for its operations within the beauty and personal care sector. It provides a diverse array of products, encompassing baby care, facial treatments, body care esse...
How the Company Makes Money
Honasa Consumer Limited primarily makes money by selling branded beauty and personal care products across multiple categories (e.g., skin care, hair care, baby care and other personal care offerings) under its portfolio brands. Revenue is generate...
Honasa Consumer Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
68
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.84B | 23.92B | 20.67B | 19.20B | 14.93B | 9.43B |
| Gross Profit | 15.43B | 13.70B | 14.54B | 13.39B | 10.46B | 6.60B |
| EBITDA | 2.30B | 3.15B | 1.47B | 1.86B | -1.10B | 320.14M |
| Net Income | 1.32B | 2.00B | 726.87M | 1.12B | -1.43B | 157.15M |
Balance Sheet | ||||||
| Total Assets | 18.95B | 20.92B | 17.90B | 16.32B | 9.77B | 10.35B |
| Cash, Cash Equivalents and Short-Term Investments | 5.54B | 4.66B | 6.36B | 7.48B | 2.99B | 4.26B |
| Total Debt | 1.42B | 1.35B | 1.36B | 1.31B | 921.90M | 596.29M |
| Total Liabilities | 6.24B | 6.81B | 6.10B | 5.37B | 3.71B | 3.29B |
| Stockholders Equity | 12.71B | 14.12B | 11.80B | 10.95B | 6.06B | 7.06B |
Cash Flow | ||||||
| Free Cash Flow | -43.34M | 1.73B | 850.67M | 2.24B | -632.73M | 431.80M |
| Operating Cash Flow | 1.62M | 1.80B | 1.02B | 2.35B | -515.54M | 445.88M |
| Investing Cash Flow | 106.74M | -571.87M | -1.45B | -4.70B | 428.63M | -5.00B |
| Financing Cash Flow | -177.06M | -369.99M | -311.12M | 3.37B | -140.56M | 4.81B |
Honasa Consumer Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹163.03B | 21.21 | ― | 3.84% | 2.82% | -8.52% | |
74 Outperform | ₹1.04T | 55.01 | ― | 0.50% | 25.00% | 12.83% | |
69 Neutral | ₹4.55T | 30.27 | ― | 2.12% | 3.83% | 38.55% | |
65 Neutral | ₹669.67B | 33.81 | ― | 2.19% | 7.40% | 10.63% | |
64 Neutral | ₹154.89B | 61.59 | ― | 0.64% | 21.08% | 237.04% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹891.30B | 46.23 | ― | 2.30% | 9.22% | 3.19% |
* General Sector Average
IN:HONASA
Honasa Consumer Limited
470.95
173.21
58.17%
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Honasa Consumer Limited Corporate Events
Honasa Consumer Posts Q1 FY27 Results, Publishes Earnings Call Audio
Aug 13, 2026
Honasa Consumer Limited operates in the consumer goods sector, focusing on personal care and beauty products, including its flagship Mamaearth brand. The company targets digitally savvy, health-conscious consumers in India through omnichannel dist...
Honasa Wins Higher Arbitration Payout in RSMM Dispute
Jun 26, 2026
Honasa Consumer Limited has secured a favorable rectification order in its arbitration with RSMM General Trading LLC, with the tribunal correcting computational and clerical errors in an earlier award. The key change is an upward revision of loss-...
Honasa Consumer Publishes Audited FY26 Results, Strengthens Disclosure Compliance
May 22, 2026
Honasa Consumer Limited has announced that its Board of Directors has approved the audited standalone and consolidated financial results for the quarter and full financial year ended 31 March 2026. The results have been published in national and r...
Honasa Consumer Announces First Final Dividend, Strengthens Governance and Senior Leadership
May 21, 2026
Honasa Consumer’s board has approved audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, and recommended a maiden final dividend of ₹3 per share for FY 2025-26, pending shareholder approv...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.