Honasa Consumer Q1 profit surged 119%, while revenue reached a record ₹755.9 crore.
EBITDA more than doubled as margins expanded, driven by strong category growth.
Jefferies and Emkay remained bullish, while CLSA stayed cautious on valuations.
Shares of Honasa Consumer climbed more than 3% in morning trade on Friday after the company reported a strong set of June-quarter earnings, with net profit more than doubling and operating margins expanding sharply.
The stock rose as much as 3.42% to ₹495.85 on the NSE.
1 August 2026
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Mamaearth's parent reported a consolidated net profit of ₹90.4 crore for Q1 FY27, up 119% from ₹41.3 crore a year earlier and higher than ₹69.4 crore in the previous quarter. Revenue from operations increased 27% year-on-year to ₹755.9 crore, compared with ₹595.3 crore in the corresponding quarter last year.
Chairman, CEO and Co-founder Varun Alagh said the company delivered its highest-ever quarterly revenue and profit, with EBITDA more than doubling to ₹110 crore, driven by growth across both established and emerging brands.
EBITDA margin expanded to 14.1%, while the profit-after-tax margin stood at 11.5%. The company said its focus categories grew more than 35% during the quarter, supported by strong performance across key sales channels.
Brokerages Remain Divided
Brokerages largely acknowledged the strong quarterly performance, although their views on the stock remained mixed.
Jefferies retained its 'Buy' rating and said Honasa continues to deliver on both revenue growth and margin expansion. The brokerage expects offline expansion, increasing contribution from focus categories and growth in newer wellness and fragrance businesses to support the company's long-term growth strategy.
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Emkay Global also maintained a 'Buy' rating and raised its target price to ₹550 from ₹500 after the earnings beat. It said revenue growth exceeded consensus expectations, while EBITDA more than doubled as operating leverage and a favourable product mix supported margins.
The brokerage added that Honasa had expanded its retail presence to around 3 lakh outlets as of June 2026 and highlighted the company's recent entry into the fragrance segment with the launch of the FIKN brand.
CLSA, however, maintained a 'Hold' rating with a target price of ₹505. It noted that operating margins were stronger than expected and raised its FY27-FY29 earnings estimates, but remained cautious on valuations.
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Honasa Consumer shares have gained nearly 75% so far this year and are up more than 80% since March.
