| Revenue growth | Net sales +36% YoY, highest growth since listing; volume-led. |
|---|---|
| Margins | EBITDA margin 12.7%; expansion from channel mix and operating leverage. |
| Demand visibility | Per capita beauty spend rising; women workforce and men's category tailwinds. |
| Management confidence | Upbeat, over-optimistic: 'highest growth since listing'; no guidance raised. |
Growth
Net sales +36% YoY, EBITDA roughly doubled to 12.7%; growth mainly volume-led, price hikes offset crude costs.
Outlook
Targets 15% EBITDA margin in next four years; near-term margin held around 12.5%.
Risks
Margin gains partly channel-mix driven; no guidance raised. Younger-brand growth excludes Dermaco, which is a large contributor.
Last quarter's promises, checked
Delivered
- Guided ~100bps op leverage → 110-120bps unlocked (= BEAT)
- Guided high-teens CAGR, above-CAGR this year → Net sales +36% YoY (= BEAT)
- Guided focus categories 35%+ → 40%+ (= BEAT)
Partly delivered
- Guided 150-200bps margin expansion this year → 12.7% EBITDA margin; YoY bps not disclosed (= PARTIAL)
- Guided younger brands 40%+ (incl. Derma Co) → 40%+ ex-Dermaco; basis differs (= PARTIAL)
Earnings Call Transcript filed with NSE, NSE: HONASA. Summary written with AI assistance from the document.
Honasa Consumer Ltd: key numbers
- Share price
- ₹464.90
- Market cap
- ₹15,157 Cr
- Revenue (annual)
- ₹2,392 Cr
- Net profit (annual)
- ₹199.9 Cr
- P/E (TTM)
- 60.9×Sector 40.9×
- Promoter holding
- 35.47%+0.00% QoQ
- FII holding
- 14.91%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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- Key figure
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