Honasa share price: Shares of Honasa Consumer, the parent company of Mamaearth, surged 10.5% to its 52-week high of ₹397.65 on BSE on Friday, 20 May, after the company reported blockbuster earnings for the March quarter and announced its maiden dividend payout.
The company posted a consolidated net profit of ₹69 crore for Q4FY26, registering a sharp 177% YoY increase from ₹25 crore reported in the corresponding quarter last year.
Honasa Consumer’s board also approved its first-ever final dividend and recommended a payout of ₹3 per equity share. The proposed dividend, subject to shareholder approval at the company’s annual general meeting, amounts to nearly 51.2% of FY26 standalone profit after tax (PAT).
The company said, “Q4FY26 witnessed the highest-ever quarterly revenue” on a year-on-year basis, while EBITDA (earnings before interest, tax, depreciation and amortisation) rose to an all-time high of ₹77 crore, reflecting growth of more than 185% YoY from ₹27 crore in the year-ago period.
Revenue from operations during the March quarter rose more than 23% YoY to ₹657 crore, compared with ₹533 crore in Q4FY25. EBITDA climbed 186% YoY to ₹77 crore, while EBITDA margin more than doubled to 11.7% during the quarter under review.
For the full financial year FY26, Honasa Consumer reported a net profit of ₹200.2 crore, up 176% from ₹72.7 crore recorded in the previous financial year.
The company’s full-year revenue stood at ₹2,391.9 crore, marking a growth of nearly 16% over ₹2,066.9 crore reported a year ago.
Honasa Stock Performance
The stock has risen 10% in 1 week, 12% in 1 month, 29% in 3 months and 41% in the last 1 year.
With the stock hitting a 52-week high today, it has now rallied 60% from its 52-week low of ₹248.55, hit in December 2025.
Management Commentary
Commenting on the performance, Varun Alagh, Chairman, CEO and Co-founder of Honasa Consumer, said, “FY26 was a year of strengthening the core and building a more resilient growth engine for the future. Over the last few quarters, we stayed sharply focused on the six pillars that defined our strategy for the year – improving execution across our Focus Categories, strengthening Product Superiority, scaling Hero Products, sharpening our content engine, rebuilding momentum in Offline Distribution, and unlocking Innovation Engines.”
Alagh said the company was now witnessing stronger traction across brands and sales channels. He added, “Our younger brands also maintained strong momentum, growing 40%+ during the year. In its first quarter of consolidation, Reginald Men crossed an ARR of INR 100 Cr+, doubling its revenue YoY.”
He further said that investments across AI-led content systems, research and development, product innovation and distribution infrastructure were beginning to translate into stronger execution capabilities across the organisation.
Should you buy?
JM Financial maintained a ‘Buy’ rating on Honasa Consumer with a target price of ₹420 after Q4FY26 profitability significantly beat estimates, despite revenue being only marginally ahead of expectations.
The brokerage said like-to-like sales growth stood at 28% YoY, while excluding Reginald, growth was estimated at 21%-22% YoY with UVG of 30%. Mamaearth posted mid-teen sales growth, while younger brands sustained momentum with 30%+ YoY growth.
“Management commentary remains positive – expects to sustain double-digit growth momentum for Mamaearth led by traction in focused categories led by hero SKUs and distribution expansion,” JM Financial said.
The brokerage noted that scale leverage and marketing efficiencies expanded like-to-like EBITDA margins to 11%+, against its estimate of 9.6%. It added that guidance for mid-to-high teen revenue growth and 100 basis points YoY EBITDA margin expansion remained unchanged.
JM Financial raised FY26-FY28 earnings estimates by 9%-12% following the strong quarter and the Reginald acquisition.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
