Honasa Consumer
Honasa Consumer Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Mamaearth is back to growth with an objective of high single-digit growth in the next quarter and aims to reach double-digit growth by Q4, maintaining this into next year. Honasa Consumer expects to maintain or improve EBITDA margin around the current 7-8% range with a target to unlock 50 to 100 basis points of operating margin annually through procurement efficiencies, marketing efficiency, and product mix improvements.
From Honasa Consumer's Q2 FY26 earnings-call transcript · updated 26 Aug 2026.
Revenue & Sales Performance
- Mamaearth is back to growth with an objective of high single-digit growth in the next quarter and aims to reach double-digit growth by Q4, maintaining this into next year.
- Core categories' contribution expected to rise from 75% to around 84-85% over the next 4-6 quarters, driving strong share ownership.
- Derma Co has strong growth potential with plans to build moisturizer and shampoo categories, targeting INR1,000+ crores in 1-2 years.
- Quick commerce channel is rapidly growing, currently about 10% of revenues, with healthy economics and fastest-growing channel.
- Total secondary sales growing well with 35% Y-o-Y increase in direct outlet billings; brand availability expanded to over 250,000 retail outlets.
- Focus on offline expansion for brands like Derma Co, now INR100+ crores in offline run rate.
- New brands like Lumineve in build phase targeting large long-term opportunity.
- Overall, sustained growth backed by focus on core categories, offline distribution, and channel expansion.
Profitability & Margins
See what Honasa Consumer said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Honasa Consumer is actively investing in building new brands, focusing on mega brand creation opportunities in India driven by a new generation of consumers.
- They have a dedicated function called the "brand factory" to cultivate and scale new brands, with openness to participation or M&A when internal bandwidth is insufficient.
- An investment was made in Fang, an early-stage oral care brand where Honasa holds a 25% stake, with options to increase stake in the future based on performance.
- The company emphasizes capital-efficient growth by building own brands rather than only acquiring.
- No explicit mention of large-scale current or future capex; focus seems more on strategic brand investments and supply chain improvements.
- Transitioning distribution from super-stockists to direct distributors is an ongoing strategic investment to improve GT reach.
Top-ranked in Personal Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Honasa Consumer said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
Honasa Consumer — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹608 Cr, net profit ₹64 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Honasa Consumer's management said in earlier quarters
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Frequently Asked Questions
What were Honasa Consumer Q2 FY26 results?
Mamaearth is back to growth with an objective of high single-digit growth in the next quarter and aims to reach double-digit growth by Q4, maintaining this into next year. Honasa Consumer expects to maintain or improve EBITDA margin around the current 7-8% range with a target to unlock 50 to 100 basis points of operating margin annually through procurement efficiencies, marketing efficiency, and product mix improvements.
What is Honasa Consumer share price analysis?
Honasa Consumer currently shows a neutral. The stock trades at a P/E of 62.2 with a market cap of ₹15,711 Cr. Investors should review the full earnings analysis for detailed insights.
Is Honasa Consumer planning capital expenditure?
Honasa Consumer is actively investing in building new brands, focusing on mega brand creation opportunities in India driven by a new generation of consumers.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.