Honasa Consumer Limited — Investor Meet, 20-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Honasa Consumer (Mamaearth) delivered its highest-ever quarterly revenue & PAT in Q1 FY26. Revenue grew 7.5% YoY, 11.6% QoQ, with volume-led growth (UVG 10.5%). EBITDA margin improved to 7.7%. Management highlighted focus categories (80% revenue) growing double-digits. Mamaearth's turnaround is showing green shoots, with focus categories now double-digit in online/modern trade. Young brands grew 20%+, with The Derma Co set to become the next INR1,000 Cr brand. Company aims for double-digit value growth & ~7% EBITDA margin for FY26, targeting 100-150 bps annual margin expansion for 5-6 years. Strong focus on distribution and innovation. Confident outlook.