Mamaearth
Mamaearth
Consumer GoodsKey Fundamentals
SmallcapPersonal CareConsumer GoodsTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Weaknesses
1- Stock is trading at 10.9 times its book value
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoHonasa Consumer Ltd (Mamaearth parent) trades at a market cap of ₹15,439 Cr with a PE of 62.1x and a price-to-book of 11.0x. The company has delivered TTM sales growth of 21% and TTM profit growth of 242%, while its last-year ROE stands at 16%. The stock has appreciated 58% over the past one year.
- TTM profit growth of 242% signals a sharp inflection in earnings, suggesting the company is scaling past its investment phase
- 5-year compounded sales CAGR of 39% reflects strong brand-building and distribution expansion in the personal care segment
- TTM revenue growth of 21% indicates continued top-line momentum even on a larger base
- Last-year ROE of 16% is respectable for a consumer goods company that was recently loss-making, showing improving capital efficiency
- 1-year stock CAGR of 58% reflects strong market confidence in the company's growth trajectory
- 3-year compounded profit CAGR of 118% demonstrates a sustained trend of margin expansion and operating leverage
- Dividend yield of 0.63% indicates the company has initiated shareholder returns, unusual for a young consumer brand and a sign of management confidence in cash flows
- PE ratio of 62.1x is significantly elevated relative to established FMCG peers that typically trade at 40-55x, leaving little room for execution misses
- Price-to-book of 11.0x means investors are paying a steep premium over the company's net asset value, amplifying downside risk if growth slows
- 3-year compounded sales CAGR of 17% is notably lower than the 5-year figure of 39%, indicating a deceleration in revenue growth as the base scales up
- Key financial ratios including debt-to-equity, ROCE, and multi-year ROE are unavailable, limiting visibility into the company's long-term financial health and capital structure
- 52-week high and low data are unavailable (reported as 0), making it difficult to assess where the stock trades relative to its recent range
- EPS data is not available, making it harder to independently verify earnings quality and per-share profitability trends
- At a market cap of ₹15,439 Cr with limited historical profitability track record, the valuation assumes sustained high growth that is yet to be proven over a full economic cycle
- The consumer goods sector in India is intensely competitive with established players like HUL, Dabur, and new D2C entrants, posing ongoing market share risk to a brand built primarily online
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- Fluence Pharma deal called off Aug 25
Honasa terminated its proposed 58% stake acquisition in Fluence Pharma (EV ₹135 crore) due to unfulfilled closing conditions, shelving its planned entry into the nutraceuticals market.
- Elevated valuation at 61x PE Sep 8
Stock trades at a P/E of 61.32, above 50 for four consecutive trailing quarters, leaving limited room for execution misses against high investor expectations.
- Record Q1 PAT surges 116% Sep 4
Q1FY27 consolidated PAT jumped 116.5% YoY to a record ₹90 crore, revenue grew 27% to ₹756 crore, and EBITDA surged 141% to ₹110 crore with margins expanding to 14.57% from 7.68%.
- ₹5,550 Cr revenue target by FY31 Sep 4
Founders outlined a five-year plan to double revenue to ₹5,550 crore by FY31 and expand EBITDA margins to 15%, aiming to be the fastest Indian FMCG company to reach ₹5,000 crore revenue.
- New CBO-Offline to scale distribution Sep 8
Nishchay Bahl elevated to CBO-Offline on Sep 8 to lead General Trade, Modern Trade and other channels, bringing 17+ years of FMCG experience from Reckitt and Britannia.
- Stock up 67% year-to-date Sep 8
Honasa shares closed at ₹476.05 on NSE with a market cap of ~₹15,493 crore, gaining over 67% YTD and ~58% over the past year.
- ₹3 per share final dividend Aug 21
Board recommended a final dividend of ₹3 per equity share for FY26, to be approved at the AGM scheduled for September 28, 2026.
- Jefferies & JPM investor meets Sep 11
Honasa management will attend the Jefferies India Forum on Sep 17 in Gurugram and J.P. Morgan India Conference on Sep 22 in Mumbai for one-on-one and group sessions.
- FY26 BRSR report filed Sep 3
Honasa submitted its Business Responsibility and Sustainability Report for FY26 to exchanges, detailing ESG metrics including turnover of ₹2,305.4 crore.
- AGM scheduled for Sep 28 Sep 3
Honasa's 10th Annual General Meeting set for September 28, 2026, with agenda including adoption of FY26 financials and the ₹3 per share dividend.
TL;DR: Honasa Consumer is firing on most cylinders — record Q1FY27 profits (PAT up 116%, EBITDA margins nearly doubling to 14.6%) and a clear five-year roadmap to ₹5,550 crore revenue validate the growth narrative. The Fluence Pharma deal cancellation removes a near-term nutraceuticals catalyst but also preserves capital discipline. Key risks are the stretched 61x PE valuation and execution demands of the ambitious FY31 targets. The trend is firmly improving on fundamentals, though the stock's 67% YTD rally means much of the good news may already be priced in.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 464 | 496 | 488 | 471 | 554 | 462 | 518 | 534 | 595 | 538 | 602 | 657 | 756 |
| Expenses | 435 | 456 | 454 | 438 | 508 | 493 | 491 | 507 | 549 | 490 | 536 | 580 | 646 |
| Operating Profit | 29 | 40 | 34 | 33 | 46 | -31 | 26 | 27 | 46 | 48 | 65 | 77 | 110 |
| OPM % | 6% | 8% | 7% | 7% | 8% | -7% | 5% | 5% | 8% | 9% | 11% | 12% | 15% |
| Other Income | 13 | 7 | 11 | 19 | 19 | 20 | 19 | 21 | 24 | 20 | 16 | 19 | 23 |
| Interest | 1 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Depreciation | 6 | 6 | 8 | 10 | 9 | 11 | 13 | 12 | 11 | 12 | 11 | 11 | 10 |
| PBT | 34 | 39 | 35 | 39 | 52 | -24 | 29 | 32 | 56 | 53 | 67 | 82 | 119 |
| Tax % | 27% | 25% | 25% | 22% | 23% | -24% | 12% | 22% | 26% | 26% | 25% | 15% | 24% |
| Net Profit | 25 | 29 | 26 | 30 | 40 | -19 | 26 | 25 | 41 | 39 | 50 | 69 | 90 |
| EPS in Rs | 1.9 | 2.16 | 0.8 | 0.94 | 1.24 | -0.57 | 0.8 | 0.77 | 1.27 | 1.21 | 1.54 | 2.13 | 2.77 |
Profit & Loss
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|
| Sales | 460 | 943 | 1,493 | 1,920 | 2,067 | 2,392 | 2,553 |
| Expenses | 1,794 | 932 | 1,470 | 1,782 | 1,998 | 2,156 | 2,252 |
| Operating Profit | -1,334 | 12 | 23 | 138 | 69 | 236 | 300 |
| OPM % | -290% | 1.2% | 1.5% | 7% | 3.3% | 10% | 12% |
| Other Income | 12 | 21 | -132 | 49 | 79 | 79 | 77 |
| Interest | 1 | 3 | 7 | 9 | 13 | 13 | 13 |
| Depreciation | 2 | 7 | 25 | 31 | 45 | 44 | 44 |
| PBT | -1,325 | 22 | -141 | 147 | 90 | 257 | 321 |
| Tax % | 1% | 36% | 7% | 25% | 19% | 22% | — |
| Net Profit | -1,332 | 14 | -151 | 111 | 73 | 200 | 249 |
| EPS in Rs | -13,06,098 | 15,262 | -10.47 | 3.45 | 2.24 | 6.15 | 7.65 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 49% | — |
Balance Sheet
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 136 | 324 | 325 | 325 |
| Reserves | -1,765 | -1,087 | -1,323 | 771 | 855 | 1,086 |
| Borrowings | 1,954 | 1,853 | 1,885 | 131 | 136 | 135 |
| Other Liabilities | 114 | 271 | 288 | 413 | 492 | 545 |
| Total Liabilities | 303 | 1,036 | 986 | 1,640 | 1,808 | 2,092 |
| Fixed Assets | 21 | 342 | 252 | 299 | 302 | 489 |
| CWIP | 0 | 2 | 0 | 0 | 0 | 0 |
| Investments | 164 | 339 | 260 | 292 | 305 | 272 |
| Other Assets | 117 | 354 | 474 | 1,049 | 1,201 | 1,331 |
| Total Assets | 303 | 1,036 | 986 | 1,640 | 1,808 | 2,092 |
Cash Flow
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Operating | 30 | 45 | -52 | 235 | 102 | 141 |
| Investing | -21 | -505 | 40 | -470 | -145 | -17 |
| Financing | -1 | 481 | -14 | 337 | -31 | -38 |
| Net Cash Flow | 8 | 21 | -26 | 102 | -74 | 86 |
| Free Cash Flow | 29 | 42 | -63 | 224 | 82 | 134 |
| CFO/OP | -3 | 470 | -172 | 194 | 142 | 85 |
Ratios
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor Days | 27 | 28 | 32 | 30 | 23 | 30 |
| Inventory Days | 114 | 86 | 99 | 83 | 105 | 84 |
| Days Payable | 221 | 219 | 161 | 185 | 212 | 193 |
| Cash Conversion Cycle | -80 | -105 | -30 | -71 | -84 | -78 |
| Working Capital Days | -2 | -12 | 8 | -10 | -17 | 27 |
| ROCE % | — | 5% | 3% | 16% | 8% | 19% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Mamaearth insights
69 extracted metrics + investor summaries across FY21–FY26.
Documents
Frequently Asked Questions about Mamaearth
What does Honasa Consumer Ltd do?
Where is Honasa Consumer Ltd (HONASA) listed?
Which sector does Honasa Consumer Ltd belong to?
What is the market capitalisation of Honasa Consumer Ltd?
What is the PE ratio of Honasa Consumer Ltd?
What is the 52-week high and low of Honasa Consumer Ltd?
Does Honasa Consumer Ltd pay dividends?
What is the Return on Equity (ROE) of Honasa Consumer Ltd?
Company Information
Incorporated in 2016, Honasa Consumer Limited (HCL) provides beauty and personal care products through its digital platform.[1]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/HONASA.md for Honasa Consumer Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.