Honasa Consumer Ltd.Revenue +32%, EBITDA ~₹110 Cr, PAT ₹90 Cr

Honasa Consumer, the owner of Mamaearth, reported Q1 FY27 revenue growth of 32%, driven by 30.5% volume growth, with EBITDA of almost ₹110 Cr and profit after tax of ₹90 Cr, and generated about ₹83 Cr of cash while staying working-capital negative.

EBITDA margin rose by about 300 to 350 bps from mix, about 100 bps from operating leverage and about 50 bps from seasonality, plus a one-time opex benefit; excluding it, margin was about 12%. Focus categories grew over 35% and are 85% of sales, Mamaearth grew in the high teens, young brands grew over 40%, and The Derma Co became the second ₹1,000 Cr brand. General trade secondary sales and modern trade offtakes grew over 40%.

Management launched a fragrance brand, FIKN, formed Honasa Health for nutrition, and expects FY27 growth above its high-teens five-year goal, with margin expanding 100 to 150 bps a year towards 15%. It took calibrated price increases at the end of Q1 to offset crude and packaging inflation.