Honasa Consumer Ltd
Incorporated in 2016, Honasa Consumer Limited (HCL) provides beauty and personal care products through its digital platform.[1]
- Market Cap ₹ 9,504 Cr.
- Current Price ₹ 292
- High / Low ₹ 334 / 190
- Stock P/E 72.2
- Book Value ₹ 39.1
- Dividend Yield 0.00 %
- ROCE 8.04 %
- ROE 6.39 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 7.48 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 35.0%
- Earnings include an other income of Rs.84.0 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 460 | 943 | 1,493 | 1,920 | 2,067 | 2,184 | |
| 1,794 | 932 | 1,470 | 1,782 | 1,998 | 2,038 | |
| Operating Profit | -1,334 | 12 | 23 | 138 | 69 | 147 |
| OPM % | -290% | 1% | 2% | 7% | 3% | 7% |
| 12 | 21 | -132 | 49 | 79 | 84 | |
| Interest | 1 | 3 | 7 | 9 | 13 | 13 |
| Depreciation | 2 | 7 | 25 | 31 | 45 | 48 |
| Profit before tax | -1,325 | 22 | -141 | 147 | 90 | 170 |
| Tax % | 1% | 36% | 7% | 25% | 19% | |
| -1,332 | 14 | -151 | 111 | 73 | 132 | |
| EPS in Rs | -1,306,098.04 | 15,262.14 | -10.47 | 3.45 | 2.24 | 4.05 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 30% |
| TTM: | 11% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 66% |
| TTM: | 69% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -21% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 6% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 136 | 324 | 325 | 325 |
| Reserves | -1,765 | -1,087 | -1,323 | 771 | 855 | 946 |
| 1,954 | 1,853 | 1,885 | 131 | 136 | 142 | |
| 114 | 271 | 288 | 413 | 492 | 482 | |
| Total Liabilities | 303 | 1,036 | 986 | 1,640 | 1,808 | 1,895 |
| 21 | 342 | 252 | 299 | 302 | 301 | |
| CWIP | 0 | 2 | 0 | 0 | 0 | 0 |
| Investments | 164 | 339 | 260 | 292 | 305 | 289 |
| 117 | 354 | 474 | 1,049 | 1,201 | 1,305 | |
| Total Assets | 303 | 1,036 | 986 | 1,640 | 1,808 | 1,895 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 30 | 45 | -52 | 235 | 102 | |
| -21 | -505 | 40 | -470 | -145 | |
| -1 | 481 | -14 | 337 | -31 | |
| Net Cash Flow | 8 | 21 | -26 | 102 | -74 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 27 | 28 | 32 | 30 | 23 |
| Inventory Days | 114 | 86 | 99 | 83 | 105 |
| Days Payable | 221 | 219 | 161 | 185 | 212 |
| Cash Conversion Cycle | -80 | -105 | -30 | -71 | -84 |
| Working Capital Days | -2 | -12 | 8 | -10 | -17 |
| ROCE % | 5% | 3% | 16% | 8% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - Management of the Company will participate in Investor Conference namely - 28th India Forum 2025 hosted by CLSA on November 18, 2025.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
1d - Newspaper publication for the unaudited financial results for the quarter and half year ended September 30, 2025
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
2d - Audio of Nov 12, 2025 earnings call for quarter/H1 ended Sept 30, 2025 posted online.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
2d - ICRA monitoring report (Sep 30, 2025): IPO proceeds used as intended; ₹350.492Cr IPO, ₹113.012Cr unutilized.
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Announcement under Regulation 30 (LODR)-Investor Presentation
2d - Investor Presentation on the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025
Concalls
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Nov 2025TranscriptNotesPPT
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
Market Position[1] Honasa is India's largest digital-first beauty and personal care (BPC) company by revenue in FY24. As of CY23, according to Euromonitor, Mamaearth ranks as the third-largest skincare brand in India.[2]