Honasa Consumer share price today
Honasa Consumer Ltd · NSE: HONASA · New age - Platform - E-Retail · prices and results as of 5 November 2026, updated weekly · research updated 22 August 2026
Honasa Consumer share price today: ₹481.75 at the NSE close on 5 November 2026, up 75.9% in a year. Honasa Consumer (NSE: HONASA) is worth ₹15,718 crore, trades at a P/E of 62.3 and has closed between ₹261.45 and ₹502.80 over the past 52 weeks. Latest change: best operating margin in 15 quarters.
Honasa Consumer Ltd's results are improving, while its P/E is near the low end of its own history over 3 years, higher than only 16% of past readings.
The main question: yearly earnings per share moved +174.6% while the share price moved +75.9%.
The price has been rising for 30 weeks, and the P/E is lower than 84% of its own last 3 years. Over the last four quarters, results have been improving, with profit +119.5% on a year earlier, and 124% of the last 3 years' profit came in as cash. What will decide it: whether the price catches up with earnings that have already grown.
What is the Honasa Consumer share price today?
Honasa Consumer Ltd's share price was ₹481.75 at the close on 5 November 2026. It has been rising for 30 weeks. That is 18.1% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹261 and ₹503, and at that close it sat 91% of the way up from that low.
A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Honasa Consumer Ltd is in stage 2. The phase helps read everything below.
Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 5 weeks in a row.
1Y
Nov 2026: ₹482, 18.1% above its 200-day average. The price has been rising for 30 weeks.
- Price ₹482
- 50-day avg ₹457
- 200-day avg ₹408
| Week | Price | 50-day avg | 200-day avg |
|---|---|---|---|
| 31 Oct 2025 | ₹284 | ₹286 | ₹292 |
| 7 Nov 2025 | ₹274 | ₹285 | ₹291 |
| 14 Nov 2025 | ₹292 | ₹284 | ₹291 |
| 21 Nov 2025 | ₹287 | ₹286 | ₹291 |
| 28 Nov 2025 | ₹290 | ₹287 | ₹291 |
| 5 Dec 2025 | ₹275 | ₹286 | ₹290 |
| 12 Dec 2025 | ₹261 | ₹281 | ₹289 |
| 19 Dec 2025 | ₹270 | ₹277 | ₹287 |
| 26 Dec 2025 | ₹268 | ₹276 | ₹287 |
| 2 Jan 2026 | ₹293 | ₹278 | ₹287 |
| 9 Jan 2026 | ₹290 | ₹281 | ₹287 |
| 16 Jan 2026 | ₹286 | ₹282 | ₹287 |
| 23 Jan 2026 | ₹272 | ₹281 | ₹287 |
| 1 Feb 2026 | ₹276 | ₹279 | ₹286 |
| 6 Feb 2026 | ₹286 | ₹279 | ₹286 |
| 13 Feb 2026 | ₹301 | ₹283 | ₹286 |
| 20 Feb 2026 | ₹301 | ₹286 | ₹287 |
| 27 Feb 2026 | ₹303 | ₹290 | ₹288 |
| 6 Mar 2026 | ₹291 | ₹290 | ₹288 |
| 13 Mar 2026 | ₹269 | ₹289 | ₹288 |
| 20 Mar 2026 | ₹289 | ₹286 | ₹287 |
| 27 Mar 2026 | ₹298 | ₹287 | ₹287 |
| 2 Apr 2026 | ₹304 | ₹289 | ₹288 |
| 10 Apr 2026 | ₹345 | ₹295 | ₹289 |
| 17 Apr 2026 | ₹345 | ₹302 | ₹292 |
| 24 Apr 2026 | ₹349 | ₹310 | ₹294 |
| 30 Apr 2026 | ₹341 | ₹315 | ₹296 |
| 8 May 2026 | ₹359 | ₹321 | ₹299 |
| 15 May 2026 | ₹354 | ₹327 | ₹301 |
| 22 May 2026 | ₹384 | ₹333 | ₹304 |
| 29 May 2026 | ₹406 | ₹344 | ₹308 |
| 4 Jun 2026 | ₹417 | ₹353 | ₹312 |
| 5 Jun 2026 | ₹416 | ₹355 | ₹313 |
| 9 Jun 2026 | ₹408 | ₹360 | ₹315 |
| 10 Jun 2026 | ₹415 | ₹362 | ₹316 |
| 12 Jun 2026 | ₹414 | ₹366 | ₹318 |
| 17 Jun 2026 | ₹401 | ₹370 | ₹320 |
| 19 Jun 2026 | ₹417 | ₹373 | ₹322 |
| 24 Jun 2026 | ₹416 | ₹378 | ₹325 |
| 25 Jun 2026 | ₹418 | ₹380 | ₹326 |
| 1 Jul 2026 | ₹467 | ₹389 | ₹330 |
| 3 Jul 2026 | ₹462 | ₹395 | ₹333 |
| 10 Jul 2026 | ₹472 | ₹408 | ₹339 |
| 17 Jul 2026 | ₹467 | ₹419 | ₹346 |
| 24 Jul 2026 | ₹449 | ₹425 | ₹351 |
| 31 Jul 2026 | ₹450 | ₹430 | ₹356 |
| 7 Aug 2026 | ₹478 | ₹436 | ₹361 |
| 14 Aug 2026 | ₹503 | ₹444 | ₹367 |
| 21 Aug 2026 | ₹482 | ₹450 | ₹372 |
| 28 Aug 2026 | ₹471 | ₹456 | ₹378 |
| 4 Sep 2026 | ₹471 | ₹459 | ₹382 |
| 11 Sep 2026 | ₹471 | ₹462 | ₹387 |
| 18 Sep 2026 | ₹480 | ₹462 | ₹390 |
| 25 Sep 2026 | ₹466 | ₹465 | ₹394 |
| 28 Sep 2026 | ₹465 | ₹465 | ₹395 |
| 1 Oct 2026 | ₹428 | ₹461 | ₹396 |
| 9 Oct 2026 | ₹469 | ₹462 | ₹399 |
| 16 Oct 2026 | ₹452 | ₹462 | ₹402 |
| 23 Oct 2026 | ₹432 | ₹458 | ₹404 |
| 30 Oct 2026 | ₹442 | ₹456 | ₹406 |
| 5 Nov 2026 | ₹482 | ₹457 | ₹408 |
3Y
Nov 2026: ₹482, 18.1% above its 200-day average. The price has been rising for 30 weeks.
- Price ₹482
- 50-day avg ₹457
- 200-day avg ₹408
| Week | Price | 50-day avg | 200-day avg |
|---|---|---|---|
| 12 Nov 2023 | ₹321 | ₹334 | ₹336 |
| 17 Nov 2023 | ₹332 | ₹333 | ₹336 |
| 24 Nov 2023 | ₹475 | ₹344 | ₹339 |
| 1 Dec 2023 | ₹400 | ₹356 | ₹342 |
| 8 Dec 2023 | ₹400 | ₹361 | ₹344 |
| 15 Dec 2023 | ₹407 | ₹368 | ₹347 |
| 22 Dec 2023 | ₹425 | ₹376 | ₹350 |
| 29 Dec 2023 | ₹441 | ₹387 | ₹354 |
| 5 Jan 2024 | ₹446 | ₹397 | ₹358 |
| 12 Jan 2024 | ₹474 | ₹410 | ₹364 |
| 20 Jan 2024 | ₹477 | ₹423 | ₹370 |
| 25 Jan 2024 | ₹486 | ₹430 | ₹373 |
| 2 Feb 2024 | ₹437 | ₹436 | ₹378 |
| 9 Feb 2024 | ₹433 | ₹435 | ₹380 |
| 16 Feb 2024 | ₹445 | ₹435 | ₹383 |
| 23 Feb 2024 | ₹445 | ₹436 | ₹386 |
| 2 Mar 2024 | ₹419 | ₹433 | ₹388 |
| 7 Mar 2024 | ₹392 | ₹428 | ₹388 |
| 15 Mar 2024 | ₹379 | ₹419 | ₹388 |
| 22 Mar 2024 | ₹370 | ₹411 | ₹387 |
| 28 Mar 2024 | ₹402 | ₹409 | ₹387 |
| 5 Apr 2024 | ₹405 | ₹409 | ₹388 |
| 12 Apr 2024 | ₹398 | ₹407 | ₹389 |
| 19 Apr 2024 | ₹387 | ₹404 | ₹389 |
| 26 Apr 2024 | ₹429 | ₹408 | ₹390 |
| 3 May 2024 | ₹420 | ₹410 | ₹392 |
| 10 May 2024 | ₹429 | ₹414 | ₹393 |
| 18 May 2024 | ₹407 | ₹413 | ₹395 |
| 24 May 2024 | ₹431 | ₹415 | ₹396 |
| 31 May 2024 | ₹442 | ₹417 | ₹397 |
| 7 Jun 2024 | ₹439 | ₹422 | ₹400 |
| 14 Jun 2024 | ₹430 | ₹425 | ₹401 |
| 21 Jun 2024 | ₹450 | ₹426 | ₹403 |
| 28 Jun 2024 | ₹433 | ₹429 | ₹405 |
| 5 Jul 2024 | ₹482 | ₹434 | ₹407 |
| 12 Jul 2024 | ₹475 | ₹440 | ₹410 |
| 19 Jul 2024 | ₹462 | ₹446 | ₹413 |
| 26 Jul 2024 | ₹466 | ₹449 | ₹415 |
| 2 Aug 2024 | ₹455 | ₹452 | ₹418 |
| 9 Aug 2024 | ₹474 | ₹455 | ₹420 |
| 16 Aug 2024 | ₹464 | ₹456 | ₹422 |
| 23 Aug 2024 | ₹469 | ₹458 | ₹424 |
| 30 Aug 2024 | ₹505 | ₹468 | ₹428 |
| 6 Sep 2024 | ₹531 | ₹476 | ₹432 |
| 13 Sep 2024 | ₹494 | ₹483 | ₹436 |
| 20 Sep 2024 | ₹478 | ₹481 | ₹438 |
| 27 Sep 2024 | ₹457 | ₹480 | ₹440 |
| 4 Oct 2024 | ₹427 | ₹475 | ₹440 |
| 11 Oct 2024 | ₹430 | ₹467 | ₹440 |
| 18 Oct 2024 | ₹423 | ₹459 | ₹439 |
| 25 Oct 2024 | ₹400 | ₹450 | ₹438 |
| 1 Nov 2024 | ₹395 | ₹441 | ₹436 |
| 8 Nov 2024 | ₹381 | ₹431 | ₹433 |
| 14 Nov 2024 | ₹372 | ₹422 | ₹431 |
| 22 Nov 2024 | ₹225 | ₹397 | ₹424 |
| 29 Nov 2024 | ₹264 | ₹369 | ₹415 |
| 6 Dec 2024 | ₹266 | ₹351 | ₹408 |
| 13 Dec 2024 | ₹248 | ₹333 | ₹400 |
| 20 Dec 2024 | ₹260 | ₹319 | ₹393 |
| 27 Dec 2024 | ₹247 | ₹309 | ₹388 |
| 3 Jan 2025 | ₹253 | ₹299 | ₹381 |
| 10 Jan 2025 | ₹242 | ₹289 | ₹374 |
| 17 Jan 2025 | ₹247 | ₹281 | ₹368 |
| 24 Jan 2025 | ₹244 | ₹275 | ₹362 |
| 1 Feb 2025 | ₹229 | ₹264 | ₹354 |
| 7 Feb 2025 | ₹214 | ₹256 | ₹348 |
| 14 Feb 2025 | ₹222 | ₹249 | ₹341 |
| 21 Feb 2025 | ₹224 | ₹244 | ₹336 |
| 28 Feb 2025 | ₹215 | ₹241 | ₹331 |
| 7 Mar 2025 | ₹224 | ₹237 | ₹326 |
| 13 Mar 2025 | ₹210 | ₹233 | ₹321 |
| 21 Mar 2025 | ₹221 | ₹230 | ₹316 |
| 28 Mar 2025 | ₹232 | ₹231 | ₹312 |
| 4 Apr 2025 | ₹234 | ₹232 | ₹309 |
| 11 Apr 2025 | ₹232 | ₹231 | ₹306 |
| 17 Apr 2025 | ₹234 | ₹231 | ₹304 |
| 25 Apr 2025 | ₹232 | ₹231 | ₹300 |
| 2 May 2025 | ₹253 | ₹234 | ₹298 |
| 9 May 2025 | ₹247 | ₹236 | ₹296 |
| 16 May 2025 | ₹262 | ₹240 | ₹294 |
| 23 May 2025 | ₹329 | ₹248 | ₹293 |
| 30 May 2025 | ₹316 | ₹260 | ₹294 |
| 6 Jun 2025 | ₹320 | ₹271 | ₹295 |
| 13 Jun 2025 | ₹307 | ₹279 | ₹296 |
| 20 Jun 2025 | ₹301 | ₹284 | ₹297 |
| 27 Jun 2025 | ₹310 | ₹288 | ₹297 |
| 4 Jul 2025 | ₹296 | ₹291 | ₹298 |
| 11 Jul 2025 | ₹294 | ₹292 | ₹298 |
| 18 Jul 2025 | ₹286 | ₹292 | ₹297 |
| 25 Jul 2025 | ₹264 | ₹289 | ₹296 |
| 1 Aug 2025 | ₹272 | ₹285 | ₹295 |
| 8 Aug 2025 | ₹259 | ₹281 | ₹293 |
| 14 Aug 2025 | ₹280 | ₹280 | ₹293 |
| 22 Aug 2025 | ₹300 | ₹283 | ₹293 |
| 29 Aug 2025 | ₹293 | ₹285 | ₹293 |
| 5 Sep 2025 | ₹300 | ₹287 | ₹293 |
| 12 Sep 2025 | ₹300 | ₹290 | ₹294 |
| 19 Sep 2025 | ₹301 | ₹292 | ₹294 |
| 26 Sep 2025 | ₹284 | ₹293 | ₹294 |
| 3 Oct 2025 | ₹292 | ₹292 | ₹294 |
| 10 Oct 2025 | ₹292 | ₹292 | ₹294 |
| 17 Oct 2025 | ₹279 | ₹290 | ₹293 |
| 24 Oct 2025 | ₹276 | ₹288 | ₹292 |
| 31 Oct 2025 | ₹284 | ₹286 | ₹292 |
| 7 Nov 2025 | ₹274 | ₹285 | ₹291 |
| 14 Nov 2025 | ₹292 | ₹284 | ₹291 |
| 21 Nov 2025 | ₹287 | ₹286 | ₹291 |
| 28 Nov 2025 | ₹290 | ₹287 | ₹291 |
| 5 Dec 2025 | ₹275 | ₹286 | ₹290 |
| 12 Dec 2025 | ₹261 | ₹281 | ₹289 |
| 19 Dec 2025 | ₹270 | ₹277 | ₹287 |
| 26 Dec 2025 | ₹268 | ₹276 | ₹287 |
| 2 Jan 2026 | ₹293 | ₹278 | ₹287 |
| 9 Jan 2026 | ₹290 | ₹281 | ₹287 |
| 16 Jan 2026 | ₹286 | ₹282 | ₹287 |
| 23 Jan 2026 | ₹272 | ₹281 | ₹287 |
| 1 Feb 2026 | ₹276 | ₹279 | ₹286 |
| 6 Feb 2026 | ₹286 | ₹279 | ₹286 |
| 13 Feb 2026 | ₹301 | ₹283 | ₹286 |
| 20 Feb 2026 | ₹301 | ₹286 | ₹287 |
| 27 Feb 2026 | ₹303 | ₹290 | ₹288 |
| 6 Mar 2026 | ₹291 | ₹290 | ₹288 |
| 13 Mar 2026 | ₹269 | ₹289 | ₹288 |
| 20 Mar 2026 | ₹289 | ₹286 | ₹287 |
| 27 Mar 2026 | ₹298 | ₹287 | ₹287 |
| 2 Apr 2026 | ₹304 | ₹289 | ₹288 |
| 10 Apr 2026 | ₹345 | ₹295 | ₹289 |
| 17 Apr 2026 | ₹345 | ₹302 | ₹292 |
| 24 Apr 2026 | ₹349 | ₹310 | ₹294 |
| 30 Apr 2026 | ₹341 | ₹315 | ₹296 |
| 8 May 2026 | ₹359 | ₹321 | ₹299 |
| 15 May 2026 | ₹354 | ₹327 | ₹301 |
| 22 May 2026 | ₹384 | ₹333 | ₹304 |
| 29 May 2026 | ₹406 | ₹344 | ₹308 |
| 4 Jun 2026 | ₹417 | ₹353 | ₹312 |
| 5 Jun 2026 | ₹416 | ₹355 | ₹313 |
| 9 Jun 2026 | ₹408 | ₹360 | ₹315 |
| 10 Jun 2026 | ₹415 | ₹362 | ₹316 |
| 12 Jun 2026 | ₹414 | ₹366 | ₹318 |
| 17 Jun 2026 | ₹401 | ₹370 | ₹320 |
| 19 Jun 2026 | ₹417 | ₹373 | ₹322 |
| 24 Jun 2026 | ₹416 | ₹378 | ₹325 |
| 25 Jun 2026 | ₹418 | ₹380 | ₹326 |
| 1 Jul 2026 | ₹467 | ₹389 | ₹330 |
| 3 Jul 2026 | ₹462 | ₹395 | ₹333 |
| 10 Jul 2026 | ₹472 | ₹408 | ₹339 |
| 17 Jul 2026 | ₹467 | ₹419 | ₹346 |
| 24 Jul 2026 | ₹449 | ₹425 | ₹351 |
| 31 Jul 2026 | ₹450 | ₹430 | ₹356 |
| 7 Aug 2026 | ₹478 | ₹436 | ₹361 |
| 14 Aug 2026 | ₹503 | ₹444 | ₹367 |
| 21 Aug 2026 | ₹482 | ₹450 | ₹372 |
| 28 Aug 2026 | ₹471 | ₹456 | ₹378 |
| 4 Sep 2026 | ₹471 | ₹459 | ₹382 |
| 11 Sep 2026 | ₹471 | ₹462 | ₹387 |
| 18 Sep 2026 | ₹480 | ₹462 | ₹390 |
| 25 Sep 2026 | ₹466 | ₹465 | ₹394 |
| 28 Sep 2026 | ₹465 | ₹465 | ₹395 |
| 1 Oct 2026 | ₹428 | ₹461 | ₹396 |
| 9 Oct 2026 | ₹469 | ₹462 | ₹399 |
| 16 Oct 2026 | ₹452 | ₹462 | ₹402 |
| 23 Oct 2026 | ₹432 | ₹458 | ₹404 |
| 30 Oct 2026 | ₹442 | ₹456 | ₹406 |
| 5 Nov 2026 | ₹482 | ₹457 | ₹408 |
Price stage: Falling from Oct 2025 to Feb 2026; Sideways from Mar 2026 to Apr 2026; Rising from Apr 2026 to Oct 2026.
Price stage: Falling from Nov 2023 to Dec 2023; Rising from Dec 2023 to Nov 2024; Falling from Nov 2024 to Jul 2025; Sideways from Jul 2025 to Aug 2025; Falling from Aug 2025 to Oct 2025; Sideways in Oct 2025; Falling from Nov 2025 to Feb 2026; Sideways from Mar 2026 to Apr 2026; Rising from Apr 2026 to Oct 2026.
Week by week since 2023: did it beat the NIFTY 500 over the past 13 weeks?
Ahead in 85 of 151 weeks
| Week | 13-week return vs NIFTY 500 |
|---|---|
| 12 Nov 2023 | no NIFTY 500 reading |
| 17 Nov 2023 | no NIFTY 500 reading |
| 24 Nov 2023 | no NIFTY 500 reading |
| 1 Dec 2023 | no NIFTY 500 reading |
| 8 Dec 2023 | no NIFTY 500 reading |
| 15 Dec 2023 | no NIFTY 500 reading |
| 22 Dec 2023 | no NIFTY 500 reading |
| 29 Dec 2023 | no NIFTY 500 reading |
| 5 Jan 2024 | no NIFTY 500 reading |
| 12 Jan 2024 | no NIFTY 500 reading |
| 20 Jan 2024 | no NIFTY 500 reading |
| 25 Jan 2024 | no NIFTY 500 reading |
| 2 Feb 2024 | no NIFTY 500 reading |
| 9 Feb 2024 | +21.8% |
| 16 Feb 2024 | +19.8% |
| 23 Feb 2024 | −18.2% |
| 2 Mar 2024 | −0.6% |
| 7 Mar 2024 | −6.8% |
| 15 Mar 2024 | −11.2% |
| 22 Mar 2024 | −17.2% |
| 28 Mar 2024 | −15.1% |
| 5 Apr 2024 | −16.3% |
| 12 Apr 2024 | −20.9% |
| 19 Apr 2024 | −25.3% |
| 26 Apr 2024 | −17.8% |
| 3 May 2024 | −6.7% |
| 10 May 2024 | −5.0% |
| 18 May 2024 | −14.2% |
| 24 May 2024 | −9.4% |
| 31 May 2024 | −1.7% |
| 7 Jun 2024 | +0.2% |
| 14 Jun 2024 | +0.1% |
| 21 Jun 2024 | +10.0% |
| 28 Jun 2024 | −3.3% |
| 5 Jul 2024 | +9.2% |
| 12 Jul 2024 | +6.0% |
| 19 Jul 2024 | +8.8% |
| 26 Jul 2024 | −3.4% |
| 2 Aug 2024 | −2.0% |
| 9 Aug 2024 | +1.1% |
| 16 Aug 2024 | +4.2% |
| 23 Aug 2024 | −2.3% |
| 30 Aug 2024 | +1.6% |
| 6 Sep 2024 | +13.9% |
| 13 Sep 2024 | +7.4% |
| 20 Sep 2024 | −2.5% |
| 27 Sep 2024 | −0.6% |
| 4 Oct 2024 | −14.1% |
| 11 Oct 2024 | −11.7% |
| 18 Oct 2024 | −8.2% |
| 25 Oct 2024 | −10.8% |
| 1 Nov 2024 | −14.0% |
| 8 Nov 2024 | −16.1% |
| 14 Nov 2024 | −14.2% |
| 22 Nov 2024 | −48.1% |
| 29 Nov 2024 | −45.0% |
| 6 Dec 2024 | −49.2% |
| 13 Dec 2024 | −45.7% |
| 20 Dec 2024 | −37.5% |
| 27 Dec 2024 | −38.1% |
| 3 Jan 2025 | −35.1% |
| 10 Jan 2025 | −34.8% |
| 17 Jan 2025 | −35.3% |
| 24 Jan 2025 | −32.4% |
| 1 Feb 2025 | −36.6% |
| 7 Feb 2025 | −39.3% |
| 14 Feb 2025 | −34.4% |
| 21 Feb 2025 | +9.6% |
| 28 Feb 2025 | −6.1% |
| 7 Mar 2025 | −2.5% |
| 13 Mar 2025 | −6.6% |
| 21 Mar 2025 | −10.0% |
| 28 Mar 2025 | −1.2% |
| 4 Apr 2025 | +1.2% |
| 11 Apr 2025 | −3.4% |
| 17 Apr 2025 | −9.3% |
| 25 Apr 2025 | −8.6% |
| 2 May 2025 | +8.9% |
| 9 May 2025 | +7.6% |
| 16 May 2025 | +8.1% |
| 23 May 2025 | +35.6% |
| 30 May 2025 | +34.3% |
| 6 Jun 2025 | +27.8% |
| 13 Jun 2025 | +36.6% |
| 20 Jun 2025 | +26.7% |
| 27 Jun 2025 | +23.1% |
| 4 Jul 2025 | +10.7% |
| 11 Jul 2025 | +17.2% |
| 18 Jul 2025 | +17.2% |
| 25 Jul 2025 | +9.2% |
| 1 Aug 2025 | +4.8% |
| 8 Aug 2025 | +4.0% |
| 14 Aug 2025 | +5.0% |
| 22 Aug 2025 | −8.8% |
| 29 Aug 2025 | −7.7% |
| 5 Sep 2025 | −5.2% |
| 12 Sep 2025 | −4.7% |
| 19 Sep 2025 | +0.8% |
| 26 Sep 2025 | −5.8% |
| 3 Oct 2025 | +0.6% |
| 10 Oct 2025 | −0.4% |
| 17 Oct 2025 | −3.9% |
| 24 Oct 2025 | +0.8% |
| 31 Oct 2025 | +0.3% |
| 7 Nov 2025 | +0.9% |
| 14 Nov 2025 | +1.2% |
| 21 Nov 2025 | −9.7% |
| 28 Nov 2025 | −4.8% |
| 5 Dec 2025 | −9.8% |
| 12 Dec 2025 | −13.0% |
| 19 Dec 2025 | −13.2% |
| 26 Dec 2025 | −9.7% |
| 2 Jan 2026 | −3.7% |
| 9 Jan 2026 | −0.9% |
| 16 Jan 2026 | +6.3% |
| 23 Jan 2026 | +2.0% |
| 1 Feb 2026 | −1.9% |
| 6 Feb 2026 | +4.4% |
| 13 Feb 2026 | +4.3% |
| 20 Feb 2026 | +7.2% |
| 27 Feb 2026 | +10.0% |
| 6 Mar 2026 | +9.7% |
| 13 Mar 2026 | +9.6% |
| 20 Mar 2026 | +16.9% |
| 27 Mar 2026 | +23.4% |
| 2 Apr 2026 | +11.7% |
| 10 Apr 2026 | +22.5% |
| 17 Apr 2026 | +20.1% |
| 24 Apr 2026 | +29.3% |
| 30 Apr 2026 | +24.7% |
| 8 May 2026 | +31.1% |
| 15 May 2026 | +22.1% |
| 22 May 2026 | +31.0% |
| 29 May 2026 | +33.0% |
| 4 Jun 2026 | +43.5% |
| 5 Jun 2026 | +52.2% |
| 9 Jun 2026 | +35.8% |
| 10 Jun 2026 | +31.1% |
| 12 Jun 2026 | +34.0% |
| 17 Jun 2026 | +14.0% |
| 19 Jun 2026 | +20.2% |
| 24 Jun 2026 | +18.2% |
| 25 Jun 2026 | +22.7% |
| 1 Jul 2026 | +26.4% |
| 3 Jul 2026 | +27.0% |
| 10 Jul 2026 | +19.8% |
| 17 Jul 2026 | +11.9% |
| 24 Jul 2026 | +5.6% |
| 31 Jul 2026 | +3.6% |
| 7 Aug 2026 | +12.2% |
| 14 Aug 2026 | +16.9% |
| 21 Aug 2026 | +12.4% |
| 28 Aug 2026 | +15.6% |
| 4 Sep 2026 | +12.4% |
| 11 Sep 2026 | +14.3% |
| 18 Sep 2026 | +16.0% |
| 25 Sep 2026 | +2.8% |
| 28 Sep 2026 | +6.8% |
| 1 Oct 2026 | −3.0% |
| 9 Oct 2026 | +6.7% |
| 16 Oct 2026 | +3.6% |
| 23 Oct 2026 | +4.7% |
| 30 Oct 2026 | +0.2% |
| 5 Nov 2026 | +3.0% |
Over the last 3 years the share price moved +50% while the NIFTY 500 moved +24%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.
This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.
What changed at Honasa Consumer this quarter?
Three changes stood out: best operating margin in 15 quarters, indian funds and insurers (DIIs) raised their stake for 3 quarters in a row and revenue up on a year earlier for 7 quarters in a row.
Best operating margin in 15 quarters
Operating margin was 15% in the June 2026 quarter, against 8% a year earlier.
Why: Margins rose because the company sold a more profitable mix, got more sales from the same overhead, had a seasonal lift and a one-time cut in operating costs.
Next results: check the underlying margin after the summer mix and one-time cost benefit.
From the earnings call on 13 Aug 2026.
Indian funds and insurers (DIIs) raised their stake for 3 quarters in a row
From 18.6% to 23.4% of the company by the September 2026 quarter.
Revenue up on a year earlier for 7 quarters in a row
In the June 2026 quarter revenue was ₹756 crore, +27.1% on a year earlier.
Why: Revenue rose because the company focused on a smaller set of products, sold more through online, general trade and modern trade, and its main brand and younger brands both grew.
Next results: check whether younger brands keep growing after the Aqualogica restage and BTM expansion.
From the earnings call on 13 Aug 2026.
What are Honasa Consumer's latest quarterly results?
For April to June 2026 (the quarter ended 30 June 2026), Honasa Consumer reported revenue of ₹756 crore, up 27.1% from ₹595 crore a year earlier, and a profit of ₹90.0 crore, up 119.5% from ₹41.0 crore.
Honasa Consumer results: April to June 2026 against a year earlier
| Measure | April to June 2026 | April to June 2025 | Change |
|---|---|---|---|
| Revenue | ₹756 crore | ₹595 crore | +27.1% |
| Profit | ₹90.0 crore | ₹41.0 crore | +119.5% |
| Earnings per share | ₹2.77 | ₹1.27 | +118.1% |
| Operating margin | 15.0% | 8.0% | +7.0 points |
The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).
Honasa Consumer's management discussed these results on a call held on 13 August 2026; what it said is further down this page.
From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.
What is the Honasa Consumer share price history?
Honasa Consumer closed at ₹481.75 on 5 November 2026, up 75.9% from ₹273.95 a year earlier (7 November 2025) and up 50.0% over three years. Its highest weekly close since November 2023 was ₹531.00 on 6 September 2024.
Honasa Consumer share price: then and now
| When | Close | Change to 5 Nov 2026 |
|---|---|---|
| 1 week ago · 30 Oct 2026 | ₹442.10 | +9.0% |
| 1 month ago · 9 Oct 2026 | ₹468.70 | +2.8% |
| 6 months ago · 8 May 2026 | ₹359.25 | +34.1% |
| 1 year ago · 7 Nov 2025 | ₹273.95 | +75.9% |
| 3 years ago · 12 Nov 2023 | ₹321.10 | +50.0% |
| Earliest weekly close in our records · 12 Nov 2023 | ₹321.10 | +50.0% |
| Highest weekly close since November 2023 · 6 Sep 2024 | ₹531.00 | −9.3% |
| Lowest weekly close since November 2023 · 13 Mar 2025 | ₹209.59 | +129.9% |
| 52-week high (weekly close) · 14 Aug 2026 | ₹502.80 | −4.2% |
| 52-week low (weekly close) · 12 Dec 2025 | ₹261.45 | +84.3% |
Weekly closing prices. Each change is the move from that price to the 5 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.
164 weekly closes from 12 November 2023 to 5 November 2026.
What is the latest news on Honasa Consumer?
5 Nov 2026: Honasa Consumer closed at ₹481.75, up 9.0% on the week and up 2.8% on the month. 28 Aug 2026: ex-date for a dividend of ₹3 a share.
Earlier
- 13 Aug 2026: Honasa Consumer held its results call for April to June 2026. Management guided: Company revenue yearly growth in the high teens over five years; FY27 growth expected above that framework.
- Results for April to June 2026: Revenue up 27.1% and profit up 119.5% on a year earlier.
What dividend does Honasa Consumer pay?
Honasa Consumer paid ₹3 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.62% at the ₹481.75 close on 5 November 2026. The last was a dividend of ₹3 a share, ex-date 28 August 2026.
Honasa Consumer dividends since 1 April 2021
| Ex-date | Dividend per share | Type |
|---|---|---|
| 28 Aug 2026Dividend | ₹3 | Dividend |
Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.
Yes. Honasa Consumer Ltd paid out 49% of its profit as dividends in FY26, and it paid a dividend in 1 of its last 6 reported years.
From the NSE corporate-actions record, read 5 November 2026.
What did Honasa Consumer management say on the latest results call?
On the call for April to June 2026, held on 13 August 2026, Honasa Consumer's management guided: Company revenue yearly growth in the high teens over five years; FY27 growth expected above that framework.
“Our focus is growth first. The mindset is clearly growth first. Therefore, if there are opportunities where we need to reinvest and target growth, that is how we will approach the rest of the year.”Ramanpreet Sohi, on the call for April to June 2026
What management guided
- Mamaearth yearly growth in double digits over five years; FY27 growth expected above its planned trajectory.
- Operating margin expansion of 100-150 basis points annually toward 15% in five years.
- FY27 operating margin improvement of 150-200 basis points over last year.
- Rice franchise potential of ₹500 crore and Rosemary shampoo potential of ₹250 crore over next 3-4 years.
Management’s own plans and goals, from our notes of the call. A plan is not a result.
Source: the call transcript.
From the call for April to June 2026, 13 August 2026.
What is the future of Honasa Consumer? What is changing in the business?
What is changing at Honasa Consumer, from the latest results and calls: operating leverage delivering, operating margin expanded five consecutive quarters, derma co reaches ₹1,000 crore scale, second flagship brand confirmed and younger brands portfolio growing above 40%.
- Operating Leverage Delivering, operating margin Expanded Five Consecutive Quarters. Operating margin rose from 5% in Mar-25 to 15% in Jun-26; the underlying margin after the one-time benefit is 12%, still a strong improvement from the trough. ⚠ estimate
- Derma Co Reaches ₹1,000 crore Scale, Second Flagship Brand Confirmed. Derma Co crossed ₹1,000 crore in April to June 2026 and is Honasa's second brand at that scale; face cleansers alone exceeded ₹200 crore run-rate. ⚠ estimate
We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.
Our read after the latest results, written 22 August 2026.
What could change the Honasa Consumer story? What are the risks?
Operating margins rolling back below 10% in two consecutive quarters without a recoverable cause, combined with younger-brand growth stalling below 20%, would signal the recovery is a margin-peak cycle rather than a durable platform expansion.
Each change stops working if
- Operating Leverage Delivering, operating margin Expanded Five Consecutive Quarters: July to September 2026 operating margin falls below 9% despite price increases, indicating packaging inflation is overwhelming the operating leverage and exposing the headline margin as unsustainable.
- Derma Co Reaches ₹1,000 crore Scale, Second Flagship Brand Confirmed: Derma Co's operating margin falls below double-digit levels as it expands offline distribution, signalling that the offline model is diluting rather than adding to the profitability of the brand.
The main risks
- Management Narrative Consistency, Seven Flags Across Five Concalls: The April to June 2026 call added an ambiguous Staze repositioning flag, the seventh documented inconsistency, establishing a pattern of narrative management that makes guidance hard to anchor. ⚠ estimate
- ASCI Regulatory Exposure, 187 Flagged Ads in FY24, No Public Remediation Plan: Honasa was the top ad-standard violator in India in FY24 with 187 flagged ads; the influencer-first D2C model remains structurally exposed to Consumer Protection Act enforcement. ⚠ estimate
- Working capital Days Expanding Faster Than Revenue, Distributor Model Flag: Cash conversion cycle widened from minus 105 days to minus 78 days over four years as payables shortened 26 days; not a leak but a structural distribution model shift that warrants monitoring. ✓ fact
Our read after the latest results, written 22 August 2026.
What to watch in Honasa Consumer's next results?
When Honasa Consumer reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Underlying operating margin after summer mix and one-time OPEX benefit - check whether operating leverage persists with growth-first reinvestment.
| What to check (from the call) |
|---|
| Underlying operating margin after summer mix and one-time OPEX benefit - check whether operating leverage persists with growth-first reinvestment. |
| Packaging inflation in the next quarter - check whether calibrated price increases offset delayed raw-material pressure. |
| FIKN launch traction - check early consumer response to the fragrance-first, elixir-based proposition. |
| Younger-brand scaling after Aqualogica's restage and BTM's geographic expansion - check whether portfolio growth broadens sustainably. |
Which stock lists is Honasa Consumer on?
Honasa Consumer is on 3 of our India lists: Undervalued stocks, Momentum stocks and Small & mid cap stocks.
Is Honasa Consumer profitable?
Honasa Consumer Ltd earned ₹90.0 Cr of net profit in the Jun 2026 quarter, +119.5% on the same quarter a year earlier. That is the 3rd quarter in a row of profit growth. Full-year FY26 profit was ₹200 Cr. That is 11.9% of the quarter's revenue. The same quarter a year earlier earned ₹41.0 Cr.
Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.
1 of the last 12 reported quarters were loss-making.
For the full year, FY26 profit was ₹200 Cr (+174.0% on the year before).
FY26 profit ₹200 Cr (+174.0% on the year before)
- Net profit ₹200
| Quarter | Net profit |
|---|---|
| FY21 | −₹1,332 |
| FY22 | ₹14 |
| FY23 | −₹151 |
| FY24 | ₹111 |
| FY25 | ₹73 |
| FY26 | ₹200 |
Growth on a year earlier
- Growth on a year earlier 174%
| Quarter | Growth on a year earlier |
|---|---|
| FY21 | – |
| FY22 | – |
| FY23 | −1,178.6% |
| FY24 | – |
| FY25 | −34.2% |
| FY26 | 174% |
Jun 2026: ₹90.0 Cr (+119.5% on a year earlier), the 3rd quarter in a row of growth
- Net profit (quarterly) ₹90.0
| Quarter | Net profit (quarterly) |
|---|---|
| Sep 2023 | ₹29 |
| Dec 2023 | ₹26 |
| Mar 2024 | ₹30 |
| Jun 2024 | ₹40 |
| Sep 2024 | −₹19 |
| Dec 2024 | ₹26 |
| Mar 2025 | ₹25 |
| Jun 2025 | ₹41 |
| Sep 2025 | ₹39 |
| Dec 2025 | ₹50 |
| Mar 2026 | ₹69 |
| Jun 2026 | ₹90 |
Growth on a year earlier
- Growth on a year earlier 119.5%
| Quarter | Growth on a year earlier |
|---|---|
| Sep 2023 | 70.6% |
| Dec 2023 | 271.4% |
| Mar 2024 | – |
| Jun 2024 | 60% |
| Sep 2024 | −165.5% |
| Dec 2024 | 0% |
| Mar 2025 | −16.7% |
| Jun 2025 | 2.5% |
| Sep 2025 | – |
| Dec 2025 | 92.3% |
| Mar 2026 | 176% |
| Jun 2026 | 119.5% |
Why profit moved: revenue changed +27.1% on a year earlier and the margin moved +7.0 percentage points. Most of the change came from keeping more of each sale.
On average over the last four quarters, profit changed +129.3% and revenue +20.7%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.
How much revenue does Honasa Consumer make, and is it growing?
Honasa Consumer Ltd reported ₹756 Cr of revenue in the Jun 2026 quarter, +27.1% on the same quarter a year earlier. That is the 7th quarter in a row with growth on the year before. Over 5 years it has grown 39.1% a year on average. The last full year, FY26, came in at ₹2,392 Cr.
Revenue is everything the company billed its customers in the period.
Why this happened. Derma Co reached the Rs1,000 Cr scale milestone in Q1 FY27, a level previously held only by Mamaearth. This validates the multi-brand platform thesis: the company can build and scale more than one brand to significant revenue. The offline buildout began one year ago; general-trade presence is close to 50,000 outlets with strong modern-trade traction. The brand's EBITDA margin improved into the teens as it scaled. Management guided Mamaearth at double-digit CAGR for five years with distribution expansion from 200,000 to 500,000 outlets, which remains a live growth axis separate from Derma Co.
The last four reported quarters add to ₹2,553 Cr.
FY26 revenue was ₹2,392 Cr, +15.7% on the year before.
FY26 revenue ₹2,392 Cr (+15.7% on the year before), 39.1% a year over 5 years
- Revenue ₹2,392
| Quarter | Revenue |
|---|---|
| FY21 | ₹460 |
| FY22 | ₹943 |
| FY23 | ₹1,493 |
| FY24 | ₹1,920 |
| FY25 | ₹2,067 |
| FY26 | ₹2,392 |
Growth on a year earlier
- Growth on a year earlier 15.7%
| Quarter | Growth on a year earlier |
|---|---|
| FY21 | – |
| FY22 | 105% |
| FY23 | 58.3% |
| FY24 | 28.6% |
| FY25 | 7.7% |
| FY26 | 15.7% |
Jun 2026: ₹756 Cr (+27.1% on a year earlier), the 7th quarter in a row of growth
- Revenue (quarterly) ₹756
| Quarter | Revenue (quarterly) |
|---|---|
| Sep 2023 | ₹496 |
| Dec 2023 | ₹488 |
| Mar 2024 | ₹471 |
| Jun 2024 | ₹554 |
| Sep 2024 | ₹462 |
| Dec 2024 | ₹518 |
| Mar 2025 | ₹534 |
| Jun 2025 | ₹595 |
| Sep 2025 | ₹538 |
| Dec 2025 | ₹602 |
| Mar 2026 | ₹657 |
| Jun 2026 | ₹756 |
Growth on a year earlier
- Growth on a year earlier 27.1%
| Quarter | Growth on a year earlier |
|---|---|
| Sep 2023 | 21% |
| Dec 2023 | 27.7% |
| Mar 2024 | 21.4% |
| Jun 2024 | 19.4% |
| Sep 2024 | −6.9% |
| Dec 2024 | 6.1% |
| Mar 2025 | 13.4% |
| Jun 2025 | 7.4% |
| Sep 2025 | 16.5% |
| Dec 2025 | 16.2% |
| Mar 2026 | 23% |
| Jun 2026 | 27.1% |
Recent pace: the last four quarters grew +20.7% on average, against 39.1% a year over the longer run, so this year is growing slower than its own long-run rate.
Is growth speeding up? Revenue over the last 12 months grew +21.1%, against +12.7% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +239.7%, against +40.9% a year (accelerating).
Watch next
- Metric
- Derma Co Reaches Rs1,000 Cr Scale, Second Flagship Brand…
- Threshold
- Derma Co's EBITDA margin falls below double-digit levels as it expands offline distribution, signalling that the offline model is diluting rather than adding to the profitability of the brand.
- Which result
- the next result
How much of every ₹100 of sales does Honasa Consumer keep?
Honasa Consumer Ltd's operating margin was 15.0% in the Jun 2026 quarter, 7.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 6 years it has been between −290.0% and 10.0%. The latest quarter is above every full year in that period.
Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.
Why this happened. The Project Neev distribution restructuring compressed OPM to a trough of 5% in Mar-25. The recovery arc over five quarters to 15% in Jun-26 is driven by three levers: mix improvement toward higher-margin focus categories (300-350 basis points), operating leverage from revenue growth absorbing fixed costs (approximately 100 basis points), and seasonality (50 basis points from summer products). The headline 15% has a one-time OPEX benefit that management estimated at about 3 percentage points, making the underlying 12% the durable run-rate. Management upgraded FY27 guidance to 150-200 basis points EBITDA margin improvement over FY26, versus the prior 100-basis-point-per-year framework.…
Why the margin moved: operating margin changed +6.9 percentage points on the year while gross margin changed −1.5 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.
As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.
FY26: 10.0%, the highest in a range of −290.0% to 10.0% over 6 years
- Operating margin 10.0%
| Quarter | Operating margin |
|---|---|
| FY21 | −290% |
| FY22 | 1.2% |
| FY23 | 1.5% |
| FY24 | 7% |
| FY25 | 3.4% |
| FY26 | 10% |
Change on the year before (points)
- Change on the year before (points) +6.6 pts
| Quarter | Change on the year before (points) |
|---|---|
| FY21 | – |
| FY22 | +291.2 pts |
| FY23 | +0.3 pts |
| FY24 | +5.5 pts |
| FY25 | −3.6 pts |
| FY26 | +6.6 pts |
Jun 2026: operating margin 15.0% (+7.0 points on a year earlier)
- Operating margin 15.0%
| Quarter | Operating margin |
|---|---|
| Sep 2023 | 8% |
| Dec 2023 | 7% |
| Mar 2024 | 7% |
| Jun 2024 | 8% |
| Sep 2024 | −7% |
| Dec 2024 | 5% |
| Mar 2025 | 5% |
| Jun 2025 | 8% |
| Sep 2025 | 9% |
| Dec 2025 | 11% |
| Mar 2026 | 12% |
| Jun 2026 | 15% |
Change on a year earlier (points)
- Change on a year earlier (points) +7.0 pts
| Quarter | Change on a year earlier (points) |
|---|---|
| Sep 2023 | – |
| Dec 2023 | +4.0 pts |
| Mar 2024 | +7.8 pts |
| Jun 2024 | +2.0 pts |
| Sep 2024 | −15.0 pts |
| Dec 2024 | −2.0 pts |
| Mar 2025 | −2.0 pts |
| Jun 2025 | 0.0 pts |
| Sep 2025 | +16.0 pts |
| Dec 2025 | +6.0 pts |
| Mar 2026 | +7.0 pts |
| Jun 2026 | +7.0 pts |
Watch next
- Metric
- Operating Leverage Delivering, OPM Expanded Five…
- Threshold
- Q2 FY27 OPM falls below 9% despite price increases, indicating packaging inflation is overwhelming the operating leverage and exposing the headline margin as unsustainable.
- Which result
- the next result
Is Honasa Consumer's profit turning into cash?
Over the last 3 years, 124% of Honasa Consumer Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹141 Cr of operating cash against ₹200 Cr of profit.
The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.
After ₹231 Cr of spending on assets, free cash was −₹90.0 Cr: it spent more than its operations brought in.
Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.
FY26: operating cash ₹141 Cr against profit ₹200 Cr; 124% of 3 years' profit came in as cash
- Operating cash ₹141
- Net profit ₹200
- Free cash −₹90
| Quarter | Operating cash | Net profit | Free cash |
|---|---|---|---|
| FY21 | ₹30 | −₹1,332 | – |
| FY22 | ₹45 | ₹14 | – |
| FY23 | −₹52 | −₹151 | ₹15 |
| FY24 | ₹235 | ₹111 | ₹157 |
| FY25 | ₹102 | ₹73 | ₹54 |
| FY26 | ₹141 | ₹200 | −₹90 |
FY26: operating cash was 71% of profit (124% over three years)
- Operating cash as % of profit 71%
- Break-even line 100%
| Quarter | Operating cash as % of profit | Break-even line |
|---|---|---|
| FY21 | – | 100% |
| FY22 | 300% | 100% |
| FY23 | – | 100% |
| FY24 | 212% | 100% |
| FY25 | 140% | 100% |
| FY26 | 71% | 100% |
Why 124% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle.
What to look at next: the bigger use of cash is spending on new assets, at 3.0× depreciation over three years. The next section checks what that spending is building.
Where does Honasa Consumer's cash go?
Honasa Consumer Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −71 days in FY26, up from −80 days in FY21. It spent ₹357 Cr on assets over the last 3 years. Customers take 30 days to pay, and stock sits for 92 days on average.
Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.
At FY26 sales of ₹2,392 Cr, each day of that cycle ties up about ₹6.6 Cr, so roughly −₹465 Cr is tied up in the business at any time.
FY26: customers took 30 days to pay and stock sat for 92 days, about 3.0 months of sales sitting as stock, for a full cycle of −71 days, longer than FY21's −80.
The full loop: cash goes out to suppliers and production on day 0. Stock sits for 92 days. Customers pay about 30 days after that. Suppliers are paid at 193 days. Together that makes the −71-day cycle.
FY26: a −71-day cash cycle, +9 days compared with FY21
- Cash cycle −71d
- Inventory days 92d
- Debtor days 30d
- Payable days 193d
| Quarter | Cash cycle | Inventory days | Debtor days | Payable days |
|---|---|---|---|---|
| FY21 | −80d | 114d | 27d | 221d |
| FY22 | −105d | 86d | 28d | 219d |
| FY23 | −30d | 99d | 32d | 161d |
| FY24 | −71d | 83d | 30d | 185d |
| FY25 | −84d | 105d | 23d | 212d |
| FY26 | −71d | 92d | 30d | 193d |
Spending on assets: ₹357 Cr over the last 3 years, against ₹120 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹0.0 Cr (FY26): assets paid for that are not earning yet.
FY26: capex ₹231 Cr, work in progress ₹0.0 Cr, a build-out
- Capex ₹231
- Work-in-progress ₹0.0
| Quarter | Capex | Work-in-progress |
|---|---|---|
| FY22 | ₹330 | ₹2 |
| FY23 | −₹67 | ₹0 |
| FY24 | ₹78 | ₹0 |
| FY25 | ₹48 | ₹0 |
| FY26 | ₹231 | ₹0 |
In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.
What is Honasa Consumer's P/E ratio, and how does it compare with its own history?
Honasa Consumer Ltd's P/E is 62.3×, near the low end of its own history: it has been lower only 16% of the time. Its usual P/E (the middle reading) is 95.4×, over 3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.
P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.
The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹7.65.
Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.
P/E 62.3× against a usual 95.4×: near the low end of its own history: it has been lower only 16% of the time
- P/E 62.2×
- Median 95.4×
| Week | P/E | Median |
|---|---|---|
| 12 Nov 2023 | 154.6× | 95.4× |
| 17 Nov 2023 | 154.6× | 95.4× |
| 24 May 2024 | 124.9× | 95.4× |
| 31 May 2024 | 128.1× | 95.4× |
| 7 Jun 2024 | 127.2× | 95.4× |
| 14 Jun 2024 | 124.6× | 95.4× |
| 21 Jun 2024 | 130.5× | 95.4× |
| 28 Jun 2024 | 125.6× | 95.4× |
| 5 Jul 2024 | 139.9× | 95.4× |
| 12 Jul 2024 | 137.9× | 95.4× |
| 19 Jul 2024 | 134.1× | 95.4× |
| 26 Jul 2024 | 135.1× | 95.4× |
| 2 Aug 2024 | 132.0× | 95.4× |
| 9 Aug 2024 | 121.8× | 95.4× |
| 16 Aug 2024 | 119.4× | 95.4× |
| 23 Aug 2024 | 120.5× | 95.4× |
| 30 Aug 2024 | 130.0× | 95.4× |
| 6 Sep 2024 | 136.8× | 95.4× |
| 13 Sep 2024 | 127.2× | 95.4× |
| 20 Sep 2024 | 123.0× | 95.4× |
| 27 Sep 2024 | 117.7× | 95.4× |
| 4 Oct 2024 | 110.1× | 95.4× |
| 11 Oct 2024 | 110.7× | 95.4× |
| 18 Oct 2024 | 109.0× | 95.4× |
| 25 Oct 2024 | 103.0× | 95.4× |
| 1 Nov 2024 | 101.8× | 95.4× |
| 8 Nov 2024 | 98.3× | 95.4× |
| 14 Nov 2024 | 154.6× | 95.4× |
| 22 Nov 2024 | 93.5× | 95.4× |
| 29 Nov 2024 | 109.8× | 95.4× |
| 6 Dec 2024 | 110.6× | 95.4× |
| 13 Dec 2024 | 103.3× | 95.4× |
| 20 Dec 2024 | 108.1× | 95.4× |
| 27 Dec 2024 | 102.8× | 95.4× |
| 3 Jan 2025 | 105.1× | 95.4× |
| 10 Jan 2025 | 100.6× | 95.4× |
| 17 Jan 2025 | 102.7× | 95.4× |
| 24 Jan 2025 | 101.5× | 95.4× |
| 1 Feb 2025 | 95.4× | 95.4× |
| 7 Feb 2025 | 89.0× | 95.4× |
| 14 Feb 2025 | 92.3× | 95.4× |
| 21 Feb 2025 | 93.0× | 95.4× |
| 28 Feb 2025 | 89.5× | 95.4× |
| 7 Mar 2025 | 93.1× | 95.4× |
| 13 Mar 2025 | 87.2× | 95.4× |
| 21 Mar 2025 | 91.8× | 95.4× |
| 28 Mar 2025 | 96.4× | 95.4× |
| 4 Apr 2025 | 97.4× | 95.4× |
| 11 Apr 2025 | 96.5× | 95.4× |
| 17 Apr 2025 | 97.2× | 95.4× |
| 25 Apr 2025 | 96.4× | 95.4× |
| 2 May 2025 | 105.0× | 95.4× |
| 9 May 2025 | 102.6× | 95.4× |
| 16 May 2025 | 108.8× | 95.4× |
| 23 May 2025 | 147.3× | 95.4× |
| 30 May 2025 | 141.6× | 95.4× |
| 6 Jun 2025 | 143.2× | 95.4× |
| 13 Jun 2025 | 137.4× | 95.4× |
| 20 Jun 2025 | 134.5× | 95.4× |
| 27 Jun 2025 | 138.9× | 95.4× |
| 4 Jul 2025 | 132.4× | 95.4× |
| 11 Jul 2025 | 131.7× | 95.4× |
| 18 Jul 2025 | 128.2× | 95.4× |
| 25 Jul 2025 | 118.0× | 95.4× |
| 1 Aug 2025 | 121.5× | 95.4× |
| 8 Aug 2025 | 115.8× | 95.4× |
| 14 Aug 2025 | 123.2× | 95.4× |
| 22 Aug 2025 | 132.3× | 95.4× |
| 29 Aug 2025 | 129.2× | 95.4× |
| 5 Sep 2025 | 132.2× | 95.4× |
| 12 Sep 2025 | 132.2× | 95.4× |
| 19 Sep 2025 | 133.0× | 95.4× |
| 26 Sep 2025 | 125.5× | 95.4× |
| 3 Oct 2025 | 128.8× | 95.4× |
| 10 Oct 2025 | 128.8× | 95.4× |
| 17 Oct 2025 | 123.2× | 95.4× |
| 24 Oct 2025 | 121.9× | 95.4× |
| 31 Oct 2025 | 125.4× | 95.4× |
| 7 Nov 2025 | 120.9× | 95.4× |
| 14 Nov 2025 | 72.2× | 95.4× |
| 21 Nov 2025 | 70.9× | 95.4× |
| 28 Nov 2025 | 71.7× | 95.4× |
| 5 Dec 2025 | 68.0× | 95.4× |
| 12 Dec 2025 | 64.7× | 95.4× |
| 19 Dec 2025 | 66.9× | 95.4× |
| 26 Dec 2025 | 66.4× | 95.4× |
| 2 Jan 2026 | 72.4× | 95.4× |
| 9 Jan 2026 | 71.8× | 95.4× |
| 16 Jan 2026 | 70.7× | 95.4× |
| 23 Jan 2026 | 67.2× | 95.4× |
| 1 Feb 2026 | 68.3× | 95.4× |
| 6 Feb 2026 | 70.6× | 95.4× |
| 13 Feb 2026 | 61.6× | 95.4× |
| 17 Feb 2026 | 61.3× | 95.4× |
| 20 Feb 2026 | 61.4× | 95.4× |
| 27 Feb 2026 | 61.9× | 95.4× |
| 6 Mar 2026 | 59.4× | 95.4× |
| 13 Mar 2026 | 54.9× | 95.4× |
| 20 Mar 2026 | 59.1× | 95.4× |
| 27 Mar 2026 | 60.9× | 95.4× |
| 2 Apr 2026 | 62.1× | 95.4× |
| 7 Apr 2026 | 62.5× | 95.4× |
| 10 Apr 2026 | 70.4× | 95.4× |
| 17 Apr 2026 | 70.5× | 95.4× |
| 24 Apr 2026 | 71.2× | 95.4× |
| 29 Apr 2026 | 70.8× | 95.4× |
| 30 Apr 2026 | 69.5× | 95.4× |
| 8 May 2026 | 73.4× | 95.4× |
| 15 May 2026 | 72.3× | 95.4× |
| 22 May 2026 | 61.4× | 95.4× |
| 29 May 2026 | 65.0× | 95.4× |
| 4 Jun 2026 | 66.6× | 95.4× |
| 5 Jun 2026 | 66.5× | 95.4× |
| 9 Jun 2026 | 65.2× | 95.4× |
| 10 Jun 2026 | 66.2× | 95.4× |
| 12 Jun 2026 | 66.1× | 95.4× |
| 17 Jun 2026 | 64.1× | 95.4× |
| 19 Jun 2026 | 66.9× | 95.4× |
| 24 Jun 2026 | 66.5× | 95.4× |
| 25 Jun 2026 | 66.9× | 95.4× |
| 1 Jul 2026 | 74.5× | 95.4× |
| 3 Jul 2026 | 74.0× | 95.4× |
| 10 Jul 2026 | 75.6× | 95.4× |
| 17 Jul 2026 | 74.8× | 95.4× |
| 24 Jul 2026 | 71.9× | 95.4× |
| 31 Jul 2026 | 72.0× | 95.4× |
| 7 Aug 2026 | 76.5× | 95.4× |
| 14 Aug 2026 | 64.9× | 95.4× |
| 21 Aug 2026 | 62.2× | 95.4× |
| 28 Aug 2026 | 60.8× | 95.4× |
| 4 Sep 2026 | 60.8× | 95.4× |
| 11 Sep 2026 | 60.8× | 95.4× |
| 18 Sep 2026 | 61.9× | 95.4× |
| 25 Sep 2026 | 60.1× | 95.4× |
| 28 Sep 2026 | 60.0× | 95.4× |
| 1 Oct 2026 | 55.3× | 95.4× |
| 9 Oct 2026 | 60.5× | 95.4× |
| 16 Oct 2026 | 58.4× | 95.4× |
| 23 Oct 2026 | 55.8× | 95.4× |
| 30 Oct 2026 | 57.1× | 95.4× |
| 5 Nov 2026 | 62.2× | 95.4× |
Earnings per share, 12 months
- Earnings per share, 12 months ₹8
| Week | Earnings per share, 12 months |
|---|---|
| 12 Nov 2023 | – |
| 17 Nov 2023 | ₹1 |
| 24 May 2024 | ₹1 |
| 31 May 2024 | ₹1 |
| 7 Jun 2024 | ₹1 |
| 14 Jun 2024 | ₹1 |
| 21 Jun 2024 | ₹1 |
| 28 Jun 2024 | ₹4 |
| 5 Jul 2024 | ₹4 |
| 12 Jul 2024 | ₹4 |
| 19 Jul 2024 | ₹4 |
| 26 Jul 2024 | ₹4 |
| 2 Aug 2024 | ₹4 |
| 9 Aug 2024 | ₹4 |
| 16 Aug 2024 | ₹4 |
| 23 Aug 2024 | ₹4 |
| 30 Aug 2024 | ₹4 |
| 6 Sep 2024 | ₹4 |
| 13 Sep 2024 | ₹4 |
| 20 Sep 2024 | ₹4 |
| 27 Sep 2024 | ₹4 |
| 4 Oct 2024 | ₹4 |
| 11 Oct 2024 | ₹4 |
| 18 Oct 2024 | ₹4 |
| 25 Oct 2024 | ₹4 |
| 1 Nov 2024 | ₹4 |
| 8 Nov 2024 | ₹4 |
| 14 Nov 2024 | ₹4 |
| 22 Nov 2024 | ₹4 |
| 29 Nov 2024 | ₹4 |
| 6 Dec 2024 | ₹4 |
| 13 Dec 2024 | ₹4 |
| 20 Dec 2024 | ₹4 |
| 27 Dec 2024 | ₹2 |
| 3 Jan 2025 | ₹2 |
| 10 Jan 2025 | ₹2 |
| 17 Jan 2025 | ₹2 |
| 24 Jan 2025 | ₹2 |
| 1 Feb 2025 | ₹2 |
| 7 Feb 2025 | ₹2 |
| 14 Feb 2025 | ₹2 |
| 21 Feb 2025 | ₹2 |
| 28 Feb 2025 | ₹2 |
| 7 Mar 2025 | ₹2 |
| 13 Mar 2025 | ₹2 |
| 21 Mar 2025 | ₹2 |
| 28 Mar 2025 | ₹2 |
| 4 Apr 2025 | ₹2 |
| 11 Apr 2025 | ₹2 |
| 17 Apr 2025 | ₹2 |
| 25 Apr 2025 | ₹2 |
| 2 May 2025 | ₹2 |
| 9 May 2025 | ₹2 |
| 16 May 2025 | ₹2 |
| 23 May 2025 | ₹2 |
| 30 May 2025 | ₹2 |
| 6 Jun 2025 | ₹2 |
| 13 Jun 2025 | ₹2 |
| 20 Jun 2025 | ₹2 |
| 27 Jun 2025 | ₹2 |
| 4 Jul 2025 | ₹2 |
| 11 Jul 2025 | ₹2 |
| 18 Jul 2025 | ₹2 |
| 25 Jul 2025 | ₹2 |
| 1 Aug 2025 | ₹2 |
| 8 Aug 2025 | ₹2 |
| 14 Aug 2025 | ₹2 |
| 22 Aug 2025 | ₹2 |
| 29 Aug 2025 | ₹2 |
| 5 Sep 2025 | ₹2 |
| 12 Sep 2025 | ₹2 |
| 19 Sep 2025 | ₹2 |
| 26 Sep 2025 | ₹2 |
| 3 Oct 2025 | ₹2 |
| 10 Oct 2025 | ₹2 |
| 17 Oct 2025 | ₹2 |
| 24 Oct 2025 | ₹2 |
| 31 Oct 2025 | ₹2 |
| 7 Nov 2025 | ₹2 |
| 14 Nov 2025 | ₹2 |
| 21 Nov 2025 | ₹2 |
| 28 Nov 2025 | ₹2 |
| 5 Dec 2025 | ₹2 |
| 12 Dec 2025 | ₹2 |
| 19 Dec 2025 | ₹2 |
| 26 Dec 2025 | ₹4 |
| 2 Jan 2026 | ₹4 |
| 9 Jan 2026 | ₹4 |
| 16 Jan 2026 | ₹4 |
| 23 Jan 2026 | ₹4 |
| 1 Feb 2026 | ₹4 |
| 6 Feb 2026 | ₹4 |
| 13 Feb 2026 | ₹4 |
| 17 Feb 2026 | ₹4 |
| 20 Feb 2026 | ₹4 |
| 27 Feb 2026 | ₹4 |
| 6 Mar 2026 | ₹4 |
| 13 Mar 2026 | ₹4 |
| 20 Mar 2026 | ₹4 |
| 27 Mar 2026 | ₹5 |
| 2 Apr 2026 | ₹5 |
| 7 Apr 2026 | ₹5 |
| 10 Apr 2026 | ₹5 |
| 17 Apr 2026 | ₹5 |
| 24 Apr 2026 | ₹5 |
| 29 Apr 2026 | ₹5 |
| 30 Apr 2026 | ₹5 |
| 8 May 2026 | ₹5 |
| 15 May 2026 | ₹5 |
| 22 May 2026 | ₹5 |
| 29 May 2026 | ₹5 |
| 4 Jun 2026 | ₹5 |
| 5 Jun 2026 | ₹5 |
| 9 Jun 2026 | ₹5 |
| 10 Jun 2026 | ₹5 |
| 12 Jun 2026 | ₹5 |
| 17 Jun 2026 | ₹5 |
| 19 Jun 2026 | ₹5 |
| 24 Jun 2026 | ₹5 |
| 25 Jun 2026 | ₹6 |
| 1 Jul 2026 | ₹6 |
| 3 Jul 2026 | ₹6 |
| 10 Jul 2026 | ₹6 |
| 17 Jul 2026 | ₹6 |
| 24 Jul 2026 | ₹6 |
| 31 Jul 2026 | ₹6 |
| 7 Aug 2026 | ₹6 |
| 14 Aug 2026 | ₹6 |
| 21 Aug 2026 | ₹6 |
| 28 Aug 2026 | ₹6 |
| 4 Sep 2026 | ₹6 |
| 11 Sep 2026 | ₹6 |
| 18 Sep 2026 | ₹6 |
| 25 Sep 2026 | ₹6 |
| 28 Sep 2026 | ₹8 |
| 1 Oct 2026 | ₹8 |
| 9 Oct 2026 | ₹8 |
| 16 Oct 2026 | ₹8 |
| 23 Oct 2026 | ₹8 |
| 30 Oct 2026 | ₹8 |
| 5 Nov 2026 | ₹8 |
PEG 3.39: above 1.0, so the P/E is bigger than the earnings growth rate
- PEG 3.39×
- PEG = 1.0 1.00×
| Quarter | PEG | PEG = 1.0 |
|---|---|---|
| Q4 FY24 | 0.55× | 1.00× |
| Q1 FY25 | 6.00× | 1.00× |
| Q2 FY25 | 3.37× | 1.00× |
| Q3 FY25 | 1.73× | 1.00× |
| Q4 FY25 | 4.86× | 1.00× |
| Q1 FY26 | 4.55× | 1.00× |
| Q2 FY26 | 1.10× | 1.00× |
| Q3 FY26 | 0.95× | 1.00× |
| Q4 FY26 | 0.90× | 1.00× |
| Q1 FY27 | 3.39× | 1.00× |
Why the multiple is where it is: over the past year earnings per share moved +174.6% while the price moved +75.9%. Earnings did better than the price, which pulled the multiple down within its own range.
Where the price move came from: over 3 years the price moved +14.5% a year; about +133.3% a year came from earnings growth and about −118.8 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.
In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.
What growth does the Honasa Consumer share price assume?
Worked out from its price on 24 August 2026, Honasa Consumer Ltd's share price assumed profit growth of about 31.0% a year. Today its P/E is 62.3×, lower than 84% of its own last 3 years.
This works the share price backwards. It asks one question: what yearly profit growth does the price already assume? The answer is the growth rate at which eleven years of profit (six years of growth, then five years of slowing) add up to that day's market value, after each year is discounted at 11%.
This is a one-day reading, taken on 24 August 2026. Every other number on this page, the multiple included, uses the latest price as of 5 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements.
Is the Honasa Consumer business getting better or worse?
Honasa Consumer Ltd's business is getting better. Profit growth hit its low 8 quarters ago at −20.0% and has recovered to +119.5% (from single-quarter figures), with ROCE rising at 23.6%. This is based on 12 quarters of 3 measures, with some gaps.
Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.
Growth year by year: revenue +15.7% in FY26, profit +174.0%
- Revenue growth 15.7%
| Quarter | Revenue growth |
|---|---|
| FY21 | – |
| FY22 | 105% |
| FY23 | 58.3% |
| FY24 | 28.6% |
| FY25 | 7.7% |
| FY26 | 15.7% |
Profit growth, EPS growth
- Profit growth 174%
- EPS growth 174.6%
| Quarter | Profit growth | EPS growth |
|---|---|---|
| FY21 | – | – |
| FY22 | – | – |
| FY23 | −300% | −300% |
| FY24 | – | – |
| FY25 | −34.2% | −35.1% |
| FY26 | 174% | 174.6% |
Three growth lines over twelve quarters: revenue accelerating, profit accelerating
- Revenue 21.1%
| Quarter | Revenue |
|---|---|
| Sep 2023 | – |
| Dec 2023 | – |
| Mar 2024 | 28.6% |
| Jun 2024 | 22.2% |
| Sep 2024 | 14.2% |
| Dec 2024 | 9.2% |
| Mar 2025 | 7.8% |
| Jun 2025 | 5% |
| Sep 2025 | 10.6% |
| Dec 2025 | 13.2% |
| Mar 2026 | 15.7% |
| Jun 2026 | 21.1% |
Profit, EPS
- Profit 119.5%
- EPS 237%
| Quarter | Profit | EPS |
|---|---|---|
| Sep 2023 | 70.6% | – |
| Dec 2023 | 271.4% | – |
| Mar 2024 | – | – |
| Jun 2024 | 60% | – |
| Sep 2024 | −165.5% | – |
| Dec 2024 | 0% | – |
| Mar 2025 | −16.7% | −61.4% |
| Jun 2025 | 2.5% | −55.8% |
| Sep 2025 | – | 68% |
| Dec 2025 | 92.3% | 98.8% |
| Mar 2026 | 176% | 174.6% |
| Jun 2026 | 119.5% | 237% |
ROCE: the return line, worked out each quarter
- ROCE 23.6%
| Quarter | ROCE |
|---|---|
| Sep 2023 | −8.5% |
| Dec 2023 | −5.5% |
| Mar 2024 | 16.4% |
| Jun 2024 | 18.4% |
| Sep 2024 | 11.3% |
| Dec 2024 | 10.7% |
| Mar 2025 | 8% |
| Jun 2025 | 8.3% |
| Sep 2025 | 13.8% |
| Dec 2025 | 16.7% |
| Mar 2026 | 19.1% |
| Jun 2026 | 23.6% |
Why it matters: a lasting rise from a low is what this page is built to show.
One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.
This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution.
Compound annual growth rate (%)
Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.
| Measure | 1yr | 3yr | 5yr | 10yr |
|---|---|---|---|---|
| Revenue | +15.7% | +17.0% | +39.1% | — |
| Profit | +174.0% | — | — | — |
| EPS | +174.6% | — | — | — |
| Share price | +75.9% | +14.5% | — | — |
What is the Honasa Consumer story, and has it been checked?
Honasa Consumer Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: RECOVERY CONFIRMED.
NOT YET CHECKED
The test written in advance. Management Narrative Consistency, Seven Flags Across Five Concalls. Measured by: Management Narrative Consistency, Seven Flags Across Five Concalls by the next result.
What the company does. Jun 2026 revenue Rs756 Cr with OPM 15% and PAT Rs90 Cr marks the strongest quarter in the company's listed history; however, management confirmed an unquantified one-time cost benefit, making the underlying margin closer to 12% once that is stripped out. Derma Co crossed Rs1,000 Cr in scale and became Honasa's second billion-rupee brand; younger brands collectively grew above 40%; the channel-quality concern from the Project Neev era has been resolved with distributor collections at their highest-ever level and inventory below 30 days.
The key numbers to watch, and the level that would change the picture
| Measure | Now | Why it matters | What to watch |
|---|---|---|---|
| Operating Leverage Delivering, OPM… | HIGH | OPM rose from 5% in Mar-25 to 15% in Jun-26; the underlying margin after the one-time benefit is 12%, still a strong improvement… | Q2 FY27 OPM falls below 9% despite price increases, indicating packaging inflation is overwhelming the operating leverage and exposing the headline… |
| Derma Co Reaches Rs1,000 Cr Scale, Second… | HIGH | Derma Co crossed Rs1,000 Cr in Q1 FY27 and is Honasa's second brand at that scale; face cleansers alone exceeded Rs200 Cr… | Derma Co's EBITDA margin falls below double-digit levels as it expands offline distribution, signalling that the offline model is diluting rather… |
| Younger Brands Portfolio Growing Above 40% | MEDIUM | Younger brands collectively grew above 40% in Q1 FY27; excluding BTM Ventures, growth remained above 30%; portfolio… | Younger brands growth decelerates below 20% for two consecutive quarters as the post-refresh and post-acquisition momentum normalizes, reducing the… |
Everything further down this page is evidence for or against these.
FY26-Q2FY27-Q1
What the surface reading misses. The surface reading is: The reported return ratios indicate profitable use of capital and equity. The research reads it further: These ratios summarize current profitability, but their durability depends on whether the margin profile can persist.
- 1 · Operating leveragebuilding
- 2 · Value-added mixquiet
- 3 · Management changequiet
- 4 · Paying down debtquiet
- 5 · Regulatory approvalquiet
- 6 · Order-book winsquiet
- 7 · Consolidationquiet
- 8 · Demerger or value unlockquiet
- 9 · Buybackquiet
- 10 · New geographiesquiet
- 11 · More business from existing customersquiet
- 12 · New product launchquiet
- 13 · Mandatory normsquiet
- 14 · A bigger market to servebuilding
- 15 · Market-share gainsbuilding
- 16 · Asset qualityquiet
Lever 1 · Operating leverage: building. OPM rose from 5% in Mar-25 to 15% in Jun-26; the underlying margin after the one-time benefit is 12%, still a strong improvement from the trough. What proves it keeps working: Operating Leverage Delivering, OPM Expanded Five Consecutive Quarters. It stops working if Q2 FY27 OPM falls below 9% despite price increases, indicating packaging inflation is overwhelming the operating leverage and exposing the headline margin as unsustainable.
Lever 15 · Market-share gains: building. Derma Co crossed Rs1,000 Cr in Q1 FY27 and is Honasa's second brand at that scale; face cleansers alone exceeded Rs200 Cr run-rate. What proves it keeps working: Derma Co Reaches Rs1,000 Cr Scale, Second Flagship Brand Confirmed. It stops working if Derma Co's EBITDA margin falls below double-digit levels as it expands offline distribution, signalling that the offline model is diluting rather than adding to the profitability of the brand.
Lever 14 · A bigger market to serve: building. Younger brands collectively grew above 40% in Q1 FY27; excluding BTM Ventures, growth remained above 30%; portfolio diversification beyond Mamaearth is confirmed. What proves it keeps working: Younger Brands Portfolio Growing Above 40%. It stops working if Younger brands growth decelerates below 20% for two consecutive quarters as the post-refresh and post-acquisition momentum normalizes, reducing the portfolio's growth diversification below a meaningful level.
Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
The whole page in one table. Each row links to its section.
Did Honasa Consumer management deliver what it promised?
What Honasa Consumer Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
Staze Category Positioning Appears to Have Changed · 13 August 2026. The February 2026 call positioned Staze as a color-cosmetics brand, while the August 2026 Q&A appears to identify Staze as the starting point for the company's fragrance strategy. Because the latest transcript marks the brand name as unclear, management should clarify whether this is the same brand or a separate launch, as the category and strategic role are materially different.
Contradictory Consolidation Timeline for Dr. Sheth's · 21 May 2026. In the Nov 2025 and Feb 2026 calls, management repeatedly cited Dr. Sheth's as an established, performing brand within their existing young brands portfolio. However, in the May 2026 call, management claimed Dr. Sheth's was newly acquired and in its 'first quarter of consolidation' to explain a 40% growth in the younger brands segment, materially misrepresenting the brand's organic history.
Inconsistent Brand Attribution for Recent Acquisition · 21 May 2026. The Feb 2026 call highlighted the acquisition of 'Reginald Men,' describing it as a South India-focused men's sunscreen brand to capture the male skin care market. In the May 2026 call, when an analyst erroneously inquired about 'Dr. Sheth's for men' being acquired five months prior, management completely agreed with the premise and incorrectly attributed the exact strategic profile of Reginald Men to Dr. Sheth's.
Inconsistent EBITDA Margin Expansion Guidance · 12 February 2026. Management has provided fluctuating annual profitability improvement goals over three consecutive calls, moving from a range of 100-150 basis points in August 2025 to 50-100 basis points in November 2025, before settling on a flat 100 basis points in February 2026. This lack of a stable goal for operational leverage creates uncertainty regarding the long-term margin trajectory as the company scales. Later call (Feb 2026): “Our goal is to improve the margin profile by 100 basis points annually.”
Every quote above is taken word for word from the company’s own earnings calls.
How much does Honasa Consumer earn on its capital?
Honasa Consumer Ltd earned a ROCE of 19% in FY26. That is up from a low of 3% in FY23. Its return on capital used (ROIC) is 6.2 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 8.4% net margin and 1.14× asset turnover (sales divided by assets).
Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.
Why the return is what it is (FY26): a 8.4% net margin × 1.14× asset turnover × 1.49× leverage (assets divided by equity) ≈ 14.3% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed.
The key test, return on capital used minus the cost of capital: 18.2% − 12.0% = +6.2 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value.
The 18.2% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 16.4%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.
FY26: ROCE 19%, the climb back from FY23's 3%
- ROCE 19%
- ROIC (annual) 16.4%
- Cost of capital 12%
| Quarter | ROCE | ROIC (annual) | Cost of capital |
|---|---|---|---|
| FY22 | 5% | 1.1% | 12% |
| FY23 | 3% | −0.6% | 12% |
| FY24 | 16% | 18% | 12% |
| FY25 | 8% | 3% | 12% |
| FY26 | 19% | 16.4% | 12% |
Q4 FY26: ROCE 12.6% (last 12 months) against a 12.0% cost of capital
- ROCE (12 months) 12.6%
- ROIC (12 months) 17.2%
- Cost of capital 12.0%
| Quarter | ROCE (12 months) | ROIC (12 months) | Cost of capital |
|---|---|---|---|
| Q2 FY24 | 6.8% | – | 12% |
| Q3 FY24 | – | – | 12% |
| Q4 FY24 | 8.8% | 13.1% | 12% |
| Q1 FY25 | – | 19.5% | 12% |
| Q2 FY25 | 3.5% | 20.7% | 12% |
| Q3 FY25 | – | 6.5% | 12% |
| Q4 FY25 | 1.7% | 4% | 12% |
| Q1 FY26 | – | 1.7% | 12% |
| Q2 FY26 | 7% | −0.5% | 12% |
| Q3 FY26 | – | 10.6% | 12% |
| Q4 FY26 | 12.6% | 13.1% | 12% |
| Q1 FY27 | – | 17.2% | 12% |
Does Honasa Consumer have too much debt?
Honasa Consumer Ltd has total debt of ₹135 Cr against shareholder equity of ₹1,412 Cr as of Jun 2026, so its debt is 0.10× its equity, which is very little. Year by year, that ratio went from 0.15 in FY23 to 0.10 in FY26. So the returns on this page come from the business, not from borrowed money.
Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.
FY26: debt ₹135 Cr, 0.10× equity
- Total debt ₹135
| Quarter | Total debt |
|---|---|
| FY23 | ₹92 |
| FY24 | ₹131 |
| FY25 | ₹136 |
| FY26 | ₹135 |
Debt-to-equity
- Debt-to-equity 0.10×
| Quarter | Debt-to-equity |
|---|---|
| FY23 | 0.15× |
| FY24 | 0.12× |
| FY25 | 0.12× |
| FY26 | 0.10× |
Jun 2026: debt ₹135 Cr, debt-to-equity 0.10
- Total debt (quarterly) ₹135
| Quarter | Total debt (quarterly) |
|---|---|
| Sep 2023 | ₹119 |
| Dec 2023 | ₹119 |
| Mar 2024 | ₹131 |
| Jun 2024 | ₹131 |
| Sep 2024 | ₹139 |
| Dec 2024 | ₹139 |
| Mar 2025 | ₹136 |
| Jun 2025 | ₹136 |
| Sep 2025 | ₹142 |
| Dec 2025 | ₹142 |
| Mar 2026 | ₹135 |
| Jun 2026 | ₹135 |
Debt-to-equity
- Debt-to-equity 0.10×
| Quarter | Debt-to-equity |
|---|---|
| Sep 2023 | 0.18× |
| Dec 2023 | 0.18× |
| Mar 2024 | 0.12× |
| Jun 2024 | 0.12× |
| Sep 2024 | 0.12× |
| Dec 2024 | 0.12× |
| Mar 2025 | 0.12× |
| Jun 2025 | 0.12× |
| Sep 2025 | 0.11× |
| Dec 2025 | 0.11× |
| Mar 2026 | 0.10× |
| Jun 2026 | 0.10× |
What is the Honasa Consumer shareholding pattern?
Domestic institutions raised their stake in Honasa Consumer Ltd by 5.9 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 23.4% of the company. Foreign institutions moved −4.4 points over the same period, to 14.9%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.
Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.
Over the last two years: Domestic institutions: +5.9 points over 8 quarters, to 23.4%; Foreign institutions: −4.4 points over 8 quarters, to 14.9%; Promoters: +0.5 points over 8 quarters, to 35.5%.
Why the owners changed: foreign institutions moved −4.4 points and domestic institutions +5.9 points over 8 quarters, while promoters moved +0.5 points. One group of institutions took over shares from the other; it is not a change of mind by the people running the company.
Year ends: promoters +0.5 points from Mar 2024 to Mar 2026
- Promoters 35.54%
- Foreign inst. 13.74%
- Domestic inst. 19.24%
- Public 31.48%
| Quarter | Promoters | Foreign inst. | Domestic inst. | Public |
|---|---|---|---|---|
| Mar 2024 | 35.07% | 12.22% | 15.91% | 36.8% |
| Mar 2025 | 34.99% | 15.55% | 18.49% | 30.97% |
| Mar 2026 | 35.54% | 13.74% | 19.24% | 31.48% |
Domestic institutions raised their stake by 5.9 points over 8 quarters
- Promoters 35.47%
- Foreign inst. 14.91%
- Domestic inst. 23.37%
- Public 26.24%
| Quarter | Promoters | Foreign inst. | Domestic inst. | Public |
|---|---|---|---|---|
| Dec 2023 | 35.34% | 10.12% | 17.58% | 36.96% |
| Mar 2024 | 35.07% | 12.22% | 15.91% | 36.8% |
| Jun 2024 | 35.07% | 13.95% | 17.36% | 33.62% |
| Sep 2024 | 34.98% | 19.31% | 17.49% | 28.23% |
| Dec 2024 | 35.03% | 15.44% | 18.45% | 31.07% |
| Mar 2025 | 34.99% | 15.55% | 18.49% | 30.97% |
| Jun 2025 | 34.99% | 16.09% | 18.9% | 30.02% |
| Sep 2025 | 34.97% | 15.5% | 19.15% | 30.36% |
| Dec 2025 | 35.54% | 14.62% | 18.64% | 31.19% |
| Mar 2026 | 35.54% | 13.74% | 19.24% | 31.48% |
| Jun 2026 | 35.47% | 13.64% | 21.58% | 29.3% |
| Sep 2026 | 35.47% | 14.91% | 23.37% | 26.24% |
How far is Honasa Consumer from balance-sheet trouble?
For Honasa Consumer Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.
The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.
How does Honasa Consumer rank in its industry?
60.9 out of 100, rank 3 of 6 in New age - Platform - E-Retail, with 86% of the evidence available.
Honasa Consumer Ltd scores 60.9 out of 100 against the 6 companies it is compared with in New age - Platform - E-Retail, ranking 3. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.
The four parts add up to the total exactly: 26.5 + 15.3 + 7.4 + 11.7 = 60.9. This is the same number shown on the industry page; it is worked out once for the whole group and read here.
What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.
Which companies is Honasa Consumer compared with?
Honasa Consumer ranks 3 of 6 New age - Platform - E-Retail companies on the 4-Factor Sector Score, with 60.9 out of 100.
- 1GNG Electronics LtdEBGNG · leader · Most evidence points up · 80% evidence70.1out of 100
How the score adds up
Growth & earnings 22.2/35 · Revenue 35.6% · Profit 88.2% · Operating margin change 4 points · 100% evidenceCapital efficiency 17.9/25 · ROCE 20.2% · Operating margin 15% · 100% evidenceValuation 10.0/20 · P/E 50.1× · PEG — · 0% evidenceRelative strength 20.0/20 · Lead over its industry 24.4% · Lead over NIFTY 500 50.4% · 1 year 96.9% · 100% evidence · 12 of 12 weeks aheadExact sum: 22.2 + 17.9 + 10 + 20 = 70.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 2FSN E-Commerce Ventures LtdNYKAA · leader · Evidence leans up · 72% evidence63.1out of 100
How the score adds up
Growth & earnings 24.5/35 · Revenue 27.4% · Profit 100% · Operating margin change 2 points · 95% evidenceCapital efficiency 15.0/25 · ROCE 17.2% · Operating margin 9% · 76% evidenceValuation 10.0/20 · P/E 303× · PEG — · 0% evidenceRelative strength 13.6/20 · Lead over its industry 3.6% · Lead over NIFTY 500 28.7% · 1 year 41.5% · 100% evidence · 12 of 12 weeks aheadExact sum: 24.5 + 15 + 10 + 13.6 = 63.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 3Honasa Consumer Ltd this pageHONASA · turning · Evidence leans up · 86% evidence60.9out of 100
How the score adds up
Growth & earnings 26.5/35 · Revenue 21.1% · Profit 100% · Operating margin change 7 points · 88% evidenceCapital efficiency 15.3/25 · ROCE 19.2% · Operating margin 15% · 100% evidenceValuation 7.4/20 · P/E 62.3× · PEG 2.33 · 50% evidenceRelative strength 11.7/20 · Lead over its industry 2.4% · Lead over NIFTY 500 25.6% · 1 year 55.5% · 100% evidence · 8 of 12 weeks aheadExact sum: 26.5 + 15.3 + 7.4 + 11.7 = 60.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 4Lenskart Solutions LtdLENSKART · breaking out · Evidence leans up · 70% evidence57.5out of 100
How the score adds up
Growth & earnings 33.9/43.75 · Revenue 37.1% · Profit 81% · Operating margin change 2 points · 100% evidenceCapital efficiency 17.3/31.25 · ROCE 8.1% · Operating margin 22% · 100% evidenceValuation 6.3/25 · P/E 159× · PEG 3.22 · 50% evidenceRelative strength: no reading this week · its 20 points are shared across the other threeExact sum: 33.9 + 17.3 + 6.3 = 57.5 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. - 5Meesho LtdMEESHO · breaking out · Too little evidence to rank firmly · 51% evidence47.4out of 100
How the score adds up
Growth & earnings 34.6/43.75 · Revenue 39.8% · Profit 56.7% · Operating margin change 9 points · 74% evidenceCapital efficiency 0.3/31.25 · ROCE -40% · Operating margin -6% · 100% evidenceValuation 12.5/25 · P/E — · PEG — · 0% evidenceRelative strength: no reading this week · its 20 points are shared across the other threeExact sum: 34.6 + 0.3 + 12.5 = 47.4 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. - 6Brainbees Solutions LtdFIRSTCRY · quiet · Most evidence points down · 61% evidence26.9out of 100
How the score adds up
Growth & earnings 11.7/35 · Revenue 11.7% · Profit 29.2% · Operating margin change 1 points · 62% evidenceCapital efficiency 5.2/25 · ROCE 0.6% · Operating margin 2.8% · 76% evidenceValuation 10.0/20 · P/E — · PEG — · 0% evidenceRelative strength 0.0/20 · Lead over its industry -44.9% · Lead over NIFTY 500 -28.9% · 1 year -54.7% · 100% evidence · 0 of 12 weeks aheadExact sum: 11.7 + 5.2 + 10 + 0 = 26.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.
Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.
The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.
Related companies: New age - Platform - E-Retail, all 6 compared on one page.
Which companies are close to Honasa Consumer in size?
Honasa Consumer is the 4th largest of 6 New age - Platform - E-Retail companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Lenskart Solutions, Meesho and FSN E-Commerce Ventures. Just below it: GNG Electronics and Brainbees Solutions.
New age - Platform - E-Retail companies close in size
- Lenskart Solutions Ltd ₹1,24,708 crore
- Meesho Ltd ₹1,08,076 crore
- FSN E-Commerce Ventures Ltd ₹1,00,463 crore
- Honasa Consumer Ltd ₹15,718 crore
- GNG Electronics Ltd ₹8,318 crore
- Brainbees Solutions Ltd ₹8,236 crore
All 6 New age - Platform - E-Retail companies, largest first
Companies close in size in other industries
- JSW Cement Ltd ₹15,747 crore · Cement
- Sumitomo Chemical India Ltd ₹15,728 crore · Pesticides/Agrochemicals
- Honasa Consumer Ltd ₹15,718 crore
- Emami Ltd ₹15,703 crore · FMCG - Personal Care
- PVR Inox Ltd ₹15,543 crore · Entertainment & Media
What else do people ask about Honasa Consumer?
What were Honasa Consumer's latest quarterly results?
Honasa Consumer Ltd reported revenue of ₹756 Cr and net profit of ₹90.0 Cr for the Jun 2026 quarter. Revenue rose 27.1% and profit rose 119.5% compared with a year earlier. Earnings per share were ₹2.77.
The operating margin was 15.0%, 7.0 percentage points higher than a year earlier (as of 5 November 2026).
What is Honasa Consumer's market cap?
Honasa Consumer Ltd's market capitalisation is ₹15,718 Cr at a share price of ₹481.75. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 5 November 2026).
How is Honasa Consumer performing?
Honasa Consumer Ltd's share price has been rising for 30 weeks. In its latest quarter, revenue rose 27.1% and profit rose 119.5% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 5 weeks running (as of 5 November 2026).
Will Honasa Consumer's share price go up?
This page does not forecast Honasa Consumer Ltd's share price. What it shows instead: the share price is ₹481.75, and it has been rising for 30 weeks. Its P/E of 62.3× is higher than 16% of its own last 3 years (as of 5 November 2026).
Who owns Honasa Consumer?
Promoters own 35.5% of Honasa Consumer Ltd, foreign institutions 14.9%, domestic institutions 23.4% and the public 26.2% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 5.9 percentage points over 8 quarters (as of 5 November 2026).
Does Honasa Consumer have too much debt?
No, Honasa Consumer Ltd has little debt: its debt is 0.10× its equity, and its operating profit is 18 times its interest bill. FY26 borrowings were ₹135 Cr against equity of ₹1,411 Cr.
So the returns on this page come from the business, not borrowed money (as of 5 November 2026).
Where is Honasa Consumer in its business cycle?
Honasa Consumer Ltd's FY26 operating margin was 10.0%, against a 6-year range of −290.0% to 10.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 15.0%.
Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 5 November 2026).
What could break the Honasa Consumer story?
The main question: yearly earnings per share moved +174.6% while the share price moved +75.9%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 5 November 2026).
Is Honasa Consumer a stock worth studying right now?
What the numbers show: Honasa Consumer Ltd's results are improving, while its P/E is near the low end of its own history over 3 years, higher than only 16% of past readings. The main open question: whether the price catches up with earnings that have already grown.
Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 5 November 2026).
Is there a Honasa Consumer share price forecast for 2026?
What management itself guided: Company revenue yearly growth in the high teens over five years; FY27 growth expected above that framework.
What is changing at Honasa Consumer, from the latest results and calls: operating leverage delivering, operating margin expanded five consecutive quarters, derma co reaches ₹1,000 crore scale, second flagship brand confirmed and younger brands portfolio growing above 40%. What would change the story: Operating margins rolling back below 10% in two consecutive quarters without a recoverable cause, combined with younger-brand growth stalling below 20%, would signal the recovery is a margin-peak cycle rather than a durable platform expansion.
Where do these numbers come from?
Sector Alpha, written by code from the published numbers. Data as of 5 November 2026.
Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.
See the plain-text version of this page.
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