Honasa Consumer Ltd. reports strong financial performance in Q4 & FY24

Honasa Consumer Ltd. today announced its financial results for the quarter ending March 31, 2024 (Q4 FY24) and for the fiscal year FY24. The company delivered a strong performance, demonstrating resilience and agility in a competitive market.

Financial Performance

Honasa Consumer reported a revenue of INR 471 Cr in Q4 FY24, reflecting a 21.5% year-on-year growth (23.3% like-for-like). The company achieved its highest ever quarterly PAT of INR 30 Cr, driven by a 780 bps improvement in EBITDA margins year-on-year. For the entire FY24, revenue grew by 28.6% year-on-year (31.6% like-for-like).

Business Momentum

Honasa Consumer continued its growth trajectory in Q4 FY24, with Mamaearth emerging as a clear leader, outpacing its competitors with a threefold YoY GMV growth (CY23 vs. CY22). The Derma Co achieved an impressive annual run rate of INR 500 Cr+. The company remains focused on innovation, with new products contributing approximately 18% to FY24 revenue. Honasa’s House of Brands strategy is expanding its reach in various categories, including sunscreens where Honasa products hold a significant market share in online channels.

Data-Driven Innovation

Honasa Consumer prioritizes data-driven innovation to address evolving consumer needs. The company launched new products across its brand portfolio, including the Mamaearth Hibiscus Range, Mamaearth Beetroot Hydraful Sunscreen, The Derma Co 1% Hyaluronic Long Lasting Sunscreen, and Dr. Sheth’s Gulab & Glycolic Acid Serum.

Commitment to Sustainability

Honasa Consumer released its first-ever impact report, highlighting its dedication to ESG principles. The company’s purpose-driven initiatives are making a positive impact, with projects like Mamaearth’s Plant Goodness and The Derma Co’s Young Scientist program.

Looking Ahead

Honasa Consumer remains committed to delivering sustained growth and profitability for its stakeholders. The company is focused on creating a positive social impact and fostering a thriving workplace culture.