/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The beauty and personal care company has beaten its own margin target and posted standout volume growth. But with the action shifting beyond flagship Mamaearth, the durability of its momentum remains unproven.
When Honasa Consumer reassured shareholders exactly a year ago that it would almost triple its battered margins back to the 2023-24 level of 7.2%, the promise sounded overly ambitious given how the year had unfolded. In a surprising turn, however, the company has surpassed its own target, delivering an EBITDA margin of 9.2% for the first nine months of 2025-26.
That’s just one highlight of a very strong quarter, marked by standout revenue, profit, margin and category growth. Taken together, the performance reflects sharper execution on distribution and, at last, seeing the benefits of operating leverage kick in.
Anyone tracking …
Investors expect the FMCG major to get back on the growth track in the quarters ahead, but protecting margins at the same time could be tough.
Back-to-back strong quarters have reset expectations for the beauty and personal care company. Has the Mamaearth parent truly left its troubled past behind?
The hydration and energy supplements brand has cracked a niche and scaled fast. The harder task now is sustaining growth as the market matures.
