Honasa Consumer Ltd. today announced its financial results for the quarter ending December 31, 2023. Our business delivered a strong performance in Q3 with revenue growth of 28% and PAT growth of 264% YoY. The company has demonstrated market-beating growth and outperforming peers, underscoring its commitment to gain share of the beauty and personal care industry, led by innovation and strategic market expansion.
Commenting on the business performance of Q3 FY24, Varun Alagh, Chairman and CEO, HCL, said: "The Q3 results is a testimony of our deep understanding of the beauty market in India. As we move ahead to capture this market further, our innovation-driven brand building playbook uniquely positions us to identify many opportunities to continue our growth trajectory. Four out of six brands from our portfolio are already in the INR 150 Cr ARR club and we see this as a testimony of our capabilities. Having built color care with Mamaearth showcases our ability to build new categories and versatility of the brand. As we move forward, focus continues to be on purpose-based brand building, innovation and distribution expansion."
- Q3 FY24 consolidated revenue stood at INR 488 Cr.
- Q3 FY24 sales grew by 28% year-on-year
- Q3 FY24 consolidated EBITDA grew by 192% year-on-year at INR 34.5 Cr, increasing 397 bps YoY
- Q3 FY24 consolidated net profit grew by ~264% year-on-year at 26 Cr.
- Q3 Like-for-Like Revenue growth by 31% (excluding Just4Kids business)
- Delivered a strong YTD FY24 performance with 31% YoY growth with EBITDA growth at ~305%, delivering INR 104 Cr EBITDA; and PAT growth of ~642% at INR 80 Cr
- Business continues to be capital efficient, with a negative working capital cycle of minus 6 days
- Continued growth momentum in Q3 with improving profitability
- Built and scaled new categories like Mamaearth color cosmetics which is now a 150r+ ARR category
- With strong purpose driven initiatives, Mamaearth continues to be one of the most loved brands. Mamaearth grew its household penetration of facewash by 280bps and of shampoo by 110 bps in 2 years (MAT Sep-23 compared with MAT Sep-21)
- Younger brands continue to grow, with The Derma Co achieving EBITDA profitability
- 122 new products launched in CY23, with key innovations performing well. With data-led approach to innovation, Rosemary hair-care ranged scaling up, achieving an ARR of INR 50 Cr+ in ~6 months of launch
- Continue to strengthen and expand omnichannel distribution with over 1.7 lakh retail touchpoints, increasing distribution by 37% YoY. 9MYTD YoY offline market-share increase of 80 bps in face-washes and 40 bps in shampoos
- Growing Modern Trade presence, in 8000+ stores across 31 chains.
Shares of Honasa Consumer Limited was last trading in BSE at Rs. 432.75 as compared to the previous close of Rs. 417.95. The total number of shares traded during the day was 68054 in over 3323 trades.
The stock hit an intraday high of Rs. 436.70 and intraday low of 412.90. The net turnover during the day was Rs. 28631413.00.