Honasa Consumer reports nearly 30% revenue growth in Q1 FY27, margins stay in double digits

Honasa Consumer Limited on Thursday disclosed a pre-results quarterly update for the quarter ended June 30, 2026 (Q1 FY27), projecting strong year-on-year revenue growth and sustained double-digit operating margins, ahead of the board’s formal approval of financial results.

The Mamaearth parent company said it expects consolidated revenue to grow around 30 per cent year-on-year on an adjusted basis during the quarter. On a reported basis, accounting for a change in revenue recognition policy by the Flipkart group affecting marketplace sellers like Honasa, the company expects YoY growth in the mid-twenties for Q1 FY27.

Mamaearth, the company’s flagship and largest brand, is expected to post high-teens revenue growth year-on-year, driven by improving consumer demand and an expanding offline distribution network. The company’s portfolio of younger brands — which includes The Derma Co., Aqualogica, BBlunt, Dr. Sheth’s, Staze, Lumineve and Reginald Men — is expected to grow at a faster clip, in the early forties percentage range.

The offline channel remained a key growth engine, with both General Trade and Modern Trade expected to sustain strong momentum, aided by wider direct distribution reach and stronger in-store execution. The online channel is also expected to deliver healthy growth during the period.

On profitability, the company guided for a double-digit operating margin profile in Q1 FY27, with operating leverage from scale cited as a key contributor.

The stock was trading at ₹463.15 on the NSE on Thursday, down 0.95 per cent intraday, though shares have rallied over 63 per cent year-to-date and 53 per cent over the past year. The company’s total market capitalisation stood at approximately ₹15,100 crore. The stock currently trades at a trailing P/E of 76.10.

Honasa said a detailed information update will be issued following board approval of the full Q1 FY27 financial results.