HONASAFast Moving Consumer Goods

Honasa Consumer Limited

Personal Care · ISIN INE0J5401028 · BSE 544014 · NSE EQ · FV ₹10
Last price
₹460
-1.96%today
What this company does

Honasa Consumer Limited operates in Personal Care, part of the Fast Moving Consumer Goods sector. It booked ₹756 cr of revenue in its latest quarter (Q1 FY27) and kept 11.9% of sales as profit. It is the 8th largest of 9 Personal Care companies we track, by market value.

In the report:
68out of 100
Equitytale Health Score
Solid

Healthier than 68% of companies in Fast Moving Consumer Goods, on the 5 of 6 measures we could read for it. Each measure is ranked against the 27–149 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
45

At close. Not part of the score.

Profitability & returns84

How much profit it earns on the money it employs

Balance sheet88

How much it owes, and whether earnings cover the interest

Cash quality62

Whether reported profit actually arrives as cash

Valuation23

What today's price implies, against our models or its peers

Governance & risk65

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 27% vs last year
Profit up 118% vs last year
Strong 26% return on equity
Virtually debt-free
Turns profit into real cash
Watch-outs
! 4.2% of promoter stake pledged

What if I invest in HONASA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹460 -1.96%
latest close · 2026-09-17
52-wk low ₹43742 sessions so far52-wk high ₹510
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio41.5High
LowAverageHigh
P/B ratio10.64High
Below bookModerateHigh
EV / EBITDA28.1High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity25.6%Strong
WeakFairStrong ▸15%
Return on capital32.1%Strong
WeakFairStrong
Net margin11.9%Decent
ThinDecentStrong
EBITDA margin17.6%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover40.4×Strong
RiskyOkayStrong ▸5×
Current ratio1.69Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹15,024 cr
Book value
₹43
EPS
₹2.77
latest quarter
Net debt
₹-119 cr
more cash than debt
Enterprise value
₹14,904 cr
EBITDA
₹531 cr
annualised
EBIT
₹489 cr
annualised
Operating margin
16.2%
Return on assets
17.3%
Earnings yield
2.41%
P/S
4.97
Sales / share
₹92.6
Tax rate
24.2%
Face value
₹0
Shares
32.7 cr
Working capital
₹391 cr
Current assets
₹959 cr
Current liabilities
₹568 cr
Delivery %
48.2%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹33₹38, midpoint ₹36

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹756 cr
Other Income₹23 cr
Total Income₹778 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹240 cr
Inventory Change (±)₹-11 cr
Employee Benefit Expense₹66 cr
Finance Costs₹3 cr
Depreciation & Amortisation₹10 cr
Other Expenses₹350 cr
Total Expenses₹659 cr
Profit before Tax₹119 cr
Tax Expense₹29 cr
Share of JV / Associates₹5.7 L
Net Profit₹90 cr
Net margin on total income11.6%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹229 cr29.4%
Employee benefit expense₹66 cr8.5%
Finance costs₹3 cr0.4%
Depreciation & amortisation₹10 cr1.3%
Other expenses₹350 cr45.0%
Tax expense₹29 cr3.7%
Profit for the period₹90 cr11.6%
Total income ₹778 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue602 cr657 cr756 cr
Total income622 cr676 cr778 cr
Expenses550 cr594 cr659 cr
Profit before tax67 cr82 cr119 cr
Tax17 cr12 cr29 cr
Net profit (owners' share)50 cr69 cr90 cr
Net margin (owners' share, on revenue)8.3%10.5%11.9%
EPS (₹)1.542.132.77
YoY (latest quarter): total income +25.7% · net profit +118.4%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹2,092 cr
Shareholder equity
₹1,412 cr
parent shareholders
Total debt
₹0 cr
Cash
₹119 cr
Cash flow · H1 FY26
Operating
₹16.2 L
Investing
₹11 cr
Financing
₹-18 cr
Peer comparison
Personal Care · by market value
CompanyPriceMarket capP/E
Godrej Consumer Products Limited₹873₹89,325 cr44.3
Dabur India Limited₹385₹68,219 cr28.9
Colgate Palmolive (India) Limited₹1,840₹50,056 cr36.5
Cupid Limited₹279₹37,536 cr211.5
Procter & Gamble Hygiene and Health Care Limited₹7,613₹24,712 cr48.9
Gillette India Limited₹7,307₹23,814 cr37.3
Emami Limited₹376₹16,417 cr29.8
Honasa Consumer Limitedthis company₹460₹15,024 cr41.5
Bajaj Consumer Care Limited₹502₹6,563 cr23.2
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.65%
trailing 12 months
Dividend / share (TTM)
₹3
Last dividend
₹3
ex 28 Aug 2026
ActionDetailEx-date
Dividend₹3 / share28 Aug 2026
Who owns it · 2026-06-30
4.2% pledged
Promoter
35.5%
FII / Foreign
13.6%
DII / Domestic
21.6%
Retail / others
29.3%
Promoter stake up 0.1% over the last 12 quarters.
Smart-money activity
Bulk / block deals
short · NSE116 Sep 26
short · NSE3924 Jul 26
SoldSOFINA VENTURES S.A. · NSE41.78 L @ ₹424.0725 Jun 26
Stake changes
SoldICICI Prudential Life Insurance Company Limited→ 5.53% · 8.93 L14 Aug 26
SoldICICI Prudential Life Insurance Company Limited→ 5.53% · 8.93 L14 Aug 26
BoughtArohi Asset Management Pte. Ltd. on behalf of Funds/ SMA managed→ 5.09% · 7.60 L19 Jan 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 25 Sep 2025
See the official result
1
Adoption of audited standalone financial statements for financial year 2024-25, along with the reports of Board and Auditors
Backed by 100% of shareholders other than promotersneeded 50%
12.08 cr votes for, 424 against · 0% of mutual funds and other big investors said no
2
Adoption of audited consolidated financial statement for financial year 2024-25, along with the report of Auditors
Backed by 100% of shareholders other than promotersneeded 50%
12.08 cr votes for, 1,150 against · 0% of mutual funds and other big investors said no
3
Re-appointment of Mr. Ishaan Mittal as Director, who retires by rotation and is eligible for reappointment
Backed by 100% of shareholders other than promotersneeded 50%
14.67 cr votes for, 4.71 L against · 0% of mutual funds and other big investors said no
4
Re-appointment of Mr. Vivek Gambhir as an Independent Director of the Company for a second term of 5 years with effect from March 24, 2026
Backed by 98% of shareholders other than promotersneeded 75%
14.47 cr votes for, 24.86 L against · 2% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 18 named members
owning 35.5% between them · as of 2026-06-30
VARUN ALAGH32.38%
GHAZAL ALAGH3.06%
JASPAL ALAGH0.02%
MUKESH ALAGH0.02%
AGASTYA ALAGHno shares
AYAAGA VENTURES LLPno shares
AYAAN ALAGHno shares
CHIRAG SAHANIno shares
Business done with them
FY2025 · 2 of the group
The company paid ₹5 cr to companies in the promoter group last year — about 0.2% of its ₹2,067 cr revenue.
Varun Alagh
Other payments to them · Remuneration paid
also owns 32.38% of the company
₹3 cr
company paid
Ghazal Alagh
Other payments to them · Remuneration paid
also owns 3.06% of the company
₹2 cr
company paid

The company also transacted with 5 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹350 cr raised in Nov 2023 by selling shares to the public

As of Jun 2026, the company says it has spent 92% of what it set aside, leaving ₹30 cr still to be spent. ICRA Limited watches the spending on the exchange’s behalf.

Advertisement expenses towards enhancing the awareness and visibility of brands
100%
₹182 cr of ₹182 cr
Capital expenditure to be incurred by the Company for setting up new EBOs
44%
₹9 cr of ₹21 cr
Investment in Subsidiary, BBlunt for setting up new salons
30%
₹8 cr of ₹26 cr
General corporate purposes and unidentified inorganic acquisition
100%
₹122 cr of ₹122 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.