Honasa Consumer Q3 FY26 Revenue Hits Record ₹602 Crore, PAT Doubles
Honasa Consumer reported record Q3 FY26 revenue of ₹602 crore, up 21.7% YoY, with PAT nearly doubling. EBITDA stood at ₹66 crore (10.9% margin). Mamaearth returned to teens growth, while young brands grew over 25%. The company also announced the acquisition of Reginald Men.
Record financial results, significant year-on-year growth, and a strategic acquisition are material events that will likely have a high impact on the company's valuation and market position.
The company reported record revenue and PAT, alongside strong growth in its core brand and young brands portfolio. The acquisition of Reginald Men also presents a positive growth opportunity.
Honasa Consumer Limited announced its financial results for the third quarter and nine months ended December 31, 2025. The company reported its highest ever quarterly revenue of ₹602 crore, marking a 21.7% year-on-year growth, primarily driven by a 30% volume growth (UVG). EBITDA also reached its highest ever at ₹66 crore, representing a 10.9% margin. Profit After Tax (PAT) nearly doubled, achieving its highest ever figure.
The company highlighted a revenue recognition impact of ₹28 crore due to changes in Flipkart Group's norms, but on a like-to-like basis, the growth remains at 21.7%. All sales channels, including e-commerce (20% growth) and Modern Trade & GT (25% growth), are performing well. The strategy of focusing on key categories, which account for over 90% of investments, has paid off, with these categories growing at over 25%.
Mamaearth has returned to double-digit growth (teens Y-o-Y), attributed to improved formulations, aspirational communication, and focus on six key categories. The young brands portfolio continues its momentum, with Derma Co achieving a double-digit EBITDA profile this quarter. Staze has crossed ₹50 crore in ARR. Offline execution has also shown strong results, with direct distribution contributing nearly 80% of revenue and optimized inventory holding days at around 30 days.
Honasa Consumer also announced the acquisition of Reginald Men, a brand focused on men's skincare, to tap into the growing market trend. The company reiterated its commitment to product renovation and innovation, with multiple new formulations delivering blind test winning performances. Management expressed confidence in sustaining the growth trajectory and improving EBITDA margins by approximately 100 basis points year-on-year for the next 2-3 years.
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