Mamaearth Q2 Results: Honasa Consumer Reports 93% YoY Jump In Profit

Honasa Consumer, parent company of Mamaearth, on November 22 declared a surge of 93% in its net profit to Rs 29.4 crore for the quarter ended September 30, 2023 as against Rs 15.2 crore reported in the corresponding period of last year. The company's revenue from operations for Q2 declared at 496 crore, up 21% from Rs 410 crore in the similar quarter of last year.

The company stated in its BSE filing that its EBITDA stood at Rs 40 crore, up 53% year-on-year (YoY). It is worth mentioning that Honasa Consumer emerged as largest digital-first BPC company that provides a unique proposition of six brands.

Stock Performance: Despite reporting 93% jump in its Q2 net profit, Honasa Consumer Ltd shares witnessed a fall of 4.05% to Rs 352.10 apiece. Its 52-week high price is Rs 383.80 per share and 52-week low price is Rs 256.10 per share, respectively.

The company has a market capitalisation of Rs 11,328.70 crore. In last 1-week, Honasa Consumer shares soared 11.80% and jumped 9.25% in last 2-weeks.

Commenting on the performance, Varun Alagh, Chairman and CEO, Honasa Consumer Ltd. said," I am proud of the Q2 and H1 FY24 results. The beauty market in India is brimming with opportunities, and we are receiving a lot of consumer love for our on trend innovations across brands. Honasa has been able to deliver market beating growths and constantly improve the profitability portfolio of the company. Our business has grown by 33% YoY in H1 FY24 which is 3.8 times the median growth of FCMG companies in India. Mamaearth, our largest brand has entered the Top 15 BPC brands in India, overtaking many legacy brands, as per a report by Jefferies. Our profits grew much faster than our revenues, with H1 PAT growing by 1,377% to 54 CR. Dr Sheths has become the 4'th brand from Honasa portfolio to enter the 150 Cr Club after Aqualogica and Derma Co. We will continue to deliver on our commitments to our business, consumers, and investors."

Financial Performance: H1 FY24: Honasa Consumer delivered INR 961 Cr in revenue from operations, growing 33% YoY (like for like growth of continuing business was 36%). This was driven by volume growth of 35% YoY. With industry leading gross profit of 70%, Honasa Consumer achieved an EBITDA of INR 70 Cr (400% YoY growth) and PAT at INR 54 Cr (1,377% YoY growth).

Q2 FY24: Honasa Consumer delivered INR 496 Cr in revenue from operations, growing 21% YoY (like for like growth of continuing business was 24%). This was driven by volume growth of 27% YoY. In this period, Honasa Consumer achieved an EBITDA of INR 40 Cr (53% YoY growth) and PAT at INR 29 Cr (94% YoY growth).

About: Honasa Consumer Limited, is the largest digital-first beauty and personal care company with a diverse portfolio of six brands. Uniquely positioned to capture the growth trends shaping in the BPC market, the company is building brands through on trend data-based innovation and strong omnichannel distribution. Driven by purpose, Honasa Consumer Limited is committed to serving its consumers and the society for a better tomorrow.