Honasa Consumer, the parent company of Mamaearth, expects to begin FY27 with strong momentum, projecting around 30% year-on-year revenue growth in the first quarter as demand strengthens across its brand portfolio and offline distribution continues to expand.
After adjusting for a change in revenue recognition related to the Flipkart group, Honasa expects reported revenue growth to be in the mid-twenties. The company said the adjustment is linked to changes in settlement practices for marketplace sellers.
Mamaearth, Honasa’s flagship brand, is expected to deliver high-teen year-on-year growth during Q1 FY27. The performance is being supported by improving consumer demand and stronger offline distribution, reinforcing the brand’s position within India’s competitive beauty and personal care market.
Honasa’s younger brand portfolio is expected to grow even faster. The Derma Co., Aqualogica, BBlunt, Dr. Sheth’s, Staze, Lumineve and Reginald Men are collectively projected to record growth in the early forties. The momentum across these emerging brands highlights the company’s strategy of building a diversified beauty and personal care portfolio across multiple consumer categories and needs.
Offline channels remained the key growth driver during the quarter. Honasa attributed the momentum to stronger general trade distribution, improved in-store execution across modern trade and expanding direct reach. Its online business is also expected to record healthy growth, strengthening the company’s broader omnichannel strategy.
Profitability is another important focus for the quarter. Honasa expects to maintain a double-digit operating margin in Q1 FY27, supported by operating leverage as the business continues to scale. The combination of strong revenue growth and sustained double-digit margins points to improving efficiency across the company’s expanding brand ecosystem.
The update remains provisional and does not constitute formal financial results or earnings guidance. Honasa will announce detailed Q1 FY27 financial results after its board reviews and approves the financial statements.
At 10:03 AM on Thursday, Honasa Consumer shares were trading at ₹467.25, giving the company a market capitalisation of around ₹15,250 crore.
With Mamaearth maintaining growth, younger brands expanding in the early forties and offline distribution emerging as a major growth engine, Honasa Consumer is entering FY27 with strong momentum across brands, channels and profitability.
