HONASA

Q4 2025 Result Review.......

delivered a robust performance in Q4FY25, with revenue rising 13.3% YoY to ₹534 crore—outpacing the broader FMCG market. The company posted a ₹25 crore profit after tax (PAT), with an EBITDA margin of 5.1%, reflecting improved operational efficiency. Gross profit margin rose to 70.7%, aided by a better product mix. A key highlight was the strengthening of its direct distribution model, which now accounts for 71% of Q4FY25 sales, up from 38% in FY24. Over 1 lakh unique outlets were billed in FY25, expanding the company’s retail footprint. For the full year FY25, Honasa recorded revenue of ₹2,066 crore, up from ₹1,919 crore in FY24, though PAT declined to ₹72 crore from ₹110 crore. CEO Varun Alagh emphasized strong brand momentum, especially for Mamaearth, which has shown leadership across key categories on both e-commerce and modern trade platforms. NielsenIQ data indicates Mamaearth is now among the Top 5 in the face wash category. Newer brands, such as The Derma Co., also saw strong growth, with offline ARR crossing ₹100 crore. The company remains focused on innovation, expanding offline presence, and building a future-ready house of consumer-centric brands in the beauty and personal care space.