Honasa Consumer falls 4% after nutraceutical foray via Fluence Pharma acquisition - all you need to know

Shares of Honasa Consumer, one of the leading FMCG companies and digital-first beauty and personal care (BPC) businesses, tumbled as much as 3.9% to ₹403.50 apiece on the NSE on Wednesday, June 24, as the company announced a key business expansion plan.

The company on Tuesday announced the acquisition of a majority stake of 58% in Fluence Pharma, a science-backed nutraceuticals company known for its differentiated and patented Cyclical Nutrition Therapy (CNT)1 and strong dermatologist-led distribution network.

Nutraceuticals are products derived from food sources that provide health or medical benefits beyond basic nutrition. In simple terms, they are food-based products taken to improve health, prevent diseases, or support specific body functions.

"This strategic acquisition marks Honasa's entry into the high-growth nutraceuticals space, reinforcing its commitment to building science-backed solutions that address evolving consumer needs across 'inside-out' beauty," the company said in its press release.

Honasa Consumer will acquire the majority stake in Fluence Pharma for ₹135 crore.

The company added that it would acquire the remaining 42% equity stake of Fluence Pharma via secondary purchase in two tranches over the next 5-7 years from completion of the acquisition of the aforesaid stake in accordance with the Share Purchase Agreement and the Shareholders’ Agreement.

Nutraceuticals category

In its press releases, the company said that the nutraceuticals category is at an inflection point in India, driven by rising consumer demand for holistic, "beauty-from-inside" interventions and an active awareness of nutritional gaps.

"This shift is expanding the role of supplements within the beauty ecosystem, creating immediate opportunities for integrated solutions that combine topical products with targeted nutritional support. This strategic expansion targets India's rapidly growing nutraceuticals market, which is currently valued at over INR 16,000 Crore+," it added.

Through this acquisition, Honasa Consumer Limited will execute its entry into the category by establishing its dedicated subsidiary, Honasa Health Private Limited.

Under this new entity, the company will scale a highly differentiated B2C nutrition portfolio by combining Fluence’s patented clinical science and deep practitioner trust with its own expertise in brand building, consumer insights, and digital-first distribution.

What the CEO said

Varun Alagh, Co-founder and CEO, Honasa Consumer Limited, said, “The beauty and personal care landscape is entering a new era where consumers are increasingly seeking holistic, inside-out solutions that address beauty concerns at their root. While the last decade was shaped by topical actives, we believe the next decade will be defined by the powerful convergence of science-backed skin and hair care, and nutraceuticals."

The CEO added, "Fluence has built a strong scientific foundation through its patented Cyclical Nutrition Therapy, setting a benchmark for clinically validated efficacy. We are excited to build on this foundation and scale it through Honasa Health, creating a consumer-first nutraceuticals franchise that complements our science-led beauty portfolio. This marks an important step in our vision of building a future-ready House of Brands and a more resilient, diversified growth engine.”

What Amit Bhusari, CEO & Co-founder, Fluence Pharma, said

"For the past ten years, we have focused rigorously on grounding our portfolio in science and earning the trust of the medical fraternity. To unlock the true potential of our proprietary science, however, we needed a partner who could take these clinical solutions to a wider consumer base,” Bhasuri said.

“Honasa Consumer brings the perfect opportunity and infrastructure for us. Their unparalleled digital-first capabilities, data-driven consumer insights, and proven track record of scaling young brands will allow us to strengthen our distribution and solve consumer problems across India," Bhasuri added.

“Leveraging the patented science of Fluence Pharma, the newly incorporated subsidiary, Honasa Health, will drive Honasa's foray into building a B2C franchise in nutraceuticals. This subsidiary will be spearheaded by Dheeraj Nagpal, CEO, Honasa Health”, the press release said.

About Fluence Pharma

Fluence Pharma, founded by Amit Bhusari and Dr. Rajendra Singh Rajput, operates in the nutraceuticals segment with a focus on dermatology-linked nutrition products. The company has developed a proprietary Cyclical Nutrition Therapy (CNT) platform and markets products that are prescribed by dermatologists. According to the company, its products are used by a network of more than 3,000 dermatologists across India.

Honasa Consumer share price trend

Shares of Honasa Consumer have been one of the steady performers amid heightened volatility in the market. Data show that the stock has jumped 5.36% over the past five sessions, over 7% in one month, and 52.6% over the past six months.

So far in 2026 (YTD), the stock price has jumped over 48%, while in the past 12 months, the stock has gained 35%.

What is driving the stock rally?

Buying interest in Honasa Consumer has strengthened in recent months following a sharp improvement in its financial performance and business outlook. In the March quarter (Q4 FY26), the Mamaearth parent reported a strong jump in profit and margin expansion, aided by better inventory management, lower channel corrections, and improving demand trends.

Investors have also cheered the recovery in the flagship Mamaearth brand, robust growth in brands such as The Derma Co., continued expansion of its offline distribution network, and management's focus on profitable growth.

Positive earnings momentum, analyst upgrades, and optimism around the company's diversification into newer categories have further boosted sentiment, helping the stock rally more than 50% over the past six months.

About Honasa Consumer Ltd.

Honasa Consumer Ltd. is a beauty and personal care company that owns and operates brands such as Mamaearth, The Derma Co., Aqualogica, BBlunt, Dr Sheth's and Staze. The company sells its products through a mix of direct-to-consumer (D2C), e-commerce and offline retail channels. According to the company, its distribution network covers more than 95% of India's pincodes through online channels and nearly 300,000 FMCG retail outlets across the country.