Honasa Consumer shares jump over 8% after Q2 NSV growth seen in early 30s; margins in focus

Honasa Consumer shares jumped as much as 8.24% to ₹478.55 apiece on the NSE on Tuesday, October 6, after the company said it expects net sales value (NSV) growth in the early thirties year-on-year in Q2FY27. The growth is expected to be broad-based, supported by traction across its focus categories and brands.

Net sales value (NSV) is the value of products sold after adjusting for discounts, returns, and other deductions from gross sales. In simple terms, it shows how much the company actually earns from the products it sells.

Other key details

Mamaearth, Honasa Consumer’s largest brand, is expected to post high-teens YoY NSV growth during the quarter, supported by rising brand affinity and a widening offline footprint.

The company’s younger brands, including The Derma Co., Aqualogica, BBlunt, Dr Sheth’s and others, are expected to accelerate growth to around the mid-forties.

Offline channels, including General Trade and Modern Trade, are expected to lead growth, while online sales are also expected to maintain momentum.

On profitability, Honasa said it expects to maintain an early double-digit operating margin profile in Q2FY27, with strong year-on-year gains.

The company clarified that the update is provisional and subject to limited review by statutory auditors, with detailed Q2 financial results to follow after board approval.

Recent updates to know

In late September 2026, Venture capital firm Peak XV Partners and an affiliate pared their holdings in Honasa Consumer by selling a little over 4% stake for ₹597 crore through separate bulk deals on the NSE.

A total of 1.32 crore shares, representing a 4.06% stake in the Gurugram-based personal care company, changed hands in the transactions, according to exchange data.

Peak XV Partners Investments VI, an investment fund of Peak XV Partners, sold more than 1.07 crore shares on Tuesday, representing nearly a 3% stake in Honasa Consumer.

Sequoia Capital Global Growth Fund III - US/ India Annex Fund LP also offloaded 25.02 lakh shares, or a 0.77% stake in the company.

Sequoia Capital Global Growth Fund III - US/ India Annex Fund is co-managed by Peak XV Partners and Sequoia Capital.

Following the latest stake sale, the combined holding of the investors in Honasa declined to 14.18% from 18.24%. Despite the divestment, the investor will remain the largest public shareholder.

Honasa Consumer Q1 FY27 earnings

The company reported a more than two-fold jump in consolidated net profit to ₹90.45 crore for the June quarter of FY27 (Q1 FY27), driven by growth in its core brands.

The owner of beauty and personal care brands such as Mamaearth and The Derma Co reported a net profit of ₹41.32 crore in the April-June period a year ago, according to a regulatory filing.

Honasa Consumer's revenue from operations increased 27% year-on-year to ₹755.94 crore in the June quarter of FY27, compared to ₹595.25 crore in the corresponding period of FY26.

Total expenses stood at ₹659.27 crore, up 17% YoY, in the quarter under review.

Honasa Consumer's total income increased 25.73% to ₹778.45 crore.

"We delivered our highest-ever quarterly revenue and profit, with EBITDA more than doubling to ₹110 crore. What stands out for us is that this growth is coming from both our core and younger brands. Our Focus Categories grew 35%+, and we are seeing stronger demand across General Trade, Modern Trade and e-commerce. This is the playbook we set out to build, and it is now translating into performance," said the company's Co-founder and CEO Varun Alagh.

At the brand level, Mamaearth has accelerated to high-teens growth, led by its Focus Categories.