Honasa Consumer Ltd.
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ABOUT
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AI GENERATEDFast Moving Consumer Goods
Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.
PROS
- Company is almost debt free
- Latest quarter profit grew 118.9% YoY, showing strong momentum
- Operating margins have improved to 8.8% from 2.8%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.25x)
- Company has been maintaining a healthy dividend payout of 48.8%
CONS
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (33.8% of PBT)
- Company has a low return on equity of 7.4% over last 3 years
- Equity base is being diluted - shares outstanding up 138.7%
- Stock is trading at 7.1x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ADANIENT | 3100.00 | 56.37 | 419654.01 | 0.04 | -1461.54 | -249.67 | 32923.98 | 49.92 | 13.30 | 15.57 |
| AEGISLOG | 1306.60 | 36.65 | 45861.66 | 0.67 | 544.84 | 210.70 | 2356.86 | 37.07 | 19.76 | 30.28 |
| CPPLUS | 3828.15 | 94.89 | 45287.18 | 0.04 | 142.20 | 332.51 | 1402.42 | 89.51 | 29.48 | 14.52 |
| PREMIERENE | 970.00 | 26.45 | 44033.30 | 0.10 | 471.92 | 53.32 | 2462.59 | 35.25 | 33.72 | 29.03 |
| REDINGTON | 392.20 | 18.03 | 30661.19 | 1.53 | 453.49 | 94.65 | 34922.47 | 34.57 | 18.96 | 2.03 |
| HONASA | 475.10 | 62.24 | 15489.41 | 0.63 | 90.45 | 118.87 | 755.95 | 27.00 | 20.87 | 14.58 |
| LLOYDSENT | 70.00 | 95.16 | 10685.86 | 0.21 | 109.98 | -55.77 | 563.03 | 70.15 | 12.84 | 18.07 |
| SGMART | 767.50 | 77.80 | 9673.20 | 0.00 | 455.80 | 1310.71 | 13085.70 | 1044.08 | 10.43 | 4.49 |
| MMTC | 62.22 | 20.86 | 9333.00 | 0.00 | 104.24 | 135.52 | 0.68 | -50.00 | 33.46 | -1423.53 |
| ENTERO | 1796.30 | 62.34 | 7818.05 | 0.00 | 52.05 | 72.17 | 1940.50 | 38.23 | 10.93 | 5.00 |
| EBGNG | 676.35 | 54.14 | 7711.17 | 0.00 | 28.93 | 56.21 | 412.46 | 32.08 | 20.58 | 11.97 |
| CELLO | 339.05 | 24.44 | 7646.88 | 0.44 | 73.40 | -8.99 | 526.72 | -0.43 | 17.15 | 18.80 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 464 | 496 | 488 | 471 | 554 | 462 | 518 | 534 | 595 | 538 | 602 | 657 | 756 | |
| 435 | 456 | 454 | 438 | 508 | 493 | 491 | 507 | 549 | 490 | 536 | 580 | 659 | |
| Operating Profit | 29 | 40 | 34 | 33 | 46 | -31 | 26 | 27 | 46 | 48 | 66 | 77 | 97 |
| OPM % | 6.31% | 8.11% | 7.06% | 7.03% | 8.32% | -6.65% | 5.05% | 5.06% | 7.69% | 8.85% | 10.89% | 11.75% | 12.79% |
| 13 | 7 | 11 | 19 | 19 | 20 | 19 | 21 | 24 | 20 | 16 | 19 | 23 | |
| Interest | 1 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Depreciation | 6 | 6 | 8 | 10 | 9 | 11 | 13 | 12 | 11 | 12 | 11 | 11 | 10 |
| Profit before Tax | 34 | 39 | 35 | 39 | 52 | -24 | 29 | 32 | 56 | 53 | 67 | 82 | 119 |
| Tax % | 27.22% | 24.92% | 25.40% | 22.37% | 23.17% | 23.80% | 11.56% | 22.35% | 25.67% | 25.63% | 25.17% | 15.13% | 24.15% |
| Net Profit | 0 | 0 | 0 | 0 | 40 | -19 | 26 | 25 | 41 | 39 | 50 | 69 | 90 |
| 0.85 | 0.96 | 0.82 | 0.97 | 1.24 | -0.57 | 0.80 | 0.77 | 1.27 | 1.21 | 1.54 | 2.13 | 2.77 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| 943 | 1,493 | 1,920 | 2,067 | 2,392 | 2,553 | |
| 932 | 1,470 | 1,783 | 1,998 | 2,159 | 2,266 | |
| Operating Profit | 11 | 23 | 137 | 69 | 233 | 287 |
| OPM % | 1.21% | 1.52% | 7.14% | 3.32% | 9.73% | 11.24% |
| 21 | -132 | 50 | 79 | 82 | 77 | |
| Interest | 3 | 7 | 9 | 13 | 13 | 13 |
| Depreciation | 7 | 25 | 31 | 45 | 44 | 44 |
| Profit before Tax | 22 | -141 | 147 | 90 | 257 | 321 |
| Tax % | 35.63% | -7.04% | 24.87% | 18.89% | 22.18% | 22.30% |
| Net Profit | 14 | -151 | 111 | 73 | 200 | 249 |
| EPS | 0.52 | -4.66 | 3.45 | 2.24 | 6.15 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 48.82% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 17%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 57%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 4%
- 3 Years:
- 7%
- Last Year:
- 16%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 0 | 136 | 324 | 325 | 325 | |
| -1,108 | -1,374 | 746 | 835 | 1,044 | |
| 113 | 78 | 112 | 111 | 100 | |
| Trade Payables | 170 | 197 | 294 | 357 | 378 |
| 1,859 | 1,940 | 153 | 153 | 234 | |
| Total Liabilities | 1,035 | 977 | 1,630 | 1,781 | 2,081 |
| 342 | 252 | 299 | 302 | 489 | |
| 339 | 260 | 292 | 305 | 272 | |
| 66 | 111 | 123 | 158 | 165 | |
| 0 | 0 | 159 | 132 | 198 | |
| Cash & Bank | 88 | 68 | 486 | 331 | 214 |
| 201 | 285 | 271 | 552 | 743 | |
| Total Assets | 1,035 | 977 | 1,630 | 1,781 | 2,081 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 54 | -39 | 235 | 102 | 141 | |
| Cash from Investing | -500 | 43 | -470 | -145 | -17 |
| Cash from Financing | 481 | -14 | 337 | -31 | -38 |
| 26 | -23 | 102 | -74 | 86 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Schedule of Meeting with Analysts/Investors
2026-09-11 - Schedule of Meeting with Analysts/Investors
2026-09-08 - Update on Senior Management
2026-09-04 - Newspaper Publication - 10th Annual General Meeting and E-voting Information
2026-09-03 - Notice of 10th Annual General Meeting
2026-08-26 - Communication regarding tax deduction at source on final dividend for FY 2025-26
2026-08-25 - Update on proposed acquisition of Fluence Pharma Private Limited
2026-08-21 - Newspaper Publication for information regarding 10th Annual General Meeting and Record Date for Final Dividend
2026-08-19 - Transcript of Earnings Conference Call held on August 13, 2026
News
Recent coverage and analyst commentary for HONASA
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Honasa Consumer Ltd.
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