Results · Commerce & Consumer Brands

Honasa targets ₹5,500 Cr revenue by FY31

By Startup Enthusiast · 10 June 2026

What they do

Honasa Consumer owns Mamaearth, The Derma Co, and other beauty brands

It unveiled a vision to reach ₹5,500 Cr revenue by FY31, with FY26 revenue at ₹2,391.9 Cr

The company also invested ₹10 Cr for a 25% stake in Fang Oral Care

Honasa Consumer unveiled a long-term vision to reach consolidated revenue of ₹5,500 Cr by FY31.
In FY26, the company reported revenue of ₹2,391.9 Cr (16% YoY growth) and net profit of ₹200.2 Cr (175% YoY growth).
The company aims to become the fastest FMCG company in India to cross ₹5,000 Cr revenue.
It plans to scale Mamaearth to the fastest brand to reach ₹2,000 Cr revenue.
It plans to scale The Derma Co to over ₹1,500 Cr revenue.
Honasa also invested ₹10 Cr to acquire a 25% stake in Fang Oral Care, a premium oral wellness startup.
The company is transitioning from online-first to omni-channel by cutting super-stockists and moving to a direct distribution model.

The vision comes as Honasa's stock hit a 52-week high of ~₹438 on 11 Jun 2026, rallying ~77% in six months.
The company's market capitalisation stood at ₹13,814 Cr (~$1.45 billion) as of 11 Jun 2026.
Honasa aims to expand EBITDA margin by 500 bps to cross 15%, with current margin at ~10%.
The company plans to increase direct retail presence from ~120,000 outlets to more than 300,000 outlets across India.

Honasa Consumer is the parent company of Mamaearth, The Derma Co, Aqualogica, BBlunt, Dr Sheth's, Reginald Men, Staze 9to9, and Lumineve.
It is a digital-first house of brands catering to millennial customers in beauty and personal care.
Its brands span natural personal care, science-backed skincare, and modern Ayurveda.
The company has an omni-channel presence across 750+ districts.
Mamaearth started as Asia's first brand with Made Safe certified products, for baby care.
Honasa expanded into all segments of Beauty & Personal Care through Mamaearth and other brands.
It launched a night-focused skincare brand Luminéve on Nykaa.
The company appointed Karan Bajwa as CHRO and Avinash Dhagat as CSCO.

Scale Mamaearth to the fastest brand to reach ₹2,000 Cr revenue.
Scale The Derma Co to over ₹1,500 Cr revenue.
Grow at least two other portfolio brands to over ₹500 Cr each.
Become national market leader in at least two skincare categories, top three in two additional categories.
Expand EBITDA margin by 500 bps to cross 15%.
Increase direct retail presence from ~120,000 outlets to more than 300,000 outlets across India.
Use AI to supercharge offline expansion model.
Target ₹750-800 Cr revenue from General Trade by FY31.
Target ₹700-750 Cr each from Modern Trade and standard e-commerce by FY31.
Target ₹550-600 Cr revenue from quick commerce by FY31.
Target ₹400-450 Cr revenue from own D2C channel by FY31.
Explore next horizon categories: nutraceuticals, fragrances, oral care.