Established in 2016, Honasa Consumer Limited (HCL) is a pioneering force in the realm of beauty and personal care, operating primarily through its digital platform. With a commitment to innovation and customer satisfaction, HCL has swiftly carved a niche for itself in the industry.
In this article, we delve into the comprehensive landscape of the company, exploring its origins, product offerings, market presence, and strategic endeavors. Join us as we unravel the essence of HCL and its impactful journey in the beauty and personal care sector.
About Honasa Consumer
Honasa Consumer Limited (HCL) stands as a formidable presence in India’s beauty and personal care sector, solidifying its dominance as the largest digital-first company by revenue in FY23. With a diverse product portfolio encompassing baby care, face care, body care, hair care, color cosmetics, and fragrances, HCL caters to a wide spectrum of consumer needs. At the forefront of its offerings is Mamaearth, the company’s flagship brand, which accounted for a significant 43% of the FY23 revenue. Launched in 2016, Mamaearth has garnered acclaim for its commitment to crafting toxin-free beauty products derived from natural ingredients.
Notably, Mamaearth has earned the distinction of being India’s largest digital-first BPC brand in terms of revenue. Its popularity is further underscored by being the most-searched BPC brand on Google Trends in India between January 2020 and June 2023. HCL’s strategic focus on innovation, quality, and consumer wellness has propelled it to the forefront of the industry, shaping the landscape of digital-first beauty and personal care in India.
Honasa Consumer Ltd Q4 FY24 Results: Summary and Key Points
- Profit Turnaround:
- Achieved a consolidated profit of ₹30.47 crore compared to a loss of ₹161.75 crore in the same period last year.
- Reflects the effectiveness of strategic initiatives and operational improvements.
- Revenue Growth:
- Revenue from operations surged by 21.46% to ₹471.09 crore.
- Showcases strong top-line growth driven by effective sales and distribution strategies.
- EBITDA Margin Improvement:
- Improved EBITDA margins by 780 basis points year-on-year.
- Indicates enhanced operational efficiency and cost management.
- Achieved the highest-ever quarterly profit after tax.
- Distribution Expansion:
- Mamaearth expanded to 1,88,377 FMCG retail outlets across India, a 34% year-on-year increase.
- Reflects growing brand popularity and market penetration.
- Product Innovation:
- New products contributed approximately 18% to FY24 revenue from operations.
- Demonstrates the company’s commitment to innovation and meeting evolving consumer preferences.
- Resilience and Growth:
- Despite industry challenges, achieved a 23.3% like-for-like (LFL) growth for the quarter and 31.6% annually.
- Highlights the company’s ability to navigate challenges and capitalize on market opportunities.
- Full-Year Performance:
- For the financial year ending March 31, 2024, reported a profit after tax of ₹110.52 crore.
- Revenue from operations surged by 28.61% to ₹1,919.90 crore compared to the previous fiscal year.
- Underscores consistent growth and strong financial performance.
Below are the trading platforms that you can use to purchase Honasa Consumer shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| June 2024 | 460.50 | 400.44 |
| July 2024 | 455.90 | 396.43 |
| August 2024 | 474.13 | 412.29 |
| September 2024 | 493.10 | 428.78 |
| October 2024 | 483.43 | 420.38 |
| November 2024 | 502.77 | 437.19 |
| December 2024 | 507.80 | 441.56 |
In 2024, the maximum and minimum prices of Honasa Consumer shares are expected to vary each month. Starting in June 2024, the maximum price is projected to reach ₹460.50, with the minimum price anticipated at ₹400.44. By July, the prices are expected to slightly decrease, with a maximum of ₹455.90 and a minimum of ₹396.43. Moving into August, an upward trend is predicted, with the maximum price reaching ₹474.13 and the minimum at ₹412.29. September is forecasted to see further growth, with a maximum of ₹493.10 and a minimum of ₹428.78. In October, a slight decrease is expected, with the maximum price at ₹483.43 and the minimum at ₹420.38. By November, prices are projected to rise again, reaching a maximum of ₹502.77 and a minimum of ₹437.19. Finally, in December 2024, Honasa Consumer shares are expected to reach their highest point of the year with a maximum price of ₹507.80 and a minimum price of ₹441.56.
| When | Maximum Price | Minimum Price |
| January 2025 | 512.18 | 393.98 |
| February 2025 | 525.31 | 404.09 |
| March 2025 | 545.80 | 419.85 |
| April 2025 | 535.10 | 411.61 |
| May 2025 | 519.51 | 399.62 |
| June 2025 | 542.89 | 417.61 |
| July 2025 | 532.25 | 409.42 |
| August 2025 | 548.71 | 422.08 |
| September 2025 | 567.91 | 436.85 |
| October 2025 | 582.68 | 448.21 |
| November 2025 | 597.24 | 459.42 |
| December 2025 | 612.18 | 470.90 |
In 2025, Honasa Consumer Limited’s share price target exhibits a bullish trend, with the maximum price reaching ₹612.18 and the minimum price at ₹393.98 in January. The year progresses with consistent upward momentum, peaking at ₹612.18 in December.
Notably, Honasa has expanded its brand portfolio significantly since the launch of Mamaearth in 2016, adding five new brands: The Derma Co., Aqualogica, Ayuga, BBlunt, and Dr. Sheth’s. This strategic move has enabled the company to adopt a ‘House of Brands’ architecture, diversifying its offerings and strengthening its market presence.
| When | Maximum Price | Minimum Price |
| January 2026 | 630.54 | 485.03 |
| February 2026 | 646.71 | 497.47 |
| March 2026 | 671.93 | 516.87 |
| April 2026 | 658.75 | 506.73 |
| May 2026 | 639.57 | 491.97 |
| June 2026 | 668.35 | 514.11 |
| July 2026 | 655.24 | 504.03 |
| August 2026 | 675.51 | 519.62 |
| September 2026 | 699.15 | 537.81 |
| October 2026 | 717.33 | 551.79 |
| November 2026 | 735.26 | 565.59 |
| December 2026 | 753.64 | 579.73 |
In 2026, Honasa Consumer Limited continues its upward trajectory with an optimistic outlook for its share price. The year starts strong, with the maximum price hitting ₹753.64 and the minimum at ₹485.03 in January. Throughout the months, prices maintain a steady climb, culminating in a high of ₹753.64 in December. Despite volatility in the market, Honasa solidifies its position with a 5.4% share in the Online Beauty and Personal Care Market and 1.5% in the Indian BPC market.
Moreover, the recent acquisition of BBlunt Salons and its product business in March 2022 further bolsters the company’s offerings, expanding its reach into hair care, grooming, and styling services across key cities like Mumbai, Bangalore, and Kolkata.
| When | Maximum Price | Minimum Price |
| January 2027 | 768.72 | 591.32 |
| February 2027 | 788.43 | 606.48 |
| March 2027 | 819.18 | 630.14 |
| April 2027 | 803.11 | 617.78 |
| May 2027 | 779.72 | 599.79 |
| June 2027 | 814.81 | 626.78 |
| July 2027 | 798.83 | 614.49 |
| August 2027 | 823.54 | 633.49 |
| September 2027 | 852.36 | 655.66 |
| October 2027 | 874.52 | 672.71 |
| November 2027 | 896.39 | 689.53 |
| December 2027 | 918.80 | 706.77 |
In 2027, Honasa Consumer Limited anticipates robust growth as its share price target continues to soar. Starting the year with a maximum price of ₹918.80 and a minimum of ₹591.32 in January, the trend remains bullish throughout the months. The company’s in-house innovation team, comprising 47 members as of June 2023, spearheads product development initiatives, driving end-to-end ideation and execution of new launches.
Notably, Honasa has demonstrated exceptional growth, with revenue expanding at an impressive CAGR of 80% between FY21-FY23. This remarkable growth trajectory underscores the company’s commitment to innovation, market expansion, and sustained success in the beauty and personal care industry.
| When | Maximum Price | Minimum Price |
| January 2028 | 937.17 | 720.90 |
| February 2028 | 961.20 | 739.39 |
| March 2028 | 998.69 | 768.22 |
| April 2028 | 979.11 | 753.16 |
| May 2028 | 950.59 | 731.22 |
| June 2028 | 993.37 | 764.13 |
| July 2028 | 973.89 | 749.15 |
| August 2028 | 1,004.01 | 772.32 |
| September 2028 | 1,039.15 | 799.35 |
| October 2028 | 1,066.17 | 820.13 |
| November 2028 | 1,092.82 | 840.63 |
| December 2028 | 1,120.14 | 861.65 |
- January 2028: ₹720.90(Minimum)
- December 2028: ₹1,120.14 (Maximum)
| When | Maximum Price | Minimum Price |
| January 2029 | 1,142.55 | 878.88 |
| February 2029 | 1,171.84 | 901.42 |
| March 2029 | 1,217.54 | 936.57 |
| April 2029 | 1,193.67 | 918.21 |
| May 2029 | 1,158.90 | 891.46 |
| June 2029 | 1,211.05 | 931.58 |
| July 2029 | 1,187.31 | 913.31 |
| August 2029 | 1,224.03 | 941.56 |
| September 2029 | 1,266.87 | 974.51 |
| October 2029 | 1,299.81 | 999.85 |
| November 2029 | 1,332.30 | 1,024.85 |
| December 2029 | 1,365.61 | 1,050.47 |
- January 2029: ₹878.88(Minimum)
- December 2029: ₹1,365.61 (Maximum)
| When | Maximum Price | Minimum Price |
| January 2030 | 1,392.92 | 1,071.48 |
| February 2030 | 1,428.64 | 1,098.95 |
| March 2030 | 1,484.36 | 1,141.81 |
| April 2030 | 1,455.25 | 1,119.42 |
| May 2030 | 1,412.86 | 1,086.82 |
| June 2030 | 1,476.44 | 1,135.73 |
| July 2030 | 1,447.49 | 1,113.46 |
| August 2030 | 1,492.26 | 1,147.89 |
| September 2030 | 1,544.49 | 1,188.07 |
| October 2030 | 1,584.65 | 1,218.96 |
| November 2030 | 1,624.26 | 1,249.43 |
| December 2030 | 1,664.87 | 1,280.67 |
- January 2030: ₹1,071.48 (Minimum)
- December 2030: ₹1,664.87 (Maximum)
Financial Condition of Honasa Consumer: Last 5 Years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 110 | 460 | 932 | 1,395 | 1,764 |
| Expenses + | 541 | 1,794 | 916 | 1,350 | 1,624 |
| Operating Profit | -432 | -1,334 | 16 | 45 | 140 |
| OPM % | -393% | -290% | 2% | 3% | 8% |
| Other Income + | 4 | 12 | 21 | -132 | 48 |
| Interest | 0 | 1 | 3 | 5 | 7 |
| Depreciation | 1 | 2 | 6 | 15 | 23 |
| Profit before tax | -428 | -1,325 | 28 | -107 | 158 |
| Tax % | 0% | -1% | 29% | -12% | 24% |
| Net Profit + | -428 | -1,332 | 20 | -121 | 121 |
| EPS in Rs | -419,637.25 | -1,306,098.04 | 19,291.26 | -8.84 | 3.73 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Over the span of four years from March 2020 to March 2024, Honasa Consumer Ltd demonstrated a commendable performance across various financial metrics. The company witnessed a consistent growth trajectory in sales, reflecting its expanding market presence and consumer demand. Notably, the operational performance saw a significant turnaround, with operating profit reaching Rs 140 crores in March 2024 after experiencing negative figures in the preceding years. This improvement underscored the effectiveness of the company’s operational strategies and cost management initiatives. Additionally, the company’s other income exhibited a positive trend, particularly in March 2024, indicating diversified revenue streams. Despite a gradual increase in interest and depreciation expenses, profit before tax surged to Rs 158 crores in March 2024, highlighting a remarkable turnaround in profitability. Furthermore, the net profit displayed a positive trend, reaching Rs 121 crores in March 2024, while earnings per share (EPS) witnessed a substantial improvement, reflecting enhanced profitability per share. The decision to reinvest profits back into the business, as evidenced by a 0% dividend payout, emphasizes the company’s commitment to driving growth and value creation for its shareholders.
FAQs
What is Honasa Consumer’s current market cap?
Honasa Consumer’s current market cap is ₹14,588 crore.
The projected share price target for Honasa Consumer in 2025 ranges from ₹393.98 to ₹612.18.
The projected share price target for Honasa Consumer in 2030 ranges from ₹1,071.48 to ₹1,664.87.
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In summary, the Q4 performance of Honasa Consumer Limited for the fiscal year ending March 2024 reflects an impressive journey characterized by growth, adaptability, and forward-thinking strategies. With a net profit of Rs 30.47 crore and a substantial surge in revenue, the company has demonstrated its agility in navigating market fluctuations and seizing emerging opportunities. The expansion of Mamaearth’s retail footprint and the introduction of new product offerings underscore Honasa’s commitment to catering to evolving consumer demands and fostering sustainable expansion. Positioned as a frontrunner in the digital-first brand landscape, Honasa’s relentless pursuit of operational excellence, innovation, and customer-centricity bodes well for its continued success in the foreseeable future.
Having said that, we are not a financial advisor. Please consult a SEBI-registered financial advisor before trading Honasa Consumer Limited. This post on Honasa Consumer Limited shares price target from 2024 to 2030 is for educational purposes only.
What did we learn?
- 1 About Honasa Consumer
- 2 Honasa Consumer Ltd Q4 FY24 Results: Summary and Key Points
- 3 How to Purchase Honasa Consumer Shares?
- 4 Honasa Consumer Share Price Target 2024 – 2030
- 4.1 Honasa Consumer Share Price Target 2024
- 4.2 Honasa Consumer Share Price Target 2025
- 4.3 Honasa Consumer Share Price Target 2026
- 4.4 Honasa Consumer Share Price Target 2027
- 4.5 Honasa Consumer Share Price Target 2028
- 4.6 Honasa Consumer Share Price Target 2029
- 4.7 Honasa Consumer Share Price Target 2030
- 5 Financial Condition of Honasa Consumer: Last 5 Years
- 6 FAQs
- 7 Conclusion: Navigating the Dynamic Landscape of Beauty and Personal Care
