Honasa Consumer Limited (HONASA) AI Stock Analysis

• Market Cap: ₹92.63B
• Dividend Yield: N/A
• Average Volume (3M): 24.61K
• Price to Earnings (P/E): 125.5
• Beta (1Y): 0.08
• Revenue Growth: 4.91%
• EPS Growth: -55.92%
• Country: IN
• Employees: 842
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Household & Personal Products
• EPS (TTM): 1.30
• Shares Outstanding: 325,369,780
• 10 Day Avg. Volume: 16,412
• 30 Day Avg. Volume: 24,607
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹274.71
• Price Target Upside: -3.51% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 7

• Rating: 50 Neutral
• Price Target: ₹285.00 ▲(0.11% Upside)

The overall stock score is primarily influenced by the company's financial performance, which shows improvement in revenue and profitability. However, technical indicators suggest bearish momentum, and the high P/E ratio indicates potential overvaluation. These factors collectively result in a moderate stock score.

Honasa Consumer Limited Business Overview & Revenue Model

Company Description

Honasa Consumer Limited (HONASA) is a prominent consumer goods company operating in the personal care and wellness sector. It is renowned for its flagship brand, Mamaearth, which offers a wide range of natural and eco-friendly products catering to skincare, haircare, and baby care needs. The company focuses on delivering toxin-free and environmentally friendly solutions, appealing to health-conscious consumers who prioritize sustainability and safety in their personal care routines.

How the Company Makes Money

Honasa Consumer Limited primarily generates revenue through the sale of its personal care products under the Mamaearth brand. The company employs a direct-to-consumer (D2C) model, leveraging e-commerce platforms and its own website to reach customers across various regions. Additionally, Mamaearth products are available in various retail stores, expanding its market presence. Key revenue streams include skincare, haircare, and baby care products, with significant contributions from online sales. Strategic partnerships with e-commerce giants and collaborations with influencers enhance brand visibility and consumer trust, further driving sales growth.

Honasa Consumer Limited Financial Statement Overview

Summary

Honasa Consumer Limited has shown significant recovery and growth in recent years, with improvements in revenue, profitability, and operational efficiency. However, historical volatility in net profit margins and cash flow fluctuations remain concerns.

Income Statement

Honasa Consumer Limited has shown consistent revenue growth over the past years, with a notable increase from 2020 to 2025. The gross profit margin has been strong, indicating efficient production and cost management. However, the net profit margin has been volatile, with significant losses in earlier years, although it turned positive in 2025. EBIT and EBITDA margins have also improved significantly from negative to positive, suggesting enhanced operational efficiency.

Balance Sheet

The company's debt-to-equity ratio has improved over the years, reflecting better financial leverage management. Return on equity turned positive in 2025, showing improved profitability relative to shareholder investments. Equity ratio has been stable, indicating a solid asset base relative to liabilities, albeit with fluctuations due to past losses impacting equity.

Cash Flow

Free cash flow has shown positive growth, although it has fluctuated over the years. Operating cash flow to net income ratio indicates that operating activities are increasingly supporting profitability. Despite fluctuations in cash flow components, recent years show improved cash management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	20.67B	20.67B	19.20B	14.93B	9.43B	4.60B
Gross Profit	13.95B	14.54B	13.34B	8.23B	5.54B	2.83B
EBITDA	1.47B	357.97M	1.87B	-1.09B	323.39M	-13.22B
Net Income	726.87M	726.87M	1.12B	-1.43B	157.15M	-13.32B
Balance Sheet
Total Assets	17.90B	17.90B	16.32B	9.77B	10.35B	3.03B
Cash, Cash Equivalents and Short-Term Investments	6.36B	6.36B	7.56B	2.99B	4.26B	1.85B
Total Debt	1.36B	1.36B	1.31B	921.90M	596.29M	19.74B
Total Liabilities	6.10B	6.10B	5.37B	3.71B	3.29B	20.68B
Stockholders Equity	11.80B	11.80B	10.95B	6.06B	7.06B	-17.65B
Cash Flow
Free Cash Flow	0.00	850.67M	2.24B	-554.61M	419.60M	309.87M
Operating Cash Flow	0.00	1.02B	2.35B	-515.54M	445.88M	320.07M
Investing Cash Flow	0.00	-1.45B	-4.70B	339.52M	-5.00B	-206.06M
Financing Cash Flow	0.00	-311.12M	3.37B	-140.56M	4.81B	-12.77M

Honasa Consumer Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 284.70
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HONASA, the sentiment is Negative. The current price of 284.7 is below the 20-day moving average (MA) of 300.01, below the 50-day MA of 287.28, and above the 200-day MA of 263.42, indicating a neutral trend. The MACD of 1.28 indicates Positive momentum. The RSI at 36.39 is Neutral, neither overbought nor oversold. The STOCH value of 20.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HONASA.

Honasa Consumer Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
COLPAL	69 Neutral	₹604.66B	43.39	86.32%	2.29%	2.12%	-1.45%
GODREJCP	66 Neutral	₹1.19T	64.16	15.43%	1.72%	5.12%	―
EMAMILTD	66 Neutral	₹244.94B	29.77	29.93%	1.43%	4.06%	10.78%
MARICO	59 Neutral	₹906.35B	54.17	40.98%	1.50%	16.58%	9.72%
DABUR	58 Neutral	₹886.31B	49.73	16.37%	1.60%	-0.03%	-5.22%
HONASA	50 Neutral	₹92.63B	125.51	―	―	4.91%	-55.92%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%