Honasa Consumer Ltd, the parent company of digital-first beauty giant Mamaearth, announced a powerful set of financial results for the third quarter ended December 31, 2025. On February 12, 2026, the company reported that its consolidated net profit nearly doubled, surging 93.1% year-on-year to ₹50.2 crore, up from ₹26 crore in the same period last year.
The results triggered a rally in the company’s stock, which jumped over 6.5% to hit an intraday high of ₹319 on the NSE the following morning.
Q3 FY26 Financial Snapshot
The company achieved its “highest-ever quarterly revenue” on a like-for-like (LFL) basis, signaling a strong recovery from the distribution transitions that impacted the previous fiscal year.
| Metric | Q3 FY25 | Q3 FY26 | Change (YoY) |
| Revenue from Operations | ₹517.5 Cr | ₹601.5 Cr | ↑ 16.2% |
| Consolidated Net Profit | ₹26.0 Cr | ₹50.2 Cr | ↑ 93.1% |
| EBITDA | ₹26 Cr | ₹66 Cr | ↑ 151% |
| EBITDA Margin | 5.0% | 10.9% | ↑ 590 bps |
Note: On a Like-for-Like (LFL) basis, revenue stood at ₹630 crore, representing a 21.7% growth.
Portfolio Performance: Mamaearth’s Comeback
A key highlight of the quarter was the return of the flagship brand, Mamaearth, to healthy growth levels. After a period of relative stagnation due to inventory restructuring (Project Neev), the brand is back in the green.
- Flagship Growth: Mamaearth returned to double-digit growth (teens), driven by high-performing products like the Rice Face Wash.
- Younger Brands: The company’s portfolio of newer brands—including The Derma Co., Aqualogica, BBlunt, and Dr. Sheth’s—continued their aggressive trajectory, growing at over 25% YoY.
- The Derma Co. Success: The science-backed skincare brand sustained a strong double-digit EBITDA profile while scaling rapidly.
Operational Efficiency and Expansion
The sharp rise in profit was not just due to sales but also improved operating leverage.
- Advertising Costs: While absolute ad spend rose slightly to ₹186 crore, it fell as a percentage of revenue to 30.9% (down from 34.3% in Q3 FY25).
- Distribution Reach: Honasa’s total distribution expanded by 25% YoY to reach 2.7 lakh outlets, with direct outlet coverage crossing the 1 lakh milestone.
- New Frontiers: During the quarter, Honasa made a strategic entry into the men’s grooming market by acquiring a 95% stake in Reginald Men (BTM Ventures) for ₹195 crore.
“Our flagship brand, Mamaearth, is back to double-digit growth, driven by product superiority and sharper investments. We remain committed to building scale through disciplined execution.” — Varun Alagh, Chairman and CEO, Honasa Consumer.
