Honasa Consumer Expects Early-Thirties NSV Growth in Q2 FY27
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Khushi Jain
- October 6, 2026
Honasa Consumer, the parent company of Mamaearth, expects its net sales value (NSV) to grow in the early-thirties year-on-year during the second quarter of FY27, as the beauty and personal care company continues the momentum recorded in the previous quarter.
The company attributed the expected growth to broad-based traction across its focus categories and brands, according to a quarterly update filed with the stock exchanges.
Mamaearth, Honasa’s largest brand, is expected to report high-teens YoY growth in NSV during the quarter ended September 2026. The company said the growth was supported by higher brand affinity and an expansion of its offline footprint.
Meanwhile, Honasa’s younger brands, including The Derma Co., Aqualogica, BBlunt, Dr. Sheth’s, Staze, Lumineve and Reginald Men, are expected to record around mid-forties YoY growth in NSV during the quarter.
The offline channel continued to lead Honasa’s growth, with both general trade and modern trade expected to post strong growth. The company attributed the performance to deeper direct distribution in general trade and better execution at the point of sale.
Its online business is also expected to maintain its growth momentum during the quarter.
On the profitability front, Honasa expects to maintain an early double-digit operating margin profile in Q2 FY27, with strong year-on-year improvement during the quarter.
The company clarified that the quarterly update is provisional and subject to limited review by its statutory auditors. Detailed Q2 FY27 financial results will be released following approval from its board.
In Q1 FY27, Honasa Consumer’s operating revenue grew 27% year-on-year to Rs 756 crore, while its profit more than doubled to Rs 90 crore during the quarter.
As of 9:20 AM on Tuesday, Honasa Consumer’s shares rose around 5% to Rs 465 per share following its strong Q2 FY27 growth projections, giving the company a market capitalization of around Rs 15,175 crore.
FAQs
1. What NSV growth does Honasa Consumer expect in Q2 FY27?
Honasa Consumer expects its NSV to grow in the early-thirties year-on-year during Q2 FY27.
2. How is Mamaearth expected to perform in Q2 FY27?
Mamaearth is expected to post high-teens YoY growth in NSV during the quarter ended September 2026.
3. Which Honasa brands are expected to record mid-forties NSV growth?
The company’s younger brands, including The Derma Co., Aqualogica, BBlunt, Dr. Sheth’s, Staze, Lumineve and Reginald Men, are expected to record around mid-forties YoY growth in NSV.
4. What operating margin does Honasa expect in Q2 FY27?
Honasa expects to maintain an early double-digit operating margin profile in Q2 FY27.
5. What was Honasa Consumer’s Q1 FY27 operating revenue?
Honasa Consumer’s operating revenue grew 27% year-on-year to Rs 756 crore in Q1 FY27.
