Honasa, the leading organization in its industry, has delivered impressive results for the quarter with a 21% YoY increase in topline, achieving a noteworthy Rs 496 crore. The like-for-like growth from continuing business also stood at an impressive 24%. The company’s sales growth was driven by a remarkable 27% YoY jump in volumes, further showcasing the company’s commitment to delivering quality products and services to its customers.
Honasa Consumer Ltd, Mamaearth’s parent company, saw its shares jump 15.27% to an all-time high of Rs 487 in Friday’s trade. The stock has surged 38.31% in just two days. Honasa reported a 21% YoY increase in its topline to Rs 496 crore, with sales aided by a 27% YoY jump in volumes.
Jefferies raised Honasa’s target price to Rs 530 and upgraded EPS by 5-6% due to a strong topline and margin growth. Honasa has emphasized that investing in brands and distribution expansion will remain a key focus area with continued investments.
