Honasa Consumer Limited, the parent company of Mamaearth and other personal care brands, reported a steady performance in the third quarter of FY26, with revenue growth supported by improved profitability and disciplined spending.
The Gurugram based FMCG firm recorded revenue from operations of ₹602 crore in Q3 FY26, marking a 16.2% year-on-year increase from ₹518 crore in Q3 FY25, according to filings with the National Stock Exchange (NSE). Including ₹21 crore in non-operating income, total revenue stood at ₹622 crore during the quarter.
Nine-Month Performance Remains Strong
For the nine months ended December 2025, Honasa’s operating revenue rose 13.2% to ₹1,735 crore compared to ₹1,533 crore in the same period last year, reflecting sustained demand across its product portfolio.
While the company did not disclose a brand-wise revenue split for the quarter, procurement of products remained the largest cost component, accounting for 34% of total expenditure. Procurement expenses rose 19.6% to ₹189 crore in Q3 FY26 from ₹158 crore in Q3 FY25.
Employee benefit expenses increased 18% to ₹71 crore, while marketing, rent, legal, and other overheads pushed overall expenditure up 8.5% to ₹550 crore from ₹507 crore in the year-ago quarter.
Profitability Improves Sharply
Honasa’s profit after tax (PAT) surged 93% year-on-year to ₹50 crore in Q3 FY26, compared to ₹26 crore in Q3 FY25. On a sequential basis, PAT grew 28% from ₹39 crore reported in Q2 FY26, indicating improving operating leverage.
Strategic Expansion and Stake Consolidation
During the quarter, Honasa strengthened its portfolio by acquiring a 95% stake in South India focused men’s grooming brand Reginald Men for ₹195 crore via a secondary transaction. The move marks its formal entry into the men’s grooming segment.
Additionally, co-founder Varun Alagh increased his stake to 32.45% through a ₹50 crore block deal, signaling promoter confidence in the company’s growth trajectory.
At the close of trading, Honasa’s shares were priced at ₹298, valuing the company at approximately ₹9,725 crore ($1.1 billion).
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