Honasa Consumer (HONASA) Q4 25/26 earnings summary

Executive summary

• Achieved record quarterly revenue of INR 682 Cr in Q4 FY26, up 28% YoY, and full-year revenue of INR 2,479 Cr, up 20% YoY; consolidated revenue for FY26 was ₹23,919.42 million.

• EBITDA more than doubled YoY in both Q4 and FY26, with margins improving to 11.3% and 9.3% respectively.

• PAT for Q4 FY26 reached INR 69 Cr (10.2% margin), and INR 200 Cr for FY26 (8.1% margin), both up over 175% YoY; consolidated PAT for FY26 was ₹2,001.90 million.

• Board approved the first-ever dividend payout of INR 3/share, totaling INR 98 Cr, representing about 50% of PAT, pending shareholder approval.

• Key board actions included re-appointment of an independent director, appointment of new internal auditors, and additions to senior management.

Financial highlights

• Q4 FY26 revenue from operations: INR 682 Cr (highest ever), 28% YoY growth; FY26 revenue: INR 2,479 Cr, 20% YoY growth; consolidated revenue for FY26: ₹23,919.42 million.

• Gross profit margin improved to 71.4% in Q4 and 71.2% for FY26.

• EBITDA for Q4: INR 77 Cr (11.3% margin); FY26: INR 231 Cr (9.3% margin).

• PAT for Q4: INR 69 Cr (10.2% margin); FY26: INR 200 Cr (8.1% margin); consolidated PAT: ₹2,001.90 million.

• Free cash flow for FY26: INR 134 Cr; negative working capital cycle maintained.

Outlook and guidance

• Confident of sustaining high-teens CAGR over the next five years, with focus on expanding nutraceuticals and inside-out beauty solutions.

• Targeting 500 bps EBITDA margin improvement over five years (100 bps per year).

• Continued investment in talent and leadership to drive new business growth.

• Ongoing innovation and scaling of hero products and younger brands.

• Young brands and focus categories to remain key growth drivers.