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Honasa guides early-30s NSV growth for Q2 FY27 as younger brands outpace Mamaearth
Honasa Consumer expects Q2 FY27 net sales value growth in the early-thirties year-on-year, with Mamaearth at high-teens and younger brands at mid-forties. Offline channels led growth through deeper general trade distribution. In Q1 FY27, operating revenue grew 27% to Rs 756 crore.
The numbers
Figures from Entrackr
| Q1 FY27 profit: | Rs 90 crore |
|---|
Why it matters to operators and investors
Honasa is guiding offline, general-trade-led growth, so rival beauty brands and distributors should expect tougher competition for shelf space and distributor attention as its deeper GT reach scales its younger brands.
What to watch next
- Q2 FY27 reported NSV growth against the early-thirties guide
- Mamaearth growth against the high-teens guide, and younger brands against mid-forties
- Operating margin against the early double-digit guide
- Management commentary on general trade reach and offline share of sales
- Q3 FY27 outlook, and whether growth stays near the 27% Q1 revenue pace (Rs 756 crore)
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Honasa is likely to keep adding general trade distribution, since offline led growth and the guide depends on it.
- Expect Honasa to put more marketing and portfolio weight behind the younger brands, which are guided to mid-forties growth against high-teens for Mamaearth.
- Honasa management may stress that operating margin stays at early double digits while it invests in reach, and frame growth as profitable rather than bought.
- Rival beauty and personal care companies may step up offline distribution and trade promotions to defend shelf space in the channels Honasa is entering.
- Analysts are likely to model the group's growth as increasingly dependent on the younger brands and to watch Mamaearth's slower pace for signs of maturity.
The source
Filed
Confirmed by Storyboard18, NDTV Profit, Inc42, Business Today, Moneycontrol, The Hindu BusinessLine, Financial Express, ET Retail, Mint
First seen