Honasa's Record Q4 Splits the Street: Jefferies Hikes TP to Rs 565, Citi Stays Sell at Rs 320
Mamaearth parent posted Q4 revenue of Rs 657 cr (+23% YoY) with EBITDA nearly tripling to Rs 77 cr and margin expanding to a record 11.7% from 5.1%. Net profit jumped to Rs 69 cr vs Rs 25 cr, with focus categories growing over 35%. Jefferies raised TP to Rs 565 (Buy); Citi lifted TP to Rs 320 but retains Sell, flagging sustainability of the margin print.
Honasa Consumer's Q4 saw revenue up 23% to Rs 657 cr and profit nearly tripling to Rs 69 cr, with record 11.7% EBITDA margin. Jefferies raised TP to Rs 565 (Buy); Citi hiked TP to Rs 320 but stays Sell on sustainability concerns.
Why this matters
Follows Honasa's maiden Rs 3/share dividend announcement tied to the same Q4 profit triple, and a recent AED 7.25M arbitration win against an ex-Dubai distributor, marking a turnaround quarter.
Retail-company signals steady at 890 in the last 90 days.