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Thursday, February 29, 2024

Honasa Consumer plans to outgrow industry by two to 2.5 times next year

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Personal care business and Mamaearth parent company Honasa Consumer plans to outgrow its industry by between two and 2.5 times in the coming year. The business continues to capture the Indian market and is focusing on scaling up its younger brands. 

Honasa Consumer’s Mamaearth retails natural cosmetics and personal care products – Mamaearth- Facebook

“We intend to outgrow the industry by two to 2.5 times,” said Honasa Consumer’s CFO Ramanpreet Sohi, the Economic Times reported. “As we scale younger brands efficiently, we are also scaling up. We intend to unlock 100 to 150 bsp incremental operating margins year on year for the next two to three years. That will continue to unfold and ensure our bottom line growth and possibly top line growth.”
 
Honasa Consumer’s margin grew at 7.1% up 397 basis points year on year during the third quarter of the 2024 financial year which Soni referred to as structural growth. The business has witnessed a softening of consumer demand in line with the industry as a whole and has seen challenges in rural areas seep into metropolitan enclaves. However, the business is confident of continued forward momentum. 

Honasa Consumer is also focusing on expanding distribution for its brands including Mamaearth. The third quarter of the 2024 financial year saw the business increase distribution by 37% year on year to reach 1.7 lakh retail touch points. 

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