Shares of Honasa Consumer Limited surged over 6 per cent to hit a fresh 52-week high of ₹398 on the NSE Friday morning, with the stock trading around ₹382 as of 11 am, up ₹21.90 from Thursday’s close of ₹360.50. The stock has clocked nearly 35 per cent returns year-to-date, sharply outpacing the Nifty 500’s 5 per cent decline over the same period. Buy orders dominated early trade, with roughly 70 per cent of volume on the buy side and traded value already crossing ₹975 crore.

The rally follows Q4FY26 results announced on the last trading day, with brokerages largely reacting positively. CLSA maintained an Outperform rating with a target price of ₹434, noting that revenue came in 4-6 per cent ahead of both its own estimate and consensus, while EBITDA beat by 19-24 per cent. Jefferies was more bullish, retaining a Buy with a ₹565 target, calling the company’s turnaround complete and flagging management guidance of high-teens revenue growth with 100 basis points annual EBITDA expansion as a “compounding story in the making.” JM Financial raised its target to ₹420 from ₹375, citing strong execution on both revenue and margins, and lifted FY26-28 earnings estimates by 9-12 per cent.

Three themes stood out for analysts: Mamaearth returning to mid-teens growth with management confident of sustaining double-digit momentum; general trade and modern trade offtake both up 30 per cent year-on-year signalling genuine brand traction beyond digital; and operating leverage driving margin expansion well above expectations.

On reported numbers, Honasa posted Q4 revenue of ₹657 crore, EBITDA of ₹77 crore at an 11.3 per cent margin — up over 185 per cent year-on-year — and profit after tax of ₹69 crore. For the full year FY26, revenue stood at ₹2,479 crore, up approximately 20 per cent, while EBITDA tripled to ₹231 crore. The board has also recommended the company’s maiden dividend of ₹3 per share, totalling approximately ₹98 crore. The stock currently trades at a PE of 58.55.

More Like This

Published on May 22, 2026