Mamaearth Q2 results: In Q2FY24, the company’s consolidated revenue from operations increased by 21% to Rs 496 crore.
Honasa Consumer Pvt. Ltd., the parent company of Mamaearth and The Derma Co., reported a 93% increase in consolidated net profit to Rs 29 crore for the quarter ending September 30, 2023, on Wednesday. In the previous fiscal year, it reported a consolidated net profit of Rs 15 crore. The company’s consolidated income from operations increased by 21% to Rs 496 crore in Q2 FY24, up from Rs 410 crore the previous year. Honasa’s stock closed roughly 5% lower on the BSE on Wednesday, at Rs 349.
“With a diverse portfolio of six brands, we are India’s largest digital-first Beauty and Personal Care (BPC) company.” “Each brand in our portfolio has a differentiated value proposition, allowing us to acquire new users with distinct needs and preferences while increasing share of wallet from existing consumers,” the company stated in its first earnings statement after becoming public.
Varun Alagh, a former Hindustan Unilever executive, and his wife Ghazal started Honasa Consumer in 2016. According to market data, Mamaearth’s initial public offering (IPO) was 7.6 times oversubscribed, netting bids totaling Rs 7,130 crore. According to the data, investors bid for more than 220 million shares, compared to the 28.9 million shares on offer, with institutional investors exhibiting the strongest interest.
“Honasa has been able to deliver market-beating growth and constantly improve the profitability portfolio of the company. Our business has grown by 33 percent year-over-Y in H1 FY24, which is 3.8 times the median growth of FMCG companies in India,” said Varun Alagh, Chairman and CEO.
Mamaearth IPO
The Mamaearth IPO comprises of an offer for sale (OFS) of approximately 4.12 crore shares and a fresh issue of 365 crore shares. Honasa promoter Varun Alagh will sell 3,186,300 shares in the IPO, while his wife Ghazal Alagh will sell up to 100,000 shares.
Frequently asked questions
Is Mamaearth Indian brand?
It is an Indian firm that provides a variety of cosmetic goods to improve its clients’ everyday skin care regimen. Varun Alagh and Ghazal Alagh launched the company in 2016. They began the firm with a personal investment of approximately INR 90 lakh.
Which company owns Mamaearth?
Varun Alagh is the Co-Founder and Chief Dad of Honasa Consumer Private Limited, which in November 2016 launched its first-ever infant nourishment brand, Mamaearth. The company is headquartered in Gurugram, India. Mamaearth has been designated as Asia’s first MadeSafe-certified brand.
What is the face value of Mamaearth shares?
The Mamaearth IPO price range was established at 308–324 per equity share with a face value of 10 each, a lot size of 46 equity shares, and subsequent multiples of 46 equity shares.
Is Mamaearth really chemical free?
They are proud to be India’s only “Made Safe” certified toxin-free brand, free of all known chemicals that are banned in most countries. More significantly, we are more than a brand; we manufacture our items with love and care. We utilize the products we sell for our own children.
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