Honasa Consumer Limited has filed its Monitoring Agency Report for the quarter ended March 31, 2026, pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The report has been prepared by ICRA Limited, the appointed Monitoring Agency, and confirms that the utilisation of IPO proceeds remains fully aligned with the objects of the issue as disclosed in the offer document.

IPO and Issue Details

The company's Initial Public Offer opened on October 31, 2023, and closed on November 02, 2023. The key parameters of the issue are summarised below:

Utilisation of IPO Proceeds

As of March 31, 2026, Honasa Consumer has cumulatively utilised INR 315.266 Crore out of the total net proceeds of INR 350.492 Crore. The table below presents the progress of utilisation across all four objects of the issue during Q4FY26:

A notable development during Q4FY26 relates to the general corporate purposes and unidentified inorganic acquisition head. As on March 23, 2026, the company transferred INR 34.269 Crore from the monitoring account to the current account towards utilisation for an unidentified inorganic acquisition. This expenditure had been initially incurred during Q3FY26 out of internal funds and was subsequently reimbursed from the monitoring account during Q4FY26. The amount had been inadvertently utilised during Q3FY26 and was subsequently transferred back to the monitoring account on February 02, 2026.

Deployment of Unutilised Proceeds

The total unutilised amount of INR 35.226 Crore has been deployed across fixed deposits and monitoring account balances. The details of deployment as at March 31, 2026 are as follows:

Note: Entries marked # represent fixed deposits and balances held by subsidiaries Bhabani Blunt Hairdressing Private Limited and B Blunt-Spratt Hairdressing Private Limited out of funds invested by Honasa Consumer Limited. The total amount invested of INR 35.228 Crore is higher than the total unutilised amount as it includes INR 0.002 Crore representing interest to be transferred from the monitoring account to the current account. Exact earnings and market value will be available on redemption/realisation of fixed deposits.

Implementation Schedule and Compliance Status

All four objects of the issue remain on schedule with no delays reported. The Monitoring Agency confirmed no deviation from the objects of the issue, no change in the means of finance, no major deviation over earlier monitoring agency reports, and no material events—favourable or unfavourable—affecting the viability of the objects. Shareholder approval for material deviations was not required, as none were observed.

The General Corporate Purposes head totalling INR 121.892 Crore has been fully utilised, comprising payments for the purchase of traded goods and/or services across multiple quarters and an unidentified inorganic acquisition of INR 34.269 Crore in Q4FY26. The report was certified by S.R. Batliboi & Associates LLP and signed by Parul Goyal Narang, Vice President & Head – Process Excellence, ICRA Limited, on May 08, 2026. The disclosure was filed with the stock exchanges by Company Secretary and Compliance Officer Gaurav Pandit on May 11, 2026.

Mamaearth parent Honasa Consumer Limited has announced a change in its senior management, with Mr. Yatish Bhargava tendering his resignation from the role of Chief Business Officer. The company made this disclosure on May 9, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Bhargava cited personal circumstances as the sole reason for his decision to step down.

Senior Management Change Details

The company formally notified both the National Stock Exchange of India Limited and BSE Limited of the development. As per the disclosure, Mr. Bhargava's cessation from the position of Chief Business Officer and from the Senior Management of the company will be effective from the close of business hours on May 15, 2026. The details of the change, as mandated under Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026, are outlined below.

Resignation Communication

In his resignation letter addressed to Varun Alagh and dated May 9, 2026, Mr. Bhargava formally tendered his resignation from the position of Chief Business Officer, effective May 15, 2026. He stated that the decision stemmed solely from personal circumstances requiring his immediate attention, and expressed gratitude for the opportunity and trust extended to him during his tenure. The resignation letter was enclosed as an annexure to the regulatory disclosure filed with the stock exchanges.

Regulatory Compliance

The disclosure was signed and submitted by Gaurav Pandit, Company Secretary and Compliance Officer of Honasa Consumer Limited, on May 9, 2026. The company confirmed that the disclosure would also be hosted on its official website at www.honasa.in . Honasa Consumer Limited is registered with CIN: L74999DL2016PLC306016, with its registered office located at Unit No - 404, 4th Floor, City Centre, Plot No 05, Sector-12, Dwarka, New Delhi - 110075, and its corporate office at 10th & 11th Floor, Capital Cyberscape, Sector-59, Gurugram, Haryana - 122102.