Promoters of Honasa Consumer Limited have confirmed that no encumbrance was created on the equity shares held by them during the financial year ended March 31, 2026. The declaration was submitted by Varun Alagh on behalf of the promoters and members of the promoter group to the National Stock Exchange of India and BSE.

The disclosure was made pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. It confirms that no charges were created on the shares, either directly or indirectly, other than those already disclosed to the exchanges.

The list of individuals and entities covered under this declaration includes promoters Varun Alagh and Ghazal Alagh, along with members of the promoter group such as Mukesh Alagh, Jaspal Alagh, and Sunita Sahni. The promoter group also comprises entities like Ghazal Alagh LLP, Printech India, and Underneat Clothing Private Limited.

Promoter and Promoter Group Details

mamaearth has outlined a strategic roadmap to achieve ₹5,500+ Cr in revenue by FY31, leveraging an omni-channel approach and enhanced operational efficiencies. The company presented its vision during the Investor Day 2026 event on June 10, 2026, detailing plans to reach 15%+ EBITDA over the next five years. The presentation emphasized a transition from a digital-first model to a truly omni-channel distribution network, aiming to capitalize on the evolving Beauty and Personal Care (BPC) market in India.

The company addressed four key market myths, clarifying its growth trajectory and margin profile. Honasa stated that it has dominant market share in only 8 partitions out of a potential 100+ within the BPC category, indicating significant headroom for expansion. Regarding margins, the presentation highlighted that scaling into General Trade and Modern Trade channels would not negatively impact profitability, citing relative profitability multiples of 2.5x to 3x compared to the own platform. The firm also refuted claims of reduced brand spends, asserting that ~20% EBITDA is achievable through efficiencies in channel mix, performance spends, and procurement while maintaining similar brand investment levels.

Honasa’s strategy relies on six core pillars to drive the next phase of growth, labeled as Honasa 2.0. These pillars include shifting innovation from speed to velocity, moving from product parity to superiority, and adopting personalized and User Generated Content (UGC)-led communication. The company plans to utilize AI for execution in online channels and to win at 300,000+ BPC outlets offline. Additionally, a new brand-building playbook aims to achieve contribution margin neutrality by Year 2, down from four years in the previous model.

Financial Targets and Operational Levers

To achieve its financial goals, Honasa identified specific operational levers expected to drive a 500 basis points margin improvement by FY31. The company anticipates benefits from changing category mix, improved channel mix, and operating leverage.

Revenue and Channel Expansion

The revenue target of ₹5,500+ Cr by FY31 will be supported by a balanced contribution from various sales channels. The company projects growth across its own platform, e-commerce, quick commerce, general trade, and modern trade. The presentation also indicated expansion into new categories such as Nutraceuticals, Fragrances, and Oral Care to fuel this growth.