Mamaearth , the parent company of popular personal care brand Mamaearth, held its 9th Annual General Meeting (AGM) on September 25, where shareholders approved several important resolutions, including the re-appointment of an independent director and the appointment of a new secretarial auditor.

Key Appointments Approved

The shareholders of Mamaearth gave their nod to the re-appointment of Mr. Vivek Gambhir as an Independent Director for a second five-year term, effective from March 24, 2026, to March 23, 2031. Mr. Gambhir, who holds degrees from Lafayette College and Harvard Business School, brings over three decades of experience in operations and strategy to the board. He is currently associated with Lightspeed India Ventures and has previously held leadership positions at companies like Imagine Marketing Limited (boAt Lifestyle) and Godrej Consumer Products Limited.

In addition to Mr. Gambhir's re-appointment, the shareholders also approved the appointment of Arora Shekhar and Company as the company's Secretarial Auditor for a five-year term from April 1, 2025, to March 31, 2030. The Delhi-based practicing company secretary firm, established in 2013, specializes in secretarial audit, corporate law, securities law, and corporate governance.

Other AGM Proceedings

The AGM, conducted through video conferencing, saw the approval of several other resolutions, including:

1. Adoption of audited standalone and consolidated financial statements for the financial year 2024-25
2. Re-appointment of Mr. Ishaan Mittal as a Director, who was retiring by rotation

Voting Results

The company reported strong shareholder support for all resolutions presented at the AGM. Notably:

Management Commentary

Mr. Varun Alagh, Chairman, CEO, and Whole Time Director of Mamaearth, chaired the meeting and delivered a speech to the shareholders. The company's management also addressed queries raised by speaker shareholders during the Q&A session.

The AGM proceedings reflect Mamaearth's commitment to maintaining strong corporate governance practices and ensuring continuity in its board composition. The re-appointment of Mr. Gambhir and the selection of a new secretarial auditor demonstrate the company's focus on leveraging experienced professionals to support its growth trajectory in the competitive personal care products market.

Mamaearth , the parent company of popular beauty and personal care brands, has reported its highest-ever quarterly revenue in Q1, signaling robust growth and market expansion. The company also outlined ambitious plans for future growth and margin improvements.

Record-Breaking Q1 Performance

For the quarter ended June 30, Honasa Consumer achieved consolidated revenue from operations of ₹5,952.54 crore, marking a 7.4% year-on-year growth. This represents the company's highest quarterly revenue to date, demonstrating its strong market position and growing consumer demand for its products.

Profit and Margin Improvements

The company reported a consolidated profit after tax of ₹413.25 crore for Q1, showcasing its ability to translate revenue growth into bottom-line results. Notably, Honasa Consumer's EBITDA margin improved to 7.7%, up from 5.1% in the previous quarter, reflecting enhanced operational efficiency.

Focus on Key Categories

Honasa Consumer's growth strategy centers on its focus categories, which now contribute approximately 80% of its revenue. These categories, including face cleansers, shampoos, face serums, suncare, moisturizers, and lipsticks, experienced double-digit year-on-year growth in Q1.

Expanding Offline Presence

The company continues to strengthen its offline distribution network. As of the end of the quarter, Mamaearth products were present in 2,40,113 FMCG retail outlets across India, representing a 20% year-on-year increase in distribution. The company also reported a 50% year-on-year increase in direct outlet billing through distributors in Q1.

Innovation and Product Development

Honasa Consumer maintains a strong focus on innovation, launching new products across its brand portfolio. Notable launches in Q1 included The Derma Co's Peptide-Stem Cell Hair Fall Control Shampoo and Aqualogica's radiance+ Oil Control Fluid Sunscreen, addressing specific consumer needs in hair care and sun protection.

Future Outlook

Looking ahead, Honasa Consumer expects to maintain strong double-digit growth. The company aims to sustain EBITDA margins near 7% and projects annual margin improvements of 100-150 basis points over the next 5-6 years, indicating a focus on both top-line growth and profitability enhancement.

Leadership Changes

To support its growth trajectory, Honasa Consumer has strengthened its leadership team. The company appointed Yatish Bhargava as Chief Business Officer and elevated Avinash Dhagat to Chief Supply Chain Officer and Karan Veer Singh Bajwa to Chief Human Resources Officer.

Varun Alagh, Chairman, Whole Time Director and CEO of Honasa Consumer Limited, commented on the results: "Q1 marked a strong start to the year, with Honasa delivering its highest-ever quarterly revenue of ₹595.25 crore and a record quarterly profit of ₹41.33 crore, supported by a sequential improvement in EBITDA margin to 7.7%."

As Honasa Consumer continues to expand its product portfolio and distribution network, the company appears well-positioned to capitalize on the growing demand for beauty and personal care products in the Indian market. With its focus on innovation, operational efficiency, and strategic growth initiatives, Honasa Consumer aims to maintain its strong performance in the coming years.