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Swing Capital

Honasa Consumer Ltd

NSE: HONASA BSE: 544014IT / Software

Incorporated in 2016, Honasa Consumer Limited (HCL) provides beauty and personal care products through its digital platform.[1]

₹346
52W: ₹248 — ₹365
PE 72.9 · Book ₹38.8 · +792% vs book
Market Cap₹11,274 Cr
Stock P/E72.9Price to Earnings
ROCE7.44%Return on Capital
ROE5.51%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company is almost debt free.

Weaknesses

  • −Stock is trading at 8.83 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Earnings include an other income of Rs.78.4 Cr.

Shareholding Pattern

Promoters35.54%
FIIs13.74%
DIIs19.24%
Public31.48%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters35.07%34.98%▼0.135.03%▲0.134.99%▼0.034.99%34.97%▼0.035.54%▲0.635.54%
FIIs13.95%19.31%▲5.415.44%▼3.915.55%▲0.116.09%▲0.515.5%▼0.614.62%▼0.913.74%▼0.9
DIIs17.36%17.49%▲0.118.45%▲1.018.49%▲0.018.9%▲0.419.15%▲0.318.64%▼0.519.24%▲0.6
Public33.62%28.23%▼5.431.07%▲2.830.97%▼0.130.02%▼0.930.36%▲0.331.19%▲0.831.48%▲0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales460451427544417505523584527587
Expenses415417398501447483499542483527
Operating Profit46342942-302224424461
OPM %10%8%7%8%-7%4%5%7%8%10%
Net Profit38292739-152525403848
EPS ₹2.770.90.821.21-0.460.760.761.231.181.48

AI Insights

Revenue Trend

TTM revenue at ₹2,220Cr, up 19% YoY. OPM at 8%.

Debt Position

Borrowings at ₹116Cr. Debt-to-equity ratio: 0.12x. Healthy balance sheet.

Institutional Flow

DIIs: 19.24% (+1.66pp change). FIIs: 13.74% (+3.62pp change). Promoters hold 35.54%.

Margin & Efficiency

ROCE improving from 0% (Mar 2019) to 7% (Mar 2025). Working capital days: -14.

Valuation

PE 72.9x with 7.44% ROCE. Price is 792% above book value of ₹38.8. Dividend yield: 0%.

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