During the quarter, the company clocked its highest ever profit after tax. By consistently outpacing market growth, the company reaffirms their dedication to innovation and strategic market expansion, thereby strengthening their presence in the beauty and personal care industry, said the firm.

Revenue from operations jumped 21.46% to Rs 471.09 crore in Q4 FY24 as against Rs 387.86 crore recorded in corresponding quarter last year.

The company reported profit before tax of Rs 39.25 crore in Q4 FY24 as compared with pre-tax loss of Rs 160.82 crore posted in Q4 FY23.

During Q4 FY24, the company reported a positive EBITDA of Rs 33 crore as against a negative EBITDA Rs 3 crore posted in Q4 FY23. EBITDA margin surged to 7% in Q4 FY24 as against 0.8% reported in Q4 FY23.

Honasa Consumer continued to deliver disruptive growth in Q4, much ahead of FMCG industry, with 23% (like-for-like) YoY revenue growth, it added.

On full year basis, the company’s consolidated net profit stood at Rs 111.78 crore in FY24, as against a net loss of Rs 142.81 crore reported in FY23. Revenue from operations was at Rs 1,919.9 crore during the quarter, registering a growth of 28.61% YoY.

Varun Alagh, chairman and CEO, Honasa Consumer, said, “Despite industry headwinds, Honasa has demonstrated remarkable resilience and growth for the quarter and fiscal, with a robust LFL growth of 23.3% for the quarter and 31.6% annually. Mamaearth's unwavering popularity among consumers has been a key driver of our continued success, while The Derma Co's is catching up and has recently achieved an ARR of Rs 500 crore and more highlighting our ability to craft and scale new-age beauty brands.

Meanwhile, the company’s board has approved an asset purchase agreement with Cosmogenesis Cosmetics, a sole proprietorship, based out of Thane, Maharashtra to purchase identified assets and intellectual properties as part of this agreement which will benefit the company in expanding the R&D and manufacturing capabilities, it added.

The total cash consideration to be paid post-closing, for the identified assets is Rs 4 crore. The indicative time period for completion of the acquisition is July 2024.

Explaining the objectives, Honasa Consumer said that the acquisition will assist in expanding its R&D capabilities by acquiring over 4,000+ formulations in beauty and personal care category. The company would be acquiring formulations expertise, research & development lab along with a small manufacturing facility.

Honasa Consumer is the largest digital-first beauty and personal care company with a diverse portfolio of six brands. Uniquely positioned to capture the growth trends shaping in the BPC market, the company is building brands through on trend data-based innovation and strong omnichannel distribution.