The stock has surged 36% in two sessions. The company announced its Q2FY24 result on 22nd November 2023. Its consolidated net profit surged 93.75% to Rs 29.43 crore in Q2 FY24 as compared with Rs 15.19 crore in Q2 FY23. Revenue from operations increased 20.86% YoY to Rs 496.10 crore in Q2 FY24, driven by volume growth of 27% YoY. Profit before tax stood at Rs 39.20 in Q2 FY24, up 69.33% YoY.

EBITDA stood at Rs 40 crore in Q2 FY24, registering a growth of 53% as compared with Rs 26 crore posted in the same quarter previous fiscal. EBITDA margin improved by 169 bps to 8.1% in Q2 FY24 as against 6.4% in Q2 FY23. Like-for-like growth for continuing business was 24%.

The IPO of Honasa Consumer was subscribed 7.61 times. The issue was open between 31st October and 2nd November 2023. The price band of the IPO was fixed at Rs 308-324 per share.

The offer comprised fresh issue of equity shares worth up to Rs 365 crore and an offer for sale of 4,12,48,162 equity shares worth Rs 1336.44 crore by existing shareholders.

The objectives for the fresh issue included advertisement expenses worth Rs 182 crore towards enhancing the awareness and visibility of brands, capital expenditure worth Rs 20.6 crore for setting up new EBOs, investment of Rs 26 crore in BBlunt for setting up new salons, and the remaining amount for general corporate purposes.

Incorporated in 2016, Honasa Consumer provides beauty and personal care products through its digital platform. The company owns new-age FMCG brands such as Mamaearth, The Derma Co., Aqualogica, Dr. Sheth‘s, BBlunt and Ayuga.

Honasa Consumer was the largest digital-first beauty and personal care (BPC) company in India in terms of revenue in FY23. As of 30 June 2023, its portfolio of brands includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments.