Honasa reported product business growth of 20.3% with underlying volume growth (UVG) of 25.2%.
Earnings before interest, taxes, depreciation and amortization (EBITDA) margin increased 201 basis points year-on-year to 8.3%, resulting in EBITDA of Rs 46 crore.
The operator of the Mamaearth brand attributed the strong performance to improvements in gross profit margin and economies of scale.
“The company’s achievements reflect a determined commitment to expanding its position in the beauty and personal care industry. By consistently delivering market-beating growth and outperforming the competition, the company reaffirms its commitment to innovation and strategic market expansion as key factors in its continued success,” the company said in a statement.
Mamaearth emerged as one of the fastest-growing brands in key categories such as face wash and shampoo in the offline channel in the first quarter of FY 2025, according to Nielson, becoming the fourth largest face wash brand in modern retail, the company filing said, adding that the brand reached nearly 200,000 FMCG retail stores in India by June 2024, increasing distribution by 30% year-on-year.
New products accounted for around 9% of operating revenue in the first quarter of fiscal year 2025.
Key innovations this quarter include facial cleanser, Mamaearth Rice Water Dewy Sunscreen, The Derma Co Snail Peptide 96 Hydrating Serum, Aqualogica Glow+ Infused Tinted Sunscreen, Dr Sheth’s Kesar & Kojic Acid Serum and Bblunt Refresh Dry Shampoo.
The beauty and personal care company said its business remains capital efficient, with a negative working capital cycle of 12 days.
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