Honasa Consumer targets 15 per cent Ebitda margin while expanding its core beauty and personal care portfolio
Honasa Consumer, the parent company of Mamaearth, is targeting revenue of Rs 5,550 crore by FY31, more than doubling its FY26 income of Rs 475.53 crore. The company also expects its Ebitda margin to expand to 15 per cent over the next five years, founders Ghazal Alagh and Varun Alagh said.
The beauty and personal care company reported total income of Rs 475.53 crore in FY26, marking a 15.37 per cent year-on-year increase. Against this base, the FY31 revenue target represents a significant scale-up for Honasa, which is looking to strengthen its portfolio while expanding its presence across India’s fast-growing beauty and personal care market.
Outlining the company’s longer-term ambitions, Alagh and Alagh said Honasa intends to “become the fastest-growing company in Indian FMCG to reach Rs 5,000 crore” revenue mark. The founders expect the company to cross the Rs 5,500 crore revenue milestone by FY31 by focusing on brands that resonate strongly with Indian consumers.
The founders said the company plans to achieve the target by “building brands that are loved by Indian consumers”. Alongside revenue growth, Honasa is targeting a 15 per cent Ebitda margin, “unlocking a further 500 basis points as mix and scale move our way”, according to their message to shareholders in the Annual Report.
However, the founders cautioned that the revenue and profitability targets should not be viewed as the company’s ultimate objective. They said the financial outcomes would instead reflect Honasa’s ability to identify consumer needs, develop products, build brands and achieve profitability while scaling them.
“But the number is only ever a consequence. What we are really building is a company that can find a need, prove a product, scale a brand and make it profitable faster than anyone else and then simply do it again,” they said.
Honasa intends to retain a strong focus on a core group of categories that currently generate around 80 per cent of its revenue. These include face cleansers, shampoos, sunscreens, moisturisers, face serums, lipsticks and baby care, which the company sees as key areas for continued expansion.
At the same time, the company plans to broaden its presence beyond these established categories. The founders said Honasa would explore “newer partitions within existing and new categories”, indicating a strategy of extending its portfolio while continuing to build scale in segments where it already has a consumer presence.
