Brand Highlight: The Derma Co
Focus categories, including face cleanser, shampoo, face serum, suncare, moisturiser, baby, and lipstick, grew at over 35% during the quarter. General trade secondary sales grew 30%+ YoY with around 1,20,000 outlets directly billed through distributors in FY26, while modern trade offtake also grew 30%+ YoY across 10,000+ outlets.
The Derma Co continued to build momentum in Q4FY26, maintaining a double-digit EBITDA profile and expanding its presence across both online and offline channels.
The growth witnessed in the face cleansers category was two times that of the previous year in Q4 FY25 and is currently the third-largest category for the brand. The indexed search for face cleanser saw a growth of 50% compared to Q4 FY25 and Q4 FY26.
Honasa Consumer Maiden Dividend Declaration of ₹3
The Board of Directors, at their meeting held on May 21, 2026, recommended a maiden final dividend of ₹3 per equity share of face value ₹10 each (30% of face value) for the financial year ended March 31, 2026. The dividend is subject to approval by shareholders at the ensuing Annual General Meeting. If approved, it will be paid within 30 days from the date of the AGM. This is the first-ever dividend declared by the company since its listing.
Full Year FY26 Performance of Honasa Consumer
For the full year ended March 31, 2026, Honasa Consumer posted consolidated revenue from operations of ₹2,391.94 crore, up 16% on an annual basis from ₹2,066.95 crore in FY25.
Other income for the year stood at ₹83.58 crore, taking total income to ₹2,475.53 crore compared to ₹2,145.68 crore in FY25.
Total expenses for FY26 stood at ₹2,213.33 crore compared to ₹2,056.07 crore in FY25.
PBT for the year stood at ₹257.26 crore, up 187% on an annual basis from ₹89.61 crore in FY25. PAT for FY26 came in at ₹200.19 crore, up 175% on an annual basis from ₹72.69 crore in FY25. The full-year numbers put into perspective how far the business has come after a period of distribution restructuring and brand reinvestment, with EBITDA expanding 237% on an annual basis to ₹231 crore against ₹69 crore in FY25 and EBITDA margin widening to 9.7% from 3.3%.
Honasa Consumer’s Recent Developments
During the quarter ended March 31, 2026, Honasa Consumer acquired a 95% shareholding in BTM Ventures Private Limited, the brand behind "Reginald Men", for a purchase consideration of ₹197.96 crore. Both parties have an obligation to purchase and sell the remaining shares at a pre-agreed valuation, which has been treated as a derivative instrument and fair-valued through the profit and loss account.
During the last quarter ending on December 31, 2025, the company made an investment worth ₹10 crore towards a 25% shareholding in Couch Commerce Private Limited.
Distribution-wise, Project ‘Neev’: The company has shifted from an indirect mode of distribution to a direct mode of distribution in the top 50 cities during the year FY25. As of March 31, 2026, the outstanding provision against sales returns due to the switch has fallen drastically to ₹2.75 crore as compared to ₹63.52 crore outstanding as of March 31, 2025.
About Honasa Consumer Limited
Honasa Consumer Limited is an Indian company that offers its range of beauty and personal care products online. It is the leading digital-only beauty and personal care brand in India, established in 2016. It offers different brands under its name, like Mamaearth, The Derma Co, Aqualogica, Dr Sheth's, and Staze, among others. Products offered by the firm include skincare, haircare, baby care, and colour cosmetics.
