However, the shares pared some gains to trade at INR 515.9, up 2.32% from the previous close of INR 504
The stock increased 14.4% on a year-to-date basis
At the time of publishing this article, the company was valued at over INR 16,709 Cr
Shares of Honasa surged over 5.3% to INR 531.2 during the intraday trading on the BSE today (September 3), a day after the company approved allotment of 5.79 Lakh equity shares to its eligible employees under its employee stock option plan (ESOP).
However, the shares pared some gains to trade at INR 515.9 at 12.45 PM, up 2.32% from the previous close of INR 504.
The stock increased 14.4% on a year-to-date basis.
At the time of publishing this article, the company was valued at over INR 16,709 Cr.
This comes at the heart of Honasa undergoing several changes in recent times. For instance, last month, it discontinued the ayurvedic beauty products brand Ayuga to rationalise its brand portfolio.
In the same month, it also received a respite from Delhi HC which ruled to imposed an interim stay on the Dubai court’s order to Honasa Consumer over INR 57 Cr compensation. The Dubai court previously instructed the company’s former distributor RSM General Trading to revoke its execution proceedings in Dubai against Honasa.
Honasa made its market debut last year on November 7 with its shares listed at INR 330 and INR 324 apiece at NSE and BSE respectively. The issue price of the share was INR 324 per piece.
Founded in 2016 by the husband-wife duo Varun and Ghazal Alagh, Honasa’s product portfolio comprises six beauty and personal care brands which include Mamaearth, The Derma Co., Aqualogica, Ayuga, BBlunt and Dr. Sheth’s.
On the financial front, it posted a 62.9% jump in its profit after tax (PAT) to INR 40.2 Cr in the June quarter (Q1) of the financial year 2024-25 (FY25) from INR 24.7 Cr in the year-ago quarter on the back of an increase in the sales of its beauty products.
Mamaearth’s operating revenue witnessed a strong growth of 19.3% on a year-on-year (YoY) basis and 17.3% sequentially to increase to INR 554 Cr in the reported quarter.
