Mamaearth, The Derma Co., Aqualogica expected to power ~30% growth for parent Honasa 

Honasa Consumer Limited, the parent of beauty and lifestyle brands Mamaearth, The Derma Co. and Aqualogica, expects to report strong year-on-year revenue growth of around 30% for the quarter ended June 30, 2026 (Q1 FY27), the company said in a voluntary quarterly business update.

Growth split on the reported and adjusted basis

The company said it expects to deliver strong year-on-year growth in the mid-thirties this quarter, driven by sustained momentum across its focus categories. 

On a reported basis, adjusted for a change in revenue recognition policy by the Flipkart group affecting marketplace sellers, the company said it expects year-on-year growth in the mid-twenties for Q1 FY27.

Mamaearth accelerates, younger brands surge

Mamaearth, the company’s flagship brand, is expected to post high-teens year-on-year growth, powered by increasing consumer affection along with strengthening offline distribution. 

The company’s younger portfolio — The Derma Co., Aqualogica, BBlunt, Dr. Sheth’s, Staze, Lumineve and Reginald Men — is expected to continue its strong growth momentum, delivering growth in the early forties.

Offline channel remains key growth driver

General Trade and Modern Trade are expected to sustain strong growth momentum, aided by improving direct distribution reach in General Trade and strong in-store execution across both channels. The company’s online channel is also expected to deliver healthy growth over the period.

On profitability, Honasa said it expects to sustain its momentum, delivering a double-digit operating margin profile in Q1 FY27, aided by operating leverage from scale.

Founded in 2016 and headquartered in Gurugram, Honasa Consumer describes itself as India’s largest digital-first beauty and personal care company, built on a portfolio of brands positioned to capture emerging trends in the BPC market through data-driven innovation and an omnichannel distribution network.

Varun Alagh, co-founder and CEO of Honasa Consumer, is typically the public face of the company for Honasa. He co-founded the company with his wife, Ghazal Alagh, in 2016.

Bollywood actor Alia Bhatt is also closely associated with the brand. She is a co-founder/investor and the face of Mamaearth’s marketing campaigns.