Honasa Consumer Q4 FY26: Profit up 177%, stock hits high

Stock hits 52-week high on heavy volumes

Honasa Consumer, the parent of Mamaearth, climbed sharply in Friday’s intra-day trade after reporting strong March-quarter numbers. The stock touched a 52-week high of ₹397.65 to ₹398 on the BSE, rising about 10%. At 09:28 AM, the shares were quoted at ₹389.95, up 8%, while the BSE Sensex was up 0.41%. The move was accompanied by heavy volumes, according to the trading updates cited.

The latest rally pushed the stock past its previous 52-week high of ₹364.80 recorded on May 15, 2026. The counter had earlier hit a record high of ₹546.50 on September 10, 2024, which remains its all-time high level referenced in the reports.

What the company reported for Q4 FY26

For Q4 FY26 (March 2026 quarter), Honasa Consumer reported a 177% year-on-year jump in consolidated net profit to ₹69 crore, compared with ₹25 crore a year earlier. Revenue from operations rose over 23% YoY to ₹657 crore versus ₹533 crore in Q4 FY25. EBITDA surged 186% YoY to ₹77 crore.

The operating performance also showed a sharp improvement in profitability metrics. EBITDA margin more than doubled to 11.7% during the quarter, as cited in one of the earnings reports. In a separate management commentary included in the supplied text, Honasa said Q4 FY26 revenue was ₹682 crore, gross margin was 71.4% (up 70 basis points YoY), and EBITDA was ₹77 crore (11.3%). The same commentary also put net profit at ₹69 crore (10.2%).

Like-to-like growth and what stood out

Alongside the headline numbers, the updates pointed to strong underlying demand. One brokerage note described Q4 FY26 profitability as “significantly ahead of expectations,” while also stating like-to-like (LTL) sales growth of 28% YoY.

The management commentary added that growth was “driven by volume not just price” and that the company continued to operate with negative working capital. Another market update around the quarter indicated the business was expected to deliver growth in the late twenties for Q4 FY26, driven by focus categories, with the company also flagging a revenue adjustment linked to changes in settlement by the Flipkart group affecting marketplace seller revenue recognition.

Brokerages react: targets move up

Brokerage reactions in the provided text were broadly positive. Analysts maintained a ‘BUY’ rating in one report with a revised target price of ₹420 (earlier ₹375). It also said that factoring a strong Q4, an upbeat outlook, and the Reginald acquisition, the brokerage raised its FY26-28E by 9-12%.

CLSA maintained its ‘Outperform’ rating with a target price of ₹434, stating it expects margin expansion to sustain as execution of the Mamaearth turnaround improves. Jefferies maintained a ‘Buy’ rating with a target price of ₹565, and noted performance improved further in the March quarter, led by mid-teen growth in Mamaearth, continued momentum in newer brands, and margins at record highs.

Dividend decision highlighted in the update

One part of the management commentary focused on shareholder payout. The company said the board decided to reward shareholders with a dividend on equity shares. It described this as about 50% of the profit generated for the full year, which it said was in excess of ₹200 crore. The commentary added that the total cash payout would be about ₹98 crore as part of this dividend.

How the move compares with earlier trading milestones

Recent trading updates in the supplied text also show the stock reacting strongly to operational and quarterly disclosures. In one separate update, Honasa shares were trading at ₹335.60 on the NSE, up 7.08%, after a Q4 FY26 operational update. That session saw an intraday high of ₹348.65 and a low of ₹316.60, with volume reported at 25,58,693 shares.

Another market note said Honasa rose 11% to a high of ₹348.65, and that about 5 million shares had traded on the NSE so far at that point. The company, in that update, said business growth was expected in the late twenties during Q4 FY26.

Key numbers at a glance

Market impact: what investors are reacting to

The immediate market reaction tracked two linked factors in the reports: sharp profit growth and a step-up in operating margin. With EBITDA rising to ₹77 crore and margins moving into double digits, the quarter reinforced the narrative of improving execution and operating leverage.

Brokerage commentary also matters for near-term price action, especially when target prices are revised higher or reaffirmed. The text cites multiple targets, including ₹420, ₹434, and ₹565, indicating a wide range of valuation views even as the rating stance stayed positive in those notes.

Why this quarter matters for the story

The supplied updates positioned Q4 FY26 as part of a run of improving performance, with management calling it the third consecutive quarter of “plus growth.” The same set of reports referenced continued progress in Mamaearth’s turnaround and stronger momentum in newer brands, alongside a push in offline channels.

Separately, the mention of a Reginald acquisition and upgrades to FY26-28 estimates by 9-12% (as stated) shows how corporate actions and outlook can feed into earnings expectations. The references to revenue recognition changes tied to Flipkart group settlements also underline that reported revenue can be influenced by accounting or platform-settlement changes, which investors often track closely.

Closing note

Honasa Consumer’s rally to a fresh 52-week high near ₹398 followed a Q4 FY26 print that combined strong revenue growth with a much sharper rise in profit and EBITDA. With multiple brokerages reiterating positive ratings and updating targets, the stock is likely to stay sensitive to follow-through on guidance, margin delivery, and any further updates linked to acquisitions and shareholder payouts.