Honasa’s Q3 Profit Run Honasa roared in Q3 — profits doubled, revenues surged to record levels, and Project Neev revived Mamaearth’s growth. The quarter also saw offline sales outpace the bellwether ecommerce channel, while men’s skincare entry continued to add firepower. Here is a snapshot of Honasa’s Q3 FY26 numbers: Profits surged 93% YoY to ₹50.2 Cr Operating revenue rose 16% YoY to 601.5 Cr EBITDA rose 151% YoY to ₹66 Cr, while margins improved 410 bps YoY to 10.9% In line with the top-line growth, expenses rose 9% YoY to ₹550.3 Cr Project Neev Success: A year ago, Honasa embarked on Project Neev, moving towards a direct distribution model in the top 50 cities. While the overhaul did bring short-term disruption, the move helped the company sharpen its supply chain and improve its shelf presence. The result was visible in Q3 as Honasa posted sharper profits and a hefty margin expansion. Mamaearth’s Revival: For Honasa, the narrative this quarter was anchored by the return of Mamaearth to double-digit revenue growth on the back of formulations, Gen Z-targeted ads and a focus on key categories. Younger siblings like The Derma Co and Aqualogica also added to Honasa’s kitty with 25%… Read MoreInc42 Media
