Honasa Consumer zooms ~9% after inking pact with Reliance Retail

4 Jul 2024 , 06:56 PM

On Thursday, Honasa Consumer, the parent company of beauty and personal care goods major Mamaearth, saw its shares rise over 9% to an intraday high of ₹475 per share on the BSE.

The stock has been on an upward trend, rising over 4% in a week and more than 7% in two weeks. The stock has returned 7.39% so far in 2024 (year to date).

Honasa Consumer Limited owns Mamaearth, a rapidly expanding brand in the personal care and beauty products category.

On June 12, the personal care company announced a partnership with retail behemoth Reliance Retail. As part of the collaboration, Mamaearth’s goods will be sold at over 1,000 Reliance Smart Bazaar and Smart Point stores across India.

The company stated in the statement that its collaboration with Reliance Retail Ventures Ltd. aims to expand the brand’s offline channel presence and make its products more accessible to a larger audience. Honasa Consumer’s stock has risen 6.48% since June 12, when the business announced its agreement.

Honasa Consumer Ltd reported a net profit of ₹30.5 Crore in the fourth quarter of fiscal year ending March 31, 2024, up from a net loss of ₹161.7 Crore in the same quarter last year. In the fourth quarter of FY24, the company’s revenue from operations increased by 21.4% to ₹471.1 Crore, up from ₹387.9 Crore the previous year.

Honasa Consumer Limited is a brand management company that prioritises digital marketing. Honasa Consumer’s website lists Mamaearth, The Derma Co., Aqualogica, and Ayuga among its brands. The company has also acquired brands to improve its portfolio, including BBlunt (products and services) and Dr Sheth’s (dermatologist-formulated skincare).

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