Honasa pushes beyond Mamaearth to challenge HUL, P&G and Marico with multi-brand FMCG play
Honasa Consumer is reinventing itself from a Mamaearth-led D2C label into a diversified FMCG contender, scaling The Derma Co. (₹750 cr+ ARR), Aqualogica and grooming bets while rebuilding offline reach via Project Neev. It targets ₹5,500 cr+ revenue and 15% Ebitda margin by FY31 despite a ₹18.5 cr Q2FY25 net loss.
Honasa is transforming from a Mamaearth-led D2C brand into a diversified FMCG player rivaling HUL, P&G and Marico—rebuilding offline distribution via Project Neev and scaling The Derma Co., Aqualogica and grooming/oral-care acquisitions across India.