This Beauty and Personal Care Stock Rises 52% in 1 Year: Back Above Its IPO Price
- September 17, 2026
- Posted by: Harsh Piplani
- Category: Best Stocks
Honasa Consumer: CMP approximately Rs 462.35 (17 Sep 2026), 1-year return 52%, 52W range Rs 248.40 to Rs 509.80, market cap Rs 15,281 Cr, PE 61.27.
Quick Answer
Honasa Consumer Ltd is the beauty and personal care stock that gained approximately 52% in the year to 17 September 2026, from Rs 303.50 to around Rs 462.35. The gain came from a real earnings recovery after the Project Neev distribution reset wrecked FY25 profits. FY26 net profit tripled to Rs 200.19 crore and the June 2026 quarter set a record on revenue and margin. The share has also reclaimed its Rs 324 IPO price.
Beauty and personal care stock returns rarely carry a wreck and a rebuild inside two years. One Gurugram company rewired its offline distribution chain in late 2024, took a hit big enough to force a quarterly loss, then spent six quarters earning it back. The share rose approximately 52% in the year to 17 September.
The company is Honasa Consumer Ltd (NSE: HONASA), owner of Mamaearth, The Derma Co., Aqualogica and BBlunt. It closed at Rs 303.50 on 17 September 2025 and near Rs 462.35 a year later, a verified gain of 52.34%, with no split or bonus since the November 2023 listing.
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How Much Has This Beauty and Personal Care Stock Returned in 1 Year?
The verified one-year return on this beauty and personal care stock is approximately 52%, close to close from 17 September 2025. That is among the stronger showings on a screen of NSE small-cap stocks ranked by 1-year return, dated 17 September.
Shorter windows matter more. Six months ago this beauty and personal care stock traded at Rs 264.05, roughly 75% below today. Over the last month it slipped about 4% from Rs 481.65, cooling after a 52-week high of Rs 509.80 on 14 August 2026.
| Period | From | To | Price Return |
|---|---|---|---|
| 1 Year (17 Sep 2025 to 17 Sep 2026) | Rs 303.50 | Rs 462.35 | +52% |
| 6 Months (17 Mar 2026) | Rs 264.05 | Rs 462.35 | +75% |
| 1 Month (17 Aug 2026) | Rs 481.65 | Rs 462.35 | -4% |
| Since IPO price (Nov 2023) | Rs 324.00 | Rs 462.35 | +43% |
There is no three-year or five-year record. The company listed on 7 November 2023 at Rs 324, so this beauty and personal care stock has under three years of trading history.
Why Did This Beauty and Personal Care Stock Rise 52% in a Year?
Because the earnings base that collapsed in FY25 was rebuilt quarter by quarter, and the market repriced this beauty and personal care stock. Five dated events did that work.
1. The Project Neev Reset That Built the Low Base
Project Neev moved this beauty and personal care stock from a two-layer chain of super-stockists and sub-distributors to a single-layer direct distributor model in the top 50 cities, which meant buying back and writing down inventory held by the intermediaries.
The bill landed in the September 2024 quarter, reported 14 November 2024. Sales returns and inventory correction took approximately Rs 63.52 crore off revenue, and the quarter swung to a Rs 18.71 crore net loss against a Rs 29.78 crore profit a year earlier. Management had guided for roughly 150 basis points of impact, then conceded in-market credits went uncounted.
2. The Q2 FY26 Turnaround, 13 November 2025
Results on 13 November 2025 gave this beauty and personal care stock its first clean proof the reset had worked. Revenue of about Rs 538 crore grew 16.5%, while EBITDA near Rs 48 crore and net profit of Rs 39 crore both came from losses a year earlier.
Focus categories contributed over 75% of revenue, Mamaearth returned to profit with a 123 basis point gain in face cleansers, and The Derma Co. crossed Rs 750 crore of recurring revenue. This beauty and personal care stock rose about 5% on the day.
3. Reginald Men, Then a Promoter Purchase, December 2025
On 12 December 2025 the company agreed to buy 95% of BTM Ventures, owner of men’s grooming brand Reginald Men, at an enterprise value near Rs 195 crore. Reginald Men had booked over Rs 70 crore of revenue at about 25% margin.
On 29 December 2025 co-founder Varun Alagh bought 18.52 lakh shares at Rs 270, about Rs 50 crore, lifting promoter holding to 35.54%. Founder buying near the low did more for this beauty and personal care stock than any presentation.
4. Q4 FY26, Tripled Profit and a Maiden Dividend, 22 May 2026
The March 2026 quarter, reported 22 May 2026, changed the valuation argument for this beauty and personal care stock. Revenue rose about 28% to roughly Rs 682 crore and net profit 178% to Rs 69.44 crore. Volume growth was 30%, the number separating recovery from optics.
FY26 revenue reached approximately Rs 2,479 crore with EBITDA near Rs 231 crore, and the board proposed a maiden dividend of Rs 3 per share. This beauty and personal care stock jumped roughly 7% to a 52-week high of Rs 398.
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5. FY31 Targets in June, a Record Quarter in August 2026
At its Investor Day on 11 June 2026 the company targeted FY31 revenue above Rs 5,500 crore, EBITDA margin above 15%, and direct retail reach growing from about 120,000 outlets to over 300,000. Nutraceuticals, fragrances and oral care were named as new categories for this beauty and personal care stock.
Q1 FY27 results on 13 August 2026 delivered. Total income of Rs 778.46 crore grew about 26%, EBITDA doubled to Rs 132.71 crore at a 17.56% margin and net profit rose 119% to Rs 90.45 crore. This beauty and personal care stock hit Rs 509.80 next day.
Financials Behind This Beauty and Personal Care Stock
Margin has expanded in every one of the past five quarters, the strongest argument for this beauty and personal care stock. Operating margin moved from 11.71% to 17.56% while revenue grew roughly 26%, so profit growth is no artefact.
| Quarter | Total Income (Rs Cr) | EBITDA (Rs Cr) | OPM | Net Profit (Rs Cr) |
|---|---|---|---|---|
| Jun 2025 | 619.14 | 69.70 | 11.71% | 41.33 |
| Sep 2025 | 558.20 | 67.78 | 12.60% | 39.23 |
| Dec 2025 | 622.22 | 86.17 | 13.53% | 50.20 |
| Mar 2026 | 675.96 | 96.09 | 14.61% | 69.44 |
| Jun 2026 | 778.46 | 132.71 | 17.56% | 90.45 |
The yearly shape of this beauty and personal care stock is a V. Revenue moved from Rs 1,969.61 crore in FY24 to Rs 2,145.68 crore in FY25 and Rs 2,475.53 crore in FY26, while net profit went Rs 110.53 crore, Rs 72.69 crore, Rs 200.19 crore.
Two caveats travel with those numbers. FY25 profit was depressed by the Project Neev writeoff, so FY26 growth is flattered by a broken base, and part of it came from acquisitions.
Who Owns This Beauty and Personal Care Stock?
Promoter holding in this beauty and personal care stock rose from 34.99% in June 2025 to 35.47% a year later, entirely on the December 2025 purchase. That is the opposite of the usual pattern after a founder-led listing.
| Shareholder | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Promoters | 34.99% | 34.97% | 35.54% | 35.54% | 35.47% |
| FII | 16.09% | 15.50% | 14.63% | 13.74% | 13.64% |
| DII | 18.90% | 19.16% | 18.64% | 19.24% | 21.58% |
| Public | 30.01% | 30.36% | 31.19% | 31.48% | 29.31% |
The institutional story is a handover. Foreign institutions cut in every quarter, from 16.09% to 13.64%, while domestic institutions went from 18.90% to 21.58%. Public holding in this beauty and personal care stock dropped 217 basis points in the June quarter alone.
Is This Beauty and Personal Care Stock Still Below Its IPO Price?
No. This beauty and personal care stock reclaimed the Rs 324 issue price on 9 April 2026 and has held above it since, about 43% higher. For seventeen months before that, IPO buyers were under water, by nearly 40% when it touched Rs 197.51 in February 2025.
That history frames the valuation. This beauty and personal care stock trades at 61.27 times earnings against an industry figure near 56.11, price to book of 10.82 and a market capitalisation of Rs 15,281 crore, with return on equity of 14.16%.
Key Risks in This Beauty and Personal Care Stock
Serial acquisitions: Reginald Men at about Rs 195 crore, Fluence Pharma at around Rs 135 crore and a stake in Fang came on top of earlier deals. FY26 accounts carry Rs 119.80 crore of goodwill from one purchase, an impairment risk for this beauty and personal care stock if a brand stalls.
Distribution repeat risk: Project Neev cost this beauty and personal care stock a quarter of losses and a Rs 63.52 crore revenue reversal. The FY31 plan needs direct reach past 300,000 outlets, far bigger than the one that broke.
Margin durability: Gross margin fell about 150 basis points to 69.7% in Q1 FY27 on packaging cost, and a foreign brokerage flagged that price increases could weigh on the September quarter. The 17.56% operating margin is the highest this beauty and personal care stock has posted.
Liquidity and volatility: This beauty and personal care stock has no derivatives contracts on either exchange, has traded between Rs 248.40 and Rs 509.80 in twelve months, and can move 7% to 20% in a session on results days.
Competition and ad spend: Mamaearth faces established consumer groups and a long tail of digital-first challengers with low entry barriers. Advertising spend rose 16.7% to Rs 241 crore in Q1 FY27, roughly 31% of revenue, so cutting it to protect margin risks slowing growth. No promoter pledge or surveillance action is on record for this beauty and personal care stock.
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Honasa Consumer Share: Analyst View
Coverage on this beauty and personal care stock is wide and openly divided. After Q1 FY27, four houses published targets spanning Rs 150 per share.
The bull case is that FY26 proved this beauty and personal care stock makes money at scale and that new categories extend the runway. The bear case is that 61 times earnings already pays for that execution.
Three things decide the Honasa Consumer share price next: whether the 17.56% margin survives this year’s price increases, whether volume growth holds near 30%, and whether four quarters of foreign selling stop.
Honasa Consumer Share Price Target
Honasa Consumer share price target levels published after the August 2026 results run from Rs 410 to Rs 560. A domestic brokerage set the highest at Rs 560, up from Rs 485, after lifting FY27 to FY29 estimates by 15% to 19%. Another house moved to Rs 550.
A foreign brokerage holds a Rs 505 target with a hold rating, another an underweight rating at Rs 410. That range straddles the current price, its midpoint near where this beauty and personal care stock already trades.
Traded levels anchor the Honasa Consumer share price better. Resistance is the 14 August 2026 high of Rs 509.80, support the Rs 398 breakout from May 2026 and then the Rs 324 IPO price. Treat any Honasa Consumer share price target as a view on FY28 margins.
Other Stocks to Track From the Same Return Screen
Beyond this beauty and personal care stock, a screen of NSE small-cap stocks ranked by 1-year return also includes related names such as Raymond with a 1-year return of 59.40%, Indo Count at 43.84% and Steel Strips Wheels at 42.44%.
Among the names covered from that screen, MTAR Technologies returned 396.53% over one year. Readers can compare this beauty and personal care stock with the Nifty 50 benchmark and track each of these names on Univest before making any decision.
Conclusion
This beauty and personal care stock earned its 52% year the hard way. The reset that broke FY25 cleared a channel stuffed with unsold inventory, and every quarter since has paired higher margin with higher revenue.
What is left to argue about is price. A 61 times multiple on a business two years past a profit collapse leaves no room for a stumble, and foreign institutions have sold throughout the rally. This beauty and personal care stock has recovered its IPO ground, but the Honasa Consumer share price now rests on margin, not a weak base.
Disclaimer: Data and figures in this article are sourced from publicly available information and may or may not be accurate. Please verify all data independently before making any investment decision. Past returns do not guarantee future returns. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Which beauty and personal care stock rose 52% in one year?
Ans. Honasa Consumer Ltd (NSE: HONASA) gained approximately 52% between 17 September 2025 and 17 September 2026, from Rs 303.50 to around Rs 462.35. It owns Mamaearth, The Derma Co., Aqualogica and BBlunt.
Is the Honasa Consumer share price still below its IPO price?
Ans. No. The share reclaimed its Rs 324 IPO price on 9 April 2026 and trades roughly 43% above it, after about seventeen months below the issue price following the November 2024 crash.
What was Project Neev and how much did it cost?
Ans. Project Neev replaced a two-layer chain of super-stockists and sub-distributors with a single-layer direct distributor model in the top 50 cities. It cost approximately Rs 63.52 crore in sales returns and inventory correction in the September 2024 quarter, causing a Rs 18.71 crore loss.
How did Honasa Consumer perform in FY26?
Ans. FY26 revenue reached Rs 2,475.53 crore against Rs 2,145.68 crore in FY25, and net profit tripled to Rs 200.19 crore. The board proposed a maiden dividend of Rs 3 per share on 22 May 2026.
What is the current Honasa Consumer share price target?
Ans. Targets published after the August 2026 results run from Rs 410 to Rs 560. A domestic brokerage set Rs 560 with a buy rating, another Rs 550, a foreign brokerage Rs 505 with a hold rating and a second Rs 410 with an underweight rating.
What are the 52-week high and low for this beauty and personal care stock?
Ans. The 52-week high is Rs 509.80, set on 14 August 2026 after record June quarter results, and the 52-week low is Rs 248.40, set on 11 December 2025. The share has roughly doubled from that trough.
Is Honasa Consumer expensive at current levels?
Ans. It trades at a price to earnings ratio of 61.27 against an industry figure near 56.11, with price to book of 10.82 and return on equity of 14.16%. That premium assumes the margin expansion of the last five quarters continues.
What are the main risks in this beauty and personal care stock?
Ans. The main risks are execution on serial acquisitions carrying Rs 119.80 crore of goodwill from one deal alone, a repeat of the 2024 distribution problem as direct reach scales past 300,000 outlets, and margin durability after gross margin fell 150 basis points in Q1 FY27. Small-cap liquidity and a Rs 248.40 to Rs 509.80 range add volatility risk.
