Honasa Shares Rally 14% After Q1 Results

Shares of Honasa surged as much as 13.68% to INR 304.80 during early trading hours today, a day after the company announced its Q1 FY26 results.

By 10:38 AM, the stock had pared some gains to trade 9.2% higher at INR 293.00 on the BSE, taking the company’s market capitalisation to INR 9,625.43 Cr, with as many as 11 Cr shares changing hands.

The stock is on its fourth consecutive day of gains and has delivered an 18% return to investors so far this year.

Honasa declared its Q1 results after market hours yesterday, reporting a sequential 65% jump in net profit to INR 41.3 Cr from INR 25 Cr in the previous quarter.

On a yearly basis, the bottom line remained largely flat, inching up just 2.4% from INR 40.3 Cr a year earlier.

Operating revenue rose 7% year-on-year (YoY) and 12% quarter-on-quarter (QoQ) to INR 595.3 Cr. The company said that this is its highest-ever quarterly revenue and record quarterly profit in the first three months of FY26.

This comes after Honasa restructured its entire offline distribution model in FY25 under ‘Project Neev’ starting in Q2 FY25.

Under the project, the company shifted from a two-layered system that included super-stockists to a direct distribution model in the top 50 cities with a goal of improving efficiency, streamlining the distribution network, and giving it more control over pricing, inventory, and in-store presence.

(The story will be updated soon.)

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