Mamaearth parent Honasa Consumer rallies 4% as Derma Co hits Rs 500-cr revenue rate

Derma Co offers skincare products formulated with active ingredients to target various skin concerns like acne, sun damage, dullness, and pigmentation.

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Shares of Honasa Consumer Limited surged 4 percent to Rs 404 in April 22 afternoon after its skincare unit Derma Co achieved an annual revenue rate of Rs 500 crore.

The Derma Co had earlier crossed the Annual Revenue Rate (ARR) of Rs 350 crore in September 2023 and had also achieved an EBITDA positive status during the December quarter.

At 1:21pm, the stock was trading at Rs 400, up 3.3 percent from the previous close on the NSE. The share price has slipped over 9 percent since the start of the year.

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The company offers skincare products formulated with active ingredients to target various skin concerns like acne, sun damage, dullness, and pigmentation. Its products are available through retail stores, online platforms, leading e-commerce sites, and select modern trade partner outlets.

“Derma Co’s remarkable achievement of Rs 500 crore annual run rate is a strong testament to our strategic brand-building approach at Honasa Consumer Limited,” Varun Alagh, co-founder and CEO of the company, said.

Shares of Honasa Consumer – the parent company of Mamaearth – made the stock exchange debut on November 7 last year, and listed with a moderate gain of 2 percent over the issue price of Rs 324. Honasa Consumer claims to be the largest digital-first beauty and personal care company in India in terms of revenue from operations for the fiscal FY23.

Mamaearth, which was launched in 2016, has emerged as a fast-growing BPC brand in India to reach an annual revenue of Rs 1,000 crore within six years.

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