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Honasa Valuation Multiples

Discover revenue and EBITDA valuation multiples for Honasa and similar public comparables like Lavipharm, Live Verdure, and Sarantis Group.

Honasa Overview

About Honasa

Honasa Consumer Ltd is a digital-first beauty and personal care (BPC) company in India. It trades various beauty and personal care products across baby care, skin care, hair, and other related personal care categories. The products are manufactured through third-party contract manufacturers under the brand name of Mamaearth, The Derma Co, BBlunt, Aqualogica, and Ayuga. Geographically, the company generates a majority of its revenue within India.


Founded

2016

HQ

India
Employees

842

Website

honasa.in

Financials

LTM Revenue $238M

LTM EBITDA $7.5M

EV

$807M

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Honasa Financials

Honasa has a last 12-month revenue of $238M and a last 12-month EBITDA of $7.5M.

In the most recent fiscal year, Honasa achieved revenue of $223M and an EBITDA of $21.7M.

Honasa expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Honasa P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $173M $223M XXX XXX XXX
Gross Profit $76.7M $121M XXX XXX XXX
Gross Margin 44% 54% XXX XXX XXX
EBITDA -$12.8M $21.7M XXX XXX XXX
EBITDA Margin -7% 10% XXX XXX XXX
Net Profit $1.8M -$16.6M XXX XXX XXX
Net Margin 1% -7% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

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Honasa Stock Performance

As of April 15, 2025, Honasa's stock price is INR 231 (or $3).

Honasa has current market cap of INR 75.3B (or $874M), and EV of INR 69.5B (or $807M).

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Honasa Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$807M $874M XXX XXX XXX XXX $0.02

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Honasa Valuation Multiples

As of April 15, 2025, Honasa has market cap of $874M and EV of $807M.

Honasa's trades at 3.4x LTM EV/Revenue multiple, and 107.1x LTM EBITDA.

Analysts estimate Honasa's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Honasa Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $807M XXX XXX XXX
EV/Revenue 3.5x XXX XXX XXX
EV/EBITDA 75.0x XXX XXX XXX
P/E 98.0x XXX XXX XXX
P/E/Growth 2.0x XXX XXX XXX
EV/FCF 71.1x XXX XXX XXX

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Honasa Valuation Multiples

Honasa's NTM/LTM revenue growth is 14%

Honasa's revenue per employee for the last fiscal year averaged $0.3M, while opex per employee averaged $0.2M for the same period.

Over next 12 months, Honasa's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Honasa's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Honasa Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 29% XXX XXX XXX XXX
EBITDA Margin 5% XXX XXX XXX XXX
EBITDA Growth -269% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 19% XXX XXX XXX XXX
Revenue per Employee $0.3M XXX XXX XXX XXX
Opex per Employee $0.2M XXX XXX XXX XXX
S&M Expenses to Revenue 47% XXX XXX XXX XXX
G&A Expenses to Revenue 1% XXX XXX XXX XXX
R&D Expenses to Revenue 0% XXX XXX XXX XXX
Opex to Revenue 64% XXX XXX XXX XXX

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Honasa Public Comps

See public comps and valuation multiples for Health & Beauty and Vertical E-commerce comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Acme United XXX XXX XXX XXX XXX XXX
EZZ Life Science XXX XXX XXX XXX XXX XXX
Live Verdure XXX XXX XXX XXX XXX XXX
Lavipharm XXX XXX XXX XXX XXX XXX
Sarantis Group XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Honasa M&A and Investment Activity

Honasa acquired  XXX companies to date.

Last acquisition by Honasa was  XXXXXXXX, XXXXX XXXXX XXXXXX . Honasa acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Honasa

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Honasa

When was Honasa founded? Honasa was founded in 2016.
Where is Honasa headquartered? Honasa is headquartered in India.
How many employees does Honasa have? As of today, Honasa has 842 employees.
Who is the CEO of Honasa? Honasa's CEO is Mr. Varun Alagh.
Is Honasa publicy listed? Yes, Honasa is a public company listed on BOM.
What is the stock symbol of Honasa? Honasa trades under 544014 ticker.
When did Honasa go public? Honasa went public in 2023.
Who are competitors of Honasa? Similar companies to Honasa include e.g. Acme United, EZZ Life Science, Live Verdure, Lavipharm.
What is the current market cap of Honasa? Honasa's current market cap is $874M
What is the current revenue of Honasa? Honasa's last 12-month revenue is $238M.
What is the current EBITDA of Honasa? Honasa's last 12-month EBITDA is $7.5M.
What is the current EV/Revenue multiple of Honasa? Current revenue multiple of Honasa is 3.4x.
What is the current EV/EBITDA multiple of Honasa? Current EBITDA multiple of Honasa is 107.1x.
What is the current revenue growth of Honasa? Honasa revenue growth between 2023 and 2024 was 29%.
Is Honasa profitable? Yes, Honasa is EBITDA-positive (as of the last 12 months).

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