Mamaearth Shares Hit Three-Month High After Return To Profit
The stock rose as much as 7.09% during the day on the NSE.
Shares of Honasa Consumer Ltd. jumped to its highest level in three months after the company posted a profit in the fourth quarter of financial year 2024.
The company's consolidated net profit stood at Rs 30.5 crore in the January–March period, as against a loss of Rs 161.8 crore in the year-ago period, according to an exchange filing.
Honasa Consumer Q4 Highlights (Consolidated, YoY)
Revenue up 22% to Rs 471 crore versus Rs 388 crore.
Ebitda at Rs 33 crore versus Ebitda loss of Rs 3 crore.
Margin at 7%.
Net profit at Rs 30 crore versus loss of Rs 162 crore.
Emkay Global has a 'buy' rating on the stock, with a target price of Rs 500 per share. "We remain positive on Honasa, given its relatively better execution, and management prowess of defining consumer trends in the Indian beauty and personal care space, where it continues to corner market share," it said.
Management guidance of over 20% annual revenue growth ahead is reassuring, whereas its near-term margin guidance of 150-basis-point expansion in FY25 looks conservative, the brokerage said.
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On the NSE, shares of the company rose as much as 7.09% intraday to the highest level since Feb. 23. They pared gains to trade 2.68% higher at 10:27 a.m., compared to a flat Nifty 50.
The stock has fallen 2.56% on a year-to-date basis. The total traded volume so far in the day stood at 4.56 times its 30-day average. The relative strength index was at 56.94.
Of the nine analysts tracking the company, seven have a 'buy' rating on the stock, one recommends 'hold' and another suggests 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 15.9%.
