Honasa Consumer Is High Conviction 'Buy' For ICICI Securities — Here's Why

Honasa has disrupted traditional categories. In suncare, Honasa holds a 20% market share in the online channel driven by innovative product formats such as gel-based sunscreens suited to Indian climate and skintype-specific formulations. The category now contributes over Rs 5 billion in revenue..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.We hosted Honasa Day, which featured presentations from Varun Alagh (Co-founder and CEO), Ghazal Alagh (Cofounder and CIO) and team. Given the management conviction, the evolution in the business strategy and the strength in execution, we reiterate our high conviction positive stance on Honasa. Takeaways:Redefining strategy – balanced focus between ‘where to play’ and ‘how to play’. Earlier strategy enabled initial scale-up of brands digitally. The rebalancing should promote sustainable growth ahead. It shall continue to disrupt categories with innovative products/formats (serums, micro-needle serums) and take advantage as a first mover. Utilising AI/LLMs to analyse real-time digital trends, enabling faster product development and targeted customised marketing. Corrective actions to improve general trade execution are moving to direct distributors, reducing channel inventory, focusing on hero SKUs, and enforcing stricter cash collection norms to improve and measure channel health. Continue to invest in superior formulations, blind testing against competitors, and premium product launches. Maintain Buy..Click on the attachment to read the full report:.Go Fashion Gets ICICI Securities 'Buy' Upgrade, Sees Upto 40% Potential Upside.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Honasa Consumer Is High Conviction 'Buy' For ICICI Securities — Here's Why

ICICI Securities maintains Buy on Honasa with a DCF-based target price of Rs 400.

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP