HONASA2026-01-012026-03-31HONASA2026-03-31HONASA2025-03-31HONASA2025-04-012026-03-31HONASA2026-01-012026-03-31in-capmkt:OtherExpenses1MemberHONASA2026-01-012026-03-31in-capmkt:OtherExpenses2MemberHONASA2026-01-012026-03-31in-capmkt:OtherExpenses3MemberHONASA2026-01-012026-03-31in-capmkt:OtherExpenses4MemberHONASA2026-01-012026-03-31in-capmkt:OtherExpenses5MemberHONASA2026-01-012026-03-31in-capmkt:OtherExpenses6MemberHONASA2026-01-012026-03-31in-capmkt:OtherExpenses7MemberHONASA2026-01-012026-03-31in-capmkt:OtherExpenses8MemberHONASA2026-01-012026-03-31in-capmkt:OtherExpenses9MemberHONASA2026-01-012026-03-31in-capmkt:OtherExpenses10MemberHONASA2025-04-012026-03-31in-capmkt:OtherExpenses1MemberHONASA2025-04-012026-03-31in-capmkt:OtherExpenses2MemberHONASA2025-04-012026-03-31in-capmkt:OtherExpenses3MemberHONASA2025-04-012026-03-31in-capmkt:OtherExpenses4MemberHONASA2025-04-012026-03-31in-capmkt:OtherExpenses5MemberHONASA2025-04-012026-03-31in-capmkt:OtherExpenses6MemberHONASA2025-04-012026-03-31in-capmkt:OtherExpenses7MemberHONASA2025-04-012026-03-31in-capmkt:OtherExpenses8MemberHONASA2025-04-012026-03-31in-capmkt:OtherExpenses9MemberHONASA2025-04-012026-03-31in-capmkt:OtherExpenses10MemberHONASA2026-03-31OtherNoncurrentFinancialAssetsDomain1HONASA2026-03-31OtherNoncurrentFinancialAssetsDomain2HONASA2026-03-31OtherNoncurrentFinancialAssetsDomain3HONASA2026-03-31OtherNoncurrentAssetsDomain1HONASA2026-03-31OtherNoncurrentAssetsDomain2HONASA2026-03-31OtherCurrentFinancialAssetsDomain1HONASA2026-03-31OtherCurrentFinancialAssetsDomain2HONASA2026-03-31OtherCurrentFinancialAssetsDomain3HONASA2026-03-31OtherCurrentFinancialAssetsDomain4HONASA2026-03-31OtherCurrentAssetsDomain1HONASA2026-03-31OtherCurrentAssetsDomain2HONASA2026-03-31OtherCurrentAssetsDomain3HONASA2026-03-31OtherCurrentAssetsDomain4HONASA2026-03-31OtherCurrentAssetsDomain5HONASA2026-03-31OtherNoncurrentFinancialLiabilitiesDomain1HONASA2026-03-31OtherCurrentFinancialLiabilitiesDomain1HONASA2026-03-31OtherCurrentFinancialLiabilitiesDomain2HONASA2026-03-31OtherCurrentFinancialLiabilitiesDomain3HONASA2026-03-31OtherCurrentFinancialLiabilitiesDomain4HONASA2026-03-31OtherCurrentFinancialLiabilitiesDomain5HONASA2026-03-31OtherCurrentLiabilitiesDomain1HONASA2026-03-31OtherCurrentLiabilitiesDomain2HONASA2026-03-31OtherCurrentLiabilitiesDomain3HONASA2026-03-31OtherCurrentLiabilitiesDomain4HONASA2026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss1HONASA2025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss1HONASA2026-01-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss1HONASA2025-04-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss1HONASA2026-01-012026-03-31AuditorDomain1iso4217:INRxbrli:pureiso4217:INRxbrli:shares544014HONASANOTLISTEDINE0J5401028Honasa Consumer LimitedMain BoardEquity2025-04-012026-03-312026-05-212026-05-11INRMillionsQuarterlyFourth quarterSingle segmentBeauty and Personal care2026-05-2115:05:002026-05-2115:50:00trueCash Flow IndirectDeclaration of unmodified opinion2026-01-012026-03-31AuditedConsolidated6570840000188780000675962000002224700000-27496000071361000033270000108010000313541000059400400008195800000819580000220150000-961600001239900000695590000000-1210000694380000302000069740000069193000024500006949500002450000325370000002.132.12002.132.120001.The Audited Consolidated Financial Results of Honasa Consumer Limited (the 'Holding Company' or 'the Company') together with its subsidiaries (collectively the 'Group') and joint venture have been prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ('Ind AS') as prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules thereunder and in terms of the Regulation 33 of the Securities Exchange Board of India ('SEBI') (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended. These Audited Consolidated Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 21, 2026. <BR> <BR> 2.During the year ended March 31, 2024, the Holding Company had completed its Initial Public Offer (IPO) of 52,515,692 equity shares of face value of Rs. 10 each at an issue price of Rs. 324 per share (including a share premium of Rs. 314 per share). A discount of Rs. 30 per share was offered to eligible employees bidding in the employee's reservation portion of 22,678 equity shares. The issue comprised of a fresh issue of 11,267,530 equity shares aggregating to Rs. 3,650 Million and offer for sale of 41,248,162 equity shares by selling shareholders aggregating to Rs. 13,364.40 Million. Pursuant to the IPO, the equity shares of the Holding Company were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on November 07, 2023. <BR> <BR> The utilisation of the IPO proceeds from fresh issue of Rs 3,504.92 Million (net of IPO expenses of Rs 145.08 Million) is summarized below: <BR> Total Amount to be utilised as per prospectus is Rs.3504.92 million out of which total amount utilised upto March 31, 2026 is Rs.3152.66 million. <BR> <BR> 3.The Group is principally engaged in trading of variety of beauty and personal care products and related services with products across baby care, skin care, hair and other related personal care categories which are manufactured through third party contract manufacturers. Accordingly, these, in the context of Ind AS 108 on operating segments reporting are considered to constitute one segment by Chief Operating Decision Maker and hence the Group has not made any additional segment disclosures. <BR> <BR> 4.RSM General Trading LLC ('RSM'), an overseas distributor of the Holding Company had filed a legal suit against the Company in the Court of First Instance in UAE on the grounds that the Distributorship Agreement between RSM and the Company was terminated illegally by the Company without complying with provisions of the Distributorship Agreement. RSM, in the legal suit, claimed damages to the tune of AED 45 million (equivalent to Rs 1,001.25 million), wherein the Court on May 16, 2024, ordered the Company to pay an amount of AED 25.07 million (equivalent to Rs 576.65 million) plus interest at the rate of 5% from the date of order till the date of payment (“UAE Court Order/Original Judgment”). The Company, subsequently, filed an appeal against the said order, which was subsequently dismissed by the Court of Appeal on October 15, 2024 (“Judgment”). The Company then filed an appeal against the Judgment before the Cassation Court, and the Cassation Court on March 26, 2025 allowed the Appeal referring the case back to Court of Appeal for a re-hearing by a panel composed of different judges. The Court of Appeal, composed of a different panel, issued a preliminary judgment on July 16, 2025 appointing 2 experts to review the case files and documents and directed the experts to submit an expert report. The Experts submitted a final expert report November 24, 2025 and supplemental report dated January 22, 2026 noting breaches of the Company as well as RSM and concluded that RSM is entitled to a compensation of only AED 1.75 million ( equivalent to Rs.42.75 million). <BR> <BR> Thereafter, the Court of Appeal in its judgment dated February 11, 2026, affirmed the aforesaid compensation amount AED 1.75 million payable by the Holding company. Further, both parties challenged this judgment of the Court of Appeal before the Cassation Court (Highest Court of Dubai, UAE). The Cassation Court has fixed June 17, 2026, for a hearing and subsequent judgment. <BR> <BR> The Holding Company had further filed a petition under Section 9 of Arbitration and Conciliation Act, 1996, in High court of Delhi seeking Anti-suit and enforcement injunction prohibiting RSM from continuing proceedings in UAE, which was subsequently allowed by the Court. RSM appealed against this judgment before the division bench of Delhi High Court seeking stay on the anti-suit enforcement and the direction to deposit Rs 576.65 million to Delhi High Court. Further, the Court, on September 01, 2025 dismissed the appeal, on the grounds that arbitration has already commenced in India as per the dispute resolution clause of the Agreement and that both Parties shall agitate their disputes before the arbitral tribunal. <BR> <BR> Pursuant to conclusion of the trial and subsequent completion of the arbitral proceedings, the Tribunal has now passed an award in favour of the Holding Company on May 14, 2026. The Award categorically declared that (i) it has the jurisdiction to adjudicate the disputes raised in the proceedings; (ii) RSM breached the Arbitration Agreement, Exclusive Jurisdiction and Governing Law clause under the Authorized Distribution Agreement ('ADA') by instituting proceedings before the Dubai Court; (iii) RSM is injuncted from initiating/continuing any proceedings before the Dubai Courts; (iv) Termination of the ADA by the Holding Company was valid and not unlawful as held by Dubai Courts by virtue of the termination clause; and (v) RSM is liable to pay an amount of AED 7.25 million (INR 188.84 million), towards various claims filed by the Holding Company, including a post award interest should the amount remain unpaid after a period of 30 days. <BR> <BR> Accordingly, in view of the above, the Holding Company does not expect any material financial impact. <BR> <BR> 5.During the year ended March 31, 2025, the Board of Directors of the Holding Company and its wholly owned subsidiaries Fusion Cosmeceutics Private Limited ('Fusion' or 'Transferor Company-1') and Just4Kids Services Private Limited ('J4k' or 'Transferor Company-2'), had approved the Scheme of Amalgamation between the Company, Transferor Company-1, Transferor Company-2 and their respective shareholders and creditors (hereinafter referred to as “the Scheme”) in terms of the provisions of Sections 230 to 232 of the Companies Act, 2013 to transfer the business of Transferor Company-1 and Transfer Company-2 to the Company. <BR> <BR> The Holding Company has received the order granting approval of merger by NCLT Chandigarh on May 08, 2025 and by NCLT Delhi on June 03, 2025. <BR> <BR> The aforesaid merger has no effect on the audited consolidated financial results of the Group and its Joint Venture. <BR> <BR> 6.During the year ended March 31, 2025, the Holding Company had executed Project 'Neev' which entails transition to Direct distribution model across top 50 cities and in the process making the general trade distribution future ready. As part of the Project 'Neev' the Company had discontinued super stockist layer as well as certain direct Distributors replacing them with higher quality/Tier 1 Distributors to service Retailers across top 50 cities. Consequent to the aforesaid transition, sales return of Rs 635.18 Million had been provided for with resulting inventory/Right to return asset of Rs 114.42 Million in the year ended March 31, 2025. <BR> As at March 31, 2026, the Holding Company has outstanding provision for sales return of Rs. 27.52 Million in this regard with resulting inventory/Right to return asset of Nil. <BR> <BR> 7.On November 21, 2025, the Government of India notified the Code on Wages, 2019, the Code on Social Security, 2020, the Industrial Relations Code, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the “Labour Codes”). The Labour Codes consolidate various existing labour laws and introduce changes, including a harmonised definition of wages, which impacts the computation of employee benefit obligations such as gratuity and compensated absences. Based on the information currently available and the guidance issued by the Institute of Chartered Accountants of India, the Group has evaluated the impact of these changes and recognised an incremental cost of Rs. 47.97 million as past service cost as an exceptional item for the year ended March 31, 2026. The Group continues to monitor developments relating to the Labour Codes and will assess the impact, if any, on the measurement of employee benefit liabilities in future periods. <BR> <BR> 8.During the previous quarter ended December 31, 2025, the Holding Company has invested Rs. 99.98 million for a stake of 25% in Couch Commerce Private Limited. Based on the shareholders agreement dated November 12, 2025, the investment is in the nature of Joint Venture and accordingly accounted as per equity method in line with the requirements of Ind AS 28 - Investment in Associates and Joint Ventures. <BR> <BR> 9.During the quarter ended March 31, 2026, the Holding Company has acquired 95% shareholding in BTM Ventures Private Limited for a purchase consideration of Rs.1,979.62 million. The Group had conducted the fair valuation on the date of acquisition and accordingly recognised Brand of Rs. 793.68 million and goodwill of Rs. 1,198.05 million over and above net assets acquired, in accordance with Ind AS 103. Pursuant to the Shareholders Agreement between the Company and existing shareholders of BTM Ventures Private Limited, both the parties have the obligation to purchase and sell the remaining shares of the existing shareholders at a pre-agreed valuation. The obligation to acquire remaining stake in BTM Ventures Private Limited has been recorded as financial liability amounting to Rs 108.13 million. Pending acquisition of remaining stake, the Group has attributed the profit and each component of OCI (if any) to Non Controlling Interest, which is included in financial liability for future acquisition. This financial liability has been measured at the date of acquisition, basis a fair valuation report, in accordance with lnd AS 109. <BR> <BR> 10.The Board of Directors at their meeting held on May 21, 2026 recommended a final dividend of Rs. 3/-per equity share of Rs.10 each for the financial year ended March 31, 2026, subject to approval of the shareholders at the ensuing Annual General Meeting. In accordance with Ind AS 10 – 'Events After the Reporting Period', the dividend recommended by the Board of Directors has not been recognised as a liability as at March 31, 2026. <BR> <BR> 11.The figures for the quarter ended March 31, 2026 and corresponding quarter ended March 31, 2025 are the derived balancing figures between audited figures in respect of full financial year ended March 31, 2026 and March 31, 2025 respectively and the unaudited figures of nine months ended December 31, 2025 and December 31, 2024 respectively.2025-04-012026-03-31AuditedConsolidated239194200008358400002475526000007146520000-2280000262635000013138000044402000011787270000221332600002622000000-479700002574030000600400000-2968000057072000002003310000000-14100002001900000383700002040270000199945000024500002037820000245000032537000000108648200006.156.12006.156.12000Advertisement expense2161400000Freight and forwarding charges489270000Software support expenses61570000Sales Commission80160000Packaging materials and other consumables66900000Contract Labour charges55050000Travelling and conveyance27050000Legal and professional charges108300000Provision for slow moving inventory-2860000Other Expenses88570000Advertisement expense7880940000Freight and forwarding charges1821360000Software support expenses240150000Sales Commission630740000Packaging materials and other consumables201170000Contract Labour charges227570000Travelling and conveyance115870000Legal and professional charges359690000Provision for slow moving inventory-34110000Other Expenses34389000013571700001724650000180568000098570000103990000060864100006190400000112880000461500001133550000016505100002521800000198276000011922400009449500000534350000717610000076283000095894400000020924940000325370000010864820000141185200001411852000000001004550000100455000011822000021000011229800000456380000332093000037773100008217800004599090000540260000104080000440010000568344000000680642000020924940000Security deposits85490000Fixed deposit with maturity of more than 12 months5555430000Interest accrued445490000Capital Advances1770000Income Tax Asset44380000Security deposits60680000Recoverable from payment partners370330000Unbilled revenue0Interest accrued103340000Balance with government authorities582950000Prepaid expenses62710000Advance to suppliers57270000Right to receive inventory on provision for sales return net of provision54510000Advance to employees5390000Lease Liablities1004550000Lease Liablities348910000Employee benefits payable332330000Payable for capital goods7040000Non Controlling Interest Liablities108130000Other current financial liabilities25370000Statutory dues payable176160000Advance from customers40890000Provision for sales return300430000Deferred revenue2278000013138000027540000-6555400000-41074000000-5373000001179200000157480000044402000000835800001382100000-45400000632310000288270000-209400001410000-1416800000-247100000-55720000020168300000006033700000141346000000019222400000999800000042100007440000000000000000665215000051316100000000040125000000-170620000003950000000000037394000001028000000-38027000086257000008625700003296700001192240000Re-measurement gains/(losses) on defined benefit plans32000003200000Re-measurement gains/(losses) on defined benefit plans492900004929000081000012410000Net exchange gain /(loss) on translation of foreign operations630000630000Net exchange gain /(loss) on translation of foreign operations1490000149000000302000038370000AuditedtrueS.R.Batliboi & Associates LLPtrue2027-07-31