Honasa hits a new high

Honasa Consumer is the top gainer today, rising 7.5% to Rs. 387.10 after opening higher at Rs. 385.85 versus the previous close of Rs. 360. The stock hit a fresh 52-week high of Rs. 397.65 (day’s range Rs. 382.25–397.65) with the counter seeing about 12.26 lakh shares traded and turnover of roughly Rs. 47.95 crore, even as the broader market tone stayed mixed.

The move is being read as a re-rating on profitability and cash conversion, following a strong Q4FY26 print and the company’s first-ever dividend announcement. For Q4FY26, Honasa reported record revenue of Rs. 682 crore, up 28% (YoY) alongside a sharp improvement in operating leverage, with EBITDA at Rs. 77 crore, up 185%.  and PAT at Rs. 69 crore, up 175%, translating into a PAT margin of 10.5%. A stated negative working-capital cycle of 14 days adds to the “quality of earnings” narrative, suggesting tighter inventory/receivable management as the company scales.

For FY26, revenue rose 20% to Rs. 2,479 crore with gross margin reported at 71.2%, while EBITDA grew to Rs. 231 crore, up 237% and PAT rose 175% to Rs. 200 crore. The proposed maiden dividend of Rs. 3 per share (subject to shareholder approval) implies a cash payout of about Rs. 98 crore, which markets typically interpret as added confidence in cash flows and balance-sheet discipline for a new-age consumer name.

The key monitorable from here is whether Honasa can hold the margin step-up while maintaining growth momentum across channels, especially as competitive intensity in online and modern trade remains high and marketing spends can swing quarterly profitability.