Honasa Consumer Limited · NSE:HONASA
Honasa Consumer — Investor Day (June 2026)
35 slides from Honasa Consumer's investor day presentation, Jun 10, 2026
Slide 1: Stock exchange cover letter for Investor Day presentation
June 10, 2026 Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Symbol: HONASA Scrip Code: 544014 Sub.: Investor Day 2026 - Presentation __________________________________________________________________________________ Dear Sir/Madam, In continuation to our
Slide 2: From Disruptor to Market Leader
From Disruptor to Market Leader INVESTOR DAY · 2026
Slide 3: Until 2010s, offline muscle and mass media rewarded scale, not innovation
Until 2010s, offline muscle & mass media built a playbook that rewarded scale, not innovation 1 2 Offline was the Key Celebrity led mass-media Channel Offline communication One-size fits all = distribution moat Mass-media communication No room for challengers No media available to target specific cu
Slide 4: 2010-2020: three forces each broke a barrier legacy had held
2010-2020 | The years that brought three forces — each broke a barrier legacy had held 1 Rise of e-commerce 2 Rise of digital media 3 Rise of influencers Broke the offline barrier Broke the communication barrier Broke the social proof barrier 45x 12x 150Mn+ Growth in e-comm Penetration1 Growth of di
Slide 5: Two individuals used PF savings to start Mamaearth
These changes allowed just two individuals to use their PF savings and start a brand called ‘Mamaearth’ 4
Slide 6: Mamaearth was built on five key capabilities
Mamaearth was built on five key capabilities, which led to the fastest 1000+ Cr FMCG brand 1 3 4 5 Consumer-first Digital-first Digital-first channel Data-first Consumer innovation communication leadership approach Obsessed Talent playbook Fast product cycles that Creator & Community Pioneer in D2C
Slide 7: Replicating the playbook to build more brands
We then replicated the same playbook to build more brands across propositions and categories Build Acquisitions 2016 2020 2021 2024 2022 2022 2026 2% Kojic Acid Face Serum Hero Product image Hero Product image Hero Product image Hair Fall Control Shampoo Rice Face Wash Image Image Clean and toxin-fr
Slide 8: Expanded channel footprint to access all consumer touchpoints
We also expanded our channel footprint to access all consumer touchpoints From a Digital-First to a truly Omni-channel distribution Own Platform E-Commerce Modern Trade General Trade Quick Commerce 7 HONASA
Slide 9: An operationally and financially strong business
We have built an operationally and financially strong business The Start: FY17 Today: FY26 ~INR 2 Cr FY17 revenue ~INR 2,400 Cr INR 230 Cr+ Revenue from Operation EBITDA ~INR 200 Cr INR 130 Cr+ Profit After Tax Generated Free Cash 1 Brand 1 Category - Baby 10 people 7 FOCUS CATEGORIES 7 BRANDS ~1,00
Slide 10: 4 key myths that I would like to bust
4 key myths that I would like to bust 9
Slide 11: Myth 1: Honasa is present across all major BPC categories already
A Myth 1 : Honasa is present across all major BPC categories already, where is the headroom for growth?? 24 BPC categories worth USD …translate into 100+ partitions We've barely started playing 20+ Bn in India… Face Wash Sunscreen Shampoo Serum 8 Partitions where Honasa has dominant (>10%) Facewash
Slide 12: Myth 2: Scale channels like GT/MT will hurt margin profile
B Myth 2 : As Honasa goes into scale channels like GT/MT, it will impact its margin profile negatively since these are legacy strongholds 2025 Estimated current industry salience3 Build Channels Scale Channels 2% 15% 28% 52% 3% Own Platform E-Commerce Modern Trade General Trade Quick Commerce Channe
Slide 13: Myth 3: Honasa is cutting brand spends to chase profitability
C Myth 3 : To chase profitability Honasa is cutting down brand spends & not prioritizing growth! Launch Grow Scale Future From Launch to Future | ~ 30% OF EBITDA Leverage 300 ₹100 Cr ₹450–500 Cr ₹750 Cr ₹1,500+ Cr ARR 25% 20% EBITDA 20% % 250 15% 200 10% 10% 150 5% 2% Brand 300 0% Spends 100 150 (Rs
Slide 14: Myth 4: Honasa is too young to deliver on its promises
D Myth 4 : Honasa is a young company, they cannot deliver on their promises! WHAT WE PROMISED WHAT WE DELIVERED 1 Expand EBITDA margin by 100-150 bps → EBITDA margin ~7% (Q4FY24) → 9.9% (FY26) 2 Reignite Mamaearth growth → Mamaearth is back to teens growth 6x growth in direct distribution in last tw
Slide 15: Let's talk future
HONASA INVESTOR | DAY 2026 N\
Slide 16: The next decade brings four new forces
The next decade brings four new forces - each rewriting how brands will be built Changing media landscape 01 Rise of Gen Z & Gen Alpha 02 OTT to 700M+ users · Social Media to 850M+ users Product-literate & authenticity first customer will · Reels-first · Vernacular at scale drive ~50% of the BPC mar
Slide 17: Wherever these forces converged, home-grown brands won
Wherever these forces converged, home-grown brands won Insurgent brands – The Gain in Market Share 2,200+ bps 1,500+ bps 1,700+ bps Opportunity?? 47% 35% 32% 16% 14% 11% 13% E-commerce 7% contribution to Retail 2019 2025 2019 2025 2019 2025 2025 2031E US Indonesia China India1 16 1. Redseer, Nielsen
Slide 18: Building Honasa 2.0 for the next decade
Building Honasa 2.0 for the next decade 17
Slide 19: Innovation: From Speed to Velocity (1/2)
1 Innovation | From Speed to Velocity (1/2) Honasa 1.0 | We innovated 6–8x faster than FMCG Honasa 2.0 | Speed continues, accuracy improves Trend mapping to enable quick signal to shelf journey Trend mapping + Launch Testing - fewer misses, more wins + Predicts consumer behaviour to generate sharper
Slide 20: Innovation: From parity to superiority becoming the norm (2/2)
1 Innovation | From parity to superiority becoming the norm (2/2) Honasa 1.0 | Product parity with global competition Honasa 2.0 | Product superiority — in every core partition Bringing products to market fast, with a lean R&D team Beat global FMCG products in third-party blind tests Enabled by Enab
Slide 21: Communication: From Creator-led to Personalized & UGC-led
2 Communication | From Creator-led to Personalized & UGC-led communication Honasa 1.0 | Creator & Community led marketing Honasa 2.0 | Personalized & UGC-led communication MESSAGE MESSAGE Thousands of creatives Lacs of creatives Influencer-led UGC-led TIME to LAUNCH TIME to LAUNCH 3-4 Week 1 week Fr
Slide 22: Channel - Online: From Great Execution Every Day to Every Minute
3 Channel - Online | From Great Execution Every Day to Every Minute, enabled by AI We create brands on D2C, then scale them on E-commerce platforms Honasa 1.0 | Great Execution Every Day Honasa 2.0 | Great Execution Every Minute PERFORMANCE SPEND PERFORMANCE SPEND Data-lead manual intervention Agent
Slide 23: Channel - Offline: Distribution geared to win at 300k+ BPC outlets
3 Channel - Offline | Distribution geared to win at 300k+ BPC outlets enabled by AI Honasa 1.0: Winning Online, Entering Offline Honasa 2.0: Distribution resurrected Honasa 3.0: FY31 Vision Online 1st brand making a mark in offline Transition to Direct-distribution model Current Direct distribution
Slide 24: Technology: From Intelligent Insights to Intelligent Actions
4 Technology | From Intelligent Insights to Intelligent Actions ERP & spreadsheets formed operational Honasa 1.0 | Running on live backbone intelligence with automation solutions Honasa 2.0 | Agent OS is turning tech in to a compounding moat 30 + Spread across 6 business AI Agents functions Real-Tim
Slide 25: Brand Building Playbooks: New Brands - Profitable by Design
5 Brand Building Playbooks | New Brands - Profitable by Design Honasa 1.0: 4 years to contribution margin neutrality To Brand Building Playbook 2.0 Enabled By 1 2 3 4 Partition Additive Hero SKU Entrepreneur in AI toolkits built from entry Focus Residence led pods past playbooks Leading to Year 2 Co
Slide 26: Talent: From Pedigree to Attitude
6 Talent | From Pedigree to Attitude Honasa 1.0 | Talent for Scale and Speed Honasa 2.0 | Creating Leaders of Future 1 1 Hiring for Attitude Hiring Philosophy Builder mindset over pedigree Experience Pedigree FMCG Playbook 2 Reward Structures Tied to organisation goals, not legacy FMCG norms 2 Indus
Slide 27: The heart of business building stays the same
While everything else evolves, the heart of business building stays the same Founder-led, Stronger governance Disciplined capital brand-builder DNA model efficiency 26 HONASA
Slide 28: Let's share our FY31 vision
Let’s share our FY31 vision 27
Slide 29: Five goals that define winning in FY31
Five goals that define what winning looks like in FY31 for Honasa 1 2 3 Fastest FMCG to ₹5,000+ Cr Mamaearth at ₹2,000+ Cr More flagship brands Become the fastest FMCG company Already fastest brand to ₹1,000 Cr — One more ₹1,500+ Cr brand in The in India to reach ₹5,000+ Cr now the fastest to ₹2,000
Slide 30: Our journey to 5,500+ Cr revenue by FY31
Our journey to 5,500+ Cr revenue by FY31 INR 5,500+ Cr Revenue Next Horizon Core Brands Young Brands Categories INR 3,750 Cr INR 1,500 Cr INR 250 Cr • Nutraceuticals • Fragrances • Oral Care 29 HONASA
Slide 31: Our omni-channel approach to deliver our FY31 goals
Our omni-channel approach to deliver our FY31 goals All values are FY31 NSV in Rs Cr 750-800 700 - 750 550 - 600 700 - 750 400 - 450 5,500 + 5000 ++ 5,500 2,400 FY26 Own Platform E-commerce Quick commerce General Trade Modern Trade FY31 30 HONASA
Slide 32: Our approach to deliver +500 bps margin improvement by FY31
Our approach to deliver + 500 bps margin improvement by FY31 +500 Bps unlock 100-150 bps 100-150 bps 150-200 bps 100-150 bps Channel Spend Improved Operating ~15% Changing Efficiencies Channel Mix Leverage Category Mix ~10% Higher expected salience of Payroll Leverage, Partitions delivering Efficien
Slide 33: Our 10 Year Vision
Our 10 Year Vision Honasa lives to provide innovative, high-quality products purposefully crafted specifically for the needs of evolving Indians across BPC category BUILDING INDIA’S LARGEST PUREPLAY BPC COMPANY
Slide 34: Join India's fastest growing BPC company
Judna chaahte ho India ki sabse fastest growing BPC company ke saath!
Slide 35: Thank you
Thank you Investor Relations · Honasa Consumer Ltd · 2026