Mamaearth parent guides strong Q2 NSV growth
Honasa „*“, the listed parent of direct-to-consumer brand Mamaearth, has guided for consolidated net sales value growth in the low-to-mid double digits year-on-year for the quarter ending September 2026. The projection, disclosed in a stock-exchange filing, follows a first-quarter performance that already delivered similar growth rates.
The guidance arrives!
--yet broader e-commerce volumes remain sluggish, and venture funding for consumer startups has cooled after a recent rebound.
Honasa’s ability to sustain robust NSV growth—while maintaining industry-leading gross margins—suggests pricing power and repeat rates are offsetting slower new-customer acquisition. Whether this momentum can extend beyond the current quarter will depend on festive-season performance and macro stability, factors investors are already scrutinizing in Nykaa’s upcoming results.
Sources: economictimes.indiatimes.com
“The guidance signals sustained momentum in India’s premium D2C segment despite broader e-commerce slowdowns.”
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- Mamaearth, Nykaa expect strong growth momentum in Q2 FY27 — economictimes.indiatimes.com
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