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The shares dipped by 6.10% to INR 205.05 apiece during the intraday trading on BSE today (January 31), touching a fresh all-time low
However, the stock covered some of its loss later
At 12:08 PM the shares were trading at INR 219 apiece, 0.18% up from its previous close at INR 218. 60
Shares of Honasa Consumer, the parent of Mamaearth, dipped by 6.10% to INR 205.05 apiece during the intraday trading on BSE today (January 31), touching a fresh all-time low.
However, the stock covered some of its loss later.
At 12:08 PM the shares were trading at INR 219 apiece, 0.18% up from its previous close at INR 218. 60.By that time, Honasa’s market capitalisation stood at INR 7,131.51 Cr with more than 15 Lakh shares trading hands.The decline in Honasa’s share comes a day after its subsidiary, The Derma Co. launched its first brand store in Gurugram.
This comes at a time when Honasa is going through a rough ride. In 2024, the company lost its unicorn tag. On the financial front, Honasa slipped into the red in the quarter ended September 2024 (Q2 FY25) after posting a consolidated net loss of INR 18.6 Cr, against a net profit of INR 29.4 Cr in the year-ago quarter.
During this quarter, Honasa’s revenue from operations declined nearly 7% to INR 461.8 Cr from INR 496.1 Cr in Q2 FY24.
In November last year, the All India Consumer Products Distributors Federation (AICPDF) alleged that the large unsold inventory of Honasa Consumer was lying with distributors and retailers, saying it was causing a financial burden of INR 300 Cr.
Last week, Honasa approved the allotment of 45,663 stock options under employee stock option plan (ESOP).
Earlier this month, the company roped in Snapdeal’s Lokesh Chhaparwal as senior vice president of technology and engineering.
This development was followed by Honasa’s chief business officer (CBO) Zairus Master resigning from his post.