Mamaearth Allots 3.59 Lakh Shares Under ESOP Scheme

Honasa Consumer Ltd, the parent entity of Mamaearth and The Derma Co, have allotted 3.59 Lakh equity shares under the employee stock option plan (ESOP). 

The company’s nomination and remuneration committee on March 6 approved the allotment of 3,59,604 equity shares having a face value of INR 10/- each as fully paid up upon exercise of vested options to identified employees, the company informed in an exchange filing. 

Of these 3.59 Lakh equity shares, 3.57 Lakh shares were issued under ESOP 2018 while the remaining 2,259 shares were offered under ESOP 2021. 

The value of the newly allotted equity shares translated to INR 79.8 Cr as per the stock’s previous closing price of INR 222.10. 

Consequent to this allotment, the total paid-up equity share capital of the company will be increased to INR 325.18 Cr from INR 324.82 Cr. 

This comes after the company’s board in January approved the allotment of 45,663 stock options under ESOP. Prior to that in September 2024, the company issued 5,79,849 equity shares to its eligible employees under its employee stock option plan (ESOP). 

Founded in 2016 by the husband-wife duo Varun and Ghazal Alagh, Honasa’s product portfolio comprises six beauty and personal care brands which include Mamaearth, The Derma Co., Aqualogica, Ayuga, BBlunt and Dr. Sheth’s.

On the financial front, the company’s net profit remained flat in the third quarter of fiscal year 2024-25 (Q3 FY25) at INR 26.02 Cr against INR 25.90 Cr in the year-ago quarter. Sequentially, the company recovered from an INR 18.58 Cr loss.

Its revenue from operations grew 6% YoY and 12% QoQ to INR 517.51 Cr during the quarter under review.