Honasa Shares Surge On Q1 Earnings, Chart Breakout: SEBI RA Prabhat Mittal Sees Nearly 20% Upside Potential

Technical charts now signal a breakout, with analyst targets up to ₹352.

Mamaearth parent Honasa Consumer's shares rose 12% in early trade on Wednesday on the back of its June quarter (Q1 FY26) earnings and an upgrade coming in from brokerage firm CLSA.

The company posted a 2.64% year-on-year (YoY) profit increase to ₹41.32 crore in Q1. Revenue grew 7.4% to ₹595.25 crore, while EBITDA declined slightly. 

During the post-earnings analyst call, Chairman and CEO Varun Alagh attributed the impact on growth to an early monsoon. Management has also guided for an EBITDA margin of about 7% in FY26, with a focus on improving profitability by 100–150 basis points each year.

Meanwhile, CLSA upgraded Honasa Consumer stock to 'Outperform' and raised its price target to ₹333, citing a higher margin outlook.

Technical Watch

SEBI-registered analyst Prabhat Mittal is also bullish on Honasa. He noted that the stock formed a rounding bottom pattern from December 2024, exhibiting good strength and a sign of accumulation during the February 2025 market correction.    

Following the earnings report, the stock is trading above its 20, 50, 100, and 200-day Moving Average (DMA), indicating a positive trend. And its Moving Average Convergence Divergence (MACD 12,26) is also giving a buy signal.

Mittal advised traders to buy it at ₹299 with a strict stop loss of ₹279 for a target price of ₹332 and ₹352.

What Is The Retail Mood?

Data on Stocktwits shows that retail sentiment turned ‘bullish’ a day ago on this counter.

Honasa shares have rallied 14% year-to-date (YTD). 

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