# Honasa reported a better-than-expected quarter, with underlying revenues growing in the high-20s YoY.

*business · news · 2026-04-10 · NDTV Profit*

## Key points

- Goldman Sachs raised Honasa Consumer's target price to Rs 365 from Rs 330 after Q4FY26 results.
- Honasa's underlying revenues grew in the high-20s YoY, partly due to recent acquisitions.
- Operating margins exceeded expectations due to lower ad spends and tighter control over fixed overheads.
- Goldman Sachs increased Honasa's FY26-FY28 EPS estimates by 12.7%, 15.2%, and 13.8%, respectively.
- Despite strong results, Goldman Sachs maintained a Neutral rating, citing already priced-in valuations.

**Companies:** Goldman Sachs, Honasa Consumer
**Countries:** India, United States

[Read the full story on NDTV Profit](https://www.ndtvprofit.com/markets/honasa-q4-business-update-mamaearth-boost-lifts-outlook-goldman-sachs-raises-price-target-11336784)

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