Honasa Consumer, the parent firm of D2C brands such as Mamaearth, The Derma Co, and BBlunt, shares hit all time high BSE on Monday, August 26. The buying interest in the stock sparked after the company received an order from the National Company Law Tribunal, Chandigarh regarding the scheme of amalgamation between Just4Kids Services Private Limited, Fusion Cosmeceutics Private Limited, and Honasa Consumer.
“Intimation of receipt of the order of the Hon’ble National Company Law Tribunal, Chandigarh Bench in relation to the Scheme of Amalgamation between Just4Kids Services Private Limited, Fusion Cosmeceutics Private Limited, and with Honasa Consumer Limited,” the exchange filing read.
At around 10:21 AM, shares of Honasa Consumer were up 11.31 per cent or Rs 53.05 at Rs 522.25 per share. The market capitalisation of the company at around the same time stood at Rs 1,69,336.5 million.
Just4Kids Services was incorporated in 2010. It provides a platform to access information about the city’s playschools and schools, hobby and sports classes, fun events, summer camps, and workshops for kids in Delhi, Gurgaon, Noida, Faridabad, and Ghaziabad.
Further, Fusion Cosmeceutics is primarily engaged in the formulation and trading of skin care products.
On April 19, the board of Honasa approved the scheme of amalgamation between the above-mentioned entities.
“The Board of Directors of the Company, at its meeting held today i.e. on April 19, 2024, considered and approved the scheme of amalgamation…providing for the amalgamation of wholly owned subsidiaries of Honasa Consumer Limited namely, Fusion Cosmeceutics Private Limited (Transferor Company-1) and Just4Kids Services Private Limited (Transferor Company-2) into and with Honasa Consumer Limited,” the filing said.
Honasa Consumer Q1FY25 results
Honasa Consumer in the quarter that ended June reported a net profit of Rs 40.2 crore, a jump of 62.7 per cent as compared to Rs 24.7 crore in the year-ago period. The company had posted a profit of Rs 30.5 crore in the previous quarter.
The company’s consolidated revenue from operations was up 19 per cent year-on-year (Y-o-Y) to Rs 554.1 crore in Q1 against Rs 464.5 crore a year ago and Rs 471.1 crore in Q4 FY24.
First Published: Aug 26 2024 | 10:32 AM IST
