Honasa Consumer stock plunges 18%, takes two-day fall to 35%; here are share price targets
Shares of Honasa Consumer Ltd tumbled 18 per cent in Tuesday’s trade, in addition to a 20 per cent plunge in the previous session, after a weak set of September quarter results.
Honasa’s Q2FY25 earnings print was below expectations due to higher than anticipated impact of inventory correction, weaker than expected performance in Mamaearth and challenging demand scenario.
The management highlighted that structural changes to existing playbook are required with changing operating landscape.
“We like the management’s intent in terms of identifying execution gaps. However, given the tough environment & various pilots/transitions underway; the ramp up in offline channel will be gradual & take few quarters before reverting to…
