Honasa shares: Global brokerage Jefferies maintained a ‘Buy’ rating with a target price of ₹400, noting 7% YoY revenue growth in line with estimates. Gross margin contracted ~50 bps YoY, while A&P spending rose 3%. EBITDA margin slipped ~60 bps YoY to 7.7% (+2.6 ppt QoQ). EBITDA was flat YoY, but net profit saw slight growth, both exceeding expectations.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets