Mamaearth parent Honasa Consumer has called off its proposed acquisition of a 58% stake in Fluence Pharma after the closing conditions under the share purchase agreement were not fulfilled. Honasa had announced the acquisition on June 23, subject to the completion of conditions precedent.
The development comes after the company reported a 118.4% year-on-year increase in net profit to ₹90.2 crore for Q1FY27, compared with ₹41.3 crore in the year-ago quarter. Revenue rose 27% to a record ₹756 crore from ₹595.2 crore, while EBITDA increased to ₹110.1 crore from ₹45.7 crore.
The company's EBITDA margin improved to 14.57% from 7.68% a year earlier, while its profit after tax margin stood at 11.5%. The stock has gained 69.61% so far this year and 62.21% over the past year. It has risen 59.47% in six months, 24.09% in three months and 8.23% over one month.
The stock is up 2.30% over the past week and 3.61% over two years.