Mamaearth shares jump 4% today; here's what is happening

Shares of Mamaearth's parent company Honasa Consumer Ltd rose sharply in Monday's trade. The stock surged 4.47 per cent to hit a day high of Rs 403.55.

Today's rise came after The Derma Co, a skincare brand of Honasa, said it has achieved an annual revenue rate (ARR) of Rs 500 crore. The ARR of Rs 500 crore is an increase from Rs 350 crore that the company had touched in September 2023.

The company, which makes products across categories such as face serums, hydrating sunscreens, sunscreen sticks, and acne patches, and customises them for Indian skin and weather, sold over 1 crore units in the last fiscal year, The Derma Co said in a release.

"The Derma Co's remarkable achievement of Rs 500 crore annual run rate is a strong testament to our strategic brand-building approach at Honasa Consumer Limited. At Honasa, we are committed to continue our quest towards fueling our innovations and offer brands that serve the evolving consumer demands," Varun Alagh, co-founder and CEO of Honasa Consumer Ltd, said.

"The Derma Co is focused on its purpose of imparting science education through 'The Young Scientist' initiative, by actively engaging with children in rural and remote corners of India," the company stated.

This initiative has not only contributed positively to the society but also solidified The Derma Co's mission of keeping science and environmental awareness at the forefront of its brand ethos, it added.