Honasa Consumer zooms 14% to new high on NCLT nod for Just4Kids, Fusion Cosmeceutics merger

Honasa Consumer stock made its debut on NSE on November 7 last year at Rs 330, and since then, it has rallied 63 percent.

Shares of Honasa Consumer, the parent firm of D2C brands such as Mamaearth, The Derma Co, and BBlunt, surged over 14 percent to hit an all-time high of Rs 534.90 on NSE.

The surge in stock interest followed the company receiving an order from the National Company Law Tribunal, Chandigarh, approving 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 company said in an exchange filing.

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Incorporated in 2010, Just4Kids Services provides a platform to access information about the city's playschools and schools, hobby and sports classes, events, summer camps, and workshops for kids in Delhi, Gurgaon, Noida, Faridabad, and Ghaziabad.

Meanwhile, Fusion Cosmeceutics is primarily engaged in the formulation and trading of skincare products. On April 19, Honasa Consumer's board approved the scheme of amalgamation between these two entities.

At 11:58 am, Honasa Consumer shares were trading 13 percent higher at Rs 533.10 on the National Stock Exchange (NSE). The company's stock has risen 22 percent in the last six months, beating Nifty's returns of around 13 percent during this period. The stock made its debut on NSE on November 7 last year at Rs 330, and since then, it has rallied 63 percent.

Honasa Consumer reported a net profit of Rs 40.2 crore in the quarter that ended in June, a jump of 62.7 percent year-on-year. The company’s consolidated revenue from operations rose 19 percent YoY to Rs 554.1 crore.

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