October 31, 2023 - November 2, 2023

Mamaearth IPO Review & Recommendations

Choice Equity Broking Pvt Ltd, Emkay Global, Geojit Securities Ltd, Hem Securities, Indsec Securities and Sushil Finance Ltd have given "Apply" recommendation to Mamaearth IPO. Dilip Davda has given "May Apply" recommendation to Mamaearth IPO. Capital Market has "Neutral" view about the IPO. Swastika Investmart Ltd recommend to "Avoid" the IPO.Axis Capital, Canara Bank Securities Ltd, HDFC Securities Limited and Ventura Securities Limited have "Not Rated" the IPO.

Mamaearth IPO Review Summary from brokers and analysts

Review By	Apply	May Apply	Neutral	Avoid	Not Rated
Count	6	1	1	1	4
%	46.15	7.69	7.69	7.69	30.77

Mamaearth IPO Analysis By Brokers/Analysts

Reviewer	Recommendation	Past Reviews
Axis Capital	Not Rated
Canara Bank Securities Ltd	Not Rated
Capital Market	Neutral
Choice Equity Broking Pvt Ltd	Apply
Dilip Davda	May Apply
Emkay Global	Apply
Geojit Securities Ltd	Apply
HDFC Securities Limited	Not Rated
Hem Securities	Apply
Indsec Securities	Apply
Sushil Finance Ltd	Apply
Swastika Investmart Ltd	Avoid
Ventura Securities Limited	Not Rated

Mamaearth IPO Capital Market Rating

The Captial Market (CapitalMarket.com) rating for Mamaearth IPO is 41. Their analysis recommends Avoid, however active risk seekers can try for the IPO.

Reviewer	Rating Score	Rating
Capital Market	41	Avoid, however active risk seekers can try

Mamaearth IPO Review by Dilip Davda (May apply)

[Dilip Davda] The company has posted fast growth in the last five years with over 65% EBITDA margins and is poised for bright prospects ahead. It enjoys asset light model of business. It is now considering offline marketing with its own outlets and will continue to launch more products in coming years. Based on annualized FY24 earnings, the issue is aggressively priced discounting all near term positives. Perhaps the company is abstracting fancy valuation for its proven track record so far. Well-informed investors may consider parking moderate funds for medium to long term rewards. Read detail review...

Honasa Consumer Limited IPO Peer Comparison

Honasa Consumer Limited peer comparison with similar listed entities. (Consolidated) (As on March 31, 2023)

Company Name	EPS (Rs)		NAV (per share) (Rs)	P/E (x)	RoNW (%)
Company Name	EPS Basic	EPS Diluted	NAV (per share) (Rs)	P/E (x)	RoNW (%)
Honasa Consumer Limited	-4.66	-4.66	19.27		-23.57
Hindustan Unilever Limited	43.07	43.07	215.02	59.16	20.08
Colgate Palmolive (India) Limited	38.50	38.50	63.11	54.25	61.01
Procter & Gamble Hygiene and Health Care Limited	208.91	208.91	291.44	83.12	71.68
Dabur India Limited	9.64	9.61	53.29	54.53	18.02
Marico Limited	10.08	10.05	30.59	54.28	33.42
Godrej Consumer Products Limited	16.65	16.65	134.88	59.09	12.34
Emami Limited	14.50	14.50	52.43	34.82	27.13
Bajaj Consumer Care Limited	9.48	9.47	55.10	25.65	17.63
Gillette India Limited	109.15	109.15	303.47	57.82	35.97

Notes:

All the financial information for the Company above is on a consolidated basis. The Basic EPS, Diluted EPS, Net Worth, and the number of equity shares as at and for the Fiscal ended March 31, 2023, have been adjusted to give effect to the consequent changes in share capital pursuant to the conversion of outstanding NCCCPS into equity shares and the proposed issuance of equity shares against the outstanding options granted to the employees under the ESOP 2018 and ESOP 2021. The computation considering the aforementioned effects has been carried out in accordance with the requirements of SEBI ICDR Regulations and therefore the Basic EPS, Diluted EPS, Net Worth, and the number of equity shares outstanding as of the end of the year have not been derived from Restated Ind AS Summary Statements.
All the financial information for the competitor entities mentioned above is on a consolidated basis and is sourced from the annual reports as available of the respective company for the year ended March 31, 2023 / June 30, 2023 (as applicable) submitted to Stock Exchanges.
Since Basic and Diluted Earnings Per Share for the year ended March 31, 2023, is negative P/E ratio of the Company is not ascertainable.
For Procter & Gamble Hygiene & Health Care Limited and Gillette India Limited, data is for the Fiscal ended/ as of June 30, 2023.
For the competitor entities, the Basic and Diluted EPS refers to the Basic and Diluted EPS sourced from the financial statements of the companies respectively for the Fiscal ended March 31, 2023 / June 30, 2023 (as applicable).
Return on Net Worth (%) = Profit/(loss) for the year ended March 31, 2023 / June 30, 2023 (as applicable) divided by Total Equity of the Company as of March 31, 2023 / June 30, 2023 (as applicable).
NAV refers to Net Asset Value per Equity Share and is computed as the Total Equity of the Company as of March 31, 2023 / June 30, 2023 (as applicable) divided by the outstanding number of equity shares as of March 31, 2023/ June 30, 2023 (as applicable).

Mamaearth IPO Review by Members

Mamaearth IPO Reviews, analysis and views by popular members. Read Honasa Consumer Limited IPO reviews by retail investors to find recommended ipo to buy.

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Mamaearth IPO Review Summary by Members

Review By	Apply	May Apply	Neutral	Avoid
Count	1	0	2	11
%	7.14	0.00	14.29	78.57

Member	Review
R.A. Top Contributor (300+ Posts, 100+ Likes)	Avoid Avoid, esa mano ki ye IPO aaya hi nhi hai. November 1, 2023 10:46:03 PM
Display Top Contributor (400+ Posts, 200+ Likes)	Avoid Do not look to be a long term bet and short term do not seem to be giving enough gains November 1, 2023 4:49:24 PM
Ankit Dhakad	Avoid Overvailued and looks like paytm, cartrade tech etc. Avoid November 1, 2023 12:48:06 PM
Hariom Sharma IPO Advisor	Avoid Mamaearth valudation has been dropped around 50% in last 6 months. dont subscribe November 1, 2023 8:17:27 AM
aryan sa	Avoid HIGHLY OVERVALUED November 1, 2023 12:09:44 AM
N Tambe	Avoid Chor hai company October 31, 2023 11:57:00 PM
newgen consultancy IPO Guru (3400+ Posts, 6500+ Likes)	Neutral Risk takers can apply for 6-10% listing gains and some post issue demand . Others can Avoid considering a discount chances of 5-8 % October 31, 2023 10:27:59 PM
B.M.SURANA IPO Guru (2700+ Posts, 5300+ Likes)	Avoid Bahot Jyada Premium he re Baba Ghate Wali Company. October 31, 2023 8:25:51 PM
CL Kumhar	Avoid No meaningful business has been done so far. Fundamentals do not warrant any premium. October 31, 2023 6:02:39 PM
riz	Avoid Over valued October 31, 2023 4:46:32 PM
Crow IPO Mentor (900+ Posts, 1100+ Likes)	Neutral Difficult to assess this IPO as it has a mix of euphoria and poor economics. October 31, 2023 1:16:33 PM
Ak Lakhotia	Apply for Long Term at Upper Price Band Reasonable valuation- available at 8 times sales and 10 times balance sheet size...listing gain may be on lower side due to sentiment for these type IPO but looks good for longer term October 31, 2023 12:41:54 PM
Ashishmorbia	Avoid So low promotor holding. And loss making company.. only 1 yr profit in last 3 yrs.. October 27, 2023 5:26:22 PM
AIExpert	Avoid This company is in losses. Massive money syphon off. Do not apply for this ipo brothers. They are looting the hard earned wealth. October 24, 2023 11:04:05 AM

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