mama earth collab - Business Outrank

Duplication Just4Kids Services Private Limited and Fusion Cosmetics Private Limited, two of Honasa Consumer's fully owned subsidiaries, have been authorized for merger with the parent company of D2C brand Mamaearth, which is situated in Delhi-NCR. The merging plan, according to Honasa, would require clearance from multiple regulatory bodies, including the National Company Law Tribunal's Chandigarh and New Delhi benches. This was stated in an exchange filing. According to Honasa, the merger would reduce duplication of expenses and increase financial efficiency. It stated, "The combined entity's competitive position will be enhanced and overall shareholder value would be maximized as a result of the resultant operations, which are anticipated to be significantly cost-efficient." It also stated that the combination will remove structural layers, provide a focused management focus, and aid in more effective cash management. The parent firm of Dr. Seth's, a brand primarily involved in skincare product creation and trade, is Fusion Cosmetics. In May 2022, Mamaearth paid INR 28 Cr. for the controlling interest in Fusion Comecutics. INR 76.6 Cr was the revenue recorded by Fusion Comecutics during the first nine months of 2024. Conversely, Momspresso's parent business, Just4Kids, provides moms with pregnancy and parenting assistance in eight regional languages in addition to English and Hindi. It is important to remember that Mamaearth paid INR 167.9 Cr for Momspresso, which was their first purchase. Momspresso's website was taken down before its initial public offering (IPO) and is still unavailable. Mamaearth was closing Momspresso MyMoney and its brand marketing vertical, according to an exclusive scoop from Inc42 in July of last year. The firm laid off 80–100 workers earlier in 2023 before closing these verticals. By Mamaearth's red herring prospectus (RHP), the board of the firm resolved to "scale down" most of Momspresso's business verticals during a meeting in March 2023. In addition, Honasa recorded a net loss of INR 151 Cr for FY23 as a result of having to accept a goodwill impairment loss of INR 136 Cr. Mamaearth deducted INR 136 Cr from her goodwill towards Just4Kids. In all, it declared INR 155 Cr in extraordinary items before tax in FY23 as a result of goodwill and other intangible asset impairment. Without it, the firm would have declared a net profit for the year in question of almost INR 3.7 Cr. For the first nine months of FY24, Just4Kids recorded revenue of INR 4 Cr. On the BSE, Honasa's shares closed Friday's trading session 0.9% higher at INR 385.75.

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