Honasa Consumer buys 58% of Fluence Pharma for ₹135 crore

Honasa’s existing portfolio includes Mamaearth, The Derma Co., Aqualogica, and Dr. Sheth’s. Those brands rely on distribution through e-commerce and general trade. Nutraceuticals typically sell through chemist channels and direct-to-consumer subscription models, a distribution network Honasa will need to build or acquire. Fluence Pharma’s current presence is mostly online, the filing noted.

India’s nutraceutical market has grown at roughly 15% annually over the past five years, driven by rising health awareness and digital-first brand building, industry data shows. Honasa is not the only beauty company to pivot in that direction. Marico’s Beauty and Wellness division has launched supplements under its Livon and Set Wet labels. Dabur already has a large ayurvedic nutraceutical business in Dabur Chyawanprash.

For Honasa, the acquisition diversifies revenue beyond a personal care market that has shown slowing growth in recent quarters. The company’s revenue grew 22% in fiscal 2026, gross margins were flat. Nutraceuticals, with their higher ticket sizes and replenishment cycles, could lift average order value and customer retention if scaled correctly.

The transaction is subject to standard closing conditions. Honasa expects to complete the first tranche within the current quarter.