Honasa Consumer Limited, the Gurugram-based parent company of Mamaearth and other digital-first personal care brands, announced on Wednesday the appointment of Dheeraj Nagpal and Madhur Acharya to lead its next phase of category creation.
Both executives will concentrate on identifying and developing new consumer brands, indicating a strategic shift beyond the company’s existing portfolio. This move comes as the company’s stock trades at a P/E ratio of 72.73 on the NSE, reflecting robust investor expectations regarding future growth. On May 13, 2026, the stock closed at ₹347.10, down 0.30 percent for the day, yet it has seen a significant return of 34.71 percent over the past year, significantly surpassing the Nifty 500’s growth of 0.13 percent in the same timeframe.
Nagpal brings more than 15 years of experience in growth strategy and consumer businesses. He is a co-founder of wellness start-up Zingavita and has held positions at Zomato and American Express. At Honasa, he will be responsible for leading the development of new categories.
Acharya joins the team with over 12 years of expertise in digital-first consumer brands, particularly in beauty, lifestyle, and e-commerce sectors. His most recent role was Vice President of E-commerce at Lenskart, where he successfully scaled the Aqualens brand. His prior experiences include marketing positions at WOW Skin Science and Forest Essentials.
Varun Alagh, Co-founder and CEO of Honasa, stated that the company’s strategy involves recruiting leaders with strong consumer insights and entrepreneurial mindsets, empowering them to create category playbooks from the ground up.
Honasa, which has been publicly traded on Indian exchanges since November 2023, currently boasts a market capitalization of approximately ₹11,242 crore. The company’s digital-first business model resonates with the evolving behaviors of Indian consumers. The new hires signal that Honasa is actively preparing its next growth phase beyond its established brands.
Published on May 13, 2026.
