Honasa Consumer Acquires Majority Stake In Fluence Pharma For ₹135 Cr

Honasa Consumer's board approved a ₹135 Cr secondary acquisition of a 58% stake in Fluence Pharma, a nutraceuticals company that sells skin and hair health supplements through a network of over 3,000 dermatologists and trichologists. The transaction is expected to close within eight weeks. Honasa plans to acquire the remaining 42% stake via secondary transactions in two tranches over the next 5–7 years.

Founded in 2012 by Amit Bhusari and Dr. Rajendra Singh Rajput, Fluence Pharma manufactures condition-specific OTC supplement kits built on its patented Cyclical Nutrition Therapy (CNT), sold exclusively through dermatologists. The company posted FY25 turnover of ₹37.2 Cr, up 3% year-over-year.

Alongside the acquisition, Honasa's board approved the creation of a new wholly-owned subsidiary, Honasa Health, to manage its nutraceuticals vertical end-to-end. The subsidiary will aim to combine Fluence Pharma's CNT platform and dermatologist network with Honasa's consumer brand, distribution, and marketing capabilities.

CEO Varun Alagh framed the move as part of the company's "Honasa 3.0" five-year strategy, which targets revenue of over ₹5,500 Cr by FY31 and EBITDA margins above 15%. The company estimates India's nutraceuticals market at around ₹16,000 Cr and has identified nutraceuticals, fragrances, and oral care as key growth categories beyond its existing skincare and haircare portfolio.

Honasa reported FY26 net profit of ₹200.2 Cr, up 175.4% year-over-year, on operating revenue of ₹2,391.9 Cr, up 15.7%. The Fluence Pharma deal follows prior acquisitions including Dr. Sheth's, BBlunt, Reginald Men, and oral care startup Fang as Honasa expands its house-of-brands model.