Shares of Honasa Consumer Ltd., the parent company of beauty and skincare brand MamaEarth, are in focus on Friday, December 12, after the company acquired Reginald Men owner BTM Ventures at an enterprise value of ₹195 crore.

Honasa will buy 95% of the stake upfront in cash and the remaining 5% over the next 12 months.

Reginald Men reported about ₹40,000 revenue in FY24, ₹20.1 crore in FY25 so far, and ₹74 crore on a trailing twelve-month basis.

The brand operates with gross margins of 72% and Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) margins of 24%, with nearly 80% of its sales coming from South India.

The deal implies an EV to revenue multiple of 2.6x and an EV to EBITDA multiple of 10.9x.

The men's personal care segment, currently a ₹20,000 crore market,

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