, the Gurugram-based parent company of Mamaearth and other digital-first personal care brands, on Wednesday announced the appointment of Dheeraj Nagpal and Madhur Acharya to spearhead its next phase of category creation.
Both executives will focus on identifying and building new consumer brands, with Honasa signalling a clear strategic push beyond its existing portfolio. The appointments come as the company trades at a P/E of 72.73 on the NSE — a valuation that implies significant investor expectations around future growth. The stock closed at ₹347.10 on May 13, 2026, down 0.30 per cent for the day, but has returned 34.71 per cent over the past year, outpacing the Nifty 500’s 0.13 per cent over the same period.
Nagpal brings over 15 years of experience in growth, strategy, and consumer businesses. He previously co-founded wellness start-up Zingavita and has worked at Zomato and American Express. At Honasa, he will lead the building of new categories.
Acharya joins with over 12 years in digital-first consumer brands across beauty, lifestyle and e-commerce. He most recently served as Vice President – E-commerce at Lenskart, where he helped scale the Aqualens brand. Earlier stints include marketing roles at WOW Skin Science and Forest Essentials.
Varun Alagh, Co-founder and CEO of Honasa, said the company’s approach is to bring in leaders with consumer understanding and entrepreneurial instincts and give them the mandate to build category playbooks from scratch.
Honasa, listed on Indian exchanges since November 2023 with a current market capitalisation of approximately ₹11,242 crore, has built its business on a digital-first model targeting evolving Indian consumer behaviour. The two hires suggest the company is actively preparing its next growth engine beyond its established brands.