Honasa Consumers Chief Business Officer Master Zairus resigns; Here's why

Honasa Consumer Ltd, owner of popular FMCG brands such as Mamaearth and The Derma Co., announced on Jan. 2 that its Chief Business Officer, Master Zairus, will resign effective at the close of business on Feb. 28, 2025.

According to a regulatory filing, Zairus—designated as Senior Management Personnel—cited personal reasons for his departure. This development comes amid a period of restructuring at Honasa Consumer that has impacted the company’s finances and distribution strategies.

Master Zairus' role at Honasa Consumer

Zairus, who joined Honasa Consumer in August 2021, previously held leadership positions at Airtel, Nokia, and Shine.com, where he served as CEO.

Like Honasa Consumer’s founder and CEO Varun Alagh, he began his career at Hindustan Unilever. During his tenure at Honasa Consumer, Zairus played a crucial role in investment decisions across multiple categories and brands, including Mamaearth, The Derma Co., Aqualogica, BBlunt, Dr Sheth’s and Staze. The company also discontinued its ayurvedic beauty brand Ayuga in the first quarter of FY25.

Financial performance

Honasa Consumer reported a net loss of Rs 18.6 crore for the quarter ended Sept. 30, 2024, compared with a net loss of Rs 29.4 crore in the same quarter the previous fiscal year. Revenue from operations fell 6.9% year over year to Rs 461.8 crore, while the company’s EBITDA loss stood at Rs 30.7 crore in the second quarter, improving from Rs 40.1 crore during the same period last year.

Despite the dip in overall revenue, younger brands such as The Derma Co., Aqualogica, BBlunt, and Dr Sheth’s recorded over 30% growth year to date, while focus categories like face washes, sunscreens and face serums saw more than 28% growth in the first half of the fiscal year.

Zairus’s departure is the second major leadership change for the Gurgaon-based company in recent months, following the resignation of Chief Product and Technology Officer Jayant Chauhan in November 2024. Honasa Consumer did not respond to queries on the latest resignation but maintained that its portfolio of beauty and personal care products continues to expand.