Mamaearth: Rs 57 Crore Dubai Case - Honasa's Varun Alagh Shares Update

Amid ongoing fall in share price of Honasa Consumer Limited, parent company of Mamaearth, management has shared an update on ongoing case in Dubai court, where a UAE court order directed company to pay a compensation of Rs 56.6 Crore to a former distributor. In response to a question on matter, Varun Alagh, co-founder, chairman and DEO of Honasa Consumer Limited (Mamaearth) said that management of Honasa Consumer Limited is hopeful that final decision would be in Mamaearth's favour. 

Alagh was speaking during earnings call of company following Q2 FY 2025 results of Mamaearth. transcript of call was released on bourses on Wednesday.

Mamaearth Dubai case: Lawyers confident of construct of our case - Varun Alagh of Honasa

" case is ongoing. We have a favourable judgment in Indian High Court, but in first appeal in Dubai, judgment has not been as favourable. That said, our lawyers are very confident about construct of our case. It's a simple parting with a distribution partner with due notices that have been done," Alagh said.

He furr ded that quantum of business was not as large as damage claim h been ascertained to be. "Our documentation is also strong re. So, at least from our lawyers, we still continue to get strong confidence that final decision should be in our favour. We have filed for an appeal in high court in Dubai, while high court appeal, which was alrey in our favour. And we continue to sort of discuss that as well," Alagh said.

Mamaearth share price today

update comes at a time when Mamaearth shares have been on a downfall reportedly due to issues pertaining to distribution. From its all-time high of Rs 546.50 on September 10, stock is currently tring at Rs 263.75 almost a 50% trim. On Monday, Mamaearth shares hit a 20 per cent upper circuit. After opening a gap-down, stock continued to plummet furr. 

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