Research Study on Mamaearth - GRM Institute

Research Study on Mamaearth

A research study by Parag Dhawale, PGDRM July’21-22

Parag Dhawale, who recently finished the Global Risk Management Institute’s (GRMI) post-graduate diploma in risk management (PGDRM) course, Conducted a research study on “MamaEarth“. Before pursuing a career in risk management in India, Parag completed his B.Com from Mumbai University, He worked as Asst. Accountant at Saicom Systems before pursuing a risk management course and is currently placed in EY Business consulting Risk. According to Shubham PGDRM is one of India’s best job-oriented courses. 

Company name: Mamaearth™

Founders: Ghazal Alagh& Varun Alagh

Founded: 2016

Headquarters: Gurugram, India

Parent Organization: Honasa Consumer Pvt. Ltd.

Total Funding: $109.87 Million (December 2021)

Revenue: $61.90 Million (461 crores in FY21)



Mamaearth products for adults

Mamaearth products for kids




Himalaya: Himalaya Drug Company is an Indian multinational pharmaceutical company established by Mohammed Manal in 1930 and based in Bengaluru, Karnataka, India. It produces health care products under the name Himalaya Herbal Healthcare whose products include ayurvedic ingredients.

Johnson & Johnson: Johnson & Johnson (J&J) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods.

Nykaa: Nykaa is an Indian e-commerce company, founded by Falguni Nayar in 2012 and headquartered in Mumbai. It sells beauty, wellness, and fashion products across websites, mobile apps, and 84 offline stores. In 2020, it became the first Indian unicorn startup headed by a woman.

Kimberly Clark: Kimberly-Clark Corporation is an American multinational personal care corporation that produces mostly paper-based consumer products. The company manufactures sanitary paper products and surgical & medical instruments. Kimberly-Clark brand name products include Kleenex facial tissue, Kotex feminine hygiene products, Cottonelle, Scott and Andrex toilet paper, Wypall utility wipes, KimWipes scientific cleaning wipes, and Huggies disposable diapers and baby wipes.

Procter & Gamble: The Procter & Gamble Company (P&G) is an American multinational consumer goods corporation headquartered in Cincinnati, Ohio, founded in 1837 by William Procter and James Gamble. It specializes in a wide range of personal health/consumer health, and personal care and hygiene products.

Unilever: Unilever PLC is a British multinational consumer goods company headquartered in London, England. Unilever products include food, condiments, ice cream, wellbeing vitamins, minerals and supplements, tea, coffee, breakfast cereal, cleaning agents, water and air purifiers, pet food, toothpaste, beauty products, and personal care. Unilever is the largest producer of soap in the world. Unilever’s products are available in around 190 countries.



Cyber Security Risk

Since MamaEarth™ only formulates the formula, it is very important to secure such confidential data (like product formula) from hackers. Hence it is important for them to maintain a robust cybersecurity system. Also, since MamaEarth™ operates in such a dynamic industry, it is very important for them to maintain the relevant IT infrastructure to be ahead of its competitors.


Operation Risk

This might involve a main server outage caused by technical problems on releasing a promotional or offers with lots of bugs (usually due to coding errors).


Competition Risk

As the need for an organic and chemical-free product era is booming globally, there is an exponential increase in the competition that MamaEarth™ is facing. Example: It faces competition from several big players like Johnson and Johnson, Himalaya, Nykaa, etc.


Legal and Compliance Risk

MamaEarth™ provides its services through ‘HONASA CONSUMER PVT LTD’. Considering that the regulatory and legal requirements vary in each nation, there is always a risk of violating the ever-evolving norms.


Concentration Risk

As MamaEarth™ only formulates the product and gives the formula to its suppliers to manufacture the product there is a risk of soul dependency on their supplier.





  1. Mamaearth™ is one of the few plastic-positive brands in India.
  2. The company strives to conserve Mother Earth for future generations of babies. With an initiative called Let’s Recycle.
  3. Spreads awareness by making the customers a part of the program.
  4. Mamearth™ has acquired 2 companies to date, Mompresso and Mompresso MyMoney, both of which were acquired by them on December 24, 2021.





Get the full study here: MAMAEARTH BY PARAG DHAWALE



This report has been produced by students of Global Risk Management Institute for their own research, classroom discussions and general information purposes only. While care has been taken in gathering the data and preparing the report, the student’s or GRMI does not make any representations or warranties as to its accuracy or completeness and expressly excludes to the maximum extent permitted by law all those that might otherwise be implied. References to the information collected have been given where necessary.

GRMI or it’s students accepts no responsibility or liability for any loss or damage of any nature occasioned to any person as a result of acting or refraining from acting as a result of, or in reliance on, any statement, fact, figure or expression of opinion or belief contained in this report. This report does not constitute advice of any kind.


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