Well, quite a lot of natural ingredients apart from preservatives.
My experience with Himalaya hasn't been very great except for its scrub and fruit face pack so I am quite skeptical about its products. But the baby lotion was nice to use. It has thin consistency and spreads easily. It is a nice lotion for summer usage. Its moisturizing capability is very less (around 3-4 hours) so people with dry skin will probably not be very happy with it. I had to reapply the lotion after sometime. It smells nice and probably would be good for babies coz they do not need as much moisturizing as we do. So, I guess that it does its job. It does make the skin feel supple after it is applied. It will suit oily skin people well instead. It does feel cool when applied which is great in summers.
It can be given a try by people with oily and normal skin. Dry skin people wouldn't be too happy but if you are looking for a light lotion, this is one among others. And, it is a budget buy too coz Himalaya products aren't that costly.