Financial Restatement Note

All financial information has been restated to reflect the Scheme of Arrangement between Bajaj Consumer Care Limited and Vishal Personal Care Limited (VPCL), approved by the Hon'ble NCLT on 9 April 2026 and effective from 1 May 2026, with an appointed date of 15 March 2025.

Q2 FY27 Consolidated Financial Performance

  • Net Sales Value: ₹332.7 crore, up 27.3% from ₹261.4 crore in Q2 FY26
  • Other Operating Income: ₹0.1 crore (down from ₹3.9 crore in Q2 FY26)
  • Total Operating Income: ₹332.8 crore, up 25.4% from ₹265.3 crore in Q2 FY26
  • Cost of Goods Sold: ₹133.5 crore, up 26.8% from ₹105.3 crore in Q2 FY26
  • Contribution: ₹199.2 crore, up 27.6% from ₹156.1 crore in Q2 FY26
  • Contribution Margin: 59.9% of sales (vs. 59.7% in Q2 FY26)
  • Employees Cost: ₹34.3 crore, up 0.3% from ₹34.2 crore in Q2 FY26
  • Advertisement & Sales Promotion: ₹41.7 crore, up 7.2% from ₹38.9 crore in Q2 FY26
  • Other Expenses: ₹40.0 crore, up 4.8% from ₹38.2 crore in Q2 FY26
  • EBITDA: ₹83.3 crore, up 71.0% from ₹48.7 crore in Q2 FY26
  • EBITDA Margin: 25.0% of sales (vs. 18.6% in Q2 FY26)
  • Other Income: ₹8.6 crore (vs. ₹7.9 crore in Q2 FY26)
  • Finance Cost: ₹0.3 crore (vs. ₹0.4 crore in Q2 FY26)
  • Depreciation and Amortisation: ₹3.8 crore (vs. ₹3.9 crore in Q2 FY26)
  • Corporate Social Responsibility: ₹1.0 crore (vs. ₹0.9 crore in Q2 FY26)
  • Profit Before Tax (PBT): ₹86.8 crore, up 68.9% from ₹51.4 crore in Q2 FY26
  • Tax Expenses: ₹16.6 crore (vs. ₹9.1 crore in Q2 FY26)
  • Profit After Tax (PAT): ₹70.2 crore, up 66.0% from ₹42.3 crore in Q2 FY26
  • PAT Margin: 21.1% of sales (vs. 16.2% in Q2 FY26)

H1 FY27 Consolidated Financial Performance

  • Net Sales Value: ₹674.1 crore, up 27.8% from ₹527.6 crore in H1 FY26
  • Other Operating Income: ₹0.2 crore (down from ₹11.0 crore in H1 FY26)
  • Total Operating Income: ₹674.3 crore, up 25.2% from ₹538.6 crore in H1 FY26
  • Cost of Goods Sold: ₹264.0 crore, up 19.7% from ₹220.5 crore in H1 FY26
  • Contribution: ₹410.1 crore, up 33.5% from ₹307.1 crore in H1 FY26
  • Contribution Margin: 60.8% of sales (vs. 58.2% in H1 FY26)
  • Employees Cost: ₹70.0 crore, down 1.1% from ₹70.8 crore in H1 FY26
  • Advertisement & Sales Promotion: ₹91.7 crore, up 17.9% from ₹77.8 crore in H1 FY26
  • Other Expenses: ₹81.0 crore, up 2.7% from ₹78.9 crore in H1 FY26
  • EBITDA: ₹167.6 crore, up 85.0% from ₹90.6 crore in H1 FY26
  • EBITDA Margin: 24.9% of sales (vs. 17.2% in H1 FY26)
  • Other Income: ₹16.6 crore (vs. ₹15.8 crore in H1 FY26)
  • Finance Cost: ₹0.7 crore (vs. ₹0.8 crore in H1 FY26)
  • Depreciation and Amortisation: ₹7.6 crore (vs. ₹6.3 crore in H1 FY26)
  • Corporate Social Responsibility: ₹1.9 crore (vs. ₹1.7 crore in H1 FY26)
  • Profit Before Tax (PBT): ₹174.0 crore, up 78.3% from ₹97.6 crore in H1 FY26
  • Tax Expenses: ₹33.1 crore (vs. ₹17.0 crore in H1 FY26)
  • Profit After Tax (PAT): ₹140.9 crore, up 74.8% from ₹80.6 crore in H1 FY26
  • PAT Margin: 20.9% of sales (vs. 15.3% in H1 FY26)

Business Performance Highlights

Domestic Business

  • Delivered 30%+ revenue growth in both Q2 FY27 and H1 FY27
  • Achieved robust double-digit unit volume growth
  • Price Point Packs outperformed and remained a key growth engine
  • New integrated campaign with revised positioning introduced towards quarter-end

Growth Portfolio

  • Sustained strong momentum with meaningful scaling and improved profitability
  • Coconut portfolio served as the key growth engine with healthy consumer and trade traction
  • Volume growth significantly ahead of revenue growth due to deflation in Coconut prices
  • Portfolio tweaks including brand revamps and new product pilots in select markets/channels

Channel Performance

  • General Trade (GT): Mid-twenties YoY growth in Q2; high twenties growth in H1
  • Rural growth edged ahead of Urban this quarter, both delivering robust growth
  • Organized Trade (OT): High twenties growth in Q2, building on Q1 momentum
  • E-Commerce and Modern Trade: Continued strong performance with broad-based growth
  • Q-Com remained the fastest growing channel in this space

International Business Performance

  • International Business (IB) sustained exceptional growth momentum, significantly ahead of company average
  • Rest of World (RoW) sustained its turnaround
  • Nepal and GCC & Africa delivered very strong growth
  • Bangladesh maintained teen growth despite tough operating environment
  • Specific market performances:
  • GCC & Africa: Q2 growth -6% (from 6.3 to 6.9), H1 growth 2%
  • Nepal: Q2 growth 56% (from 1.9 to 3.0), H1 growth 11%
  • Bangladesh: Q2 growth -11% (from 3.9 to 3.5), H1 growth 23%
  • RoW: Q2 growth 32% (from 1.5 to 2.3), H1 growth 100%
  • Total International: Q2 growth -3% (from 13.3 to 16.9), H1 growth 23%

Project Aarohan Distribution Initiative

  • 8-quarter journey covering multiple phases and states:
  • Phase 1 H2 FY25: Uttar Pradesh, Madhya Pradesh
  • Phase 2 H1 FY26: Delhi, Haryana, Rajasthan, Chhattisgarh, Maharashtra, West Bengal
  • Phase 3 H1 FY27: Bihar, Jharkhand, Odisha, Punjab, Gujarat
  • Total impact: 1 Lakh+ outlets added, 1,100+ Distribution Partners appointed, 670 vans closed
  • Evolving from a one-time project to an annual growth engine (Aarohan 2.0)

Key Commodity Trends

  • Refined Mustard Oil (RMO): Prices elevated due to Middle East conflict disrupting oilseed supply chains
  • Light Liquid Paraffin (LLP): Prices remain elevated due to ongoing West Asia conflict and higher global freight costs
  • Copra: Prices rose in Q2 in anticipation of El Niño impact in Q3; broader rise in edible oil basket pushed rates higher
  • Purchase Price Index data provided (Q1 FY25 = 100):
  • RMO Index: Q1 FY25 (100), Q2 FY25 (103), Q3 FY25 (121), Q4 FY25 (124), Q1 FY26 (162), Q2 FY26 (247), Q3 FY26 (218), Q4 FY26 (191), Q1 FY27 (149), Q2 FY27 (171)
  • Copra Index: Data points shown but specific values not provided in text

Corporate Recognition

  • 8th consecutive year as a GPTW Certified workplace (2026)
  • 2nd consecutive year among India's Best Workplaces in FMCG (2026)
  • Achieved Trust Index score of 89 in FY26, the highest to date
  • Ranked #63 among India's Top 100 Mid-size Workplaces

Investor Relations Contact

Mr. Aakash Gupta (Head - Finance)