Event Type: Q4 FY '26 Earnings Conference Call held post declaration of Audited Financial Results (Standalone & Consolidated)

Date and Time: The conference call was held on May 21, 2026. The specific time and time zone were not mentioned in the transcript.

Purpose of Event: Discussion of quarterly and full year financial results for the quarter and financial year ended March 31, 2026, including business performance, strategic updates, and outlook.

Timing Relative to Earnings: The call was held after the earnings announcement, as indicated by the phrase "post declaration of the Audited Financial Results."

Management Participants:

  • Mr. Mohan Goenka – Whole-Time Director and Vice Chairman
  • Mr. Vivek Dhir – Chief Executive Officer – International Business
  • Mr. Dhruv Aggarwal – Chief Growth Officer
  • Mr. Gul Raj Bhatia – President – Healthcare
  • Mr. Manish Gupta – President Sales
  • Mr. Rajesh Sharma – President – Finance and Investor Relation

Availability of Materials: The transcript of the conference call is available on the company's website at www.emamiltd.in. No mention was made of presentations, earnings decks, or recordings being available.

UPSI Statement: The document does not contain any explicit statement regarding unpublished price sensitive information (UPSI).

Financial Period Discussed: Q4 FY26 (quarter ended March 31, 2026) and full year FY26 (year ended March 31, 2026)

Financial Highlights from Discussion:

  • Q4 FY26 consolidated revenue: INR925 crores (decline of 4% YoY)
  • Q4 FY26 gross margins: 68.4% (improvement of 250 basis points YoY)
  • Q4 FY26 EBITDA: INR187 crores (decline of 15% YoY)
  • Q4 FY26 PAT: INR143 crores (decline of 12% YoY)
  • Full year FY26 revenue: INR3,780 crores (decline of 1% YoY)
  • Full year FY26 gross margins: 69.9% (improvement of 130 basis points YoY)
  • Full year FY26 EBITDA: INR964 crores (decline of 6% YoY)
  • Full year FY26 PAT: INR775 crores (decline of 4% YoY)

Business Performance Breakdown (Q4 FY26):

  • Domestic business ex-summer portfolio: +11% growth
  • Summer portfolio: -22% decline (Talcum powders: -40%)
  • Pain Management: +11% growth
  • Kesh King: +14% growth
  • Healthcare range: +7% growth
  • Strategic investments: +34% growth
  • 7 Oils in One: +34% growth
  • BoroPlus (other than talc): +4% growth
  • Male Grooming range: -4% decline
  • International business: -5% decline

Channel Performance:

  • Organized channels salience: ~32% of domestic business
  • Wholesale channel dependency reduced to 27% of total domestic sales
  • Quick Commerce: +70% growth
  • GT Marts: +25% growth

Strategic Updates:

  • New Chief Growth Officer (Dhruv Aggarwal) joined to lead growth agenda across investee companies
  • Focus on strategic investments with 30% YoY growth target
  • The Man Company showing healthy traction in perfumes and non-gas deodorants
  • Brillare expected to grow faster with target to increase absolute EBITDA by ~INR15 crores
  • Axiom acquisition (fruit juice category) described as profitable with INR40-45 crores EBITDA
  • IncNut acquisition (Vedix and SkinKraft brands) focused on personalized beauty with high gross margins

International Business Challenges:

  • Geopolitical disruptions in Middle East affecting shipping through Strait of Hormuz
  • Impacted supply chains, increased freight costs
  • Affected operations across GCC, Middle East, CIS and South Asian markets
  • Expected recovery: April showed ~2% growth, stabilization expected in May-June, double-digit growth expected from Q2 FY27

Forward-Looking Statements:

  • Confidence in delivering sustained growth in FY27 and beyond
  • Expectation of double-digit growth for summer brands in first half FY27
  • Focus on strengthening core brands, omnichannel capabilities, and innovation
  • Healthy margins and debt-free balance sheet position company for growth

Additional Notes Section

Attachments: The regulatory filing indicates an enclosure of the conference call transcript, but no other attachments were specifically mentioned.

Financial Data Disclosure: The announcement itself did not contain financial data, but the enclosed transcript contained extensive financial figures and business performance details as summarized above.

Logistical Details: The transcript included moderator information (Percy Panthaki from IIFL Capital Services Limited) and Q&A session with analysts from Nuvama Wealth Management, Svan Investments, IIFL Capital, and Investec.