Accounting Policy Change

The Group reclassified certain customer-related advertisement and promotional expenses during the quarter ended June 30, 2026. These amounts, previously included within Advertisement and Sales Promotion expenses, are now netted off from Revenue from Operations. The change has been applied retrospectively through reclassification of comparative figures for Q4 FY26, Q1 FY26, and full year FY26. This reclassification had no impact on EBITDA, Net profit, Total equity, Cash flows or EPS.

Financial Performance Highlights (Consolidated)

Q1 FY27 Key Metrics:

  • Revenue from Operations: ₹3,957 crore (vs ₹3,221 crore in Q1 FY26, +23% YoY)
  • EBITDA: ₹819 crore (vs ₹655 crore in Q1 FY26, +25% YoY)
  • EBITDA Margin: 20.7% (vs 20.3% in Q1 FY26, +40 bps)
  • Profit After Tax (recurring): ₹630 crore (vs ₹504 crore in Q1 FY26, +25% YoY)
  • Domestic Volume Growth: 11% YoY
  • International Business Constant Currency Growth: 15% YoY

Expense Breakdown (Q1 FY27):

  • Material Cost: ₹2,112 crore (53.4% of revenue, +22% YoY)
  • Advertisement & Sales Promotion: ₹327 crore (8.3% of revenue, +25% YoY)
  • Employee Cost: ₹269 crore (6.8% of revenue, +22% YoY)
  • Other Expenses: ₹430 crore (10.9% of revenue, +21% YoY)

2-Year CAGR Performance:

  • Volume: 10%
  • Revenue: 23%
  • PAT: 17%

Business Segment Performance

India Business:

  • Revenue: ₹3,003 crore (+21% YoY)
  • Volume Growth: 11% YoY (highest in 20 quarters)
  • Over 96% of business gained or sustained market share
  • Over 99% of business gained or sustained penetration on MAT basis
  • Traditional and Organized Trade: Double-digit growth
  • E-commerce: Accelerated growth led by >50% growth in Quick commerce

Product Category Performance:

  • Parachute Rigids (Coconut Oil): 10% volume growth, 23% revenue growth, gained 400 bps market share to reach 59% volume market share
  • Value-Added Hair Oils: 22% value growth, increased value market share by 80 bps on MAT basis
  • Saffola Edible Oils: 7% revenue growth with high-single digit volume decline
  • Foods Portfolio: 43% growth, crossed ₹1,300+ crore annualized revenue run-rate
  • Saffola Foods: Double-digit growth led by Soya Chunks, Oats and Muesli
  • Saffola Oats: Gained market share, strengthened leadership position
  • True Elements: Scaled up in line with aspirations
  • 4700BC and Cosmix: Delivered healthy sequential growth
  • Cosmix: Launched fermented yeast protein across multiple flavours
  • Premium Personal Care: Strong growth, ~₹450 crore ARR including Premium Hair Nourishment, Hair Cleansing, Male Grooming and Skin Care
  • Parachute Advansed Protein Shampoo: Encouraging start with healthy consumer offtakes
  • Launched Parachute Advansed Protein Hair Conditioner
  • Digital-first Portfolio: Continued strong growth supported by Beardo and Plix

International Business:

  • Constant Currency Growth: 15% YoY
  • 2-year CAGR: 17%
  • Bangladesh: 4% CCG, transient moderation due to pricing anniversarization and consumer demand softness
  • Vietnam: 27% CCG with robust growth in male and female grooming portfolio
  • MENA: 24% CCG with resilient performance in Gulf and Egypt
  • South Africa: 8% CCG led by Hair Care
  • NCD and Exports: 16% growth

Working Capital Metrics

  • Debtors Turnover (Days): 31 days (vs 39 days in Q4 FY26)
  • Inventory Turnover (Days): 40 days (vs 43 days in Q4 FY26)
  • Net Working Capital (Days): 26 days (vs 34 days in Q4 FY26)
  • Company maintained healthy working capital ratios through the quarter

Raw Material Price Trends

  • Copra prices corrected meaningfully from peak levels, expected to remain range-bound with slight upward bias
  • Crude corrected moderately from Q1 peak but remains volatile due to Middle East developments
  • Vegetable oils inflated further and remain at elevated levels

Market Share Position (MAT Basis)

  • Parachute Rigids within Coconut Oil: 59% volume market share (Rank 1)
  • Saffola Oats: 42% value market share (Rank 1)
  • Value Added Hair Oils: 29% value market share (Rank 1)
  • Post wash Leave-on Serums: 44% value market share (Rank 1)
  • Hair Gels/Waxes/Creams: 51% value market share (Rank 1)

ESG Performance Snapshot (Q1 FY27)

  • Climate Action: 87% reduction (Scope 1+2) in GHG emissions intensity from FY13 baseline
  • Renewable Energy: 76.66% of total energy consumption from renewable sources
  • Water Stewardship: 29% reduction in water withdrawal intensity compared to FY25; ~570 crore liters cumulative water conservation potential created
  • Circular Economy: 95% recyclable packaging material share; 27,191 MT postconsumer plastic waste managed through EPR guidelines as of FY26
  • Sustainable Agriculture: 2.06 lakh farmers enrolled cumulatively with 15.6% differential productivity improvement; 4.83 lakh acres farmland enrolled
  • Social Value Creation: 2.12 lakh students and 63,498 teachers covered through Nihar Shanti Pathshala Funwala program; 130 Anganwadi centres engaged during FY26

Recent Recognitions

  • Pondicherry facility achieved Water Positive certification by CII
  • Joined as Founding Member of CII's Climate Adaptation Coalition
  • Legal Team recognized as "Legal Team of the Year – FMCG" at 15th Annual Legal Era Awards 2026
  • Guwahati Plant won Excellence Certificate in Customers Category at IMC RBNQA
  • Pondicherry Plant won Achiever Certificate in Leadership Category at IMC RBNQA

Outlook and Guidance

FY27 Expectations:

  • Double-digit revenue growth to cross ₹15,000 crore revenue mark
  • High-teen EBITDA growth
  • High single-digit volume growth in India business
  • Mid-teens constant currency growth in International business

Vision 2030 Strategic Priorities:

  • Strengthen core franchises, expand into adjacencies, scale digital businesses profitably, diversify international growth engine
  • Reduce share of commodity-linked businesses, shift portfolio towards more profitable categories
  • Maintain top quartile volume growth trajectory in India and teens constant currency growth in International business
  • Aspire to deliver double-digit revenue growth to achieve ₹20,000 crore revenue with mid-teens EBITDA CAGR

Portfolio Transformation Targets:

  • Increase Foods and Premium Personal Care share of India revenue to ~27% by end FY27 and ~33% by FY30
  • Digital-first businesses to achieve double-digit EBITDA margin by FY27 and expand to teens medium-term
  • International premium categories revenue share to expand from ~30% in FY26 to ~40% by FY30
  • Non-Bangladesh portfolio share in International business to increase from ~55% in FY26 to ~65% by FY30

Management Commentary

Saugata Gupta, MD & CEO, commented: "Our Q1 performance is a reaffirmation of our strategic clarity, execution quality and growth model - resilient core brands, accelerating premium and digital play, and a diversified international growth engine. With 23% revenue growth driven by double digit volume growth in India and 25% profit growth - our highest in the last 28 quarters, we have a great start to the year."

Investor Relations Contacts

  • Saurabh Khaitan: Head Finance - International Business and Investor Relations
  • Gaurav Dokania: Manager - Investor Relations