Event Overview

Pursuant to SEBI Listing Regulations, the company held a virtual connect with analysts and institutional investors on Thursday, June 18, 2026, from 2:30 p.m. to 3:48 p.m. (IST). A link to the recording and the full transcript of the meeting were made available on the company's website.

Management Presenters

  • Mr. Milind Thatte, Managing Director
  • Mr. Shashank Srowthy, Director (Executive) & Chief Financial Officer
  • Ms. Zeal Rupani, Company Secretary

FY26 Financial Performance

  • Sales: Reported sales of close to ₹1400 crore for the 12-month period ended March 31, 2026. This represents a 16% increase versus the comparable period last year.
  • Profit After Tax (PAT): ₹327 crores, which is up 30% versus the comparable period last year.

Integrated Growth Strategy

Management reiterated the company's five-pillar Integrated Growth Strategy driving results:

1. A portfolio of quality, trusted, and highly recommended consumer healthcare products.

2. Superiority across product, package, brand communication, and retail execution at the right value.

3. Productivity to enable superiority and deliver expected financial results.

4. Constructive disruption to stay ahead of industry trends.

5. An organization that is fully engaged and enabled to serve consumers and patients.

Key Innovations Launched in FY26

Three significant product innovations were launched, collectively contributing "early-single digit" points of growth to the overall business.

  • Livogen Iron Gummies: A strawberry-flavored gummy format for daily iron supplementation, positioned as gentle on the stomach and designed to help with tiredness and hair fall. The communication message was "2 Gummies are equivalent to 2-bowls of spinach". The product achieved the #1 market share in the Iron Gummies category on Amazon.
  • Neurobion Nerve Pain Relief Cream: A topical cream containing 0.075% Capsaicin, Menthol, Camphor, and Eucalyptus Oil, targeting nerve pain. The company's medically trained sales force educated nearly 1 lakh Healthcare Professionals (HCPs) on its benefits. The ad campaign reached about 14 million consumers with "high-single digits ad recall".
  • Evion L5000: A Vitamin E product designed for Non-Alcoholic Fatty Liver Disease, offering 3-in-1 liver benefits (Hepatoprotection, Lipid metabolism, and antioxidant action) with a "4X antioxidant power". It contributed an "incremental prescription share of early single digits".

Productivity and Cost Savings

The company's productivity efforts delivered savings of ₹35 crores during the fiscal year, contributing to margin expansion.

Distribution and Market Reach

  • Recent Go-to-Market (GTM) model changes have significantly improved market penetration.
  • As part of initiatives to expand into extra-urban areas, the company added nearly 30,000 pharmacies and HCPs to its overall coverage.
  • The e-commerce channel is noted as a "rapidly growing and material channel" with growth distributed across brands.

Long-Term Performance and Outlook

  • Over the past 5 years, the company has delivered consistent high single-digit average sales growth and an average profit growth of 13%.
  • Absolute sales and profit over this 5-year period are approximately 1.4X and 1.8X respectively.
  • Return on equity has increased by 42% over the last 5 years.
  • Management expressed confidence in continuing the growth momentum, citing strong brand fundamentals, a shift towards preventive healthcare, and the expanding VMS market in India. They refrained from providing specific forward-looking guidance.

Export Business

  • The exports business saw "encouraging growth" in FY26.
  • This growth was attributed to increased consumption, better availability, and demand generation, not just a low base effect.
  • Examples provided include 3X growth in Nepal and high single-digit growth in Sri Lanka, bolstered by launches like Neurobion Forte and Evion Forte.

Response to Analyst Questions (Select Highlights)

  • Product Pipeline: The innovation pipeline is consumer-first, focused on understanding unmet needs. Management declined to share specifics of future launches or revenue expectations.
  • Growth Composition (Price vs. Volume): FY26 growth was holistic. Volume growth was stated to be in the "mid-single digits". Pricing actions are congruent with NPPA regulations.
  • Margin Sustainability: The improvement in gross margin was driven by productivity, favorable product mix, and pricing. Productivity is an ongoing, embedded strategic choice that fuels reinvestment in the business.
  • Competition & GLP-1 Impact: The company is gaining market share. They view GLP-1 treatments as a complementary opportunity, with their VMS portfolio positioned to support the holistic health needs of consumers on such treatments.
  • Brand Performance: Neurobion and Livogen grew by ~20% in FY26. Seven Seas grew at early double digits, while Nasivion and Evion grew at high single digits.

Corporate Social Responsibility (CSR)

The flagship CSR initiative, P&G SEHAT, aimed at healthcare access and awareness, has impacted over 15 lakh lives since its inception in 2019 through Mobile Health Care Units and a Boat Clinic on the Brahmaputra river.