Financial Performance Highlights

Q1 FY27 Consolidated Financials:

  • Net Sales: ₹14,299 million, representing 66.7% year-on-year growth
  • International Business (including Comfort Click): 24.8% like-to-like growth
  • Domestic Business: 4.6% growth
  • EBITDA: ₹2,417 million, representing 55.3% growth
  • EBITDA Margin: Expanded by approximately 0.4% on a like-to-like basis
  • Net Profit: Declined by 7% during the quarter
  • Net Profit (excluding amortization of acquired brands): Grew by 26.5%

Domestic Business Segment Performance

Category-wise Growth:

  • Skin and Hair Care: 34.5% growth
  • Food & Nutrition: 16% growth
  • Seasonal Brands: 12% decline

Channel Performance:

  • Organized Channel Saliency: 38% of business (industry-leading)
  • Modern Trade: 17% contribution
  • Digital Commerce: 21% contribution

Brand Performance Details

Complan: Surpassed previous quarter's growth despite category degrowth. Expanded into ready-to-drink nutrition segment with Complan Power Play milkshake launch.

Everyuth: Delivered strong double-digit growth. Tan removal franchise outperformed expectations. Improved ranking in facial cleansing category from fifth to fourth position.

Glucon-D: Registered double-digit growth in West and South, moderate growth in North, but offset by weakness in East due to frequent showers, resulting in flattish quarter.

Nycil: Significantly impacted by unseasonal rainfall in North and East (key saliency markets), though delivered double-digit growth in West and South.

Nutralite: Delivered strong growth supported by portfolio strength, innovation, and AI-driven consumer engagement, with high double-digit 6-year CAGR.

RiteBite Max Protein: Continued strong growth trajectory, reinforcing leadership in protein snacking through innovation, expanded distribution, and execution excellence.

Sweetener Portfolio: Sugar Free maintained category leadership with double-digit growth. Sugar Free D'lite delivered high double-digit growth. I'm lite strengthened healthier living proposition with higher double-digit YoY growth.

Innovation and Product Launches

During the quarter, the company launched:

  • Complan Power Play milkshake (vanilla and chocolate flavors, no added sugar, no preservatives)
  • VieMax Diabetes Care (low glycemic index, high-protein, high-fiber formulation)
  • Comfort Click expanded portfolio through multiple product launches and range extensions

International Business (Comfort Click) Expansion

  • Launched WeightWorld D2C platform in the U.S.
  • Expanded into Walmart marketplace
  • Accelerated Middle East growth through launches on noon UAE
  • Established physical UAE base
  • Support team continues to be based in India

Tax and Finance Details

Tax Rate:

  • Current effective tax rate: 27% for Q1 FY27
  • Higher rate due to disallowance of some items because of thin cap rules in the U.K.
  • Normalized rate would be 25%
  • Cash component: 12-15% for FY2027
  • Expected 25% tax rate entirely in cash from next year

Interest Cost:

  • Reduced due to transition from GBP loan to euro loan at much reduced interest rate
  • Expected to hover around current levels subject to euro benchmark rate variability

Management Outlook and Strategy

Growth Strategy: Anchored in building future-ready premium portfolio through disciplined execution and technology-enabled decision-making. Leveraging technology and analytics across innovation, consumer engagement, brand investment, and execution.

Seasonal Portfolio Recovery: Management noted good recovery in growth rates for seasonal brands in the second half of the quarter and expects more positive performance for remaining part of financial year.

Comfort Click Business: Confirmed as EPS accretive since Q4 FY26, expected to maintain momentum with increased margins and profitability.

Advertising & Promotion Spend:

  • Overall A&P as percentage of total sales: 18.2% for the quarter (includes Comfort Click)
  • Like-for-like spend similar to last year on core business
  • Digital spend percentage increasing significantly as consumers shift to digital media

Q&A Session Highlights

International Business Growth: 25% YoY like-for-like growth achieved without stock availability or supply chain constraints. Management maintains double-digit growth expectation but doesn't provide specific forward guidance.

RiteBite Max Protein: Growing at more than double historical growth rate, driven by brand building, distribution expansion, and portfolio enhancement. Expanding into newer protein bars, Korean flavored chips, RTDs, and cookies.

Geographical Impact: Unseasonal rains particularly affected Eastern region and parts of North India in April and May, impacting weather-sensitive brands Nycil and Glucon-D.

Product Pipeline: Focus on scaling recent launches rather than numerous new launches. Long-term pipeline described as "fairly robust for next two to three years."

GLP-1 Impact: Comfort Click portfolio is digital-only, OTC business requiring no doctor prescriptions. Management doesn't foresee structural changes due to GLP-1 trends.

Inventory Management: Company inventory levels not higher than previous year, with shelf life of products being three years. Management doesn't expect channel disruption to carry over to next season.

Note: The transcript was digitally signed by Nandish Pradip Joshi, Company Secretary & Compliance Officer, on August 10, 2026, at 11:09:08 IST.