India · Delayed Price · Currency is INR Emami Earnings Call Transcripts
Fiscal Year 2026
-
Q3 FY26 saw 11% sales growth and 15% PAT growth, with strong performance across major brands and digital channels. Gross margin and EBITDA margin improved, and rural demand showed double-digit growth. GST cuts and supply chain initiatives are expected to drive further gains.
-
Q2 FY26 saw a 10% revenue decline due to GST-driven trade disruptions and weak summer sales, but non-GST portfolios and international business grew. Management expects a strong H2 rebound, with winter loading recovered and GST benefits supporting future growth.
-
Revenue was flat due to weak summer demand, but core domestic business grew 6% excluding talc. Gross margin rose to 69.4%, with PAT up 9% and pain management, BoroPlus, and digital channels driving growth. Margin outlook remains positive.
Fiscal Year 2025
-
Q4 FY25 saw 8% revenue growth and margin expansion, with strong domestic and international rebounds. Strategic investments in male grooming, D2C, and healthcare, plus new leadership and product launches, position the business for robust FY26 growth.
-
Core domestic business grew 8.6% in Q3 FY25, with strong gains in BoroPlus and healthcare segments, while gross margin expanded to 70.3%. Despite challenges in male grooming and international markets, profit and EBITDA rose 8%, and the company reaffirmed its robust dividend payout.
-
Q2 FY25 saw 3% revenue growth and 7% EBITDA growth, with margin expansion despite inflation and geopolitical headwinds. Key brands like Navratna and Dermicool grew double digits, while Kesh King and male grooming declined. Management remains optimistic for H2, targeting high single-digit revenue and double-digit EBITDA growth.
-
Q1 FY25 saw 10% revenue growth, strong summer portfolio performance, and improved margins, with rural demand recovering and digital channels expanding. Strategic initiatives are underway for underperforming segments, and cautious optimism is maintained for the year ahead.