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Emami Results: Latest Quarterly Results & Analysis

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Emami Ltd. 21 May 2026 14:36 PM
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Q4FY26 & FY26 Result Announced for Emami Ltd.

Personal Products company Emami announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Revenue from Operations for Q4FY26 stood at Rs 925.1 crore, representing a decline of 3.9% YoY compared to Rs 963.0 crore in Q4FY25.
  • EBIDTA for Q4FY26 was Rs 186.7 crore, a decline of 14.9% YoY from Rs 219.4 crore in Q4FY25.
  • Profit After Tax for Q4FY26 reached Rs 143.2 crore, reflecting a decrease of 11.7% YoY compared to Rs 162.2 crore in Q4FY25.
  • Other Income for Q4FY26 grew by 9.5% YoY to Rs 23.2 crore.
  • For the full year FY26, Revenue from Operations was Rs 3,779.5 crore, a marginal decline of 0.8% YoY from Rs 3,809.2 crore in FY25.
  • EBIDTA for FY26 stood at Rs 963.6 crore, a decrease of 6.0% YoY compared to Rs 1,025.1 crore in FY25.
  • Profit After Tax for FY26 was Rs 775.3 crore, down 3.4% YoY from Rs 802.7 crore in FY25.
  • Other Income for the full year FY26 grew by 25% YoY to Rs 85.1 crore.
  • Gross Margins for Q4FY26 expanded by 250 basis points to 68.4%. For the full year FY26, Gross Margins expanded by 130 basis points to 69.9%.
  • The Board of Directors declared interim dividends aggregating to Rs 10 per share for FY26, amounting to a total payout of Rs 436.5 crore.
  • The company's balance sheet remains debt-free with Net Cash of Rs 883 crore as on 31st March, 2026.

Business Highlights:

  • Domestic Business:
    • The non-summer domestic portfolio delivered a healthy growth of 11% in Q4FY26, with a volume growth of 7%.
    • Total Domestic Net Sales declined by 3% in Q4FY26 (volume growth: -7%) and 1% for the full year FY26, primarily due to unfavorable seasonal conditions affecting the summer portfolio.
    • The Summer Portfolio saw a decline of 22% in Q4FY26 and 16% in FY26.
    • Organised and New Age channels (Modern Trade, E-commerce, Quick Commerce) contributed approximately 32% to the domestic business in FY26, up from 24% in FY23.
    • D2C brands (Zanducare, The Man Company, and Brillare) now contribute approximately 9% to the domestic business.
  • International Business:
    • International Business revenues declined by 5% in Q4FY26, impacted by geopolitical disruptions in the West Asia region.
    • For the full year FY26, the international business grew by 3%.
    • The international business contributed 19% to overall sales in Q4FY26 and 18% for the full year FY26.
  • Brand-wise Performance (Domestic):
    • Q4FY26 Growth: 7 Oils in One ( 34%), The Man Company & Brillare ( 34%), Kesh King Range ( 14%), Pain Management Range ( 11%), Healthcare Range ( 7%), BoroPlus Range (-8%), Navratna & Dermicool Range (-21%), and Male Grooming Range (-4%).
    • FY26 Growth: The Man Company & Brillare ( 20%), 7 Oils in One ( 13%), Pain Management Range ( 7%), Healthcare Range ( 5%), BoroPlus Range ( 2%), Kesh King Range (-2%), Male Grooming Range (-5%), and Navratna & Dermicool Range (-15%).
  • Strategic Investments:
    • The company increased its stake in Axiom Ayurveda (AloFrut), making it a subsidiary with effect from 1 April 2026, marking an entry into the healthy beverage segment.
    • The company is acquiring a majority stake in IncNut, strengthening its presence in the personalized beauty and personal care (BPC) segment through brands like Vedix and SkinKraft.

Harsha V Agarwal, Vice Chairman and Managing Director, Emami said: “Q4FY26 was impacted by temporary external headwinds, including unfavourable seasonal conditions affecting the summer portfolio and geopolitical disruptions in West Asia, which weighed on overall business performance during the quarter. Despite these challenges, the resilience of our core domestic business remained evident, with the non-summer portfolio delivering healthy 11% growth. Our international business also maintained strong momentum through most of the quarter before geopolitical developments in West Asia impacted operations in March.

While these factors affected near-term performance, we believe they represent a passing phase rather than a structural concern, and we expect business momentum to improve from next quarter itself.

We remain firmly focused on long-term growth through continued investments behind its core brands and strategic expansion into high-growth new-age FMCG segments. In the current financial year, we are strengthening our future growth portfolio through investments in Axiom Ayurveda and IncNut Digital, aligned with evolving consumer preferences and emerging market opportunities.”

Mohan Goenka, Vice Chairman and Whole-Time Director, Emami said: “The quarter tested the resilience of our operating model, and the business responded with disciplined execution. Despite a muted demand environment, we delivered a gross margin expansion of 250 basis points through strong cost management and operational efficiencies, while increasing investments behind our brands by 12% to support future growth.

We are encouraged by the early trends in Q1FY27, particularly across the summer portfolio, supported by expanded distribution, focused media investments and stronger trade activation. We remain confident in the strength of our brands and our ability to deliver sustained profitable growth.”

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Personal Products company Emami announced Q3FY26 results

  • Consolidated Net Sales at Rs 1,147 crore grew by 11%.
  • Revenue from Operations at Rs 1,152 crore grew by 10%.
    • Domestic Business grew by 11% with 9% volume growth.
    • International Business grew by 9%.
  • Gross Margins at 70.6% improved by 30 bps.
  • EBIDTA at Rs 384 crore grew by 13%; EBIDTA Margins at 33.4% expanded by 110 bps.
  • PBT before Exceptional Items at Rs 355 crore grew by 18%.
  • Profit after Tax at Rs 319 crore grew by 15%.
  • Interim Dividend: The Board of Directors declared a second interim dividend of 600%, amounting to Rs 6 per share for FY26.

Harsha V Agarwal, Vice Chairman & Managing Director, Emami, said: “Q3FY26 delivered strong, broad-based performance, with sales growth of 11% driven by healthy volume expansion of 9%. Our strategic priorities around purposeful innovation, premiumization, and portfolio expansion continue to translate into tangible outcomes. EBITDA grew by 13%, with margins expanding 110 basis points to 33.4%, reflecting operational excellence and disciplined cost management. We remain focused on strengthening our core brands while selectively investing in new-age growth opportunities to build future scale.”

Mohan Goenka, Vice Chairman & Whole-Time Director, Emami, said: “Despite short-term disruptions related to the GST 2.0 transition early in the quarter, our business delivered robust sales growth, reflecting the resilience of our brands and operating model. Growth was broad-based across all distribution channels, with quick commerce continuing to scale rapidly, doubling sales and now contributing 20% of our e-commerce business. The expansion of organized channels has strengthened our domestic revenue mix, with organized trade accounting for nearly 32% of domestic sales, up 280 bps in 9MFY26. Our international business grew 9% despite mixed global conditions. We remain focused on disciplined execution, capital efficiency, and delivering sustainable, profitable growth for our shareholders and stakeholders.”

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Personal Products company Emami announced Q2FY26 results

  • Consolidated revenues for the quarter stood at Rs 799 crore, declining by 10% on a YoY basis. Excluding GST-impacted categories, non-impacted portfolio cohorts delivered encouraging results growing by 10% during the quarter.
  • Gross Margins remained stable at 71.0 %, underscoring the Company's cost discipline and input price stability.
  • EBITDA for the quarter stood at Rs 179 crore, declining by 29%, while PAT stood at Rs 148 crore, declining 30%; both reflecting the temporary impact of lower topline.
  • The Board of Directors also declared an interim dividend of 400%, amounting to Rs 4 per share for FY26.

Harsha V Agarwal, Vice Chairman and Managing Director, Emami said: “We are happy that over 90% of our core domestic portfolio now falls under the lowest GST rate of 5%, making our products more affordable and accessible to consumers. The quarter’s performance was a temporary impact of trade disruptions linked to the pending GST revision and weak summer. With improving market sentiment and a favourable season ahead, we remain confident of strong growth in the coming quarters. Our bottom line remains stable, with costs well managed despite global supply chain challenges due to geo-political issues. To meet our growth aspirations, going forward, we will continue to strengthen our portfolio through premiumisation and value-added innovation to stay aligned with the evolving preferences of our consumers”

Mohan Goenka, Vice Chairman and Whole-Time Director, Emami said: “October marked a clear turning point, with trade sentiment rebounding and deferred winter loading recovering, putting us on a solid footing for the second half of the year. I am also pleased to share that our non-GST impacted portfolio delivered 10% growth in Q2 signifying that consumer demand remained intact. These gains, coupled with normalisation of trade post GST reforms, and the positive of impact of strategic interventions position us to sustain profitable growth in the second half and strengthen our foundation for long-term value creation and market leadership”

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Personal Products company Emami announced Q1FY26 results

  • Revenues: Rs 904 crore for Q1FY26.
  • Gross Margins expanded by 170 basis points to 69.4%.
  • EBITDA stood at Rs 214 crore.
  • Profit After Tax grew 9% YoY to Rs 164 crore.

Harsha V Agarwal, Vice Chairman & Managing Director, Emami, said: “Our performance this quarter reflects the underlying strength and resilience of our brands, even in the face of an unusually subdued summer. Our Talc/PHP category maintained a 2-year CAGR of 13%. Our flagship brands are being future-proofed; Kesh King is undergoing a strategic transformation to enhance long-term relevance, while Smart & Handsome is expanding into adjacent male grooming categories. The Man Company’s return to growth in June 2025 is especially encouraging, and we are confident of sustaining this trajectory through sharper positioning and a comprehensive brand revamp. Looking ahead, we are optimistic about growth in the coming months, driven by strong monsoon conditions, easing inflation, and potential interest rate reductions. These factors are expected to support a recovery in consumption and strengthen overall economic momentum "

Mohan Goenka, Vice Chairman & Whole-Time Director, Emami, said: " We are pleased with the strong momentum in our organised channels—Quick commerce, in particular, scaled nearly 3x YoY, affirming the success of our omnichannel approach. Despite a flattish topline, we delivered a 9% growth in Profit After Tax, underscoring our sharp focus on profitability and operational efficiency. We remain confident in our margin trajectory, supported by favourable input costs and operational efficiencies. With an innovation-led portfolio, and a strong digital-first brand strategy, we are well-positioned to accelerate growth. As macro conditions begin to improve with a strong monsoon and easing inflation, we are confident that consumer demand will gradually strengthen. Our strategic levers are in place, and we remain committed to driving sustained, profitable growth in the quarters ahead.”

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Personal Products company Emami announced Q3FY25 results

  • Revenue from Operations at Rs 1,049 crore grew by 5%.
    • Core Domestic Business grew by 9% with 6% volume growth.
  • Gross Margins at 70.3% improved by 150 bps.
  • EBIDTA at Rs 339 crore grew by 8%.
    • EBIDTA margins improved by 70 basis points to 32.3%.
  • Profit after Tax at Rs 279 crore grew by 8%.

Harsha V Agarwal, Vice Chairman and Managing Director, Emami, said: "I am pleased to announce a healthy 9% growth in our core domestic business, driven by a healthy 6% increase in volume in Q3FY25. This marks the second quarter with high single-digit growth, coupled with expansion in both Gross margins and EBIDTA margins despite rising input costs across the sector. Our targeted distribution strategies for new-age channels have played a vital role in driving success across the business. Strategic initiatives for Kesh King and male grooming along with the expected revival of International Business, position us confidently for sustained, robust growth going ahead. These results reaffirm our confidence in the positive outlook for FY25 and our steadfast commitment to delivering long-term value to our stakeholders."

Mohan Goenka, Vice Chairman and Whole-Time Director, Emami, said: "FY25 is shaping up to be a promising year as we continue to deliver profit-driven growth, achieving improved margins across the board and outperforming industry benchmarks. EBITDA increased by 8% during the quarter, with margins expanding by 70 basis points underscoring our strong focus on operational excellence. The strategic rebranding of Fair and Handsome to Smart and Handsome, inspired by deep consumer insights coupled with strategic initiatives for skin care and haircare brands offers significant growth potential.”

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Personal Products company Emami announced Q2FY25 results

  • Revenue from Operations at Rs 891 crore grew by 3%.
    • Domestic Business grew by 2.6%.
    • International Business grew by 6%; 12% growth excl. Bangladesh.
  • Gross Margins at 70.7% improved by 60 bps.
    • EBIDTA at Rs 250 crore grew by 7% of EBIDTA margins improved by 110 basis points to 28.1%.
  • PBT at Rs 220 crore grew by 13%.
  • PAT at Rs 213 crore grew by 19%.
  • Increased stake in Helios Lifestyle (The Man Company) from 50.4% to 98.3%.
  • The Board of Directors declared an interim dividend of 400%, amounting to Rs 4 per share for FY25.

Harsha V Agarwal, Vice Chairman and Managing Director, Emami, said: We are pleased to close the first half of the year with strong performance, achieving 6% revenue growth, 10% EBITDA growth, and a 16% profit increase despite macroeconomic challenges. For H2FY25, we expect stronger offtakes driven by improved urban demand and stable seasons ahead.

Our international business demonstrated resilience despite geopolitical challenges, delivering double-digit growth, excluding Bangladesh. Besides good performance of our existing brands, strategic investments and the recent launch of 11 new domestic products are set to boost consumer confidence and drive double-digit revenue growth in the second half.”

Mohan Goenka, Vice Chairman and Whole-Time Director, Emami, said: “Organized channels like Modern Trade, e-Commerce, and Institutional sales now contribute 26.6% to our domestic business, a 190-basis point increase in the first half. We remain committed to achieving high single-digit revenue growth and double-digit EBITDA growth for FY25.

The Q3 relaunch of Fair and Handsome and focused efforts on Kesh King strengthen our confidence in driving H2 growth. With a favourable winter forecast, we expect strong performance from our winter portfolio."

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Personal Products company Emami announced Q1FY25 results:

  • Revenue from Operations at Rs 906 crore grew by 10%
  • Domestic Business grew by 10% with a volume growth of 8.7%
  • International Business grew by 11% growth in Constant currency
  • Gross Margins at 67.7% improved by 230 bps
  • EBIDTA at Rs 216 crore grew by 14% despite 21% higher investments in A&P
  • EBIDTA margins improved by 90 basis points to 23.9%
  • PBT at Rs 178 crore grew by 19%
  • PAT at Rs 153 crore grew by 11%

Harsha V Agarwal, Vice Chairman and Managing Director, Emami Limited said: “I am very happy to announce a strong and profitable growth this quarter, highlighted by robust domestic volume growth of 8.7%, a befitting start to the new financial year as we celebrate our 50th Anniversary. Our summer portfolio performed exceptionally well, led by the stellar performances of our power brands, Navratna and Dermicool. Modern trade, eCommerce, and institutional channels continued to post strong growth in the Domestic business and our International Business also witnessed impressive growth of 11% in constant currency driven by the MENA and SAARC regions. As we move forward, we remain committed to delivering sustainable and profitable volume-led growth.”

Mohan Goenka, Vice Chairman and Whole-Time Director, Emami Limited said: "I am delighted to share that while our sales grew in double digits, our profits grew even faster with a 14% growth in EBITDA, despite 21% higher investments behind our brands. Our EBITDA margins also improved by 90 basis points. We continue to focus on our strategy to improve our distribution, invest aggressively in our key brands, and drive market share growth across our portfolio. With the forecast of a normal monsoon and the government's continued focus on macro-economic growth, we expect growth to accelerate in the coming months."

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Personal Products company Emami announced Q4FY24 results:

  • Consolidated Net Sales at Rs 881 crore grew by 8%
  • Revenue from Operations at Rs 891 crore grew by 7%
  • Domestic Business grew by 8% (Volume growth of 6.4%)
  • International Business grew by 8% (Constant currency growth of 9%)
  • Gross Margins at 65.8% improved by 270 bps
  • EBIDTA at Rs 211 crore grew by 6% despite 39% higher investments in A&P
  • PAT at Rs 149 crore grew by 3%

Harsha V Agarwal, Vice Chairman and Managing Director, Emami Limited said: “We are very happy to have delivered a growth of 8% in our consolidated net sales, led by a domestic volume growth of 6.4% in the fourth quarter, driven by most of our key brands. Despite facing geo-political challenges, our international business continued to perform well and achieved a commendable 9% growth in constant currency terms. We expect our core brands to deliver a healthy all-round growth going forward, aided by recovery in rural, a strong summer and forecast of a good monsoon. Our strategic investments in innovative start-ups are expected to continue their robust growth and improve their profitability.”

Mohan Goenka, Vice Chairman and Whole-Time Director, Emami Limited said: “We are pleased to have closed the fourth quarter with a 6% growth in EBIDTA despite 39% higher investment in marketing promotions. It is encouraging to witness signs of market recovery with rural gradually bouncing back. Our contribution from organised channels has increased to 26% of our domestic business from 22% in FY23. Our enhanced investment in A&P to strengthen brand visibility and strategic distribution initiatives likes Project Khoj and other digital interventions are expected to provide impetus to our sales going forward. Our outlook is positive for the near and mid-term and we aim to deliver healthy growth supported by favourable operating environment.”

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Personal Products company Emami announced Q3FY24 & 9MFY24 results:

Financial Performance:
- Consolidated Revenues: Q3FY24 at Rs 996 crore with a 1% growth, and 9MFY24 at Rs 2,686.8 crore with a 5% growth.
- EBIDTA: Q3FY24 at Rs 315 crore, up by 7%, and 9MFY24 at Rs 738.5 crore, up by 11%.
- PAT (Profit After Tax): Q3FY24 at Rs 258 crore, increased by 9%, and 9MFY24 at Rs 577.4 crore, increasing by 16%.

Business Segments:
- Domestic Business: Reported flat growth for Q3; non-winter products grew by 5%.
- International Business: Registered an 8% growth in Rs and a constant currency growth of 11% on a Q3FY24 basis, dominant in the MENAP region.

Margins:
- Gross Margin: Improved by 290 basis points to 68.8% in Q3FY24.
- EBIDTA Margin: Increased by 170 basis points in Q3FY24.
- PAT Margin: Improved by 180 basis points in Q3FY24.

Dividends:
- Declared an interim dividend of 400%, which amounts to Rs 4/- per share.

Harsha V Agarwal, Vice Chairman and Managing Director: "I am happy that we could deliver another quarter of resilient performance along with substantially improved profitability with a 7% growth in EBIDTA and 9% growth in Profit after Tax, despite subdued demand in Q3. Disrupted winter, weak rural demand, and continued inflationary woes impacted the winter and discretionary offtakes. We remain committed to delivering volume-led profitable growth going forward aided by accelerated scale-up of emerging channels, distribution initiatives, ongoing brand and strategic investments coupled with the launch of innovative products."

Mohan Goenka, Vice Chairman and Whole-Time Director: "We showcased our adaptability in the face of changing market dynamics to post a resilient revenue growth despite a delayed winter. Our International business posted an impressive 11% constant currency growth led by the MENAP region. Our commitment to innovation remains unwavering, marked by the launch of various new innovative products both in domestic and international markets, underscoring our dedication to driving future growth and delivering value to our stakeholders."

 

 

Result PDF

Personal Products company Emami announced Q2FY24 results:

1. Financial Performance
- Consolidated revenues grew by 6% to reach Rs 865 crore.
- Emami posted a resilient performance in Q2FY24 with a 20% growth in EBIDTA.
- Domestic business grew by 4%, while international business grew by 12%.

2. Operational Highlights
- Emami achieved a commendable 2% volume growth in the domestic business, driven by channels catering to urban markets.
- International business delivered a constant currency growth of 16%, with robust performances in the SAARC and MENAP regions.
- Gross margins improved by 350 basis points, reaching 70.1%.
- Introduction of innovative digital-first products in the domestic business, including Glycerine bathing bars and organic onion hair masks.

3. Strategic Investments
- Emami acquired a 26% stake in Axiom Ayurveda Pvt. Ltd, which plays in the fruit-based nectars category under the brand 'AloFrut'.
- Axiom markets a refreshing and healthy fusion of aloe vera pulp and fruit blends.

4. Dividend Declaration
- The Board of Directors declared an interim dividend of 400% amounting to Rs 4 per share for FY24.
- The dividend reflects the company's strong performance and commitment to rewarding shareholders.

Harsha V Agarwal, Vice Chairman and Managing Director, Emami said, “In this dynamic and challenging environment, our results exemplify our dedication to growth and innovation, marked by a good increase in both volumes and revenues. Strong performance by both Modern Trade and e-commerce has led to a decent revenue growth of 6% and an impressive constant currency growth of 16% in our international business during this quarter. Our recent expansion into the juice category, marked by a strategic 26% investment in Axiom Ayurveda (AloFrut), aligns with our vision to diversify into high growth segment where we are currently not present. These strategic entries in diverse categories act as a launch pad for future growth of the Company.”

Mohan Goenka, Vice Chairman and Whole-Time Director, Emami said, "I'm delighted to announce our Company's positive performance in Q2FY24. Despite macroeconomic challenges, we achieved a 6% revenue growth. Notably, our gross margins expanded by 350 basis points, showcasing our operational excellence. EBIDTA soared by 20%, with margins expanding by 300 basis points, underscoring our dedication to value and quality. These achievements affirm our commitment to delivering value and quality to our consumers, partners and stakeholders. With the Government's support creating favorable conditions in rural markets, we're poised for a strong second half, amplifying our market presence.”

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