Emami Ltd-$ — Q1 FY27 earnings call
Summary generated by AI from the official transcript Emami Ltd-$ filed with BSE on 10 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Emami reported Q1 FY27 consolidated revenue growth of 15% to INR1,039 crores, with domestic business up 20% and international business declining 12% due to disruptions from the West Asia conflict. EBITDA grew 6% to INR226 crores and profit before tax grew 4% to INR195 crores, while profit after tax fell 16% to INR137 crores due to tax rate normalization. Management also introduced a new category-wise reporting framework, replacing brand-wise disclosure, and highlighted 61% like-to-like growth in its strategic investment portfolio comprising The Man Company, Brillare, Axiom and IncNut.
Numbers mentioned
Consolidated revenue: INR1,039 crores (Q1 FY27)
p. 3
“our consolidated revenue grew by 15% to INR1,039 crores during the quarter”
Mohan Goenka, page 3 of the filed PDF · View the filing
Domestic business growth: 20% (Q1 FY27)
p. 3
“Our domestic business grew by 20% and on a like-to-like basis, growth stood at a healthy 12% with a volume growth of 8%”
Mohan Goenka, page 3 of the filed PDF · View the filing
Hair and Scalp care growth: 11% (Q1 FY27)
p. 3
“Hair and Scalp care emerged as one of our strongest performing categories, delivering 11% growth during the quarter”
Mohan Goenka, page 3 of the filed PDF · View the filing
Skin Care growth: 3% (Q1 FY27)
p. 3
“Skin Care grew by 3% during the quarter”
Mohan Goenka, page 3 of the filed PDF · View the filing
Healthcare growth: 2% (Q1 FY27)
p. 3
“Healthcare grew by 2% during the quarter”
Mohan Goenka, page 3 of the filed PDF · View the filing
Strategic investment portfolio growth: 61% (Q1 FY27)
p. 3
“On a like-to-like basis, this portfolio grew by an impressive 61%, which now contributes 18% of our domestic business”
Mohan Goenka, page 3 of the filed PDF · View the filing
Organized channel growth: 19% (Q1 FY27)
p. 4
“Organized channels grew by 19% on a like-to-like basis and today contributes to 32% of our domestic business”
Mohan Goenka, page 4 of the filed PDF · View the filing
International business decline: 12% (Q1 FY27)
p. 4
“International business declined by 12% during the quarter, primarily due to disruptions in the West Asia conflict, which constrained our ability to execute orders”
Mohan Goenka, page 4 of the filed PDF · View the filing
EBITDA: INR226 crores (Q1 FY27)
p. 4
“EBITDA grew by 6% to INR226 crores and profit before tax grew by 4% to INR195 crores”
Mohan Goenka, page 4 of the filed PDF · View the filing
Profit after tax: INR137 crores (Q1 FY27)
p. 4
“Profit after tax stood at INR137 crores, lower by 16% due to normalization of our effective tax rate”
Mohan Goenka, page 4 of the filed PDF · View the filing
Input cost increase: 360 basis points (Q1 FY27)
p. 6
“our input cost, if you would see, has gone up by 360 basis points, okay?”
Mohan Goenka, page 6 of the filed PDF · View the filing
Strategic investments quarterly revenue: INR160 crores (Q1 FY27)
p. 9
“for this quarter, we did INR160 crores”
Mohan Goenka, page 9 of the filed PDF · View the filing
Dividend from international subsidiary within other income: INR32 crores (Q1 FY27)
p. 8
“it includes a dividend from one of our international subsidiaries amounting to roughly INR32 crores, so which gets knocked off in consolidation”
Rajesh Sharma, page 8 of the filed PDF · View the filing
Core domestic business growth excluding strategic investments: 6% (Q1 FY27)
p. 13
“excluding the domestic, if you look at our domestic business, that has grown by almost 6%”
Rajesh Sharma, page 13 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Input cost offset via pricing — more than offset the absolute increase in input cost · FY27
stated firmly by Mohan Goenka
p. 4
“we are implementing further pricing actions and expect to more than offset the absolute increase in input cost during the financial year”
Mohan Goenka, page 4 of the filed PDF · View the filing
Kesh King growth — double-digit growth · end of the year
stated as an aspiration by Mohan Goenka
p. 8
“we are expecting a double-digit growth at the end of the year for Kesh King portfolio”
Mohan Goenka, page 8 of the filed PDF · View the filing
Strategic investments full-year revenue — INR750 crores to INR800 crores · FY27
stated as an aspiration by Mohan Goenka
p. 9
“By the end of the year, I think we will be ending up anywhere between INR750 crores to INR800 crores”
Mohan Goenka, page 9 of the filed PDF · View the filing
Strategic investments EBITDA margin — high single digit · 3-year point
stated as an aspiration by Dhruv Aggarwal
p. 10
“I think you would expect high single digit probably at the 3-year point, and then we'll take it from there”
Dhruv Aggarwal, page 10 of the filed PDF · View the filing
Talcum powder revenue recovery — back to FY25 levels · FY27
stated firmly by Mohan Goenka
p. 7
“we would be able to recover and go back to the '25 numbers”
Mohan Goenka, page 7 of the filed PDF · View the filing
International business growth — significant growth · third and fourth quarter
stated conditionally by Mohan Goenka
p. 7
“Most likely, you will see a significant growth coming in from the third and the fourth quarter because we have got -- we have realigned our -- a lot of international business strategies”
Mohan Goenka, page 7 of the filed PDF · View the filing
Effective tax rate — 25%, 26% · this year
stated firmly by Rajesh Sharma
p. 11
“It should be around 25%, 26% Vaibhav this year because still last year, we were enjoying some fiscal benefits”
Rajesh Sharma, page 11 of the filed PDF · View the filing
OTC business growth — double-digit growth · rest of the year
stated as an aspiration by Gul Raj Bhatia
p. 12
“we are fairly hopeful that at the rest of the year also, we'll be able to continue double-digit growth for the OTC business”
Gul Raj Bhatia, page 12 of the filed PDF · View the filing
Core business growth — remainder of the year
stated as an aspiration by Rajesh Sharma
p. 13
“we expect some better numbers only going ahead on the core business”
Rajesh Sharma, page 13 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said growth was broad-based across all four subsidiaries and expected to continue at similar levels.
Answered by Dhruv Aggarwal
Asked by Abneesh Roy: How sustainable is the 61% growth in strategic investments and which subsegments are driving it?
p. 5
“I think you will see something similar. So this is quite sustainable.”
Dhruv Aggarwal, page 5 of the filed PDF · View the filing
Management attributed most of the 360bps input cost rise to the West Asia conflict and mix, and expressed confidence in offsetting it with price increases over coming quarters.
Answered by Mohan Goenka
Asked by Arnab Mitra: How much of the margin impact is from input costs versus structural mix change, and can it be offset?
p. 6
“our input cost, if you would see, has gone up by 360 basis points, okay? And out of which almost 200 basis points is due to the conflict, West Asia conflict and the balance 160 is because of the mix”
Mohan Goenka, page 6 of the filed PDF · View the filing
Management confirmed a full recovery is expected this year, with strong numbers in the current quarter and for the full year.
Answered by Mohan Goenka
Asked by Arnab Mitra: Will talcum powder revenue recover fully to FY25 levels given last year's decline?
p. 7
“You will see a substantially high numbers in this quarter for Talcum. For the whole year, you will see a significantly high numbers.”
Mohan Goenka, page 7 of the filed PDF · View the filing
Management explained personal care manufacturing has largely been rerouted outside the affected region, but OTC pain management products still face export blockages from India.
Answered by Vivek Dhir
Asked by Arnab Mitra: Has the company found ways to route international business around the Hormuz/Middle East disruption?
p. 7
“the OTC pain management space, we are still struggling because certain pain management space, other things have still not been able to move out of India till date, and we are hefty orders with us not able to move”
Vivek Dhir, page 7 of the filed PDF · View the filing
Management said the aggregate portfolio is roughly at EBITDA breakeven currently.
Answered by Dhruv Aggarwal
Asked by Harit Kapoor: What is the aggregate EBITDA margin level for the strategic investments portfolio?
p. 8
“At an aggregate level, I think they're about EBITDA neutral breakeven.”
Dhruv Aggarwal, page 8 of the filed PDF · View the filing
Management said growth remains mid-to-high single digit due to some base effect but expects double-digit growth by year end.
Answered by Mohan Goenka
Asked by Vaibhav Gupta: Why has Kesh King growth slowed despite a low base?
p. 8
“Growth has been mid- high single-digit growth Vaibhav. So it will be like some quarters because maybe of some base effect and all, but we are expecting a double-digit growth at the end of the year for Kesh King portfolio.”
Mohan Goenka, page 8 of the filed PDF · View the filing
Management said margin pressure is short-term due to the West Asia conflict and expressed commitment to maintaining margins going forward.
Answered by Mohan Goenka
Asked by Kaustav Bubna: Given lower-margin start-up businesses are driving growth, what is the outlook for overall margins?
p. 11
“despite of all this, we are committed that our margins don't come down. That's a task that we have, and I'm confident that we will be able to maintain our margins.”
Mohan Goenka, page 11 of the filed PDF · View the filing
Management said the acquisition was funded internally from surplus, which will result in slightly lower other income going forward.
Answered by Rajesh Sharma
Asked by Kunal Vora: How is the INR500 crore Axiom investment being funded, and will it affect interest income/expense?
p. 12
“it is funded internally. So whatever surplus we had, we have required that only for these acquisitions.”
Rajesh Sharma, page 12 of the filed PDF · View the filing
Management said domestic core business grew around 6%, with the overall growth drag coming from international business challenges.
Answered by Rajesh Sharma
Asked by Kunal Vora: What is core business growth excluding recently acquired subsidiaries, given GST cuts and consumption strength?
p. 13
“So it is only because of international, it has come down because of its own challenges in Middle East.”
Rajesh Sharma, page 13 of the filed PDF · View the filing
Risks flagged
West Asia conflict disrupting international business execution
p. 4
“International business declined by 12% during the quarter, primarily due to disruptions in the West Asia conflict, which constrained our ability to execute orders”
Mohan Goenka, page 4 of the filed PDF · View the filing
Inflationary pressure from crude oil prices and packaging costs
p. 4
“the quarter witnessed inflationary pressures led by higher crude oil prices and sustained cost increases across packaging material.”
Mohan Goenka, page 4 of the filed PDF · View the filing
Commodity inflation and geopolitical developments as ongoing concerns
p. 5
“With commodity inflation and geopolitical developments remains areas to watch”
Mohan Goenka, page 5 of the filed PDF · View the filing
OTC pain management exports from India still blocked
p. 7
“we are hefty orders with us not able to move. We are trying to find solutions to get some approvals from the ministries.”
Vivek Dhir, page 7 of the filed PDF · View the filing
Lower margins in newly acquired start-up businesses affecting mix
p. 6
“that would be difficult because the start-ups have lower margins”
Mohan Goenka, page 6 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.