BCBajaj Consumer Care533229Earnings call transcript

Q2 call: revenue INR233 crores, PAT margin 21%, about 5% price rise planned for Q3

Transcript of the Q2 earnings call held on October 15, 2026.

By ScoutQuest · Wed 21 Oct 2026, 11:06 AM IST · 2 min read

Revenue

INR233 crores, up 2.7% YoY

EBITDA

INR53 crores (25% margin)

H1 Revenue

up 28% to INR674 crores

Q2 performance

• Revenue INR233 crores, a growth of 2.7% against the same quarter last year.
• EBITDA INR53 crores at a 25% EBITDA margin; PAT INR70 crores at a 21% PAT margin.
• Gross margin 59.9% for the quarter and 60.8% for the first half.

First half picture

• H1 revenue up 28% to INR674 crores.
• H1 EBITDA INR167 crores, a growth of 85% over the previous H1; H1 PAT INR141 crores, up 75%.
• Advertising and promotion spend was up 7% in the quarter and 18% on an H1 basis.

Brands and channels

• Almond Drops Hair Oil delivered double-digit unit volume growth, led by small and medium-sized packs.
• General trade and organized trade both delivered growth in the strong mid-20s; quick commerce remains the fastest-growing sub-channel; rural grew marginally ahead of urban within general trade.
• In the growth portfolio, coconut saw strong volume growth, and amla oils, body lotion and Banjara's saw relaunches or new packs.

Distribution

• Under Project Aarohan, spread across three phases and 13 key states, management said the company added over 1 lakh outlets, 1,000-plus distribution points and closed over 600 van routes.
• Aarohan 2.0 will focus on expanding direct reach in urban by 10% and in rural by more than that, over the next six quarters.

Costs and pricing

• Raw material prices stayed volatile, with edible oil inflation cited; the company offset part of it through savings in fixed and employee costs.
• A further round of price increase and ml-age reduction is planned in Q3: approximately a 5% increase in consumer price, split roughly equally between a frontal price increase of 2% to 3% and a similar contribution from ml-age reductions.

Guidance given on the call

• Management said it expects high teens growth for the year and a double-digit growth aspiration over the long term, with no change to those aspirations.

What a retail investor may track

• Whether the Q3 price and pack-size action helps hold margins if input costs stay volatile.
• Progress on Aarohan 2.0 reach targets and the scale-up of the smaller growth brands.

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