Analysts/Institutional Investor Meet/Con. Call Updates

October 21, 2026 To: To: DCS-CRD Listing Compliance BSE Limited National Stock Exchange of India Ltd. First Floor, New Trade Wing Exchange Plaza, 5th Floor Rotunda Building, Plot No. C/1, ‘G’ Block Phiroze Jeejeebhoy Towers Bandra- Kurla Complex Dalal Street, Fort, Mumbai 400 023 Bandra East, Mumbai 400 051 Stock Code: 533229 Stock Code: BAJAJCON Dear Sir/Madam, Sub: Conference Call transcripts (Scrip Code: NSE: BAJAJCON BSE: 533229) Please find attached a copy of the Conference Call transcripts in respect of Bajaj Consumer Care Limited dated October 15, 2026. The same may please be taken on record and disseminated to all. Thanking you, Yours Sincerely, For Bajaj Consumer Care Limited Jignesh Nagda Company Secretary & Compliance Officer Membership No.: A21827 Encl: as above Bajaj Consumer Care Limited 1231, 3rd Floor, Solitaire Corporate Park, 167, Guru Hargovind Marg, Chakala, Andheri (East), Mumbai 400 093 I Tel.: +91 22 66919477/78 I CIN: L01110RJ2006PLC047173 I Web: www.bajajconsumercare.com Registered Office: Old Station Road, Sevashram Chouraha, Udaipur- 313 001, Rajasthan Tel.: +91 0294-2561631, 2561632 “Bajaj Consumer Care Limited Q2 FY27 Earnings Conference Call” October 15, 2026 MANAGEMENT: MR. NAVEEN PANDEY – MANAGING DIRECTOR – BAJAJ CONSUMER CARE LIMITED MR. DILIP KUMAR MALOO – CHIEF FINANCIAL OFFICER – BAJAJ CONSUMER CARE LIMITED MR. AAKASH GUPTA – HEAD, FINANCE – BAJAJ CONSUMER CARE LIMITED MODERATOR: MR. MANOJ – ICICI SECURITIES Page 1 of 14 Bajaj Consumer Care Limited October 15, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Bajaj Consumer Limited Q2 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star, then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Manoj from ICICI Securities Limited. Thank you, and over to you, Mr. Manoj. Manoj: Hi, everyone. It's a wonderful good morning from the ICICI Securities research team. It's our absolute pleasure, once again, to host the management of Bajaj Consumer Care for the quarterly conference call. The company is represented today by Mr. Naveen Pandey, Managing Director; Mr. Dilip Kumar Maloo, Chief Financial Officer; Mr. Aakash Gupta, Head Finance. We continue to have a constructive stance on the Bajaj business and the stock. Now over to the management for opening remarks, post which we'll open the floor for Q&A. Thank you, and over. Naveen Pandey: Thank you, Manoj, and good morning, everyone. Welcome to the quarter two FY24 call for Bajaj Consumer Care. In the last quarter, we delivered a revenue of INR233 crores with a growth of 2.7% against the same quarter last year. On margins, we delivered an EBITDA of INR53 crores with an EBITDA margin of 25%, and a PAT of INR70 crores with a PAT margin of 21%. At the end of the first half of the year, our revenues are up 28% to INR674 crores. Our H1 EBITDA is INR167 crores, which is a growth of 85% over the previous H1. And our PAT is INR141 crores, which is a 75% growth over the previous H1. What I'm particularly happy about is that this performance came amidst a volatile and dynamic business environment. And despite all the challenges, we've been able to deliver these very strong set of numbers. In line with our commitment to strengthen our core, Almond Drops Hair Oil continues with its strong performance in this quarter and has delivered double-digit unit volume growth. This growth came across pack groups and sales channels. And while all pack groups have done well, the growth was particularly led by small and medium-sized packs, which outperformed the overall brand. As part of our commitment to further strengthen Almond Drops franchise, we launched the new enhanced positioning supported by our TV campaign based on hair strength leading to beauty. We have gone live with this campaign towards the end of the previous quarter. And in this quarter, you will see this being supported by a 360-degree campaign with enhanced investments and digital. This, for us, marks the start of reinvigoration and strengthening the premium position of this brand, and you shall see more action on this front in the coming quarters. Our consolidated A&P spend for the quarter were up 7% over the same period last year, and are up 18% on H1 basis. We continue to maintain robust SOV/SOM ratios in traditional and digital Page 2 of 14 Bajaj Consumer Care Limited October 15, 2026 media, and we have carefully optimized the non-working A&P and reworked our media operating cycles to create some spend efficiencies. As we move to the growth portfolio, the coconut franchise delivered a strong volume growth across channels. This quarter also saw the relaunch and new launches in the several of the growth portfolio's smaller brands. In amla oils, we have refined the consumer proposition and are testing the new mix in general trade. In body lotion, we have upgraded both the product and packaging, and will test it on e-commerce. In Banjara's, we have introduced packs that extend the brand into large adjacent categories, which could offer significant growth potential for us if we are successful. At an overall level, we have substantially improved the profitability of the growth portfolio and remain committed to building it into a second growth engine for the organization, both in terms of revenue and margins. This quarter saw continued momentum in our general trade channel, which grew in line with organized trade, and both channels delivered growth in the strong mid-20s. Within GT, both urban and rural business performed well, with rural continuing to grow marginally ahead of urban. Within organized trade, both modern trade and e-commerce performed well, with growth coming across sub-channels and customers. Quick-comm continued its scale-up and remains the fastest-growing sub-channel for us. In this quarter, we have also come close to completing our immediate objectives under the Project Aarohan, which has been a massive effort from our sales team over the past eight quarters. Spread across three phases, we covered GTM transformation across 13 key states. We've been able to add over 1 lakh outlets, a 1,000-plus distribution points, and have been able to close over 600 van routes, achieving an expansion in direct reach and a reduction in fixed S&D cost. While the work of infra-addition for this stage is largely done, our teams will continue to drive efficiency and attempt to improve throughput in these outlets in the balance of the year. But our work here is not over, as we will quickly move to Aarohan 2.0. In Aarohan 2.0, we will focus all our energies on expansion of our direct reach in urban by 10%, and in rural -- by more than that over the next six quarters. In international business, the rebound which we saw in quarter 1 continues in quarter 2, and we have performed well across country clusters. This channel for the full H1 has grown ahead of the company growth, and except for Bangladesh, most of our other key markets individually have also grown ahead of the company average. Bangladesh is witnessing a tough operating environment and grew in the teens. Our international business is also improving a sharp improvement in profitability. And on the back of revenue scale-up, margin correction, and cost optimization, we are delivering a good improvement in the EBITDA margins of this channel. Page 3 of 14 Bajaj Consumer Care Limited October 15, 2026 On the overall margin front, this quarter witnessed continued volatility in key raw material prices due to the West Asia war, edible oil inflation, and the cascading impact of these two things. Our gross margins for the quarter were at 59.9%, and overall for the first half of the year at 60.8%. Despite the sequential reduc [Showing first 8,000 characters — download PDF for full document]