Transcript of Earnings Call held on 4th August, 2026

10th August, 2026 The Manager – Listing The Manager – Listing National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Plot No. C/1, Block – G Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (E) Dalal Street Mumbai – 400 051 Mumbai – 400 001 Scrip Code: EMAMILTD Scrip Code: 531162 Sub: Transcript of Investor’s Conference Call of the Company for Q1 FY 27 – Financial Results Dear Sir/ Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript of the Conference Call with Analysts / Investors held on 4th August, 2026, post declaration of the Unaudited Financial Results (Standalone & Consolidated) for the quarter ended 30th June, 2026. The said transcript is also available on the Company’s website at www.emamiltd.in. This is for your information and record. Thanking you, Yours faithfully, For Emami Limited Ravi Varma Company Secretary & Compliance Officer Membership No: F9531 (Encl: As above) “Emami Limited Q1 FY27 Earnings Conference Call” August 04, 2026 MANAGEMENT: MR. MOHAN GOENKA – WHOLE-TIME DIRECTOR AND VICE CHAIRMAN – EMAMI LIMITED MR. VIVEK DHIR – CHIEF EXECUTIVE OFFICER – INTERNATIONAL BUSINESS – EMAMI LIMITED MR. DHRUV AGGARWAL – CHIEF GROWTH OFFICER – EMAMI LIMITED MR. GUL RAJ BHATIA – PRESIDENT – HEALTHCARE – EMAMI LIMITED MR. MANISH GUPTA – PRESIDENT SALES – EMAMI LIMITED MR. RAJESH SHARMA – PRESIDENT – FINANCE AND INVESTOR RELATION – EMAMI LIMITED MODERATOR: MR. PERCY PANTHAKI – IIFL CAPITAL SERVICES LIMITED Page 1 of 12 Emami Limited August 04, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Emami Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in 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 or your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Percy Panthaki from IIFL. Thank you, and over to you, sir. Percy Panthaki: Hi. Good evening, everyone. I have the pleasure to host the management of Emami Limited for their quarterly conference call. On the line with me, I have Mr. Mohan Goenka, Whole Time Director and Vice Chairman; Mr. Vivek Dhir, CEO, International Business; Mr. Gul Raj Bhatia, President, Healthcare; Mr. Manish Gupta, President, Sales; Mr. Dhruv Aggarwal, Chief Growth Officer; and Mr. Rajesh Sharma, President, Finance and IR. I'll hand over the call to Mr. Mohan Goenka for his initial comments, and then we'll open up for Q&A. Over to you, sir. Mohan Goenka: Good afternoon, ladies and gentlemen. Thank you for joining us today for Emami Limited's Q1 FY27 Earnings Call. I'm pleased to report that our consolidated revenue grew by 15% to INR1,039 crores during the quarter. 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% after considering the previous year numbers of two of our start-ups, Axiom and IncNut. As our business continues to evolve, we are also transitioning our disclosure framework from brand-wise reporting to category-wise reporting. This reflects the increasing scale and diversification of our portfolio and provides a more holistic view of performance across key consumer segments and aligns our reporting framework with industry practices. More details on this is available in our presentation. So, coming to our category performance. Hair and Scalp care emerged as one of our strongest performing categories, delivering 11% growth during the quarter. Within the portfolio, Navratna Cool Oil posted strong double-digit growth, while Kesh King reported mid-single-digit growth. 7 Oils in One once again delivered robust growth, reinforcing its position as one of the fastest- growing brands in our portfolio. Skin Care grew by 3% during the quarter. While the summer season was characterized by significant regional divergence, our Talc portfolio delivered high single-digit growth. The Male Grooming range and BoroPlus registered low single-digit growth, respectively. Healthcare grew by 2% during the quarter. The OTC portfolio continued to perform strongly and grew in high teens, while Medico range posted single-digit growth. The standout performance, however, continued to be our strategic investment portfolio. On a like-to-like basis, this portfolio grew by an impressive 61%, which now contributes 18% of our domestic business, highlighting the increasing relevance of our new age growth engine. The Man Company and Brillare continue to deliver strong momentum, supported by premiumization trends and growing Page 2 of 12 Emami Limited August 04, 2026 digital adoption. We are equally encouraged by the performance of our recently acquired businesses. Both Axiom Ayurveda and IncNut have started their journey within the Emami ecosystem on a strong footing and are delivering encouraging underlying like-to-like growth. Taken together, the quarter performance reinforces our belief that Emami today is no longer dependent on a few core categories or brands. We are building a much more diversified portfolio spanning traditional FMCG categories, personal and healthcare, premium beauty and grooming, digital-first brands and emerging consumer platforms. This diversification not only broadens our growth runway, but also enhances the resilience of our business model across varying economic and consumption cycles. Our channel transformation journey also continues to gather pace. Organized channels grew by 19% on a like-to-like basis and today contributes to 32% of our domestic business. Modern trade and e-com maintained strong momentum with quick commerce now contributes 35% of our e-com business. International business declined by 12% during the quarter, primarily due to disruptions in the West Asia conflict, which constrained our ability to execute orders. Despite the near-term headwinds, the underlying strength of our international franchise remains intact. We have used this period to strengthen market fundamentals, improve pricing architecture and enhance operational agility and remain confident of progressively regaining momentum and delivering healthy growth in the coming quarters. On profitability, the quarter witnessed inflationary pressures led by higher crude oil prices and sustained cost increases across packaging material. making it one of the challenging cost environment for the sector in recent years. These factors, together with the changing business mix following the integration of the acquired businesses, resulting in higher COGS and moderation in gross margin compared to last year. While we undertook measured price increases to mitigate the impact of cost inflation, the sharp rise in input costs during the quarter weighed on profitability. Given the current commodity cost trajectory, we are implementing further pricing actions and expect to more than offset the absolute increase in input cost during the financial year. We continue to focus on productivity enhancements, procurement efficiencies and value-led revenue management initiatives to strengthen margins and deliver sustained profitable growth. However, I'm pleased to highlight that despite of these cost pressures, EBITDA grew by 6% to INR226 crores and profit before tax grew by 4% to INR195 crores. This reflects the resilience of our business model and the effectiveness of the numerous cost management initiatives undertaken during the quarter. Profit after tax stood at INR137 crores, lower by 16% due to normalization of our effective tax rate. As part of our ongoing transformation journey, we are executing three strategic initiatives to strengthen our growth platform and improve business efficiency. We are enhancing supply chain planning, inventory management and distribution visibility, which will help improve forecas [Showing first 8,000 characters — download PDF for full document]