General Updates

25th 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: Chairman’s Speech at the 43rd Annual General Meeting (“AGM”) of Emami Limited (“the Company”) held on 25th August, 2026 Dear Sir/ Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Chairman’s Speech delivered along with the presentation made at the 43rd AGM of the Company held on Tuesday, 25th August, 2026 through Video Conferencing / Other Audio Visual Means (VC/OAVM). The same 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) Chairman’s Speech Emami Limited - 43rd Annual General Meeting Dear Shareholders, It is both an honour and a privilege to address you, reflect on the year gone by and, more importantly, share why I believe the years ahead hold even greater promise for this Company that we have built together over more than five decades. At Emami, our journey has always been shaped by a simple yet powerful belief: sustainable growth comes from understanding consumers deeply, responding with agility to their changing needs, and having the courage to invest ahead of the curve. This approach has guided us from our roots in Ayurveda to our position today as one of India’s most trusted, diversified and future-ready personal care and healthcare companies. Today, Emami stands on a strong foundation of consumer trust, brand equity and financial discipline. We have a portfolio of over 25 brands and more than 1,000 products, reaching over 7.1 crore consumer households through a network of more than 5.4 million retail outlets across India, with a presence spanning more than 70 countries around the world. It is a matter of great pride that, somewhere in the world, more than 140 Emami products are sold every single second of every single day. These milestones are not merely financial markers. They reflect the enduring strength of our brands, the discipline of our capital allocation and the trust that generations of consumers and shareholders have placed in us. As I reflect on FY26, I do so with pride, but also with a clear-eyed view of the environment in which your Company operated. This was not, by any measure, an easy year. A weaker and unseasonal summer softened demand for the talc portfolio. The transition to the new GST regime created temporary disruptions in trade. The escalation of the West Asia conflict added volatility to commodity prices, freight costs, supply chains and consumer sentiment. These headwinds were meaningful, and I will not say they did not matter. They did. But I will say this with conviction: what mattered more was the character of the business that absorbed them. FY26 tested the architecture of Emami, and that architecture held. The resilience we demonstrated was not accidental. It was the outcome of deliberate choices made over several years: a broader and more balanced portfolio, deeper digital capability, disciplined expansion into new consumption spaces, stronger operating systems, and a conscious reduction in dependence on any single season, category or channel. An Industry in Transition India today is witnessing a significant transformation in the way consumers live, choose and consume. Aspirations are rising, preferences are becoming more diverse, and the boundaries between the familiar and the new are shifting rapidly. The personal care and healthcare FMCG industry is undergoing profound change, with consumers increasingly looking beyond basic functionality and seeking products that deliver efficacy, trust, convenience and meaningful experiences. Wellness is no longer a separate category. It has become a way of life. Consumers are embracing preventive health, self-care and holistic well-being, opening new opportunities across skincare, haircare, pain management, nutrition and healthcare. At the same time, premiumisation continues to reshape choices, with consumers showing a growing willingness to invest in superior quality, innovative formulations and enhanced experiences. Digital channels, e-commerce, quick commerce and social media are also transforming how consumers discover, evaluate and purchase products. Winning in this environment requires more than strong brands. It requires agility, innovation, consumer insight, speed of execution and the ability to engage consumers seamlessly across every touchpoint. For a company like ours, with brands built over decades of trust, this creates significant opportunities. These industry shifts align closely with Emami’s strengths and give us confidence in the long-term growth potential of our categories. FY26 Performance: Tested, Resilient and Disciplined Against this backdrop, your Company delivered a steady and disciplined performance in FY26. We reported broadly stable consolidated revenue of ₹3,779 crore. Excluding the Talc and Prickly Heat Powder portfolio, which was impacted by weather disruptions and unfavourable summer conditions in the first and fourth quarters, our core domestic business grew on the strength of our diversified portfolio and consistent consumer engagement. Despite external pressures, we protected profitability through operating discipline, portfolio management and cost efficiency, delivering EBITDA of ₹964 crore at a margin of 25.5%. Profit After Tax stood at ₹775 crore, while PAT margin remained healthy at 20.5%. Our business continues to generate strong returns, with Return on Equity at around 30%, reflecting the inherent capital efficiency of our model. With a debt-equity ratio of only 0.04x and a net cash surplus of ₹883 crore as of 31st March 2026, we remain virtually debt-free. This financial strength enables us to invest boldly in the future, while staying disciplined and prudent in every capital allocation decision. Your Board declared interim dividends amounting to 1000%, or ₹10 per equity share, for the year, translating into a total payout of ₹436.5 crore to shareholders. This continues our uninterrupted, multi-decade track record of dividend payouts and reflects our confidence in the strength, predictability and quality of our cash generation. Returning value to shareholders is not a coincidence at Emami. It is part of our philosophy, our discipline and our long-standing commitment. The Architecture Behind Our Resilience I would like to spend a few moments explaining why this resilience is not accidental. Over the last several years, your management has been deliberately reshaping Emami around three strategic priorities: premiumising and expanding the core, creating the next generation of growth engines and building digital as a core capability. FY26 was the year in which each of these priorities moved decisively from intent to evidence. Premiumising and Expanding the Core At Emami, we do not view our legacy brands as mature businesses that have reached their ceiling. We view them as powerful platforms with significant headroom for growth. Brands such as Navratna, BoroPlus, Zandu, Kesh King, Dermicool and Smart And Handsome have been built over decades of trust, but their true strength lies in their ability to remain contemporary, relevant and expandable. We have systematically expanded these brands beyond their traditional categories and formats. Zandu’s pain management franchise now spans gels, sprays and roll- ons, in addition to its traditional balm formats. Kesh King has evolved through Kesh King Gold and new extensions into serums and organic solutions. BoroPlus has transformed from a winter-centric antiseptic cream into a year-round personal care fra [Showing first 8,000 characters — download PDF for full document]