Company leans on existing brands beyond Almond Drops amid input cost inflation pressures
Bajaj Consumer Care is targeting Rs 500 crore in revenue from its growth portfolio over the next three years, as it strengthens its push beyond the flagship Almond Drops hair oil brand, even as inflationary pressures continue to weigh on input costs across categories.
The strategy was outlined during the company’s March quarter (Q4FY26) investor call on Friday (17 April 2026), where management said future growth will largely come from existing brands rather than acquisitions.
At present, the growth portfolio contributes about Rs 225 crore in annual revenue. It excludes the core Almond Drops franchise and includes coconut oil, henna, gulab jal, amla oil and hair masques sold under brands such as Natyv Soul and Banjara’s.
“We will be further focusing on growing this portfolio to around Rs 500 crore in size over the next three years,” said Naveen Pandey, Managing Director, Bajaj Consumer Care, during the investor call, underlining the company’s sharper focus on diversification within the hair and personal care segment.
Within this portfolio, Bajaj Coconut and Banjara’s have emerged as key growth drivers. Banjara’s, in particular, has delivered double-digit growth and low-teen margins in its first year under Bajaj Consumer’s ownership, indicating early traction in the value-added hair and skincare space.
The segment competes with players such as Marico, Dabur India, WishCare and Forest Essentials.
Cost Pressures Intensify
Input cost pressures remain elevated, with inflation affecting nearly the entire cost base. “Nearly 100 per cent of our cost base is under inflation,” Pandey said, adding that cost increases range between 20 per cent and 50 per cent across categories.
The company also highlighted higher packaging costs due to supply chain disruptions and elevated raw material prices such as mustard oil and copra oil, which have not softened as expected.
In response, Bajaj Consumer Care has initiated calibrated price increases along with cost optimisation measures. “We believe that this situation will need us to take pricing and optimise costs across the line. We are already in the process of executing these changes,” Pandey said.
Despite cost headwinds, the company posted strong results in Q4FY26. Net profit more than doubled to Rs 63.6 crore, while revenue from operations rose 30.4 per cent year-on-year to Rs 326.65 crore.
Earnings before interest, taxes, depreciation and amortisation (Ebitda) surged 135 per cent to Rs 77 crore, with margins expanding to 23.7 per cent.
Investor sentiment remained strong, with the stock gaining over 170 per cent in the past year on the National Stock Exchange. The shares closed at Rs 474 on Friday (17 April 2026), up 10.5 per cent.
Leadership Changes And Expansion
The company has seen multiple leadership changes over the past 12 to 18 months, including the appointment of Aditya Singh as Chief Marketing Officer effective 22 December 2025, and Abhishek Bhattacharya as Head, International Business (ROW, MEA and Nepal) from 1 March 2026.
Earlier this week, the National Company Law Tribunal Jaipur bench approved the merger of Vishal Personal Care with Bajaj Consumer Care. The deal is expected to strengthen the company’s presence in southern markets. Vishal Personal Care owns the Banjara’s brand in the herbal personal care segment.
