Bajaj Consumer Care Ltd

DEAR SHAREHOLDERS,

It gives me immense pleasure to present to you the Annual Report for the financial year 2024–25.

As one of India?s most respected FMCG companies, Bajaj Consumer Care has proudly served as a trusted name across Indian households for over seven decades. Our unwavering commitment to innovation, consumer-centricity and sustainable progress has empowered us to develop products that stand as benchmarks of quality and trust. Over the years, we have meticulously built this illustrious legacy with strategic brilliance, a resilient pursuit of excellence and progressive foresight.

India at a Glance

In an era marked by escalating global trade tensions and persistent geopolitical uncertainties, the Indian economy has demonstrated remarkable resilience and strong growth. Supported by robust consumption, prudent fiscal policies by the government, and visionary reforms, the Indian economy has carved a promising growth path despite global headwinds. Inflation has eased, liquidity has stabilised, and manufacturing and exports are gaining sustained traction.

The Indian FMCG sector remains dynamic and transformative—driven by digital adoption, evolving lifestyles, and increasing demand for value-added, health-conscious products. FY25 posed some short-term headwinds—urban demand was impacted by food inflation and high interest rates—yet rural volumes bounced back with vigour, buoyed by a good monsoon and strategic channel interventions. Going forward, we foresee a broad-based revival in demand, anchored by innovation, digitisation, and superior supply chain execution.

Financial and Operational Performance

At Bajaj Consumer, our goal is not just to perform—but to transform. FY25 was a year of consolidation, growth and momentum. Our consolidated revenue stood at H950 crore, backed by impressive growth in modern trade and e-commerce. Standalone EBITDA touched H136.3 crore, and Profit After Tax stood at H130.1 crore, a reflection of disciplined cost controls and deeper market engagement. This performance was fuelled by significant improvements across retail, wholesale, and rural markets. Project Aarohan, our route-to-market transformation initiative, has delivered early but promising results—adding over 24,000 new outlets and expanding into 1,300 new towns in pilot states. These structural improvements lay the foundation for future market share gains.

Adapting to Shifting Consumer Trends

Consumer behaviour is undergoing a profound transformation, with a marked shift from traditional channels to new-generation platforms like quick commerce and e-commerce. These channels are redefining convenience, offering unparalleled speed and accessibility. BCCL has proactively adapted to this trend by strengthening its digital presence and optimizing its product portfolio for online shoppers. Our e-commerce channel grew by 29% in FY25, driven by quick commerce platforms where products like Bajaj 100% Pure Coconut Oil and Bajaj Almond Drops Body Lotion have gained traction.

Investments in digital marketing, data-driven consumer insights, and tailored SKUs for online platforms have enhanced our competitiveness. By integrating advanced analytics and partnering with leading e-commerce players, we are well-positioned to capture the growing digital market while maintaining our stronghold in general trade.

Simultaneously, our international business recorded a robust growth of 20% y-o-y, with consistent performance across all geographies.

Strategic Planning for Sustainable Success

Our comprehensive marketing efforts focused on strengthening consumer connections, expanding our footprint and ensuring targeted consumer promotions. This was further amplified by impactful on-ground initiatives at one of the largest consumer engagement platforms, the Kumbh Mela, which lasted for 45 days and significantly boosted visibility.

We also tirelessly worked to enhance our core competencies. In pursuit of operational excellence, multiple initiatives were implemented, including optimising specifications, securing alternative vendors and sourcing alternate raw materials. Additionally, we have driven significant productivity improvements through automation on select product lines and smart manufacturing initiatives, reducing non-value-added activities and enhancing manpower productivity. As a responsible corporate citizen, we have always ensured our growth strategy in tandem with the upliftment of society. Our CSR initiatives have positively impacted over 16,000 families across 650 villages, primarily focusing on rainwater harvesting and sustainable agriculture practices. As part of our ESG commitments, we are on track to meet our short-to medium-term targets.

Bajaj 100% Pure Coconut Oil has emerged as a great value addition to our portfolio, achieving double-digit value growth. This success is driven by rising consumer preference for natural products, strategic marketing initiatives, and enhanced distribution. In Q2 FY25, targeted campaigns during festive seasons like Durga Puja in West Bengal and visibility in over 36 Reliance stores in South India boosted brand equity. By leveraging premium packaging, competitive pricing, and a robust supply chain, we have solidified Bajaj 100% Pure Coconut Oil?s market position.

The Meaning Behind Our Acquisition

A pivotal milestone in FY25 was the acquisition of Vishal Personal Care Private Limited, owner of the Banjara?s brand. This strategic move marks a critical step in our journey to diversify our personal care portfolio and deepen our presence in high-growth markets. Banjara?s brings with it strong general trade reach in South India, an AYUSH-certified manufacturing base, and proven equity in the natural personal care space. We are confident that by leveraging its strengths and integrating it with our own robust distribution network in North and Central India, we will unlock powerful synergies and drive scalable, profitable growth.

Looking Ahead

With the new leadership at the forefront, we believe Bajaj Consumer Care is all set to transform in FY26.

With signs of macroeconomic revival—cooling inflation, steady commodity prices, and rising consumer sentiment—. Our hero products, especially in the hair oil category, are witnessing a promising resurgence. The ongoing expansion of our general trade network through Project Aarohan will further deepen our reach and relevance.

We enter the new year with renewed confidence—committed to delivering consistent double-digit growth, expanding our EBITDA margins, and creating sustainable long-term value for all stakeholders.

Lastly, I extend my heartfelt gratitude to all our stakeholders—our customers, investors, partners, and employees—for their unwavering support and belief in our vision.

Together, let us continue to evolve, grow, and excel.