Slide 1: Exchange filing cover letter
10th November, 2025 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
Slide 2: Press release: Q2FY26 highlights
GST reform structurally positive; Progressive H2 outlook amidst short term trade corrections Q2FY26 HIGHLIGHTS • GST 2.0 reform impacted offtakes for temporary trade disruption o 88% of core domestic portfolio benefited o 93% of core domestic portfolio at 5% GST o Revision across 293 products and 49
Slide 3: Press release: sales and innovation commentary
inventory, resulting in a short-term moderation in sales. The timing of the GST rate change also coincided with the peak winter pipeline build-up, leading to a deferment in the Company's winter portfolio loading. Further, the summer portfolio navigated a second consecutive weather-affected quarter,
Slide 4: Press release: management quotes and outlook
remain confident of strong growth in the coming quarters. Our bottom line remains stable, with costs well managed despite global supply chain challenges due to geo-political issues. To meet our growth aspirations, going forward, we will continue to strengthen our portfolio through premiumisation and
Slide 5: Q2 & H1FY26 Performance Update
Q2 & H1FY26 Performance Update 10th November 2025
Slide 6: GST reforms and impact
GST reforms and impact Reduction in GST rate to 5% from 12% / 18% Passing benefits to Consumers Revision across Volumes Prices Reduced 293 products 88% 12% 5% 77% increased and 497 SKU’s of Core Domestic Portfolio 18% 5% 11% Consumption Tailwinds Improving Stimulating broad Enhancing 93% consumer ba
Slide 7: Q2FY26 Sales Performance
Q2FY26 Sales Performance Non- GST GST impacted Deferred Talc/ PHP impact Portfolio Winter loading Portfolio Portfolio +10% -8% -30% -76% Impact on Sales +2.5% -4.1% -4.4% -4.5% -10.5% Note- PHP: Prickly Heat Powder 3
Slide 8: Q2FY26 Sales Performance
Q2FY26 Sales Performance Particulars Q2 Growth Core Domestic ex Talc / PHP -12% Talc/ PHP -76% Core Domestic Business -17% Strategic Investments +16% Total Domestic Business -15% International Business +8% Consolidated Net Sales -10% Other Operating Income -1% Revenue from Operations -10% 4
Slide 9: Domestic Brand wise Performance
Domestic Brand wise Performance Particulars Q2 Growth Pain Management Range -4% BoroPlus Range -30% Navratna & Dermicool Range -33% Healthcare Range +1% Male Grooming Range -9% Kesh King Range -23% 7 Oils in One -12% Strategic Investments +16% Total Domestic Business -15% 5
Slide 10: Smart & Handsome – Foray into new categories
Smart & Handsome – Foray into new categories ALREADY PRESENT NEW ENTRY FACE CREAM SUNSCREEN BODY SPRAY / DEO Brightening Cream Pro Maxx Sunscreen • Power Rise Body Spray SPF 50 PA +++ • Power Play Body Spray BODY WASH FACE SERUM FACE WASH • Fresh Maxx Body Wash HydraBright Xcellence • Maxx Detox Bod
Slide 11: Smart and Handsome – NPD's
Smart and Handsome – NPD’s Face washes Face Serum Under eye Cream Sunscreen Maxx Detox Acnefix Xpert 5% Niacinamide Hydra 5% Niacinamide Hydra Sunshield Pro- Daily Scrub Wash Face Wash Bright Xcellence Bright Xcellence Maxx Sunscreen Face Serum Under Eye Cream Sheet Masks Shower Gels Body Sprays Max
Slide 12: Kesh King Relaunch Core Proposition
Kesh King Relaunch Core Proposition Wisdom of Ayurveda is now at the core of Kesh King and imbibed Power of across the portfolio Science 8
Slide 13: Unveiling Kesh King's new identity
Unvieling Kesh King’s new identity Enhanced formulation with better proposition Improved impact with better product Efficacy Premium packaging and product design New Hairfall Tracker included in the Oil pack With 21 Ayurvedic Herbs + Gro-Biotin 9
Slide 14: Key ATL & Digital Initiatives
Key ATL & Digital Inititatives Zandu Pancharishta Communiction Zandu Fast Relief campaign with repositioned as a “30-day digestive therapy” Blinkit Driving Brand Awareness by utilizing Zandu Ortho Vedic Digital campaigns for to move consumer perception beyond quick Oil’s L- band ad during Prime 7 Oi
Slide 15: Key BTL Initiatives
Key BTL Inititatives Consumer Connect & Zandu Health Juices morning walkers Leveraged in-store robot screens MT activations: Smart and Handsome Sampling Drive for Park activation and sampling featuring Smart And Handsome Grooming Studios in Mumbai & Delhi Balms in religious fairs activation / visibi
Slide 16: International Business Performance
International Business Performance Q2FY26 SAARC & SEA MENAP CIS Contribution Growth in to overall Sales +8% 22% H1 Salience: 41% H1 Salience: 42% H1 Salience: 13% NPD’s launched in Q2 Creme21 Papaya Creme 21 Xtra Bright Range Creme 21 Xtra Brightening Elixir, Day Cream, Night Cream, Facewash, Cocoa
Slide 17: Q2 Consolidated Financials
Q2 Consolidated Financials ₹ in crore Particulars Q2FY26 % Q2FY25 % Growth FY25 % Net Sales 786.7 98.5% 878.7 98.7% -10.5% 3,765.1 98.8% Other Operating Income 11.8 1.5% 11.9 1.3% -0.8% 44.1 1.2% Revenue from Operations 798.5 100.0% 890.6 100.0% -10.3% 3,809.2 100.0% Materials Cost 231.4 29.0% 261.0
Slide 18: H1 Consolidated Financials
H1 Consolidated Financials ₹ in crore Particulars H1FY26 % H1FY25 % Growth FY25 % Net Sales 1,679.9 98.7% 1,775.2 98.8% -5.4% 3,765.1 98.8% Other Operating Income 22.7 1.3% 21.4 1.2% 6.1% 44.1 1.2% Revenue from Operations 1,702.6 100.0% 1,796.7 100.0% -5.2% 3,809.2 100.0% Materials Cost 507.8 29.8%
Slide 19: Summarised Balance Sheet
Summarised Balance Sheet ₹ in crore As at As at As at As at Sl. Equity & Liabilities 30.09.2025 31.03.2025 Sl. Assets 30.09.2025 31.03.2025 Unaudited Audited Unaudited Audited EQUITY Non -Current Assets (a) Equity Share capital 43.7 43.7 (a) Property, Plant and Equipment 524.4 544.6 (b) Other Equity
Slide 20: Awards & Accolades
Awards & Accolades Ms. Priti A. Sureka, Executive Mr. Harsha V. Agarwal, Vice Chairman & Zandu Chyavanprash Jaggery won Director, appointed as the first Managing Director, to complete his term as Silver and Bronze awards at the 6th woman President of the the President of FICCI on 29th November e4m H
Slide 21: Thank you
2 emMmami Thank you