Bajaj Consumer Sets Ambitious ₹500 Crore Growth Target for Expansion of Key Brands

Bajaj Consumer Care Aims to Scale Up "Growth Portfolio" to ₹500 Crore Over Next Three Years

Mumbai: Bajaj Consumer Care Ltd is targeting a significant expansion of its "growth portfolio" to ₹500 crore over the next three years, even as input cost pressures rise. The company's management has emphasized a sharper push beyond its flagship Almond Drops hair oil brand, with growth expected to be driven by its existing brands rather than any future acquisitions.

The growth portfolio, which currently contributes about ₹225 crore in annual revenue, comprises coconut oil, henna, gulab jal, amla oil, and hair masques sold under brands like Natyv Soul and Banjara's. Within this portfolio, Bajaj Coconut and Bajaj Banjara's have been identified as key brands, with Banjara's delivering double-digit growth and low-teen margins in its first year under Bajaj's ownership.

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Despite the company's growth ambitions, a rise in input costs has complicated the operating environment. Bajaj Consumer Care's managing director, Naveen Pandey, noted that nearly 100% of its cost base is under inflation, with intensity varying from 20 to 50% across categories. The company has also flagged the rise in plastic packaging costs due to the Gulf war and the prices of key inputs such as mustard and copra oil not softening as anticipated.

To mitigate these headwinds, Bajaj Consumer Care has implemented calibrated price hikes alongside cost optimization measures. The company's net profit more than doubled to ₹63.6 crore in Q4FY26, while revenue from operations rose 30.4% year-on-year to ₹326.65 crore. Ebitda surged 135% to ₹77 crore, translating into a consolidated Ebitda margin of 23.7% in the quarter.

Investor sentiment has remained buoyant, with the stock rallying over 170% in the past year on the National Stock Exchange (NSE). Pandey's appointment in July also triggered a sharp rally, with shares jumping 20% in a single day. The shares closed at ₹474 on Friday, up 10.5% on the NSE.

The company has seen a few top-level leadership changes over the last 12-18 months, including the appointment of a new chief marketing officer and a new head of strategy. The board appointed Aditya Singh as the new chief marketing officer, effective 22 December 2025. The company also named Abhishek Bhattacharya as head - international business (ROW, MEA & Nepal) from 1 March 2026.

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Earlier this week, the NCLT's Jaipur bench approved the merger of Vishal Personal Care with Bajaj Consumer Care. The acquisition is expected to deepen the company's presence in southern markets. Vishal Personal Care owns Banjara's brand in the hair and skin care segment. Banjara's is a popular Indian herbal beauty and personal care brand based in Hyderabad.

Analysts note the improvement in performance under the new management. "Operating performance has improved, driven by better execution, improved mix, and benefits from GST rate rationalization," analysts at Nuvama Institutional Equities noted in a March report.