Emami’s Strategic Investments portfolio grew 73% on a like-to-like basis in the September quarter and contributed about 26% of domestic business, according to its Q2 FY27 update. Agarwal told Mint the company could make another consumer-brand investment within 12 months.
Emami’s Q2 FY27 update said the portfolio accounted for about 26% of domestic business in the quarter ended Sept. 30, 2026. Its like-to-like comparison includes prior-period revenue from Axiom Ayurveda and IncNut Digital. Consolidated revenue from operations reached ₹1,087.65 crore, up 36.2% from a year earlier.
The board’s results meeting had been scheduled for Nov. 5, as EconoTimes noted in its earlier coverage of Emami’s Q2 results meeting.
Among recent additions are Axiom Ayurveda Pvt. Ltd. and IncNut Digital Private Limited. Emami’s April 1, 2026, agreement set consideration of up to ₹200 crore for the remaining approximately 73.5% of Axiom. The Q2 filing said a first ₹100 crore tranche gave Emami control and that Axiom became a subsidiary effective April 1. Axiom’s products include AloFrut beverages, health juices and beauty products.
Emami’s May 7, 2026, filing set consideration of up to ₹321 crore for a 60% stake in IncNut. Its Q2 filing recorded ₹320.99 crore and said IncNut became a subsidiary effective June 1, 2026. IncNut’s subsidiary operates the Vedix and SkinKraft personal-care brands.
Agarwal cited changes in digital shopping and media as openings for consumer brands, Mint reported. He said Emami considers strategic fit and price when assessing potential deals. “We don’t want to pay extra to acquire anything,” Agarwal told Mint.
Agarwal also forecast that the portfolio’s brands would generate more than ₹800 crore in sales by the end of the financial year, Mint reported. He said another investment could come within 12 months. Emami’s Q2 materials name no target or date for a new deal.
