Q2 2026 Jyothy Labs Ltd Earnings Call Transcript
Key Points
- Jyothy Labs Ltd (BOM:532926) reported a volume growth of 2.8% year-on-year for Q2 FY26, indicating resilience despite market disruptions.
- The fabric care segment showed strong performance with a value growth of 6.1% and high single-digit volume growth, driven by brands like Henko, Ujala, MoreLight, and Mr. White.
- Modern trade, e-commerce, and quick commerce channels maintained double-digit growth, highlighting the company's successful adaptation to changing consumer purchasing behaviors.
- The company has a strong cash balance of INR801 crore and zero debt, positioning it well for future growth and investment in innovation.
- Jyothy Labs Ltd (BOM:532926) is actively expanding its product portfolio with new launches such as Dr. Wool and Ujala Young & Fresh, aiming to capture niche markets and drive future growth.
- The GST rate revision in September 2025 caused significant disruptions, leading to nearly flat growth in the September quarter.
- Gross margin for Q2 FY26 was 48.1%, a decrease of 210 basis points year-on-year, primarily due to input cost pressures and price reductions.
- The personal care segment was notably impacted by the GST transition, affecting overall performance and requiring time to normalize.
- The household insecticides segment experienced muted growth, with a focus on profitability improvement expected to take four to six quarters.
- Net working capital increased to 22 days as of September 30, 2025, compared to 19 days as of March 31, 2025, due to a shift in channel mix towards modern trade and e-commerce.
Ladies and gentlemen, good day, and welcome to the Jyothy Labs Q2 FY26 earnings call hosted by ICICI Securities. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Dhiraj Mistry from ICICI Securities.
Good evening, all, and thank you, everyone, for joining this call. First of all, I would like to thank management of Jyothy Labs to give this opportunity to host this call. From the management, we have with us Madam Jyothy with us; and Mr. Pawan Agarwal, CFO.
Over to you, ma'am, for your opening commentary.
Thank you. Good evening, everyone. Thank you for joining us for Jyothy Labs Q2 FY26 earnings call. Our financial results and investor presentation are available on our website and the stock exchanges, and I hope you have had the opportunity to go through them.
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