P & G Health Ltd

Procter & Gamble Health Limited delivered a strong fiscal year, with sales reaching close to ₹1400 crore, representing a 16% increase over the comparable 12-month period. Profit after tax (PAT) also saw significant growth, increasing by 30% to ₹327 crores. Over the past five years, the company has achieved an average profit growth of 13% and seen its return on equity increase by 42%, demonstrating consistent value creation.

The company's robust performance is attributed to its integrated growth strategy, which focuses on a portfolio of quality, trusted consumer healthcare products, superiority across product and brand communication, productivity to enable results, constructive disruption, and an engaged organization. This strategy has been foundational for balanced growth and value creation over the last five years, with absolute sales growing 1.4X and profit 1.8X during this period of transformation.

P&G Health launched a strong suite of product innovations in FY26, including Livogen Iron Gummies for iron supplementation, Neurobion Nerve Pain Relief Cream for nerve pain relief, and Evion L5000 for Non-Alcoholic Fatty Liver Disease. These innovations are science-backed and address unmet consumer needs, contributing early-single digit points of growth to the overall business and exceeding expectations. Livogen Iron Gummies, for instance, achieved the highest category share on Amazon in its segment.

The company significantly improved its market penetration through changes in its Go-to-Market (GTM) model, expanding coverage to thousands of pharmacies. This included adding nearly 30,000 pharmacies and Healthcare Professionals (HCPs) to its overall coverage, particularly in extra-urban white space geographies. This enhanced penetration and availability are critical for ensuring superior products reach consumers across diverse touchpoints, including e-pharmacies and traditional retail.

P&G Health achieved a substantial profit margin expansion over the past five years, with gross profit margin improving significantly in FY26. This was primarily driven by a combination of productivity initiatives, favorable product mix, and strategic pricing within regulatory limits. The company delivered ₹35 crores in savings through targeted productivity programs in the last fiscal year, reinforcing productivity as a core strategic choice that fuels reinvestment in superiority.

The exports business showed encouraging growth in FY26, reflecting the strength of the company's supply chain and manufacturing capabilities. Notably, Nepal experienced 3X growth, and Sri Lanka saw high single-digit growth. This performance was bolstered by new product launches such as Neurobion Forte and Evion Forte in these markets, indicating significant growth prospects for the international segment.

The Vitamin Mineral & Supplement (VMS) category in India is experiencing encouraging growth, driven by increasing health awareness and a shift towards preventive healthcare. P&G Health's VMS portfolio, including brands like Neurobion, Evion, Livogen, Seven Seas, and Polybion, is well-positioned to address holistic health needs. The company views GLP-1 treatments as complementary, as VMS products provide essential nutritional foundations, supporting overall health alongside medical treatments rather than being competitive.