P&G's Indian OTC wellness arm selling vitamin/mineral/supplement brands: Neurobion, Evion, Livogen.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 364 | +7.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 27.0 | 0.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 96.0 | +45.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 62.90 | +18.3 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 22.99 | +5.0 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 12.57 | −16.8 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Guidance
3 of 3 judged targets kept · 2 open · verdicts reflect calls analysed to Q4 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Rural and E-commerce Coverage | Increase coverage in Rural Areas and leverage e-commerce to broaden availability of the portfolio. | Q4 FY25 | Added nearly 30,000 pharmacies and HCPs in extra-urban geographies. New launch Livogen Iron Gummies ranked #1 with highest market share among iron gummies on Amazon. | Achieved |
| New Product Contribution to Growth | Ensure new product launches (Livogen Iron Gummies, Neurobion Nerve Pain Relief Cream, Evion L5000) continue or increase their contribution to growth from the current early-single digit points. | Q4 FY26 | New launches have collectively contributed early-single digit points of growth to the overall business this year, exceeding expectations. | New |
2 of P & G Health Ltd's 5 targets are still open. See which are on track and which have gone quiet. The 2 above are the free sample; 3 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹6,083.5 on 24 Oct 2025 → ₹5,056. High ₹6,918.5 (14 Jul 2026), low ₹4,778.6 (2 Apr 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
Procter & Gamble Health Limited markets over-the-counter vitamin, mineral and supplement (VMS) branded products in India, targeting conditions such as neuropathy, vitamin-E deficiency, iron deficiency and nasal congestion. It earns by selling long-established brands — Neurobion, Evion, Livogen, Seven Seas, Polybion and Nasivion — through pharmacies, e-pharmacies and general retail, backed by outreach to healthcare professionals (HCPs). Manufacturing is outsourced to third-party contract manufacturers rather than run through owned plants, making it an asset-light branded consumer-healthcare business. The company also exports select brands to international markets including Nepal and Sri Lanka.
Segments
close before → close after
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Guidance
3 of 3 judged targets kept · 2 open · verdicts reflect calls analysed to Q4 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Rural and E-commerce Coverage | Increase coverage in Rural Areas and leverage e-commerce to broaden availability of the portfolio. | Q4 FY25 | Added nearly 30,000 pharmacies and HCPs in extra-urban geographies. New launch Livogen Iron Gummies ranked #1 with highest market share among iron gummies on Amazon. | Achieved |
| New Product Contribution to Growth | Ensure new product launches (Livogen Iron Gummies, Neurobion Nerve Pain Relief Cream, Evion L5000) continue or increase their contribution to growth from the current early-single digit points. | Q4 FY26 | New launches have collectively contributed early-single digit points of growth to the overall business this year, exceeding expectations. | New |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 5 tracked commitments, with each call’s wording and source.
Call summaries
P & G Health Ltd Q4 FY26
P & G Health Ltd reported a strong fiscal year 2026, with sales growing 16% to nearly ₹1400 crore and PAT increasing 30% to ₹327 crores. This performance was driven by a robust integrated growth strategy, including successful new product launches and expanded distribution. The company emphasized its focus on superiority, productivity, and constructive disruption to sustain balanced growth.
Read the full callP & G Health Ltd Q4 FY25
P&G Health Ltd. reported strong financial performance for the 9-month fiscal year ending March 31, 2025, with sales growing 8% to ₹918 crores and PAT increasing 27% to ₹234 crores. This growth was driven by the successful execution of its Integrated Growth Strategy, focusing on product superiority, retail expansion, and productivity, which yielded over ₹40 crores in savings. The company also saw strong traction in new product launches and gained market share in key categories like Nerve Care and Vitamin E, despite a challenging macroeconomic environment.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Jun 2021 to Mar 2026).
Financials
Net profit, year on year: +45% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 313 | 310 | 311 | 339 | 325 | 374 | 370 | 364 |
| Expenses | 199 | 186 | 230 | 248 | 205 | 263 | 235 | 264 |
| Operating profit | 114 | 123 | 81 | 90 | 120 | 110 | 136 | 100 |
| Operating margin | 36.0% | 40.0% | 26.0% | 27.0% | 37.0% | 30.0% | 37.0% | 27.0% |
| Other income | 3 | 4 | 3 | 4 | 5 | 4 | 4 | 36 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 6 | 6 | 5 | 5 | 6 | 6 | 6 | 6 |
| Profit before tax | 111 | 122 | 79 | 89 | 119 | 109 | 133 | 129 |
| Tax rate | 26.0% | 25.0% | 22.0% | 25.0% | 26.0% | 29.0% | 29.0% | 26.0% |
| Net profit | 82 | 91 | 61 | 66 | 89 | 78 | 95 | 96 |
| EPS (₹ per share) | 49.60 | 54.76 | 36.86 | 39.87 | 53.34 | 46.74 | 56.99 | 57.92 |
| Line item | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|
| Sales | 1,230 | 1,151 | 1,273 | 1,433 |
| Expenses | 905 | 845 | 863 | 967 |
| Operating profit | 325 | 306 | 408 | 466 |
| Other income | 18 | -5 | 14 | 49 |
| Interest | 0 | 0 | 0 | 0 |
| Depreciation | 27 | 27 | 22 | 24 |
| Profit before tax | 315 | 274 | 401 | 490 |
| Net profit | 230 | 202 | 300 | 358 |
| Line item | Jun 2022 | Jun 2023 | Jun 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 17 | 17 | 17 | 17 | 17 | 17 |
| Reserves | 600 | 734 | 522 | 520 | 603 | 508 |
| Borrowings | 3 | 12 | 10 | 8 | 6 | 9 |
| Other liabilities | 269 | 338 | 247 | 250 | 268 | 308 |
| Total liabilities | 888 | 1,101 | 794 | 794 | 894 | 841 |
| Fixed assets | 112 | 144 | 128 | 116 | 106 | 102 |
| Capital work in progress | 41 | 32 | 6 | 11 | 13 | 14 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 736 | 925 | 660 | 667 | 776 | 726 |
| Total assets | 888 | 1,101 | 794 | 794 | 894 | 841 |
| Line item | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 247 | 170 | 236 | 228 | 169 | 338 |
| Cash from investing | -32 | -26 | -22 | -7 | 10 | 1 |
| Cash from financing | -387 | -289 | -98 | -418 | -235 | -344 |
| Net cash flow | -172 | -145 | 116 | -197 | -56 | -5 |
| Free cash flow | 196 | 132 | 198 | 207 | 168 | 323 |
| Line item | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 22 | 27 | 34 | 27 | 57 | 43 |
| Inventory days | 138 | 124 | 136 | 120 | 152 | 137 |
| Days payable | 209 | 185 | 239 | 184 | 239 | 192 |
| Cash conversion cycle | -49 | -34 | -69 | -37 | -30 | -13 |
| Working capital days | 7 | 17 | 15 | 19 | 48 | 30 |
| Return on capital employed | 29.0% | 38.0% | 45.0% | 45.0% | 48.0% | 84.0% |
| Dividend payout | 122.0% | 45.0% | 69.0% | 215.0% | — | 104.0% |
To justify its price of ₹5056, this stock must grow earnings at 18% every year for 7 years. Our analysis caps realistic growth at ~11%. At that growth it is worth ₹3489 — downside of 31%.
Ownership
Promoters hold 51.82% as of Sept 2026; institutions added 0.29 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of P & G Health Ltd above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 51.82% | unchanged | |
| Mutual fund | 4.18% | unchanged |
| Insurer | 1.87% | unchanged |
| Mutual fund | 1.45% | −0.24 pp |
| 1.22% | newly disclosed | |
| Mutual fund | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Filings to Sep 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹386 Cr | held | Jul '20 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Sep 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
Shares held by these funds −26%
Oct '23 6.95 L shares Sep '26
Your own record
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