On a standalone basis, net profit fell 17.47% to Rs 47.25 crore on 4.31% decrease in net sales to Rs 212.20 crore in Q2 September 2021 over Q2 September 2020. EBITDA fell 21.8% to YoY Rs 50 crore. EBITDA margin stood at 23.6% in Q2 September 2021, lower than 28.9% in Q2 September 2020.

Revenue from hair oils segment fell 2.1% YoY to Rs 209.40 crore in Q2 September 2021. Volume growth for hair oils is (0.7%) and 10.2% for Q2 FY22 and H1 FY22 respectively.

The company said that wholesale declined sharply with reduced footfalls in key HSM markets. Retail performance has been good with near double-digit growth, backed by focused drives and top retailer loyalty program. In spite of demand slowdown, rural remained flat due to expansion of rural network in select states.

Modern trade registered high teen growth with resumption of modern retail outlets across the country. Lower than expected footfalls in the August Big Day events across modern trade chains. Improvements seen towards end of September and October. Hyper competitiveness by challenger brands seen in the events.

E-commerce continues to scale up Q-o-Q with doubling of business over last year currently contributing to 4% of turnover. Closer partnerships with top e-retailers, Amazon and Flipkart resulting in high growth.

In International business, UAE and Africa had a sharp decline due to travel restrictions. Nepal and Bangladesh came out of lockdown and performed well with double digit growths.

Bajaj Consumer Care, part of the Bajaj Group of Companies, is one of India's well-established companies in the beauty care category. Its flagship brand, Bajaj Almond Drops Hair Oil, is a leading name in the hair oil market. The company also owns the Nomarks Brand in India.