How Bajaj Consumer Care is defying an FMCG slowdown
Low-entry price points, a revamped direct distribution setup, and portfolio diversification are driving over 25% revenue growth for the hair oil maker even as sector peers grapple with muted volumes.
Low-entry price points, a revamped direct distribution setup, and portfolio diversification are driving over 25% revenue growth for the hair oil maker even as sector peers grapple with muted volumes.
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Mumbai: While the broader FMCG industry struggles with high input costs and muted volume growth, Bajaj Consumer Care Ltd is pulling ahead of its peers. The maker of Bajaj Almond Drops hair oil posted over 25% revenue growth for four straight quarters, including the September quarter of FY27. Its shares have rallied nearly 63% year to date against an 18% decline in the Nifty FMCG index, highlighting a sharp performance disconnect. Even with this rally, the stock trades at a price-to-earnings (P/E) multiple of 23.28, a discount to the Nifty FMCG index's valuation of 30.87. To be clear, with a market capitalization of ₹5,635 crore, the company is not part of the Nifty FMCG index.
About the Author
Neethi Lisa Rojan
Neethi Lisa Rojan is a senior correspondent focusing on the consumer goods and retail sector working from Mumbai for Mint since 2026. She has been a journalist for a little over two years with Moneycontrol and The Morning Context. She has covered the consumer and healthcare sectors in earlier roles. She was a double gold medallist during her bachelor’s from Mahatma Gandhi University Kerala and post-graduation from Pondicherry University. With a background in commerce and journalism, she brings a sharp analytical lens to stories on India’s fast-evolving consumer goods and retail sector.<br><br>With an academic background in business administration and a keen eye for financial statement analysis, she bridges the gap between corporate data and compelling narrative journalism. Her reporting is characterized by a focus on how evolving consumer behaviours and regulatory changes impact India's largest mass-market brands. She is a keen learner with diplomas in international business, human rights and journalism. She specialized in business journalism at the Asian College of Journalism, Chennai. When she is not looking into shopping carts, you can find her explaining the latest conspiracy theory.
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