1. Cosmetics & hair care margin expansion - The segment delivered revenue of ₹7,885.53 lakhs in FY25, up from ₹7,380.45 lakhs in FY24, with profit before tax rising to ₹2,488.35 lakhs from ₹1,953.23 lakhs. This is already the dominant earnings engine, and management is layering on premium products, e-commerce, and rural reach to sustain the mix shift toward higher-margin sales.
2. E-commerce channel shift - Management is investing in e-commerce and quick commerce, noting that the channel currently contributes about 8% of FMCG sales with expectations to reach 15% by 2025. A seven-percentage-point channel mix shift, if achieved, pulls the overall FMCG margin up because direct digital sales typically carry a better realisation than wholesale trade.
3. Textile export recovery via buyer diversification - India's apparel exports increased 11.3% year-on-year in May 2025 as Western buyers shifted sourcing away from China and Bangladesh, and India's textile exports are expected to reach US$ 65 billion by FY 2026. The segment was loss-making in FY25 on Gulf-market disruption, so a normalisation of order flows combined with the broader sourcing shift can swing it back to profit.
4. Government textile incentives - The PLI Scheme (₹10,683 crore allocated), MITRA Parks, and ATUFS (₹900 crore provision) are available to support textile manufacturing and exports. Accessing these incentives would lower the effective cost of any capacity or technology upgrade the company undertakes in its fabrics and garments business.
5. Premiumisation in FMCG - The company is developing and promoting premium products aimed at health-conscious and affluent consumers, with the health and wellness food market alone projected to reach ₹1.5 trillion by 2025. Premium lines typically earn higher gross margins than mass-market products, so even a modest revenue contribution can lift segment profitability.
6. Sustainability compliance as a market-access tool - The company is adopting zero-liquid discharge systems, renewable energy, and global certifications such as GOTS and OEKO-TEX in its textile segment. These certifications are increasingly a precondition for supplying European and US buyers, so compliance protects and expands the addressable export market.