• Domestic growth trends: India like-for-like growth was 2.5% to 3%, with the non-seasonal portfolio growing 16% to 17% while the seasonal business fell 9.5% in the fourth quarter and 18% over the full year. Management expects seasonal brands to recover going forward due to the heatwave and a lower base from last year.
• Comfort Click integration: The acquisition posted 27% to 28% constant-currency growth (over 31% including currency tailwinds) and is exploring cross-selling Indian nutrition products to Europe. The ₹2,800 crore acquisition debt was converted from pound to euro denomination, lowering interest costs and naturally hedging against euro earnings.
• Category growth performance: Skin and hair care revenue rose more than 39% in the fourth quarter and 21% to 22% for the full year, while food and nutrition grew roughly 10% in the quarter and 15.5% over the year. International operations expanded by 31% to 32% during the quarter.
• RiteBite portfolio scaling: The RiteBite business has more than doubled in size since its acquisition, when it was generating approximately ₹130 crore in FY24. Management continues to target double-digit growth across its core categories over the medium term.