| Results date | November 12, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 891.46 Cr |
| Previous quarter PAT | Rs. 126.27 Cr |
| Market cap | Rs. 22,664.09 Cr |
| CMP | Rs. 6,982.0 |
The board of Procter & Gamble Hygiene and Health Care Limited meets on Thursday, November 12, 2026, to approve the unaudited financial results for the quarter and half year ended September 30, 2026, under Regulation 29 of SEBI LODR, 2015.
For FY26, the company paid an interim dividend of Rs. 195 per share (including a one-time special dividend of Rs. 25) on February 26, 2026, and recommended a final dividend of Rs. 60 per share, taking the aggregate to Rs. 255 per share. The record date was September 1, 2026, with payment on or before October 6, 2026; total dividend paid during the year was Rs. 844 Cr.
The dominant question for this quarter is margin: the Indian crude basket averaged $102.11/bbl in September versus $82.04 in July, Brent crossed $108 on September 11 and was up more than 70% in 2026, and management has already said crude and resin prices have gone up 30-50% with cost and availability both very volatile.
The demand backdrop offers little cushion, with FMCG volume growth decelerating to 3.6% in Jul-Sep 2026 from 4.7% a year ago and urban volumes at 3.5%, though value growth of 8.6% suggests pricing actions were available and PGHH enters the quarter off a Q1 where revenue fell 4.86% YoY. Q1 also showed the cost pass-through lag clearly, with EBITDA margin down 933 bps on a 12.7% YoY rise in gross material cost, and the A&P step-up of 21.23% YoY to Rs. 8,332 Lakh adds to the squeeze if sustained.
One genuine tailwind is seasonal: cough and cold medicines rebounded through the monsoon with antihistamines at a four-year high of 5 crore units, which plays directly to Vicks. Management's only near-term marker remains that it anticipates some challenges to continue, and the call is likely to cover the margin bridge against the FY26 claim of structural margins improving by 1 point, the productivity run-rate versus the Rs. 86 crores delivered last year, and the first results framed by new CFO Srividya Srinivasan.
Q2 commodity impact and pricing actions: Crude and resin inflation was the swing factor last quarter and escalated further through July-September.
Margin trajectory vs the 'Improve Margins' algorithm: FY26 saw structural margins improve by 1 point, but Q1 FY27's derived PAT margin of 14.16% was down 6.34 pp YoY.
A&P investment levels: Advertising and promotional spend stepped up sharply in Q1.
Whisper Period Pants momentum and fem care innovation pipeline: The period-pants business is the company's flagship growth story, and analysts have pressed on new-age innovation.
Guidance tracking, new CFO framing and Gillette RPT utilisation: All stated targets are open-ended, and this is the first results season under new finance leadership.
Management said crude prices have gone up 30-50% and resin prices similarly, with cost and availability both very volatile due to the conflict. Q1 FY27's PAT decline of 34.26% YoY was attributed by the company to commodity cost fluctuations from geopolitical uncertainties.
On the Q4 FY26 call, management said it improved structural margins by 1 point in the year, driven by innovation in premium segments enabling consumers to trade up. However, Q1 FY27's derived PAT margin of 14.16% was down 6.34 pp YoY.
Asked about volume recovery, premiumisation, market share gains, pricing and operating leverage, management said all levers are important but sustained growth ultimately depends on the ability to win with consumers. It described the current period as a deliberate phase of investing behind understanding consumers and innovating for them.
No. On September 23, 2026, responding to a material price movement, the company denied rumours of potential delisting and/or winding up of operations as baseless.
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