Emami’s D2C-Led Portfolio Eyes ₹750–800 Crore Revenue in FY27

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TL;DR:

Emami is targeting ₹750–800 crore from its strategic new-age portfolio in FY27 after 61% like-for-like growth, shifting its D2C playbook towards brand building, omnichannel distribution and lower dependence on performance marketing.

Article:

Emami is targeting ₹750–800 crore in FY27 revenue from its strategic investment portfolio, as the FMCG company moves its digital-first brands beyond customer-acquisition-heavy D2C models towards broader brand building and omnichannel distribution. The shift matters because these businesses are becoming a material growth engine rather than peripheral investments.

The portfolio grew 61% like-for-like in Q1 FY27 and now accounts for 18% of Emami’s domestic business. Overall consolidated revenue rose 15% to ₹1,039 crore, while domestic revenue grew 20%. The portfolio includes newer consumer businesses spanning beauty, grooming, personalised care and health and wellness.

The larger change is in how Emami intends to create value. Chief Growth Officer Dhruv Aggarwal said the company has reoriented investment towards “content, media, less offers”, with greater emphasis on brand marketing rather than performance-led discounting. He added that the approach is intended to build the businesses for the long term.

Management also expects the portfolio’s growth momentum to hold. Asked whether the 61% expansion was sustainable, Aggarwal said, “I think you will see something similar.”

The strategy reflects a broader FMCG challenge: digital-first brands can find consumers quickly, but sustainable scale increasingly requires general trade, modern retail and quick commerce. Emami’s organised channels already contribute 32% of domestic business, while quick commerce accounts for 35% of its e-commerce business.

The next test is profitability. Management says most portfolio businesses carry gross margins above 55%, but the combined strategic portfolio is still around breakeven. Scaling revenue without rebuilding acquisition costs will determine whether Emami’s D2C push becomes a durable second growth engine.