Brands
Factories feel the heat but keep rolling in Q3 FY26
MUMBAI: When factory floors hum, the economy listens and India’s manufacturing units are still making noise. The latest FICCI Quarterly Survey on Manufacturing paints a picture of steady momentum in Q3 FY25–26, with confidence holding firm even as costs stay stubbornly high.
Covering eight major sectors and manufacturers with a combined turnover of over Rs 3 lakh crore, the survey finds that around 91 per cent of respondents reported higher or unchanged production in Q3, up from 87 per cent in the previous quarter. Domestic demand also stayed resilient, with 86 per cent expecting order books to be higher or stable, aided in part by recent GST rate cuts.
Capacity utilisation across manufacturing hovered at a healthy 75 per cent, signalling sustained economic activity. Metals and metal products led the pack at 79 per cent, followed closely by electronics and electricals at 78 per cent, while auto components operated at a more measured 65 per cent. Investment intentions over the next six months remained steady, though global uncertainty, geopolitics and regulatory challenges continued to temper expansion plans.
Exports offered cautious cheer. More than 70 per cent of respondents expect overseas shipments in Q3 to be higher or unchanged compared to a year ago, while inventories largely stayed in check, with 83 per cent anticipating stable or higher stock levels.
The pressure point remains costs. Nearly 57 per cent of manufacturers reported an increase in production costs as a share of sales, driven by higher raw material prices, currency depreciation, logistics expenses and power tariffs. Despite this, access to finance remained supportive, with over 87 per cent reporting adequate availability of funds and average interest rates hovering around 8.9 per cent.
On the jobs front, the mood was measured but positive. Thirty-eight per cent of respondents plan to add workers over the next three months, up from 35 per cent a year ago, even as concerns over skilled labour availability persist in select sectors.
Sectorally, electronics and electricals stood out with strong growth expectations, while most others from capital goods to textiles and auto components are bracing for moderate expansion in the 5–10 per cent range. The message from factory gates is clear: growth is holding its ground, but the path ahead calls for policy support, cost relief and sharper competitiveness to keep the wheels turning.
Brands
Bajaj Consumer Care FY26 profit rises to Rs 193.7 crore
Revenue climbs to Rs 1,092 crore as profit grows 49 per cent YoY
MUMBAI: Hair today, growth tomorrow Bajaj Consumer Care Limited seems to have found its shine again, posting a sharp jump in profitability even as it doubled down on brand spends and expansion. The company reported a net profit of Rs 193.7 crore for FY26, marking a strong 49 per cent rise from Rs 130.1 crore in FY25. Revenue from operations also grew to Rs 1,092.2 crore, up from Rs 942.8 crore a year earlier, signalling steady demand momentum across its portfolio.
For the March quarter, profit stood at Rs 64.1 crore, compared to Rs 31.5 crore in the corresponding period last year, while revenue rose to Rs 308.3 crore from Rs 243.5 crore.
The performance came despite a notable increase in spending. Advertising and sales promotion expenses climbed to Rs 168.3 crore in FY26, up from Rs 137.8 crore in FY25, reflecting continued investment in brand building. Other expenses also rose to Rs 151.3 crore from Rs 134.2 crore, indicating a broader push towards growth.
Operating efficiency, however, held firm. Profit before tax increased to Rs 234.8 crore in FY26 from Rs 157.7 crore a year earlier, supported by disciplined cost management across materials and inventory.
On the balance sheet, the company’s total assets expanded to Rs 959.1 crore as of March 31, 2026, compared to Rs 931.9 crore a year earlier. Other equity rose to Rs 780.3 crore, reinforcing a stronger financial base.
Cash flow from operations saw a significant uptick, reaching Rs 196.9 crore in FY26, nearly three times the Rs 67.9 crore recorded in FY25, highlighting improved working capital management.
However, the year also saw aggressive capital allocation. The company spent Rs 190.2 crore on share buybacks, contributing to a net cash outflow of Rs 196.5 crore from financing activities. Cash and cash equivalents stood at Rs 6.8 crore at the end of the year, down from Rs 25.6 crore.
Even as investments in subsidiaries and assets continued, the numbers suggest a company balancing growth ambitions with shareholder returns keeping one eye on expansion and the other on efficiency.
With margins improving and revenue steadily climbing, Bajaj Consumer Care appears to be combing through the competition with renewed confidence.
