Emami expects business to pick up sharply in the second half of the current fiscal year 2025-26 (FY26) after a challenging first half impacted by the goods and services tax (GST) rate changes and weak summer sales, according to NH Bhansali, CEO–Finance, Strategy, Business Development and CFO of the company.

“The second quarter witnessed many challenges,” Bhansali said, adding that while GST reform is a positive step for the economy, the transition affected trade dynamics. “88% of our turnover was impacted because of the GST rate reduction. Distributors wanted to clear high-cost inventory first, which temporarily affected our sales.”

He said the disruptions also delayed the usual stocking of winter products, which typically happens by the end of September. However, Bhansali noted that th

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