PROCTER & GAMBLE HEALTH L

Sells vitamins, minerals and supplements in India under brands like Neurobion (B-vitamin / nerve care), Evion (Vitamin E / muscle health), Livogen (iron), and Polybion, distributed mainly through pharmacies and increasingly through e-pharmacy platforms. The portfolio is concentrated in nerve care, muscle health and iron deficiency, with recent launches in gummy and cream formats such as Livogen Iron Gummies and Neurobion Nerve Pain Relief Cream. Distribution runs on a super-distributor go-to-market model that has expanded Neurobion's pharmacy reach by 1.4x in five years, adding roughly 100,000 new stores. Exports contributed ₹50 crore (+12% YoY) with the Sri Lanka business growing 30%+. The business is asset-light (capex 1.1% of revenue), with materials being the largest cost at 21.8% of revenue, followed by employee costs at 15.8% and other operating expenses at 25.8%, and it generated operating cash flow of ₹338 crore in FY26.