Full Year Volume Growth: 8-10%
Management maintained guidance band for FY27 based on current demand conditions and festive quarter expectations in Q2-Q3, though second half base turns adverse.
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PBT Margin Guidance: 18-20%
Despite Q1 margin pressure from 25% material inflation, management expects to maintain margins within guided band through premiumization, cost initiatives, and backward integration benefits.
VA Emulsion Plant Commissioning: August 2026
Phase 1 of new VA (VAE) manufacturing ecosystem to kick off in August 2026, expected to deliver 300-500bps gross margin benefit for applicable product categories over 2-2.5 years to reach full 150MT capacity.
Pricing: No Further Increases Planned
Management stated ideally would not take additional price increases unless situation becomes alarming; current weighted average price increase of ~7-9% expected to continue pending product mix.
Volume growth to remain in 8-10% band
Management expects volume growth to sustain in the 8-10% range for Q4 and near term, with value growth around 5-6% due to mix shift.
EBITDA margin guidance maintained at 18-20%
Despite higher gross margins, management reiterated the 18-20% EBITDA margin band, citing competitive intensity and investments.
B2B and industrial segments to outpace retail
Management expects B2B and industrial growth to continue outpacing retail, driven by government and private capex.
No price cuts planned near term
Management stated no immediate price cuts, but will monitor raw material volatility and competitive actions.