Stockrabit · Analysts
Questions across 3 calls

Amnish Aggarwal

Prabhudas Lilladher

Britannia Industries Limited

Britannia Industries Limited CC-Dec23.pdf · 2024-02-07
A couple of questions.
Yes, yes. Sir, my question is regarding the margin outlook. For example, in 3Q, we had a very high base in terms of PLI inflows, but still our gross margins were intact, which means that we actually expanded our margin during this quarter. Now going into fourth quarter where we have one time, you can say, PLI arrears and our gross margins are upward of 44%. So what is the medium term outlook. Like you said that 19% is your aspirational level? So should we expect the margins to moderate in 4Q and going forward in, say, year FY '25?