Two questions from my side. In the quarter, we saw gross margins decline marginally. Industry trends suggest that the discounting is actually reducing and you have also done that. You can see that in the channel checks. So, what is leading to this gross margin decline?
So, if you can highlight in Lifestyle, what is the gross margin expansion we are witnessing due to lower discounting and which business is actually dragging the gross margin down from the mixed perspective?
Sir, my first question is on the manufacturing cost. If you look, the volumes have been low in the quarter. So did we get some benefit out of that, given that the manpower cost would have been low, apart from the efficiency gains you are talking of? And by the end of the quarter, if the volume increases, say, by the end of the year, will we get leverage on that front or it will be in line to the sales or volume growth?
Sure. And, sir, from the Odisha plant, we had some benefits from the state government. While we had filed it today, did we see some benefit of that also flowing? Because on the manpower front, we have some thousand manpower out there. So I do not think we are running at even half the capacity today. So how do we see that ramp-up coming in? And if the volume growth is say to a little bit high single -digit, when do you think the full capacity utilization of Odisha can happen? Given that we have set ourselves an Rs. 8,000 crore target, and this is a new plant, and another plant is expected to come in a year’s time. So can both the plants be absorbed for the Rs. 8,000 crores of target you have set yourself or is these two plants for very long term in the future?
Sir, two questions from my side. First is on EBO. If I look at first half, our EBO addition is single digit. Is it fair to assume second half 150 EBOs are expected to be opened?
Sure. And my second question is on the Odisha facility. So given that in Q4 facility is expected to start, will we see inventory increase in Q4 by end of Q4? Or we will remain at this optimal inventory, which we have seen in September?
Sir my first question is, regarding the consumer movement from economy to your products, previously the Lux,Rupa, Dollar consumers used to migrate to, Jockey at least Modern Classic. Do you think now, with Zudio coming in and having a good inventory of men's and women's wear, our customers have got more choice now. And instead of moving towards J ockey or Modern Classic of J ockey, at least a young audienc e is first trying Zudio and then seeing the movement there, because they also have now 550, 600 stores today.
Sure. Sir my second question is regarding the accessories portfolio, our check suggests that you have really invested a lot of the sales force in the accessories part of the business. Can you just throw, help us understand over the next two years which all category extensions are you doing in accessories a nd what could be the revenue contribution coming in from the accessories portfolio now?
So, my first question is on the inventory. You're now introducing more of the Power products in the stores, which could be at a higher ASP. Two, we are reducing inventory in those stores of other products, which 2 years back was not there. Apparel was not there 2 years back in the store. So, what kind of the inventory are we reducing in the stores? So, I understand that clutter getting reduced. But what are these new products replacing in the store?
And sir, in a lean demand environment, what we have seen in last 3 or 4 quarters, if the demand doesn't play out, do we see higher discounting? How does the supply chain at the back-end work given that you're more sharper in the inventory?
Thank you. So my first question is on the KRO counters, they are less than one per town, which seems a very odd number. So can you define how do you define this KRO in terms of revenue per counter and what could be the opportunity size in terms of say two, three per city or per town? So over the next two years, you would want to leverage these key retail outlets?
And sir, when you say when the demand comes back, you could take a reverse price action, typically for the MBO market, this 15% revenue contribution from IND over the next three years, where do you see this contribution go if the town coverage, KRO count, everything falls in place right for you?
Sir, two questions from my side. First is on the realization , have we tinkered with the pricing in the quarter? It is just that the mix towards lab grown has got the realization down across the board?
Sure. My second question is, one side you mentioned that the growth to extended holiday because they wanted to control supply and maintain pricing , while at the same time you said over six months the prices have stabilized. So why did they take extended holiday in November if the prices have stabilized since last six months and they wanted to control supply?
First question is regarding the discounting. What's changed in the market in this quarter that the discounting was lower? Last quarter, we had early EOSS as well in December. Is that the reason why? Or we are seeing online channel the discounting reduced with AJIO, Flipkart, others moving towards profitability and hence lower discounting?
Sure. And sir, this year, are you looking at early EOSS in this season also? Or the inventory for the industry is healthy now and even going forward, for the season, the EOSS will be muted and discounting could be there?