Questions across 4 calls

Avnish Roy

Nuvama

Godrej Consumer Products Limited

Godrej Consumer Products Limited CC-May26.pdf · 2026-05-06

Yes. Thanks. T wo questions. My first question is on Muuchstac and your other recent acquisition, essentially in terms of the Raymond, what is the update and going ahead in terms of outlook, how do you see that given these two scenarios you mentioned in terms of West Asia impact on the, say, the cost inflation and s ay the summer, which is likely to be on the stronger side for these 2 businesses, how do you see that in terms of the outlook?

Understood. My second question is on soaps . In Q4, Sudhir, we have seen that in most of the FMCG categories, GST has had some benefits. I do understand in soaps local players is not a very big number. But if you could tell us from a compliance side, at least, is there some improvement because at least at 5% the degree of bypassing the system is much lower. So are you seeing some evidence of that, it may not translate to number as yet. And your optimism on soup volume recovery, say, in Q1, Q2 based on say, El Nino, et c. Is that the main reason? Or because of inflationary conditions, you and say the market leader will gain market share? Is that the main reason?

Zydus Wellness Limited

Zydus Wellness Limited CC-Sep24.pdf · 2024-11-11

Congrats on good revenue growth. My first question is on Complan. So you have seen good penetration growth for 3 successive years. If you could comment on specific growth numbers Y-o-Y revenue terms. Now milk, which is the key requirement in terms of adding this has also seen a lot of stability and impact many markets correction also. So would you say that in terms of outlook, in terms of growth, where things could improve a bit and what is your sense on growth of market, because the market where leader continues to struggle here. So what will be your take on the overall growth for the industry in this market?

Sir, last question, again, 26% growth in Personal Care is a good number. So is there any one-off here? And in terms of the urban slowdown, which I think every company is mentioning, which categories will be most worried on in terms of the H2 in terms of urban slowdown impact?

United Breweries Limited

United Breweries Limited CC-Sep24.pdf · 2024-10-25

So congrats on good premium growth and in the current slowdown. My first question is in Q2, there was heavy rains in large parts of the country, including your key markets. And we have seen beverages, non -alcoholic beverages see significant impact. So, when you analyse data of your consumption centers and here, we are analysing for states where there is no big change, right? If Bengal, there is a substantial change, let us remove that. So, are you seeing that big cities, the slowdown is more versus the smaller cities? Second, wherever, say, the rains impacted pubs and bars travel or out-of-home travel, there is the slowdown a bit more versus where the pub and bar culture is less or maybe the flooding was less?

So, thanks. My second and last question will be on the slide where you have given total volume and premium volume. So, one year back, difference between total volume and premium volume growth rate used to be 3% and then it became 6%. But last two quarters, it has been much, much higher. It is volatile. Q1, it was 39% difference. In Q2, it is more like 22% difference, but still an extremely healthy difference. So, it has been now one year slightly higher than that you have taken over. So, what exactly is working here? Because you have done multiple things here. You have done new fresh bottle percentage much higher. You have obviously focused much more on pubs and bars and on premises advertising and presence. And of course, in terms of the stores also Visi cooler and all that. So, if you could tell us, which has been the most successful and most dear to you. And second, where is the past in the Analyst meet, you did cover on the Visi cooler tone. That is not my question. But in terms of competing with the top two players in the premium, where they are bigger than you in that, where is the bigger gap currently?

AWL Agri Business Limited

AWL Agri Business Limited CC-Jun24.pdf · 2024-07-30

My first question is on the EBITDA margin. I wanted to understand , is there any one off here (+4%) EBITDA margin and FY 24, I understand was very tough because of sharp inflation followed by sharp deflation and then a lot of inventory impact losses were th ere. So, are there any learning, have you changed your hedging policy in any way , your inventory overall any change there, which has led to some incremental profits here so, if we assume this kind of a pricing in terms of the edible oil, would you expect (+4%) margins to sustain if nothing changes, I understand that this is a real world and the geopolitical issue can always keep changing, but anyone offs here and any comments if you can give.

Sure. My second question is on some of the competitive intensity from new players. So, if I see Amul they are advertising a lot on the print media and out-of-home also in Mumbai at least in terms of their organic products. So, two questions here, would you also have a thought process on India specific organic products because a lot of organic products are available which are of suspect quality also, of course Amul would address that part. And second is, Amul’s pricing of course will be premium given its organic, but what will be the impact on your business if you could tell us that from a longer term perspective?