Sir, my first question is with regards to a comment in the annual report, you have mentioned that you target to be a 1 billion USD revenue company by FY 26. Now going by the current trends, do you still think that target is achievable, or there is some postponement to that particular target?
So, any sense that you can give well , as per your internal targets, when do you think you can achieve this mark, or at least the best possibility by which this mark can be achieved?
Sir, my question again is with regards to Saurabh's earlier question only because you know, earlier when you used to subtract the Pizza Hut, the KFC and all the other numbers, and you can derive the other domestic brand contribution numbers, the run rate used to be Rs. 3 to 4 crore, 5 crore, and this time around its 12 crore. So , I am guessing the eliminations would have been existing earlier as well. So, on the other way round, can this Rs. 12-crore number be su stainable number going ahead? That's the question.
And sir, the other question , even as you said that if we total up India, the international business, that will not actually equate to the con solidated business. So , is it the adjustment for the Forex loss that is reflecting in the international business and that is why the difference is there?
My question one is with regards to the slowdown that you're seeing in the overall ADS numbers. Would you allude it more this on the pricing of the value format or it is largely due to the reduction in the transaction size across performance?
Sure. And Manish, with regards to the Pizza Hut performance, your margin performance has been much better versus the other peers that you have in the country and they alluded for higher marketing spends during the quarter. So have you not been mandated by Yum to do similar marketing spends? And how do you look at the margin trajectory for the brand going ahead?
Thank you for the opportunity, sir. Congrats on a good set of numbers. Sir, my first question is actually a clarification. You said you opened five Kalyan stores in the month of July and you expect to open 35 more showrooms before the quarter end. Did I hear that right?
35 before Diwali, okay. And Candere, how many have you opened in July and how many more are expected going ahead?
Congratulations on the great set of numbers. I mean your margin expansion has been also heartful in the challenging times. So my first question is with regards to actually the debt reduction. I mean, though we look at a net debt basis, the debt has come down only by around INR 250-odd crores in that sense. And we have received around INR 130-odd crores or I would say, net INR 100 crores from the sale of planes itself. So what explains that the lower debt reduction in that sense?
Okay. So sir, one related question, I mean to this part only. So, if you look at the inventory -- absolute inventory increase also, I mean, given that we have now moved to the franchise model, ideally shouldn't be the absolute inventory amount be much lower versus the sharp increase that we have seen Y-o-Y of around INR 1,200-odd crores.
Sir, first question is with regards to Q4, how are you seeing the trends emerging in Q4? The first month is completed, so one on that. And second on the store expansion plans for Q4 specifically, I mean what kind of store expansion plans do you have for Q4 and the year end?
And sir, my question also again is with regards to that guarantee part, the guaranteed thing, if you can explain it a bit better because it was a bit confusing, it wasn't very clear?
Sir, my first question is with regards to the store expansion. Now, given that we have also upped our guidance in terms of the store expansion to 80 stores in the next year. So, if you can highlight which regions, are we getting these stores open? And the related question is what is the potential number that we expect to reach in terms of these stores in the next 5 years? And the third related to this is, these franchise partners that we are opening the stores with are these existing franchise partners or we are also adding the new franchise partners?
Yes, the third was with regards to the store potential. So, we are already reaching with these 80 stores odd, they will be crossing the 250 odd mark number in India itself. So, just wanted to understand the potential in terms of stores in the next 5 years for you?
My first question is with regards to tax rate. If you look at the tax rate, it has been around 15%, I think last quarter was around 14% odd. And I think we have a guidance of around 10% tax rate for the next 2 years. So how -- is there any modification of tax rate is going up?
And that will be a similar number for the next year result, sir?
I congratulate you on a resilient margin performance in a difficult time. My first question is with regards to the gap between the SSSG growth and the ADS growth in the Pizza Hut segment. Now that gap seems to be narrowing. And this seems to be also narrow ing because of the store -- the muted store opening that we see. So in that context, how should we looking ahead, given the fact that the SSSGs are still negative and we might expect a muted store opening for the year? How do you look at this metric going ahead?
Sure, sir, just a follow-up on the marketing bit. As you've already mentioned that it is elevated. So can we expect this to elevate further the marketing spend as we approach the festive season or at least it is expected to remain at this current level?
Thank you for the opportunity and congratulations on the strong set of results. Sir, my first question is with regards to the price hike that you have mentioned of 0.7% to 0.8% in Q1. So is it because of the reduction in the trade seeds, or is it you have taken an incremental price hike?
And there is an additional trade-in reduction as well in addition to that, right?
So, the question is with regards to the target of the 13%-15% volume growth. If you can help us dissect, how are you looking to target the volume growth within these various categories? So, for example, what will be your target for volume growth in the Ethnic part of the business and what would be in the Western Snack and the Package Sweets part of?
What about the Packaged sweets? I think package sweets which was also one area for you and there were talks about the democratization of these sweets into smaller packs, so that the reach increases. So, any update on that front?
Thank you for the opportunity, sir. So my first question is with regards to the margin guidance that you have given 13%. I'm assuming that is X of PLI, the 13% margin guidance?
Yes. So I mean, the full year guidance is 13 %. So that is 13 % and the PLI would be over and above that?
Thank you for the opportunity, Sir, and congrats on the good margins. My first question is with regards to the clarification, the audio was not clear. You said the ethnic snacks margin are 26% to 28% and what are the margins for the western snacks?
So, you said festival packs are 26% to 28% margin?
My first question is with regards to the focus now on both the profitability as well as maintaining the balance sheet now, we c an very well see that the working capital in the standalone balance sheet has also come down sharply. So just want to know your view in terms of the prioritizing between profitability and growth, which one we'll be choosing between the two. And in that context, what would be the margin guidance going ahead, given that is the margin that we have done in this particular year across formats, would that -- could that be considered as the bottom and then margins could go from here on?
Thank you for the elaborate explanation on this. My next question is with regards to the Innerwear business. Given one, if you can highlight what could be the possible growth for the Innerwear segment as a whole for FY '24? And B, in terms of profitability, where are we at? Is it still EBITDA breakeven or we are making losses in this particular segment?
Thank you. This is a my question you know again follow up to the previous question that you know why we see please speak.
Yes so is this better, can you hear me now?
Yes. Sir, my question is with regards to the sharp margin expansion in Q2. These margins were in the -- ex of the bullion were around 14 -odd percent. So what really explains this sharp expansion Q-o-Q? And what would be the guidance in the light of the margin that we have seen in the Q2 for the full year?
Sure, sir. So sir, in that light, what could be the possibly margin guidance or the guidance for the full year? What band would you now say would be achievable for the full year basis?