Questions across 4 calls

Harit Kapoor

Firm not listed in source transcripts

Colgate Palmolive (India) Limited

Colgate Palmolive (India) Limited CC-May26.pdf · 2026-05-22

Hi, good evening. So, just two questions. One was, if I look at the last couple of quarters, the pricing, the optical pricing growth was probably depressed a little bit due to higher promotional intensity as well. Would we say that this Q4 has seen the kind of real impact of the pricing initiatives that we had taken through this year? And does this also signal that to some extent; promotional intensity has been lower in Q4? And is there any kind of trend or trajectory to make of it? That's my first question.

Got it. And because I was just trying to reconcile between the higher pricing growth in Q4 versus the maybe Q2, Q3 quarters. I think one variable was that maybe promotional intensity may be a bit different. So, that was the source of my question, the second one was on this inverted duty structure bit. So, you mentioned, I think, 80 basis points for the year, if I am not wrong, and 160 basis points for the quarter. Is it fair to assume that one has to absorb this impact into the margins, even going into the FY27? Or do we believe that we can have a pricing offset against the inverted duty structure, which in turn protects the profitability?

FSN E-Commerce Ventures Limited

FSN E-Commerce Ventures Limited CC-Jun24.pdf · 2024-08-13

I just had two questions. One was on the BPC side. Yes. So my question was on the BPC side. So, if I just do a revenue minus NSV kind of quick calculation, it seems like the advertising income seems to have picked up in BPC this quarter. I might be wrong, but that's my assumption basis that calculation. And given that from here on some of the discounting-led issues, which we were speaking about last year starts to come in the base. I was just wondering, are these two likely gross margin triggers for the online BPC piece going forward over the next few quarters?

Thanks for that. I just had one more on the marketing and advertising side. So you have explained the increase in the marketing spend being driven by the intent to kind of drive new customer acquisition. Shouldn't we expect this kind of uptick to sustain on your expenses given the fact that the medium- to long-term strategy is to kind of drive revenue growth at a faster basis. Is that the right way to think about it?

United Breweries Limited

United Breweries Limited CC-Dec23.pdf · 2024-02-09

I'll limit mine to one. Just wanted to get your sense on 2 states; one, Tamil Nadu; and the second is Haryana. So in Tamil Nadu, what is the extent of kind of recovery that we've seen vis -à-vis when we did our change in the route -to-market. We're obviously seeing growth from the low basis, but in terms of recovery to original levels, where are we? And the second one was on Haryana, if you could just give us some sense on why that market is under some pressure. So those are my questions.

Yes. Thanks, Manuja. On behalf of Investec Capital, I would like to thank all th e participants who joined on this call as well as like to thank the senior management of United Breweries for giving us this opportunity. I now hand the call over to Vivek for his closing remarks.

Hindustan Unilever Limited

Hindustan Unilever Limited CC-Feb26.pdf ·

So, my first question was on margins. I just wanted to understand why we are still fairly focused on that 12.5 to 13.5 range -- implied range. This quarter, we've done 13.7 if you adjust the Labor Code, close to 14 in your calculations. Also, you have a situation where there's modest inflation. Historically, HUL or large FMCGs have done well from a profitability standpoint in modest inflation because that's when kind of pricing power kicks in. And hopefully, there is more operating leverage in revenue. So what am I missing? Is it that reinvestment rates will sharply go up as we focus on growth? Just wanted to understand your thought process here?

Yes, I was talking about EBITDA margin only, 13.7 is your number after the Labor Code adjustment.