Pidilite Industries Limited CC-Feb26.pdf · 2026-02-04
Two questions. First, on the growth side, I mean, while it is tremendous performance versus other consumer companies for last many quarters, just one curiosity, as you are increasing or reinvesting your gross margin benefit into, say, A&SP and other retail activities also, I am sure that you are doing, why is it so that the volume growth is, say, around 9% or 10%? Shouldn't it go up if you are spending more on, say, ATL, BTL? And if that is not the case, is it not better to, say, increase the gross margin if it is not yielding the incremental volume growth? So that is first question.
Understood. Just one follow-up on this. So you see as an effort of all these, I mean, say, A&SP or branding activity, volume growth can go up from here also, say, in next two, three quarters. I am not saying next quarter or this is an optimal level. That is one follow-up. And just second question, broadly from the medium-term perspective, you have given breakup of all the brands which are under core growth and pioneer? I mean many of these growth categories were, say, probably a couple of years back, were in the pioneer category and have moved up to growth. Do you think you have enough levers or enough funnel in this pioneer or the strength in the growth categories, which can continue to give double-digit kind of volume growth just from, say, next 2 years' perspective?