Yes. I just wanted to know the like -for-like growth if you remove Reginald from sales as well as EBITDA. I mean how would the core business growth look on that -- on sales and EBITDA for the quarter?
Okay. And this 21% you are removing the Flipkart impact also, right?
I have two questions. One is, obviously, if you can give some flavour on profitability trends in TDC, how is it shaping up? I think we had once spoken about that trend breaking even with now gaining scale, is it set more into positive trajectory? And second on the A &P spend, I think for the full year, the A&P spend were close to 34-odd percent. First quarter, we have started at 36- odd percent. So is there a seasonality that first quarter is high on A &P spend? And how do you see A&P spend as a percentage to sales for the full year?
And do you see some efficiencies coming on A&P spend in FY'25 or you think the competitive intensity is high enough that you might not see efficiencies in A &P, but you will extract more efficiencies on staff costs and other expenditures?
Yes, hi sir, congrats on great set of numbers. Firstly, while you did allude to vodka segment and P&A segment being seeing a strong growth, how should one look at the realization growths here, because obviously the luxury portfolio is also growing pretty fast, do you see this realization growth of low single digits that we saw in FY26 for P&A, can that also increase? And secondly, how do you look at the regular segment growth on a steady state basis?
That is a volume growth? 11 | P a g e Q4 FY2026 Earnings Call Transcript
Hi, sir. My first question is on the recently acquired Hazelnut Company. How do you see sales growth panning out for this entity in FY ’26-’27? And, what is the kind of CAPEX that you would look at in FY ’26-’27?
Rs. 45 Crores to Rs. 50 Crores?
Sir, just one book keeping question. One, can you let me know what will be the PLI benefit for the full year?
INR 60 crores, right?
If you could give us some context on your plans for the frozen business, what is the status there, how are we looking at it from FY25 and FY26 perspective, and how are the margins in this frozen portfolio?
Secondly, I think Percy did ask this question, but on the gross margin side, we have closed the full year 32.5% ex of PLI and 4Q was around 33%-odd and you are saying 2% to 4% kind of price hike, you think with that kind of price hike and current RM environment, you should be able to sustain this gross margin level?
Hi, good afternoon, sir, and congratulations on a great set of numbers. So, first question, obviously, is on scholastic stationary. If you could just bifurcate this 9% kind of growth that we have seen in the quarter, if you could give some flavour on the sub -segments within this scholastic stationary. So, how is pencil done? If you could then give some flavour on that. And how do you see this scholastic stationary and scholastic art materials going forward? These are two large categories for you. How do you see FY '25 for these two categories? And what would be the drivers apart from capacity additions?
Okay. And some idea on how, obviously, how exports have panned out, and I understand, I think last quarter also, because of demand weakness in the international market, export growth was relatively lower. So, how has that done in 4Q? How do you see exports, both to FILA as well as your own brand, going ahead in FY '25?
Thank you, team, for taking my question and congratulations for the great set of numbers. So, my first question is on the distribution side, if you can give some flavor as to how has distribution increased versus what you ended on FY23? And how do you look at it going forward over next two to three years in terms of your outlet reach? That's the first question. Second question is on the regional mix. If you can give some flavor, how much of your revenues are coming from North and West market and how much is coming from South and East? And what is the strategy to drive growth more in South? My understanding is that we are under leveraged or under indexed in South versus our North and West market. So, if you could address these two questions.
Sure. And any guidance on where this distribution can go over the next two to three years in terms of the outlets which you mentioned?