Mihir P Shah

So, my first question is on the Tea landscape in India. I believe that in this quarter also there is a price cut that was effective along with the market leader who had also taken a price cut and now we are seeing tea price s shooting up. How should one read the tea prices shooting up as your low price commodity would have been exhausted in this quarter and maybe higher tea prices can start impacting margins?

I understand completely. So, second, I wanted to check on the international business. Coffee prices, again, they have shot up. We are seeing pressure on volumes once again on coffee prices. However, I believe given the change in dynamic s that have happened with Hindustan Unilever globally in the Tea, you are being a key beneficiary of Tea. And that is why we are seeing good growth in Tea coming.

Just a few clarifications. First, post the divestment of the ice cream business, what can be considered as the margin guidance range? It used to be 22% to 23%. So , should one expect it to inch up further or are you holding on to that range still?

Sorry, so it should be 22.5% to 23.5%, is that how much should be understood?

Understood. Secondly, just wanted to understand the new launch that you highlighted in the dets business on 99 on easy wash pack. What is the grammage here? Is there any price change that we are noticing in this pack?