Questions across 3 calls

Pankaj Murarka

Renaissance Investment Managers

Syngene International Limited

Syngene International Limited CC-Jan26.pdf · 2026-01-23

Yes. Hi. Good afternoon, gentlemen. Peter, you answered some of my questions, but I still want to get your take on, I presume it has been about six or seven months since you have been back into the saddle. So, did some of the existing state of affairs or state at which the business was, when you assume charge, did it surprise you ? Point number one. Point number two, while you outlined the initiatives you have taken and you continue to make strategic investments, keeping the long -term interest in the business, and since you are not guiding for next year, and as shareholders, we want to take a slightly more medium term or longer term view on the business , c an you qualitatively comment, when do you think the business will get back to growth trajectory on the aggregate basis , because while I understand that some part of the business is growing, but still as shareholders, we are not buying parts of the business ? And I am still not able to understand , Deepak, your comment that when you are saying the rest of the business is growing at high single digit, how do you call it a strong growth, I am still not able to connect that qualitative comment to the underlying growth in the business? So I would appreciate since you are not quantifying or giving guidance, if you could clarify on some of these qualitative comments on the questions I am asking?

Thank you. Yes, it does.

Godrej Consumer Products Limited

Godrej Consumer Products Limited CC-Jan26.pdf · 2026-01-23

Sudhir, just to delve a little more, when you talk about sustained 10% volume growth, obviously, a meaningful part of the portfolio is soaps, which if we take the long -term averages, we know where the growth is. Then effectively, we would need the rest of the portfolio to be growing at low to mid-teens on a sustained basis. So, from a slightly more medium -term perspective, if you can articulate the strategy there in terms of while I took a point that the existing categories even on a large scale are growing at a pretty high rate. But at some point, of time, these categories will be some -- will get into some sort of a base effect. So how should we think about the whole construct of the business from a medium-term perspective as you're driving it?

It is very interesting. And should we also then presume that you'll keep adding products or getting into new categories, let's say, every 2 to 3 years to sustain this?

United Spirits Limited

United Spirits Limited CC-Nov25.pdf · 2025-10-31

Yes. Hi. Praveen, now that you've been around for two quarters, it will be good to get what do you think is the medium -term construct of the business, given the structural tailwinds that the industry always enjoys, and obviously, there are cyclical headwinds, which will keep happening every year from state-to-state that we've seen happening every few years. So what’s the kind of construct you think in terms of volume growth, revenue growth, realization you think that this business can, because given the structural tailwinds that the industry has. And also, meaning any thoughts on Bihar, given what's going on and what you've read, that will be helpful.

So that's well appreciated. Any comments on Bihar in terms of what it could -- meaning if you have some better understanding than obviously, what you...