PVR INOX Limited CC-Feb26.pdf · 2026-02-05
Hi, guys. First, I have a bunch of questions. On the results, I just wanted to understand , our employee cost kind of eats up the operating leverage that one would expect in this business, especially given how we have reduced our costs over the past several quarters. So , is there like some variable incentive which is built into the employee cost, which is leading to the 10% Y-o- Y increase in employee cost? Or I do not know, like could you just explain that 10% raise?
Excluding the incentive, it would have been 6.4% per quarter. Right?