Havells India Limited CC-Mar24.pdf · 2024-04-30
I had a question. Now the margins you give to your dealers and retailers of your AC products, is that subtracted when you are calculating your contribution margin?
Now the reason I'm asking is when we are actually going to the channel for the last couple of quarters, we get this feedback that Lloyd has cut down on dealer margins. Now is that one of the reasons why your contribution margins have gone up? And correspondingly, we are also noticing that for the last 2 quarters, the sales growth has slowed down to 7% or 6%. Now I'm not telling this is right or that is right. I just want to know, are you now comfortable at growing at in line with the industry or slightly lower than industry for better profitability because in the past, like the last 2 years, you were literally growing at almost like 1.5x the pace of the industry. So, are you now more comfortable with like 10% to 15% kind of growth with slightly higher margin? Is this what you are trying to achieve?