• Growth outlook: Management aspires to consistent double-digit growth, defined as “10 to a low-to-mid teens” near-term; it said growth could accelerate as the growth portfolio unlocks.
• Growth portfolio: ARR is close to ₹260, ₹265 crore, with a ₹500 crore aspiration over the next 3 years. The portfolio was close to 15% above last year’s average run rate this quarter, and the company aims to exit this at a 30-40% higher run rate; coconut deflation means volumes are expected to be ahead of revenue.
• Domestic distribution: Aarohan aims to expand direct distribution, currently indexed at 50 to 55% of larger peers, toward 75 to 80%. Aarohan 2.0 targets a 10% urban and more than that rural direct increase for next year, starting in quarter 4 and completing as soon as possible in FY28.
• International business: International business is growing ahead of the company growth rate, with significantly improved profitability. Management aims for it to reach close to 10% of the mix over the next 3 to 4 years, from close to 5% currently, while improving the mix by at least 1 percentage point over time.
• Margins and acquisitions: Management prioritises protecting the absolute margin pool and growing absolute EBITDA, rather than judging performance mainly by percentage margins in an inflationary environment. Acquisitions remain on the radar, but no deal was announced.