• Pricing and commodity impact: Q1 input cost inflation had an impact of around 600 bps (close to ₹150 crore) on the India business, which was largely mitigated by cost optimizations and a portfolio-wide price hike of about 5%. Management believes the worst of the commodity volatility is behind them and does not expect further significant price increases.
• Volume and revenue guidance: India volume growth stood at 7% in Q1 and consolidated volume growth reached 9%, keeping the company on track for high single-digit India volume growth and potentially exceeding internal revenue growth estimates for FY27.
• New product salience: Contributions from high-growth new categories—including toilet cleaners and the newly launched Godrej Rizz dishwash liquid—reached roughly 17% salience in Q1, with management targeting 20% by year-end.
• Indonesia market outlook: After a challenging period, the Indonesia business rebounded strongly in Q1, aided partly by seasonality, and is expected to sustain high single-digit volume growth moving forward.