• Revenue and volume growth: Excluding the impact of distribution restructuring in Kerala, product sales revenue grew 12.1% and volume growth rose to 4.4% (compared to the reported 1.7%), driven by an 11.4% pricing effect.
• Convenience foods strategy: The category grew 11.9% in the quarter, supported by double-digit meals growth and a digital-first breakfast strategy featuring wet batter expansion into Hyderabad and six new protein-rich GenZ product launches.
• Raw material inflation: Input costs surged nearly 30% for spices, with chilli prices rising by almost 78% and coriander increasing 40% to 42%, while wheat costs dropped 7% and skimmed milk powder saw a modest 5% rise.
• Pricing and inflation outlook: Management is maintaining a wait-and-watch approach before taking further pricing actions, closely monitoring commodity trends and monsoon progression.