• Demand and supply: Rural demand is showing distinct weakness due to deficient monsoons, while urban demand remains strong heading into the festive season. Severe supply and transit disruptions have also blocked sunflower oil imports, which account for $2.5 to $3 billion annually.
• Segment guidance: Edible oil volume growth is projected to surpass 4% with margins above 4%, while FMCG is on track for 15% growth with margins between 18% and 20%. Foods revenue is guided to grow 8% to 10%, though passing on input cost inflation remains a monitorable.
• Cash flow generation: Following negative operational cash flows in the prior financial year, the company expects to generate ₹700 to ₹800 crore in free cash flow this year.
• Capital and ownership: Management stated that the 38% promoter stake is not pledged against loans in the traditional sense, and firmly ruled out any consideration of a share buyback.