• Gross margin recovery: After high raw material contract costs in March pressured fourth-quarter gross margins, price increases were passed through in April and margins are expected to improve.
• Capex deferral: Having spent over ₹200 crore on capex last year, the company has temporarily postponed its remaining capex until operating conditions clarify, while commercial output from completed projects will ramp up this financial year.
• Export growth outlook: Exports currently contribute 26–27% of total sales and are budgeted to outpace domestic growth in the current financial year, supported by pick-ups in textile and HPPC exports.
• Thailand facility status: The Thailand textile formulation facility has been commissioned, logged initial sales in the fourth quarter, and is expected to deliver on its budgeted revenue contribution this financial year.