• Financial performance: Revenue grew by approximately 32% and net profit rose fourfold from 14.5 crore to 60 crore, alongside a 10 basis points increase in operating margin to roughly 9.5%.
• Induction cooktop demand: Consumer adoption continues to accelerate with market demand exceeding manufacturing capacity, a trend expected to sustain throughout the entire year.
• Margin guidance: Management expects margins to recover and surpass 11% following price corrections implemented at the start of the quarter to offset metal disruptions and currency depreciation.
• Retail store expansion: The company expanded its Pigeon brand into 16 additional cities and operates 329 exclusive company-run stores, seeing strong traction in Tier 2 cities alongside Tier 1 markets.