• Long-term guidance: The company projects low double-digit volume CAGR with revenue growth exceeding volume by 200 basis points, aiming for FY29 EBITDA margins between 16% and 18% and absolute figures around 1,000 crores.
• EBITDA outlook: Management aspires to reach an EBITDA of 650 to 680 crores for FY27, expecting performance to improve in the second half after a 150-basis-point margin hit from inflation in Q1.
• Debt reduction: Net debt is targeted to decline from 2,100 crores in Q1 to approximately 1,700 crores by the end of the financial year.
• Telangana market dynamics: The company expects to secure a price hike in Telangana during Q2 after a three-year gap, while working to recover around 550 crores in overdue receivables from the state.
• Imperial Blue portfolio: Market share for Imperial Blue grew by roughly 150 basis points to reach around 30% in Q1, with potential medium-to-long-term volume upside if Bihar lifts its liquor prohibition.