• First quarter performance: Revenue grew 10% and EBITDA increased 15%, marking the seventh consecutive quarter of margin expansion and improving net profit by over 100 crores despite seasonal headwinds.
• Balance sheet metrics: Gearing improved from 2.6x to 2.4x, adhering to typical seasonal patterns where net debt rises in the first two quarters before working capital and cash are released in the fourth quarter.
• Growth guidance outlook: Management maintained a cautious full-year EBITDA growth guidance of 10% to 14% on a constant currency basis, citing macro uncertainties, geopolitical conflicts, and El Niño impacts.
• Regional cost pass-through: Price increases successfully passed through raw material costs across Europe, APAC, the Americas, and India, though Latin America and Brazil saw pushback due to competitor inventory cover.