Transcript of the Earnings Call

AI summary - Standalone Q1 FY27 revenue grew 22.2% to INR 4,237 Cr; volume growth 11.3% - Consolidated revenue INR 4,541 Cr, up 21.3%; EBITDA margin improved 120 bps y-y - Consumer & Bazaar volume growth 12.2%; B2B volume growth 7.3%, exports down 8.4% - Gross margin at 52.5%, down 90 bps y-y; EBITDA margin 26.4%, up 80 bps q-q - Price hikes taken across categories to offset input cost inflation; rebates possible - Growth businesses like Dr. Fixit, Roff showing accelerated momentum, 2x-4x GDP growth - Innovation highlights: Fevicol X-PER anti-bending adhesive; M-Seal Advanced low VOC - Competitive intensity rising in tile adhesives; company expanding plant network - Electronics adhesives progressing; focus on consumer electronics and EV segments - Margins expected to stay within 20-24% corridor; Q1 benefited from lower-cost inventory - Demand remains robust despite price hikes; projects and retail waterproofing growing - Market share gains in core categories at 1.5x-2x market growth - Management emphasizes pioneering new growth engines and solution systems - Dividend of INR 11.50 approved at AGM