Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q3 CY2026 revenue grew 33.2% y-y to Rs. 66,076 million; volume up 28.7% - India volume growth 22.5%, international markets 39.9%; EBITDA up 25.1% to Rs. 14,267 million - Gross margin down 334 bps to 53.1% due to packaging cost rise; sugar price impact offset by low/no sugar portfolio - International business synergies from Twizza-BevCo merger effective Aug 1, 2026 - Capex: $90-100 million planned for international markets; Rs. 1,000 crore for India in CY27 - New product launches include RTDs and premium alcoholic beverages via KIVA Spirits - Price pack architecture changes include Sting downsizing from 300ml to 250ml - AI and digital tools deployed for distribution efficiency and retailer engagement - Multiple analyst queries on margin outlook and international capacity; mgmt expects gross margins to have troughed in Q3 - Management confident of sustaining double-digit volume growth in India and Africa