Transcript of the earnings conference call held on May 22, 2026.

AI summary - FY26 revenue INR14,889 mn +17% y-y; Q4 revenue INR344 Cr +13.5% y-y; FY26 EBITDA margin 12.2%, Q4 margin 10.6% - Mattress category led growth with 17% annual and 20% Q4 growth; furniture grew 24% annually - FY27 revenue growth targeted at 20%, driven by mattress strength and expanded furniture/furnishing reach - Raw material inflation 25-30% for key inputs; price hikes of 7-8% in March and April implemented - Marketing spend increased to ~7% of sales; brand building to continue - Retail expansion: 139 COCO stores end FY26; 80+ new stores targeted in FY27; 2 jumbo stores planned for FY28 - Own channels contribute ~67% annual sales, 74% quarterly; focus on omnichannel growth - 100-day return policy stable below double-digit returns; no cost to customer for returns - EBITDA margin may face 1-2 percentage point pressure in near term due to inflation and price hikes - Management focused on market share protection and multi-category growth for long-term value