India · Delayed Price · Currency is INR TTK Prestige Earnings Call Transcripts
Fiscal Year 2026
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Double-digit revenue growth was driven by festive demand, premiumization, and omni-channel expansion, though input cost pressures and appliance segment competition persist. Management expects sustainable growth, with CapEx and OpEx investments supporting future performance.
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Double-digit revenue and EBITDA growth were driven by volume, portfolio expansion, and channel efficiency, with no one-offs. Margin gains may face pressure from rising input costs, but strategic investments and premiumization continue.
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Domestic sales grew 4.7% year-over-year, led by e-commerce and general trade, while gross margin reached 44% amid stable input costs. Strategic investments impacted EBITDA margin, but management expects recovery as sales ramp up and premiumization continues to drive value growth.
Fiscal Year 2025
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Sales grew 4% in Q4 and 1.2% for FY25, with EBITDA margins at 13.4% for the year. Aggressive investments in capacity, new products, and channels are expected to drive growth, though margins will be diluted in the near term due to ongoing strategic expenses.
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Q3 FY 24-25 saw a 3% decline in growth due to post-festive demand tapering and continued MFI channel weakness, but gross margin improved by 150 bps. Urban and non-MFI channels remain robust, with strong new product launches and digitization initiatives supporting future growth.
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Management remains optimistic about growth, with strong performance in retail, e-commerce, and modern trade channels, despite ongoing rural and CSD channel challenges. Store rationalization is complete, and the company is well-prepared for BIS implementation and export growth.
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Q1 FY25 saw flat revenue but robust profitability, with strong growth in modern trade, e-commerce, and exclusive stores offsetting weakness in general trade and rural channels. Management transition is complete, and new product launches plus premiumization are set to drive future growth.