High raw material costs limited the margin gains even as the company spent less on advertising during the quarter. The raw material cost grew 5% on year and constituted 49.6% of the revenues, driven by inflation in tea and crude palm oil prices. The company’s ad spends declined 15% on year with these spends standing at 9.5% of net sales.
Will RBI rate hikes intensify selloff in bank stocks? Analysts explain why fears may be overdone
Bank shares have endured steep declines as investors brace for imminent interest rate hikes from the RBI. Some analysts suggest that the recent selloff may
September 30, 2026