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.
Afcons Infra’s Rs 5,430 cr IPO opens tomorrow. Price band, GMP among 10 things to know before subscribing
The initial public offering (IPO) of Afcons Infrastructure will open for subscription on October 25 and close on October 29. The company aims to raise