FY 2023-24 has been a year of gradual market recovery post a period of sustained high inflation. Consumption habits recovered with a lag and this combined with uneven monsoons resulted in subdued demand, especially in rural areas.

Against this backdrop, we have delivered a resilient performance. With a turnover of ₹59,579 crores, we delivered an Underlying Sales Growth of 3% and an Underlying Volume Growth of 2%. EBITDA margin at 23.8% was up 40 bps year on year. Our gross margin was up 430 bps year on year, with a substantial part of this being re-invested behind brands and capabilities. Net Profit crossed a milestone of ₹10,000 crores in this fiscal. PAT before exceptional items and EPS grew 4% and 2% respectively.

Ritesh Tiwari Executive Director, Finance & IT and
Chief Financial Officer