TVS Motor Company’s Ebitda margins have improved from 10.1% in Q3FY23 to 11.2% in Q3FY24, driven by sustained material cost reduction, commodity price softening, opportunistic price hikes
Varun Berry, the Executive Vice-Chairman and Managing Director of Britannia, remarked that regional competitors offer products at lower prices and provide greater margins to retailers. However, the sustainability of these competitors will depend on consumer demand in the coming months. Britannia expects double-digit volume growth in the coming quarters due to lower cost inflation and the upcoming general election. The company believes that the economy and stock market are moving in the right direction, leading to increased consumption and growth opportunities.
Apart from a continued thrust on capex and infrastructure, analysts believe the interim budget may also include measures to boost welfare spending and the rural sector.
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For fast-moving consumer goods, a sharp price cut in edible oil dragged down value growth. A cooler summer and erratic rainfall impacted beverages and food, while rural markets stayed under pressure due to inflation. Value sales fell 4.5% during October-December, according to Bizom, which analyses data based on orders at nearly 7.5 million kirana stores.