thanks for succinctly summarizing the key takeaways from the call. One minor correction- the ad spend is focused on RTC and peanut butter both and not only on RTC.
I certainly feel the texture of the business is changing and had ATFL not been in the midst of a edible oil pricing upcycle…numbers would have surprised the most optimistic assumptions.
One very interesting thing to note from the numbers Mr. Sachin Gopal mentioned on call, Edible oil gross margin this qtr was around 10%. I think in terms of edible oil margin erosion, the worst seems to be behind them as many players would either walkaway from business below a certain margins or they will take price-action to maintain/improve margins.