Thanks a lot rohit for that attachments. My views
1 It is surprising that the management doesn't talk about the overall consumption slowdown at all. Even the FMCG companies with a very small ticket item have admitted that there is a slowdown. Are they so confident that their products will such a huge demand even in the current scenario ?
2). I am not sure if we can attribute the sales decline to dealer stocking in advance to due to the anticipated price hike. Even the theory of lag due to old supply issue is hard to buy. Because that was solved in the last q itself. The so called pricing power is also under question.
3). One should not get carried away with the new product launches. Because there is no guarantee of demand for them. The cooker ( where they are very strong) itself is not sold. I think induction cook top is one of the products they are launching. this is a highly overcrowded market with so many branded and unbranded players. i head there is a huge oversupply.
I think this will go on. Next quarter we will find some other reason for the decline.(Note; I am also invested. Not under loss. But planning to get out over the next few weeks)