ITC: "Will"(s) "Gold Flake" assist "Ashirwad" to win "Bingo!"?

@Mayank_d
While it would be very difficult to predict how sales and margin would behave in short to medium term, in long term, the trend appears to be improving in EBITDA margin of FMCG other business. Also, the benefit of operating leverage which was on small scale would also now come in play with increasing penetration and premiumisation. In my working on Dabur, I prepared a chart of Distribution reach and NPM% for Dabur. It is very simplistic working and also may not be absolutely correct observation, but the trend appear reasonably clear to me. Enclosing chart as well as link for Dabur threads:
image

My apology for not being able to provide a precise answer, but I do not have same.

Discl: Same as previous thread.

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