Financial Overview & Regional Performance
Key Results Highlights
Volume growth of 49% in the quarter vs prior year driven by strong recovery of demand, prevalent across nearly
all markets. Volumes were up 23% vs the first quarter.
Versus pre Covid period of 2019, the quarter volumes were at 78%, with continued month-on-month
recovery. September volumes were at 88% vs 2019.
o Strong EBITDA results at INR 170 Cr. contributed by volume growth/ lower impact of COVID in current year and
cost efficiencies.
EBITDA margin increased to 11.9%, up from 8.1% last year
Robust free operating cash flows at INR 227 Cr year to date, up from INR 95 Cr prior year. The Company has a
strong liquidity positions with circa INR 600 Cr bank balances.
The Company has received a CCI Order with the imposition of INR 752 Cr as penalty. The Company is in the
process of preparing the grounds of appeal and the appeal will be filed within the time frame of 2 months from
the date of the order. Basis legal advice, the Company believes that it has a strong case on merits for successful
appeal on this matter. Accordingly, no provision is considered necessary.
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