While the premium segment continued to see strong positive traction, demand trends in the regular category remained below expectations owing to a general up-trending by certain consumers and a slowdown at the lower end. Given our
premiumization focus, our Prestige & Above category brands today account for 46% of our IMFL sales volume and 69% of IMFL sales value. In this context, it is heartening to note that the Magic Moments brand family has achieved 6.3 million case sales and crossed the milestone of Rs. 1000 Crore in sales value, growing at 25% over last year.
During FY2024, while the prices of certain packaging materials have been stable, the cost of grain, ENA, and glass has been volatile. This has led to significant pressure on our gross margins. However, with our premium product mix and price increases, we have been able to offset the pressure of raw material prices. With the expectations of a normal monsoon and better crop yield, we are seeing early signs of softening grain prices. We believe that the worst of the input cost increases is
behind us, and we expect to benefit from any tailwinds in raw material prices in FY2025
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