Cement division would continue to be key contributor in the company’s profitability

The Indian innerwear market was valued at ~Rs 320 billion in 2018 and is expected to grow at a CAGR of ~11% over the next decade to reach ~Rs 897 billion by 2028E

A proxy play on domestic FMCG and Pharma consumption

High quality cash generating business with negative working capital

Company is well-poised for a re-rating given growth visibility, improving balance sheet and attractive valuation

Renowned brand with multiple offerings

Capacity expansion to drive growth & further strengthen its market presence

Huge untapped opportunity in the rural market

Access to advanced Tricoat technology

Series of new product launch is driving growth