Mallcom (India) · tone and specificity signals across the available quarters.
Language signals
For some categories, it's difficult to convince people to make a visit to us and get into product development when the economy is not doing well. And even if you are able to get somebody else's market share, you also have to ensure that your own customers are still growing.
We are almost closing on 50/50 ratio. Two years ago we would have been something like 65/35. The growth in branded has definitely been higher than the growth in our white label business.
Ideally PAT margin should be in the range of 8 to 9%. But we have just completed the major capex cycle and these facilities will take some time to start contributing revenue and profit.