Q4-FY26 · Dasa Nagaraju Anil Kumar
FY26 was a year in which we deliberately chose to invest ahead of our demands. This was also year of heavy investments. I had rather you understand the shape of the business than just the headline numbers.
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FY26 was a year in which we deliberately chose to invest ahead of our demands. This was also year of heavy investments. I had rather you understand the shape of the business than just the headline numbers.
Margin pressure this year is the cost of capacity we have built but not fully utilized. As Unit 4 in Gujarat scales towards full operation and new capacity absorbs fixed overheads, we expect operating leverage to work in our favor in future.
We chose the harder higher barrier path on purpose because that is where the margins and the modes are to our shareholders.