It said it expects to see mid single-digit volume growth in the domestic market and high single-digit revenue growth in its international business.
“The foods and beverages vertical has seen strong double-digit growth in the quarter on the back of improving out-of-home consumption, innovation and intense summer season. The home and personal care portfolio is expected to record high single to low double-digit growth,” the company said, adding that it continues to gain market share across most segments it operates in.
It said it continues to target higher than industry growth on a medium to long term perspective with stable margins, although there are near term inflationary pressures. “In spite of high inflation and near-term consumption pressure, the company will continue to invest behind power brands, innovation, distribution expansion and a strong backend,” it said.
Consumption pressure continued on account of unprecedented inflation, which impacted share of the income available for spending on consumer staples, the company noted in its performance update.