Highlights Strong pick-up across all operating segments after severe disruptions in Q1 Gross Revenue up 11.1%, PAT up 13.7% on y-o-y basis Sequentially, Revenue (Ex-Agri) up 12%, EBITDA up 16% After significant disruptions in Q1, Cigarette volumes witnessed smart recovery with exit volumes at near preCovid levels Faster recovery in volumes vs. first wave of the pandemic Broad-based recovery witnessed across markets during the quarter; certain markets in Kerala and East remain relatively subdued Net Segment Revenue up 10.3% y-o-y and 10.5% q-o-q Segment EBIT up 10.4% y-o-y and 11.2% q-o-q Market standing reinforced through focused innovation and agile execution FMCG - Others Segment delivers resilient performance, growing on a high base quarter which witnessed exceptional surge in sales; Revenue up 23% over Q2 FY20 and 8% q-o-q Segment EBITDA at 403 cr., up 35% sequentially and 82% over Q2 FY20; EBITDA margins sustained at 10% in spite of unprecedented commodity inflation Sharp rebound in ‘Out-of-Home’ consumption on the back of improved mobility even as ‘at-home’ consumption moderates Discretionary/‘Out-of-Home’ portfolio posts sharp recovery both on sequential and y-o-y basis Staples and Convenience Foods witness moderation in y-o-y growth on a high base while well above pre-Covid levels; performs well on a sequential basis for the second consecutive quarter Hygiene portfolio continues to witness marked demand volatility; moderates sequentially in line with lower intensity of the pandemic; remains significantly above pre-pandemic levels Closure of educational institutions continues to impact the Education & Stationery Products Business Marked improvement in Occupancy (3x of Q2 LY) drives faster recovery in Hotels; Q2 turns EBITDA positive (+134 cr. swing vs. SPLY) Leisure destinations continue to perform well while Business travel gathers momentum Structural cost management actions undertaken in the past year aided in reduction of controllable cash fixed costs by 31% over Q2 FY20 Strong growth in Agri Business external revenue driven mainly by Wheat, Rice and Leaf tobacco exports, leveraging strong customer relationships and robust sourcing network Zero disruptions in supplies to key customers despite significant operational challenges; however, shortage in availability of shipping containers/port congestions and inclement weather delay call-offs Timing of Wheat supplies to Branded Packaged Foods Business aligned with market dynamics Paperboards, Paper and Packaging Segment delivers strong performance; Segment Revenue up 25% y-o-y Paperboards volumes at record high; robust performance aided by revival of demand across most end-user segments About 90% of eligible employees fully vaccinated; 100% vaccinated with at least one dose Result PDF