The company has been investing hugely behind brands through media spends & consumer promotions. Unlike other FMCG majors, it has increased its marketing spends in Q3 to support new launches & drive premiumisation. We expect it to spend ~13% of sales towards marketing in FY21 (similar to FY20) despite significant decline in ad-rates in H1FY21. It has launched Mouth Spray & Oil Pulling under Vedshakti brand and is spending aggressively on advertisement to drive penetration led growth. In oral care it introduced toothpaste for diabetics with Ayurveda ingredients. The...