GCPL’s Q3FY25 performance was weak as domestic business posted muted 3.6% y-o-y revenue growth (flat volume growth) and a sharp 672 bps y-o-y decline in OPM, which dragged PAT down by 27.7% y-o-y. Multiple headwinds such as a slowdown in urban consumption, surge in palm oil prices and poor season for household insecticides affected domestic performance in Q3.