Revenue grew 6% YoY to INR27.0b (in line) in 1QFY27, while volumes declined 3% YoY (est. -3%; 4QFY26: -6%). Prestige & Above (P&A) volumes declined 1% YoY, but value grew 10% YoY, supported by a favorable mix and strong traction in new variants of Smirnoff (Minty Jamun and Mango Mirchi).