• For FY '27, the combined business is expected to achieve high-single-digit to low-double-digit volume growth, with an upgrade to mid-teens annual volume growth for the next couple of years from FY '28 onwards due to new launches. Revenues are projected to grow at least 300 basis points higher than volume growth. • Consolidated EBITDA margins are targeted to reach 16% to 18% by FY '29 with an upward bias, improving from the 15.5% base set in Q4 FY '26 for FY '27. This will be driven by optimizing packaging, processes, and supply chain, leading to operating leverage and economies of scale. • The company aims to reduce net debt to approximately INR1,700 crores by March '27 from INR2,100 crores in Q1 FY '27, targeting a net debt-to-EBITDA ratio below 1x by March '29 through efficient capital deployment and disciplined debt management. • A price increase is expected in Telangana in Q2, which could provide an incremental margin impact of 150 to 200 basis points on an annualized basis. • Strategic priorities include generating demand for brands to deliver double-digit volume growth, expanding the luxury and premium portfolio leveraging the pan-India distribution strength of Imperial Blue and Mansion House, and increasing trade and consumer engagements for Imperial Blue. $TI

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