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Revenue rose 18.4% but volume grew only 2.9%, so growth is mainly price-led. EBITDA margin fell about 100bps to 15.9% under input inflation, and management leans on adjusted metrics excluding PLI and Project Bold to present underlying performance.
Q2 FY27 revenue ₹776cr (+19.4% YoY), PAT ₹91cr (+19.2%), EBITDA ₹124cr (+12.6%) with margin down 1.0pp to 15.9%. Spices +25.1%, Project Bolt digital-commerce push ongoing.