Exports have been a key drag this year amid tariff uncertainty. With 36% of FY25 revenue coming from overseas markets, the impact is material. In Q3FY26, export growth slipped to the low single digits. The biscuits segment, spanning domestic and export sales, grew 6% year-on-year, while the bakery business, including retail and institutional sales, fared better with 13% growth led by the English Oven brand. Overall, Q3 revenue rose 8.4% to ₹533 crore, with biscuits contributing about three-fifths and bakery making up most of the rest.
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