The quarter has been a strong one for us, with all-time high quarterly Volumes, Revenue, and EBITDA. Demand and sales picked up in the second half of the quarter post the prolonged monsoon and festivities. Overall lubricants volume grew by 8%, clearly outperforming industry growth by 2x, supported by double-digit growth in key segments of B2C led by Passenger Car Motor Oil (PCMO) & Agri and across B2B segments. We expect overall demand momentum to continue in the coming quarter, enabling us to close the year on a strong note.

Q3 delivered encouraging performance across all key financial parameters, reflecting the strength of our execution capabilities. We recorded healthy double-digit topline growth for both the quarter and the nine-month period, supported by higher volumes and an improved product mix. Stable commodity prices contributed to gross margin expansion, enabling us to achieve our highest-ever quarterly EBITDA of Rs 130.27 Crores. We have recognised an exceptional item of Rs 22.64 Crores in Q3 on account of the new labour code which impacted profitability. Excluding the impact of this one-time gain and provision for new labour code, our PAT growth is 7.40% Y-o-Y.