Emami reported a mixed set of earnings but volume growth at 9 percent is a positive.

"Growth has come from all the channels ... wholesale which was declining is now muted and so across the channel, growth seems to have stabilised and now the demand has started picking up,” said NH Bhansali, CFO of the company.

Bhansali was hopeful of maintaining margins. "There should not be a material change in terms of the gross margin profile as well,” he said.

He said the company has taken several steps to reduce dependence on the wholesale channel over the last one year.

First Published:May 4, 2018 1:19 PM IST