High Leverage / Negative EquityNegative equity and high leverage are enduring financial constraints: they raise refinancing risk, increase interest burden, and limit strategic flexibility. Over months this restricts capital allocation, raises default risk during stress, and can impede investment needed for recovery.
Declining Revenue TrendA sustained top-line decline erodes scale and operating leverage in FMCG. Lower revenue reduces bargaining power with retailers, compresses unit economics, and makes margin recovery harder. Without credible revenue stabilization, structural recovery of profitability is at risk.
Persistent Net Losses And Thin Gross MarginsChronic net losses combined with very low gross margins limit the company's ability to absorb costs or fund growth internally. In low-margin FMCG categories this constrains pricing flexibility, reduces cushion for promotions, and prolongs the path to durable profitability.