FMCG Companies

Driven by GST reforms, robust festive demand, and softening raw material prices, the FMCG industry expects volume-based growth, supported by a mid-single digit revenue rise and improved operating margins in the December quarter. After settling down of GST-led disruptions, where distributors and retailers focused on liquidating the existing higher-priced inventory in the channel, the FMCG companies have witnessed signs of recovery, major listed firms informed exchanges in their recent updates on the December quarter. Moreover, post-trade stabilisation, consumer sentiment improved in urban and rural areas. However, in continuation with the previous trend, rural demand continued to outperform urban demand this quarter as well, FMCG companies like Dabur, Marico, and Godrej Consumer Products Ltd (GCPL) said. The FMCG industry, which was facing slow consumption, now expects a sustained recovery in demand and improvement in revenue trajectory in the coming quarters. Besides, in terms of .

The FMCG sector is witnessing a strong pick-up, helped by robust macroeconomic indicators, and a 5 per cent volume growth is expected in the 'first few months' of this year, a Worldpanel report said. According to the December FMCG Pulse report from Worldpanel by Numerator, India's GDP expectations have been revised upwards, inflation is low, and food inflation is negative, and many manufacturers are passing on these benefits to shoppers. Moreover, the banking sector regulator, the RBI's consumer confidence index, also indicates that consumer confidence is returning. "With the macro-economic indicators being strong and FMCG also seeing an uptick correspondingly, we expect the coming quarters to strongly build on the momentum. A 5 per cent FMCG volume growth from a household perspective is possible within the first few months of the next year (2026)," the report from Worldpanel by Numerator, said. Worldpanel by Numerator provides currency-grade consumer data representing nearly 6 ..

In the latest note on the consumer goods sector, Emkay analysts Nitin Gupta and Mohit Dodeja estimated revenue growth of around 6% Y-o-Y & Ebitda growth of about 7% for listed FMCG players in Q3.

Nomura expects Marico's consolidated revenue to rise in the high twenties Y-o-Y in Q3FY26, estimating growth of around 27%, despite a broadly stable demand environment for the FMCG sector.

Expecting 2026 to be a 'favourable year', with policy tailwinds as tax reliefs and GST reforms, along with benign commodities, the Indian FMCG industry looks for a high single-digit volume growth, improvement in margins and comeback of the urban demand, which is a vector of growth. Benign inflation will help expand gross margins, enabling companies to invest more in advertising, the lifeblood of FMCG (Fast-Moving Consumer Goods). However, the companies also need to rethink their media strategies, as traditional media is losing relevance amid evolving consumer habits and preferences, driven by where, how, and how much time different age groups spend on media. FMCG companies are also expected to invest in new technologies -- from automation and analytics to AI-driven demand forecasting, supply chain optimisation, and personalised consumer engagement and same-day and 1030 minute Quick-Commerce deliveries are expected to be the critical pillar for omnichannel growth ...

Nomura sees GCPL, Tata Consumer, Marico, and Britannia as the key near-term winners of the commodity downcycle.

Sales growth in Indian FMCG sector slowed to 5.4 per cent in volume during September quarter mired by disruptions due to GST rate changes, though value growth jumped to 12.9 per cent, according to the latest report from data analytics firm NielsenIQ. The rural market also slowed down from 8.4 per cent to 7.7 per cent year-on-year, but continued to outpace the pace of sales in urban areas for the seventh consecutive quarter, the report said. "The market recorded a 5.4 per cent rise in volume alongside a 7.1 per cent increase in prices, with unit growth outpacing overall volume growth signalling a stronger consumer preference for smaller packs," it said. Urban market, which forms bulk of fast-moving consumer goods (FMCG) demand, is recovering moderately, particularly in smaller towns. Sequentially, it experienced slowdown. Rural market, which is of small packets, is driven by affordability, accounts for around 38 per cent of the FMCG demand. "Rural India has recorded a 7.7 per cent

Marico reported a slight dip in Q2FY26 net profit despite healthy revenue growth, steady India demand, and strong international business performance

Taste for convenience serves up 50-100% growth for AWL Agri, Tata Consumer, Parle

The firm's revenue from operations rose 5 per cent to ₹5,032 crore in Q2FY26, from ₹4,805 crore from the same quarter last year. On a sequential basis, it increased 13 per cent from ₹4,459 crore

Homegrown FMCG player Emami Ltd on Monday reported a 29.7 per cent decline in consolidated profit after tax at Rs 148.35 crore in the second quarter ended September 30, 2025, impacted by temporary trade disruption in expectation of GST rate cut and excessive rains affecting certain product categories. The Kolkata-based company had reported consolidated profit after tax of Rs 210.99 crore in the second quarter last fiscal, Emami Ltd said in a regulatory filing. Consolidated revenue from operations in the second quarter was lower at Rs 798.51 crore, as compared to Rs 890.59 crore in the year-ago period, it added. Total expenses in the quarter under review stood at Rs 619.98 crore, as against Rs 640.12 crore in the same period a year ago, the company said. Emami said the GST rate reduction from 12 per cent or 18 per cent to 5 per cent is structurally positive, laying the foundation for long-term demand acceleration, as nearly 88 per cent of its core domestic portfolio benefited from t

Dabur Q2 results: Dabur reported a 5.4 per cent year-on-year (Y-o-Y) rise in consolidated sales, led by 4.3 per cent growth in the domestic business, while India volume growth stood at 2 per cent.

FMCG companies selling soap to soft drinks in the Indian market reported some impact on their sales in the September quarter from disruption owing to GST reforms, along with unusually heavy rains in parts of the country, but they see growth in the coming quarters, helped by favourable macro-economic conditions. Leading global markers, including Unilever, Reckitt, Heineken, PepsiCo, and Coca-Cola, in their respective earnings calls, have mentioned challenges they faced due to disruptions in trade channels in September. "Our emerging market performance is improving; India, in particular, is very well positioned over the medium term. The GST reform has had some impact in the short-term, but we believe it is very good news for 40 per cent of our portfolio with close to a 10 per cent price reduction," Unilever CEO Fernando Fernandez said. British FMCG major Reckitt said its net revenue growth in India was impacted in the September quarter due to the implementation of new GST slabs; ...

Marico's India volumes are projected to grow 7 per cent Y-o-Y, while domestic pricing gains are estimated at 26 per cent.

In the year-to-date (Y-T-D) period, the Nifty FMCG index has lost 3 per cent, as compared to a rise of around 4 per cent in the Nifty 50, Bloomberg data shows

Heavy rains in Q2FY26 adversely affected seasonal categories such as carbonated drinks, ready-to-drink juices, beer, ice creams, and hair/skin summer care products.

The industry may push for a new refund mechanism, but this would be difficult for the government to allow, given the high risk of misuse

Following the rationalisation of rates under the new GST reforms, most daily-use items have shifted to the lower 5 per cent tax slab, creating a challenge for FMCG firms

Worldpanel by Numerator says FMCG firms must leverage brand equity to expand into high-growth categories and win new consumers

Mother Dairy, Hindustan Unilever and others announced price cuts across dairy, foods, ice creams, soaps and shampoos, as GST benefits are passed on to consumers from September 22