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Leading FMCG makers reported resilient growth amid a stable demand environment in the March quarter of FY26, posting a healthy revenue expansion, even though geopolitical tensions in the Middle East markets remained a concern. The makers, such as Marico, Dabur and AWL Agri Business (formerly Adani Wilmar), have reported growth in both volumes and value, driven by pricing actions, category momentum and resilient domestic consumption, and growth from international markets except the conflict area. Makers expect margins to improve as inflation eases; however, they remain cautiously optimistic about the coming quarters. They expect the trend of domestic demand recovery to continue, aided by stable macroeconomic conditions and improving consumption trends. Homegrown FMCG major Marico, in its quarterly update, said its consolidated revenue grew in the "low twenties" year-on-year during the quarter, aided by pricing interventions, strong performance in hair oils, and robust traction in its
Sales growth of the FMCG industry has moderated to 7.8 per cent in the December quarter of 2025 amid the GST rationalisation and a high base due to increased festival season sales, a report from data analytics firm NielsenIQ said. Volume growth has also dipped to 2.6 per cent in the December quarter on a year-on-year basis, which was the lowest in 2025, it said. "Both price and volume growth softened sequentially, particularly within traditional trade, which experienced temporary supply and pricing recalibrations during the initial phase of (new GST rate) implementation," said NielsenIQ India FMCG Quarterly Snapshot Q4 FY25. The moderation reflects a combination of a higher festive base in the previous year and transitional adjustments linked to GST 2.0 rate revisions, it said. However, the report also said that the recent data indicate improving availability of GST-related launches and pricing alignment across the retail network, suggesting stabilisation following the transition.