Early rainfall spoils FMCG's summer run, register mild Q1 recovery

Early monsoon dampened Q1 FY26 demand for summer-linked FMCG goods but modest volume growth and raw material easing could support a broader recovery from Q2

Fast-moving consumer goods (FMCG) companies are expected to see some revival in volume growth on a sequential basis, while price-led growth may remain limited in the April–June quarter (Q1) of 2025–26 (FY26). The quarter, which typically sees an uptick in sales of summer-related products, was impacted by the early onset of the monsoon, brokerages observed.

 

“We expect the summer portfolio across companies to be impacted due to the early monsoon. Categories such as juice, soft drinks, water, ice cream, and cooling hair oil may be most affected, as we expect these to see a year-on-year decline in sales,” Nomura said