FMCG: Rural recovery insight, margin recovery to sustain
On a four-year CAGR basis, the universe clocked 15% growth in Q1FY24 with QSR/Paints growing ahead of our index (35/15%) in Q1FY24
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HSIE Results Daily: Britannia Industries, Godrej Consumers, Balkrishna Industries
Britannia took price corrections to defend its market share as competitive intensity rose (particularly from local/regional brands)
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Britannia Industries Ltd - Long-Term Story Remains Intact
We expect Britannia to deliver market-leading growth from here on as 1) Raw material prices, while still firm, have or will stabilize at the...
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FMCG & Alco Bev - Slow Pick-Up in Growth, Margin Expansion to Continue
Continuing from previous quarters the demand environment remained stable led by urban markets while rural recovery was below expectation
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Q1FY24 Consolidated Preview
Considering these factors collectively, the Q1FY24 earnings season is likely to deliver positive surprises on the margins front.
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