FMCG: Demand recovery lags margins
On a four-year CAGR basis, the universe clocked 9% growth in Q4FY23, a trend similar to that witnessed in the previous few quarters
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HSIE Results Daily: Britannia Industries, ABB India, Marico, Bharat Forge, DCB Bank
Britannia Industries: Britannia’s Q4FY23 net revenue grew by 11% YoY vs our expectation of 14%. Volume growth was c.3% (four-year CAGR at 4%)
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FMCG & Alco Bev: Respite in demand and margins pressure
Our FMCG coverage universe is expected to deliver growth of 10/9% on YoY/four-year CAGR in revenue in Q4FY23 (vs 12/8% in Q4FY22 and 8/10% in Q3FY23)
232 Views
Britannia Industries - Robust Performance in Challenging Times
BRIT Q3FY23 Results were robust, beating our/ street estimates on margins as lower raw material cost and better cost efficiency led to better-than...
362 Views
FMCG & Alco Bev (Q3FY23 Results Preview): Unchanged demand trend, some respite in margins
Our FMCG coverage universe is expected to deliver growth of 9/11% on YoY/three-year CAGR in revenue in Q3FY23 (vs 17/10% in Q3FY22 and 8/11% in...
471 Views