FMCG Q3 Earnings Preview - Growth Slows Down On High Base: ICICI Direct
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ICICI Direct Report
Fast moving consumer goods companies are expected to witness slower revenue growth in Q3 FY22 with high base quarter sales and adverse impact of commodity inflation on volumes in key categories.
The FMCG companies have taken price hikes to the tune of 5-15% in the last six months to pass on high commodity inflation. Further, volume growth is likely to remain flattish for most FMCG companies given base quarter saw pent up demand in discretionary categories.
Our FMCG coverage universe is likely to witness revenue growth of 8.3% largely led by pricing growth.
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