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Nirmal Bang Report
Through this update we present our Q2 FY22 estimates for our consumer sector universe (sub-sectors covered: FMCG, paints, alco-bev, quick service restaurant).
Essentials/staples companies are expected to hold their ground in Q2 FY22 despite a fairly decent base.
Recovery of discretionary consumption, which had paused on account of the second Covid-19 wave in Q1 FY22, resumed in Q2 FY22 at a sharper pace.
As the number of Covid-19 cases reduced and vaccinations accelerated, restrictions were progressively lifted by state and local authorities, resulting in improved mobility and stores remaining operational for a longer time.
Consequently, the consumer sector witnessed progressive improvement in the demand trends, with discretionary categories and out-of-home consumption also visibly picking up pace.
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