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Nirmal Bang Report
Through this update, we take a review of how the actual performance panned out for our consumer sector universe (sub-sectors covered: fast moving consumer goods, paints, alco-bev, quick service restaurant) vis-a-vis our estimates for the quarter.
As expected, discretionary categories and out-of-home consumption evidently picked up pace.
Overall revenue for the coverage was 2.3% ahead of our estimate, largely driven by consumer staples. As stated in our preview note, to make better sense of growth numbers, we have also compared topline performance in Q2 FY22 taking Q2 FY20 as the base quarter.
The two-year revenue compound annual growth rate for the entire coverage universe stood at ~8% and was driven by broad-based growth i.e., ~7% in FMCG and ~11% growth in discretionary.
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