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Nirmal Bang Report
In Q3 FY21, consumer staples will continue to show an improving trend on the growth front.
Non-essential FMCG categories, which were adversely impacted, are recovering sequentially while some categories (biscuits, hygiene products etc.), which benefitted strongly during H1 FY21 have seen their growth taper down.
Within the consumer discretionary space, it seems that the demand recovery seen by domestic decorative business of the paint companies in Q2 FY21 has sustained post the festive season and will continue to be driven by upcountry market with support from recovering urban markets.
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