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KRChoksey Report
Food and hygiene segment outperformed other discretionary businesses in consumer sector in Q1 FY21.
Britannia Industries Ltd. emerged the winner, while Nestle India Ltd. missed the boat and Hindustan Unilever Ltd. and ITC Ltd. performed in food segment.
Britannia reported highest revenue growth of 26.7% YoY, while flat growth of Nestle India was due to delay in resolving supply disruptions.
HUL and ITC displayed growth in the food and refreshment segment. While, both HUL and ITC has approximately 28% share in the food and refreshment business, the growth was higher for HUL mainly due to merger impact of GlaxoSmithKline Consumer Healthcare Ltd.
Discretionary segment such as cigarette and hotel segment for ITC, and Beauty and Personal care segment for HUL were majorly impacted.
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