Consumer Sector Q4 Review- Staples Growth Sustained; Full Recovery In Discretionary Still Awaited: Nirmal Bang
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Nirmal Bang Report
With decline in Covid-19 cases and subsequent rise in mobility, Q4 FY21 witnessed sequential improvement in overall demand.
Sales of our consumer coverage universe grew by 25.8% YoY in Q4 FY21 on a base which was affected by some impact from the outbreak of the pandemic (two-year average growth was in high-single digit).
This was against our estimate of 20.4% YoY, largely on account of better-than-expected performance of paint companies and a slightly better performance by fast moving consumer goods companies.
Non-essential FMCG categories and other consumer discretionary sectors (alcohol-beverage and quick service restaurant) moved from recovery to growth during Q4 FY21.
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