FMCG Sector Q4 Earnings Preview - Growth Momentum Continues: ICICI Direct
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ICICI Direct Report
The fast moving consumer goods sector has seen strong growth momentum in Q2 FY21 and Q3 FY21 on the back of a consumption shift in key categories from the unorganised to the organised sector.
Further, new product launches and e-commerce channel sales have also seen significant uptick.
We believe the growth momentum has continued in Q4 FY21E as well.
Further, low base due to lockdown in March 2020 has further propelled the growth numbers.
Our coverage universe is expected to witness 20.2% revenue growth on account of sales decline of 7-15% in base quarter.
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