FMCG result update: Riding on recovery hopes
FMCG stocks may have been a safe space during the pandemic but things have changed. Make sense of the results and go beneath the surface in this report.
N V Chandrachoodamani
Chandrachoodamani started his capital market career in mid 2000s with Equity Intelligence India and then worked with several capital market Intermediaries in various roles over the last 15 years. Most of his career experience has been in equity research and PMS. Most recently, he was with MOAT, a PMS firm. He is a graduate in mathematics, a post graduate in finance, and holds a CFP certification. LinkedIn|Twitter
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7 thoughts on “FMCG result update: Riding on recovery hopes”
Dear Sir,
Thanks to your article. If you could have added ITC also (minus their Hotels business) for comparison, it would have given another perspective.
ITC has strong brands in FMCG and also has a rural spread; hence my opinion.
Thanks & Regards.
Welcome your comment sir
ITC still derives most of its profit from Cigarette biz. Maybe if they demerge FMCG then it would become a good choice for comparison. Or otherwise, its FMCG margins scale up to that of Tata Cons – Britannia levels
We will start incorporating it in comparison at some point of time in future
Thank you
Thank You Sir
Nice one
Would have liked to see ITC too on this list
Welcome your comment sir
ITC still derives most of its profit from Cigarette biz. Maybe if they demerge FMCG then it would become a good choice for comparison. Or otherwise, its FMCG margins scale up to that of Tata Cons – Britannia levels
We will start incorporating it in comparison at some point of time in future
Thank you
Hi N V,
1. Thanks for this timely article. FMCG was disappointing, since PI recommendation of Nippon Consumption Fund / It’s Consumption smallcase. The fund has done well recently and is as good as Parag Parikh Flexicap / HDFC Sensex Index Fund. However, the small case is just chugging along.
2. FMCG growth is possibly a slow process, increasing gradually with our country’s growing economy. Need to hold on for another 3 yrs, when it would be time to exit.
Thanks and Regards
Welcome your comments sir
On Smallcase, the idea is to look for good candidates in discretionary consumption space and give time to perform
Comments are closed.