GOLDMAN SACHS ON FMCG

• FMCG earnings growth has accelerated, but investors remain concerned about sustainability in H2. • Key headwinds: weak rural demand after poor monsoons, further input-cost inflation, and a high base from GST rate cuts. • Vulnerability differs significantly across FMCG companies. • Marico and Tata Consumer are seen as having the lowest risk.

S. M. Gold Limited

← Back to feed