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Quarter Results Of FMCG Firms a Mix Bag The changing dynamics in rural areas, fluctuation in raw materials prices and shift in consumer behavior were reflected in the quarterly results of the FMCG companies

By Shrabona Ghosh

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With growing disposable income people are becoming health conscious and awareness around wellness is increasing. This shift in consumer behavior drives the demand for fast moving consumer goods (FMGC) products such as home care, health care, personal care & cosmetics, food & beverages, amongst others. According to estimates, the FMCG market in India is the fourth largest and a major contributor to the country's economy. As per Kantar data, FMCG spend increased by 8.5 per cent over 2023, higher than the average inflation rate of 5.7 per cent for the year. The changing dynamics were reported in the FMCG companies quarterly results.

Patanjali Foods

Baba Ramdev-led Patanjali Foods in its January-March quarter results for Q4FY24 reported a drop of 22 per cent in standalone net profit at INR 206.32 crore, compared to INR 263.71 crore in the corresponding period last year. Formerly known as Ruchi Soya Industries, the fast-moving consumer goods (FMCG) company's revenue from operations in the fourth quarter of FY24 rose four per cent to INR 8,221 crore, compared with INR 7,873 crore reported in the year-ago period. The company's food & FMCG segment achieved a quarterly revenue of INR 2,704.61 crore in the March quarter compared to INR 2,498.62 crore in Q3FY24, recording a sequential growth of 8.24 per cent. The food & FMCG segment accounted for 32.57 per cent of total revenue from operations in the current quarter.


Marico Ltd has reported a consolidated net profit of INR 320 crore for the fourth quarter of the financial year 2023-24, up 4.9 per cent from the year-ago period. Revenue increased 1.69 per cent from the previous year to INR 2,278 crore. Foods logged 24 per cent value growth YoY, closing the year at approximately four times of its scale in FY20. Saffola Oats maintained its category leadership, while newer franchises continued to scale up on expected lines. Focused initiatives towards scaling the foods business profitably has led to a robust GM expansion of approximately 800 bps in the foods portfolio in FY24. After successful initiatives towards refinements in supply chain and GTM during FY24, the company aims to grow foods at 20 per cent -plus CAGR and scale to twice its current scale in FY27.


Godrej Consumer Products Ltd (GCPL) reported INR1,893.2 crore net loss for the January-March 2024 quarter. The company recorded an INR 452 crore net profit in the year-ago-period. The revenue from operations stood at INR 3,365.11 crore for the reported quarter which rose 6 per cent over INR 3,172.21 crore in the year-ago period. For FY2024, its net sales grew 5.8 per cent to INR13,974 crore over INR13,198.7 crore in FY2023. Its consolidated organic volumes for Q4FY24 grew by 9 per cent, led by the India business growing volumes at 7 per cent and Indonesia growing volumes at 12 per cent.


Colgate-Palmolive India reported a consolidated net profit of INR 379.82 crore for the March quarter, a growth of 20.11 per cent from the year-ago period. Total sales stood at INR1,480.66 crore, rising 10.35 per cent in the year-ago quarter, the personal-care company said in a regulatory filing. The company said in a statement that the firm maintained sequential growth momentum in Q4FY24 on the back of strong performance in toothpaste. Rural markets continued to exhibit positive signs of demand recovery, growing ahead of urban areas.

Despite strong fundamentals, the Indian FMCG Industry is facing various challenges. Reports suggest that factors such as less adoption in rural areas, stringent government regulations on production, consumption, fluctuation in raw materials prices and growing counterfeiting of products are restraining the market growth.

Shrabona Ghosh


A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 
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