FMCG Sector Poised for Healthy Q4FY26 Performance Amid Mixed Headwinds

India’s FMCG sector is expected to deliver a healthy performance in Q4FY26, driven by post-GST volume recovery, easing agri-input costs, and resilient domestic demand. Leading FMCG companies such as

ever (HUL), r, Marico, sumer Products (GCPL), Britannia, and Nestle India are anticipated to report steady revenue growth, with several posting high single-digit to double-digit figures in the domestic business. The quarter has seen a gradual normalisation after the GST 2.0 rate rationalisation in late 2025, which initially caused some disruption in pricing, grammage adjustments, and channel inventory. As these effects subside, FMCG companies are witnessing improved volume traction, particularly in urban markets and select rural pockets. Early business updates from players like Marico and Dabur indicate stable demand sentiment, with Marico expecting strong consolidated revenue growth and Dabur projecting high single-digit growth in its India business.