Sector analysis · India
FMCG sector earnings growth, Q2 FY24
The 20 largest Fast Moving Consumer Goods companies by market cap at the end of Q2 FY24 (30 Sep 2023), compared with Q2 FY23.
The top 20 at Q2 FY24
Q2 FY24 vs Q2 FY23: combined net profit ₹12,730 cr (+6%), median EPS +12% (14 of 20 up), market-cap-weighted price +10%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Nestle India Limited | 50.1% | 3.47 → 4.71 | +36% | +2.0 pp | +18% |
| 2 | Hindustan Unilever Limited | 13.4% | 11.34 → 11.30 | 0% | −0.1 pp | −9% |
| 3 | ITC Limited | 12.8% | 3.73 → 3.93 | +5% | +2.3 pp | +34% |
| 4 | Varun Beverages Limited | 2.8% | 1.17 → 1.54 | +32% | +1.0 pp | −9% |
| 5 | Britannia Industries Limited | 2.5% | 20.48 → 24.39 | +19% | +0.8 pp | +18% |
| 6 | Godrej Consumer Products Limited | 2.3% | 3.51 → 4.23 | +21% | +0.6 pp | +9% |
| 7 | Dabur India | 2.3% | 2.77 → 2.91 | +5% | +0.2 pp | −4% |
| 8 | Tata Consumer Products Limited | 1.9% | 3.43 → 3.51 | +2% | +0.1 pp | +9% |
| 9 | United Spirits Limited | 1.7% | 7.61 → 4.66 | −39% | −1.8 pp | +20% |
| 10 | Marico Limited | 1.7% | 2.33 → 2.73 | +17% | +0.4 pp | +4% |
| 11 | Procter & Gamble Hygiene and Health Care Limited | 1.3% | 47.57 → 64.91 | +36% | +0.5 pp | +29% |
| 12 | Colgate Palmolive (India) Limited | 1.3% | 10.22 → 12.50 | +22% | +0.5 pp | +23% |
| 13 | Patanjali Foods Limited | 1.0% | 1.03 → 2.34 | +127% | +1.2 pp | −10% |
| 14 | AWL Agri Business Limited | 1.0% | 0.38 → −1.01 | to loss one-off | −1.5 pp | −55% |
| 15 | United Breweries Limited | 1.0% | 5.07 → 4.06 | −20% | −0.2 pp | −9% |
| 16 | HMA Agro Industries Limited | 0.9% | 0.73 → 0.11 | −85% | −0.2 pp | — |
| 17 | Hatsun Agro | 0.6% | 1.91 → 3.48 | +82% | +0.3 pp | +9% |
| 18 | Emami | 0.5% | 4.17 → 4.09 | −2% | 0.0 pp | +7% |
| 19 | Gillette India Limited | 0.5% | 26.63 → 28.45 | +7% | 0.0 pp | +18% |
| 20 | Radico Khaitan Limited | 0.4% | 4.08 → 4.85 | +19% | +0.1 pp | +15% |
| Sector earnings growth | 100% | +6.2 pp |
Who joined and who left
0 joined and 0 left the top 20 since the previous quarter, as market caps moved.
Joined the top 20 since the previous quarter
Left the top 20 since the previous quarter
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth year on year, every quarter it was in the top 20.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NESTLEIND | +36% | +4% | +27% | +7% | +9% | +6% | −5% | −12% | −24% | +46% | +26% | +48% |
| HINDUNILVR | 0% | +1% | −2% | +2% | −2% | +19% | −4% | +6% | +4% | +121% | +21% | −3% |
| ITC | +5% | +6% | −1% | 0% | +2% | −8% | +284% | +3% | +3% | 0% | −73% | −16% |
| VBL | +32% | +78% | +25% | +26% | +24% | +34% | +30% | +1% | +15% | +35% | +20% | +16% |
| BRITANNIA | +19% | −40% | −4% | +10% | −10% | +5% | +4% | +3% | +23% | +17% | +21% | +14% |
| GODREJCP | +21% | +6% | to loss | +41% | +13% | −14% | turned profitable | 0% | −6% | 0% | +10% | +12% |
| DABUR | +5% | +6% | +16% | +8% | −18% | +3% | −8% | +3% | +6% | +7% | +15% | +15% |
| TATACONSUM | +2% | −21% | −21% | −11% | +5% | −2% | +59% | +15% | +11% | +38% | +21% | +28% |
| UNITDSPR | −39% | +63% | +135% | +2% | +1% | −4% | +75% | −14% | +36% | +25% | +28% | +11% |
| MARICO | +17% | +17% | +5% | +8% | +20% | +4% | +8% | +9% | −1% | +12% | +14% | +25% |
| PGHH | +36% | +10% | −6% | −46% | +1% | +17% | +1% | +137% | −1% | +12% | −2% | −34% |
| COLPAL | +22% | +36% | +20% | +33% | +16% | −2% | −7% | −12% | −17% | 0% | 0% | +7% |
| PATANJALI | +127% | −20% | −22% | +199% | +22% | +72% | +74% | −31% | +67% | +60% | +46% | +86% |
| AWL | to loss | −18% | +68% | turned profitable | turned profitable | +104% | +21% | −24% | −21% | −34% | +54% | +48% |
| UBL | −20% | turned profitable | +730% | +27% | +23% | −55% | +20% | +6% | −65% | +111% | +4% | −9% |
| HMAAGRO | −85% | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| HATSUN | +82% | +24% | +109% | +63% | −17% | −29% | −5% | +13% | +87% | +64% | +2% | −10% |
| EMAMILTD | −2% | +10% | +4% | +11% | +19% | +8% | +9% | +7% | −30% | +15% | −12% | outside |
| GILLETTE | +7% | +40% | −4% | +26% | +43% | +21% | +60% | +26% | +8% | +37% | +21% | +9% |
| RADICO | +19% | +23% | +26% | +13% | +24% | +27% | +71% | +68% | +73% | +62% | +95% | +76% |