Sector analysis · India
FMCG sector earnings growth, Q3 FY24
The 20 largest Fast Moving Consumer Goods companies by market cap at the end of Q3 FY24 (31 Dec 2023), compared with Q3 FY23.
The top 20 at Q3 FY24
Q3 FY24 vs Q3 FY23: combined net profit ₹12,935 cr (+4%), median EPS +10% (16 of 20 up), market-cap-weighted price +25%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Nestle India Limited | 52.2% | 3.26 → 3.40 | +4% | +0.2 pp | +36% |
| 2 | Hindustan Unilever Limited | 12.8% | 10.53 → 10.68 | +1% | +0.3 pp | +4% |
| 3 | ITC Limited | 11.7% | 4.03 → 4.28 | +6% | +2.6 pp | +39% |
| 4 | Varun Beverages Limited | 3.3% | 0.23 → 0.41 | +78% | +0.5 pp | −6% |
| 5 | Britannia Industries Limited | 2.6% | 38.71 → 23.10 | −40% | −3.0 pp | +24% |
| 6 | Godrej Consumer Products Limited | 2.4% | 5.34 → 5.68 | +6% | +0.3 pp | +29% |
| 7 | Tata Consumer Products Limited | 2.1% | 3.65 → 2.89 | −21% | −0.6 pp | +42% |
| 8 | Dabur India | 2.0% | 2.69 → 2.86 | +6% | +0.2 pp | −1% |
| 9 | United Spirits Limited | 1.7% | 2.95 → 4.81 | +63% | +1.1 pp | +27% |
| 10 | Marico Limited | 1.4% | 2.54 → 2.96 | +17% | +0.4 pp | +8% |
| 11 | Colgate Palmolive (India) Limited | 1.4% | 8.94 → 12.14 | +36% | +0.7 pp | +65% |
| 12 | Patanjali Foods Limited | 1.2% | 2.48 → 1.99 | −20% | −0.4 pp | +32% |
| 13 | Procter & Gamble Hygiene and Health Care Limited | 1.1% | 63.91 → 70.52 | +10% | +0.2 pp | +19% |
| 14 | United Breweries Limited | 1.0% | −0.07 → 3.23 | turned profitable | +0.7 pp | +5% |
| 15 | AWL Agri Business Limited | 0.9% | 1.89 → 1.55 | −18% | −0.4 pp | −43% |
| 16 | Hatsun Agro | 0.5% | 2.08 → 2.58 | +24% | +0.1 pp | +25% |
| 17 | Emami | 0.5% | 5.38 → 5.92 | +10% | +0.2 pp | +33% |
| 18 | Radico Khaitan Limited | 0.5% | 4.58 → 5.62 | +23% | +0.1 pp | +64% |
| 19 | Gillette India Limited | 0.4% | 22.85 → 31.90 | +40% | +0.2 pp | +29% |
| 20 | Jyothy Labs | 0.4% | 1.68 → 2.48 | +48% | +0.2 pp | +134% |
| Sector earnings growth | 100% | +3.7 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q2 FY24, as market caps moved.
Joined the top 20 since Q2 FY24
Left the top 20 since Q2 FY24
- HMA Agro Industries Limited
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% |
| TATACONSUM | +2% | −21% | −21% | −11% | +5% | −2% | +59% | +15% | +11% | +38% | +21% | +28% |
| DABUR | +5% | +6% | +16% | +8% | −18% | +3% | −8% | +3% | +6% | +7% | +15% | +15% |
| 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% |
| 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% |
| PGHH | +36% | +10% | −6% | −46% | +1% | +17% | +1% | +137% | −1% | +12% | −2% | −34% |
| UBL | −20% | turned profitable | +730% | +27% | +23% | −55% | +20% | +6% | −65% | +111% | +4% | −9% |
| AWL | to loss | −18% | +68% | turned profitable | turned profitable | +104% | +21% | −24% | −21% | −34% | +54% | +48% |
| 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 |
| RADICO | +19% | +23% | +26% | +13% | +24% | +27% | +71% | +68% | +73% | +62% | +95% | +76% |
| GILLETTE | +7% | +40% | −4% | +26% | +43% | +21% | +60% | +26% | +8% | +37% | +21% | +9% |
| JYOTHYLAB | outside | +48% | +32% | outside | outside | outside | outside | outside | outside | outside | outside | outside |