Sector analysis · India
FMCG sector earnings growth, Q3 FY25
The 20 largest Fast Moving Consumer Goods companies by market cap at the end of Q3 FY25 (31 Dec 2024), compared with Q3 FY24.
The top 20 at Q3 FY25
Q3 FY25 vs Q3 FY24: combined net profit ₹13,684 cr (+5%), median EPS +5% (13 of 20 up), market-cap-weighted price −47%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | ITC Limited | 23.2% | 4.28 → 3.94 | −8% | −3.1 pp | +5% |
| 2 | Hindustan Unilever Limited | 21.0% | 10.68 → 12.70 | +19% | +3.6 pp | −13% |
| 3 | Varun Beverages Limited | 8.3% | 0.41 → 0.55 | +34% | +0.4 pp | +29% |
| 4 | Nestle India Limited | 8.0% | 3.40 → 3.61 | +6% | +0.3 pp | −92% |
| 5 | United Spirits Limited | 4.5% | 4.81 → 4.61 | −4% | −0.1 pp | +45% |
| 6 | Britannia Industries Limited | 4.4% | 23.10 → 24.15 | +5% | +0.2 pp | −11% |
| 7 | Godrej Consumer Products Limited | 4.2% | 5.68 → 4.87 | −14% | −0.6 pp | −4% |
| 8 | Tata Consumer Products Limited | 3.5% | 2.89 → 2.82 | −2% | 0.0 pp | −13% |
| 9 | Dabur India | 3.4% | 2.86 → 2.95 | +3% | +0.1 pp | −9% |
| 10 | Marico Limited | 3.2% | 2.96 → 3.08 | +4% | +0.1 pp | +17% |
| 11 | Colgate Palmolive (India) Limited | 2.8% | 12.14 → 11.87 | −2% | −0.1 pp | +6% |
| 12 | Patanjali Foods Limited | 2.5% | 1.99 → 3.42 | +72% | +1.2 pp | +13% |
| 13 | United Breweries Limited | 2.1% | 3.23 → 1.45 | −55% one-off | −0.4 pp | +14% |
| 14 | Procter & Gamble Hygiene and Health Care Limited | 1.8% | 70.52 → 82.74 | +17% | +0.3 pp | −15% |
| 15 | AWL Agri Business Limited | 1.5% | 1.55 → 3.16 | +104% | +1.6 pp | −13% |
| 16 | Radico Khaitan Limited | 1.3% | 5.62 → 7.14 | +27% | +0.2 pp | +57% |
| 17 | Gillette India Limited | 1.2% | 31.90 → 38.66 | +21% | +0.2 pp | +47% |
| 18 | Godfrey Phillips India Limited | 1.0% | 13.61 → 20.25 | +49% | +0.8 pp | +148% |
| 19 | Emami | 1.0% | 5.92 → 6.39 | +8% | +0.2 pp | +7% |
| 20 | Hatsun Agro | 0.9% | 2.58 → 1.84 | −29% | −0.1 pp | −12% |
| Sector earnings growth | 100% | +4.8 pp |
Who joined and who left
0 joined and 0 left the top 20 since Q2 FY25, as market caps moved.
Joined the top 20 since Q2 FY25
Left the top 20 since Q2 FY25
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ITC | +5% | +6% | −1% | 0% | +2% | −8% | +284% | +3% | +3% | 0% | −73% | −16% |
| HINDUNILVR | 0% | +1% | −2% | +2% | −2% | +19% | −4% | +6% | +4% | +121% | +21% | −3% |
| VBL | +32% | +78% | +25% | +26% | +24% | +34% | +30% | +1% | +15% | +35% | +20% | +16% |
| NESTLEIND | +36% | +4% | +27% | +7% | +9% | +6% | −5% | −12% | −24% | +46% | +26% | +48% |
| UNITDSPR | −39% | +63% | +135% | +2% | +1% | −4% | +75% | −14% | +36% | +25% | +28% | +11% |
| 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% |
| 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% |
| UBL | −20% | turned profitable | +730% | +27% | +23% | −55% | +20% | +6% | −65% | +111% | +4% | −9% |
| PGHH | +36% | +10% | −6% | −46% | +1% | +17% | +1% | +137% | −1% | +12% | −2% | −34% |
| AWL | to loss | −18% | +68% | turned profitable | turned profitable | +104% | +21% | −24% | −21% | −34% | +54% | +48% |
| 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% |
| GODFRYPHLP | outside | outside | outside | −10% | +23% | +49% | +30% | +56% | +23% | +9% | +87% | −44% |
| EMAMILTD | −2% | +10% | +4% | +11% | +19% | +8% | +9% | +7% | −30% | +15% | −12% | outside |
| HATSUN | +82% | +24% | +109% | +63% | −17% | −29% | −5% | +13% | +87% | +64% | +2% | −10% |