MAM
Inflation bites FMCG consumption, demand remains low
Mumbai: The major players in the FMCG sector, Marico and Godrej Consumer Products Ltd, hint that inflation continued to ‘hit hard’ FMCG industry and demand remained soft in the June quarter.
According to Marico, current trends indicate that consumers “titrated consumption” in some non-essential categories and either “downtraded among brands or switched to smaller packs” in the essential categories.
In its quarterly update for Q1 FY23 Marico said, “In the given context, India business volumes declined in mid-single digits. The performance was particularly dragged by a sharp drop in Saffola Oils. Excluding Saffola Oils, the India business posted marginal volume growth. Parachute Coconut Oil recorded a minor volume decline.”
Marico said it maintains its aspiration of “delivering sustainable and profitable volume-led growth over the medium term”.
According to Godrej Consumer Products Ltd (GCPL), the country’s FMCG industry continued to be “hit hard by inflation levels” leading to successive price hikes as well as impacting volumes during the three months ended June.
A recent update revealed that in the first quarter of the current fiscal, the leading FMCG player said that the rural markets witnessed slower growth compared to urban markets during the period.
GCPL expects to deliver early double-digit sales growth on a high base in India and the growth will be mostly “price-driven”. The company would have “mid-single-digit volumes drop on a high base, with a three-year volume compound annual growth rate (CAGR) close to mid-single digits,” in the domestic market.
“The Indian FMCG industry continued to remain soft during the quarter. It continued to be hit hard by inflation levels aggravating due to geopolitical tensions, leading to successive price increases and impacting volumes,” GCPL said.
Inflation impacts markets worldwide
In recent months, inflation has been on the rise in most markets worldwide.
Among the international markets, GCPL said that Indonesia, which is the company’s second-largest market after India, also faced an impact on consumption and margins.
“In Indonesia, with hygiene performance waning after COVID-19 and a large hygiene comparator in base, we expect a high single-digit sales decline. The sales performance excluding hygiene was largely flat,” it said.
GCPL said that it is putting building blocks in place to drive category development and general trade distribution to ensure gradual recovery in the medium term.
“In Godrej Africa, USA, and the Middle East, we continued our growth momentum across most of our key countries of operations. We expect to deliver double-digit sales growth, with a continued focus on driving sustainable, profitable sales growth,” it said.
Further, it expects constant currency sales growth in the high teens in Latin America business.
“At a consolidated level, we continue to leverage our category and geographic portfolio. We expect to deliver high single-digit sales growth and a three-year CAGR in double-digits,” the company said.
With respect to profitability in the June quarter, GCPL expects lower year-on-year EBITDA (Earnings Before Interest Tax Depreciation and Amortisation) margins.
“This is due to input inflation, upfront marketing investments to drive category development and weak performance in Indonesia,” GCPL said.
On the other hand, Marico’s international business maintained “strong momentum, delivering high-teen constant currency growth.” It experienced growth in all markets and managed to remain on the path of sustained profitable growth.
The company expects “consolidated revenue in the quarter ended marginally higher on a year-on-year basis.”
Dabur’s international business is expected to register a “high single-digit revenue growth” during the April-June quarter in constant currency.
“Overall, the consolidated revenue is expected to grow in the mid to high single digits. We continue to grow ahead of category growths and gain market share in most of our segments,” Dabur said.
Mixed performance in the domestic market
In the domestic market, GCPL witnessed a mixed performance in its personal care and home care categories.
“Personal care sustained its strong double-digit growth trajectory with a two-year CAGR also in double-digits, led by both personal wash and hair colours. Home care witnessed a low single-digit sales drop on a high base. However, the two-year CAGR remained at a high single-digit figure,” it said.
Brands
From mega bills to spontaneous dates: Swiggy Dineout Valentine’s report
From mega bills to last-minute plans, India celebrated love with flair
MUMBAI: Valentine’s Day 2026 was a feast for the senses and wallets alike, according to Swiggy Dineout. India’s on-demand dining platform revealed how the nation celebrated romance with big gestures, lively nights out, and plenty of spontaneous bookings.
Metropolitan hubs continued to rule the roost with Bengaluru, Delhi, and Hyderabad seeing the most reservations. Emerging cities aren’t far behind, with Ahmedabad, Jaipur, and Chandigarh joining the party. Growth was particularly striking in Surat (up 180 per cent), Vadodara (155 per cent) and Bhubaneswar (145.5 per cent) compared with the previous Saturday.
Mumbai stole the headlines with a single customer splashing out Rs 130,155 – the highest bill in the country. The city also hosted the largest single group booking, with 30 diners coming together to celebrate in style. Most Valentine’s transactions took place between 10pm and 11pm, proving love, and hunger, strike late.
Mumbai stole the spotlight with a mega-spender whose bill made everyone else blush, while savvy diners were cashing in on discounts, including a Pune customer saving 60% and another in Bengaluru saving 50 per cent. Fine dining was on fire, with bookings up 121 per cent year-on-year, though pubs, bars, and lounges remained the crowd favourites, accounting for 30.6 per cent of all reservations. Last-minute romance was the order of the day, with 66 per cent of diners booking within two hours of heading out. Together, India saved over Rs 6 crore, proving that love can be grand, yet thrifty.
Bengaluru, Mumbai, and Delhi led the premium dining rush, showing a growing appetite for curated, high-end experiences. Meanwhile, spontaneous bookings reinforced modern lifestyles, where convenience and instant gratification rule the day.
Whether it was big spends, huge groups, or a last-minute romantic dash, Valentine’s Day 2026 proved love and dining go hand in hand – and sometimes, they go all out.
