Consumer Staples Earnings Review - Improved Mobility Drives Q4 But Near Term Outlook Cautious: Systematix

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Systematix Research Report

The fast moving consumer goods industry continued to recover in Q4 FY21 with the gradual easing of lockdowns and improved mobility.

While discretionary and out-of-home consumption recovered sequentially, categories like healthcare and soap that experienced Covid-19 induced tailwinds saw a moderation in growth.

According to data-analytics firm Nielsen, rural demand continues to drive growth while urban markets also delivered growth in Q4.

General trade and e-commerce channels are growing fast but modern trade remains stifled.

Revenue for our coverage universe grew 20.6% YoY (on a favourable base of down 5.3% YoY) but growth was only 6.8% on a two-year compound annual growth rate basis.

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