Religare Broking
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Rural rebound powers 11% Q4 sales growth, but crude and El Niño cloud H1FY27 margins
Q4FY26 marked the strongest rural recovery in years with 11% net sales and 13% profit growth, led by FMCG, autos and value retail. Tractor sales jumped 23% while 2W/PV/CV grew 12-15% YoY in April. Rising crude, packaging and logistics costs alongside El Niño monsoon risks now threaten margins and H1FY27 demand.
Mint · Markets · 5/18/2026, 9:18:07 AM