Axis Securities flags Indian FMCG as dark horse amid West Asia conflict
PMS CIO Naveen Kulkarni argues large FMCG players are positioned to gain from pricing power and weakening unorganized competition. Near-term Q1 margins face crude and gas cost pressure, with recovery expected from Q2 onward as input cost normalize.
Axis Securities PMS CIO Naveen Kulkarni flags Indian FMCG as a dark horse amid West Asia conflict, citing large players' pricing power and reduced competition from unorganized rivals. Q1 margins may be pressured by crude/gas costs, with recovery expected from Q2.