Citi's Pre-Q1 FMCG Playbook: Buy Tata Consumer, Britannia, Godrej; Sell ITC, United Breweries
Citi favors food & beverage over home/personal care ahead of Q1 FY26, expecting resilient volume growth despite 2-5% price hikes as commodity costs ease. Top picks include Tata Consumer (12% revenue growth) and Britannia (8% revenue growth); cautious on ITC, Colgate and United Breweries.
Citi's pre-Q1 FMCG playbook: buy Tata Consumer, Britannia, Godrej Consumer; cautious on ITC, Colgate India, United Breweries. Expects resilient volume growth despite price hikes as commodity costs ease, favoring F&B over home/personal care.
Why this matters
Citi's buy call aligns with Tata Consumer's growth push: a targeted 17% Ebitda margin via GT revamp and quick-commerce, plus bets on hydration and RTD tea-coffee for its next growth leg.
Retail-company signals accelerating at +521800% QoQ.