Crisil sees FMCG volume growth halving to 2-3% in FY27 as crude shock forces price hikes
Indian FMCG majors HUL, Dabur, Marico, Britannia and Nestle face a sharper margin squeeze in FY27, with Crisil projecting volume growth slowing to 2-3% from 5-6%, even as 6-7% price hikes lift revenue 8-10%. Gross margins seen falling 300-350 bps and Ebitda margins 150-200 bps as West Asia-led crude inflation bites.
Crisil expects Indian FMCG volume growth to slow to 2-3% in FY27 from 5-6%, as West Asia war-driven crude inflation forces HUL, Dabur, Marico, Britannia and Nestle to hike prices, cut marketing and defend margins.