India Inc breaks revenue slump in Q4FY26, but FMCG margins crack as input costs bite
Revenue growth at 1,234 listed firms widened in Q4FY26, with 21% posting >50% topline gains versus 20% in Q1. Slow-growth share fell to 23% from 36% in Q2. Yet recovery skews to premium consumption, luxury jewellery, infra and capital-market plays — while FMCG faces milk, wheat and edible oil cost pressure heading into FY27.
Q4FY26 revenue recovery broadened across India Inc, but gains concentrated in premium consumption, luxury jewellery retail, infrastructure and capital-market firms. FMCG margins squeezed by milk, wheat, edible oil costs; price hikes and shrinkflation may slow consumer demand into FY27.