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.
What happened
India Inc. · Q4FY26 revenue recovery broadened across India Inc, but gains concentrated in premium consumption, luxury jewellery retail, infrastructure and
Key facts
- 1,234 companies
- 21% Q4
- 20% Q1
- 6% >50% growth
- 30% decline Q4
- 33% Q1
- 36% Q2
- 23% slow-growth Q4
Why this matters
Cost-pressured FMCG mid-caps could become attractive carve-out or roll-up targets in the next two quarters as margin compression separates scale players from sub-scale brands.