Nuvama sees 15% Q2FY27 revenue growth for FMCG coverage excluding ITC
Nifty FMCG declined 6% over the past six months. Nuvama forecasts 15% Q2FY27 revenue growth for its coverage excluding ITC, but rising costs threaten margins. Later Diwali could shift festive purchases into Q3, while softer copra prices may benefit Marico.
Read the source at Mint · MarketsThe numbers
| Nuvama ex-ITC Q2FY27 volume growth forecast: | 9% |
|---|---|
| Nuvama ex-ITC Q2FY27 EBITDA growth forecast: | 11% |
| FMCG company price hikes: | around 5% |
Why it matters to operators and investors
Nuvama’s Q2FY27 forecasts of 15% revenue, 9% volume and 11% EBITDA growth across its FMCG coverage excluding ITC suggest demand strength but margin pressure.
What to watch next
- Q2FY27 revenue and volume growth versus Nuvama's 15% and 9% forecasts, excluding ITC.
- Q2FY27 EBITDA growth versus the 11% forecast and reported margin changes.
- Company disclosures on cost inflation and realization of price hikes around 5%.
- Q3FY27 festive sales updates confirming or challenging the expected purchasing shift.
The counter-case
The 15% revenue-growth headline masks weaker earnings conversion: projected EBITDA growth of 11% implies margin compression despite roughly 5% price hikes. Those hikes could test demand, while later festive purchasing creates Q2 execution risk. These are forecasts, not reported results.