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Ten industries in India, from soft drinks to seed and fertiliser. A read of July to September 2026, compiled from public sources. Reports published in early October on that quarter are included.
Across every category
8.6%
India FMCG value growth in Q2 FY27, up from 6.8% in Q1
Rural grew 10.6% against 5.8% in urban. Urban rose from 2.9% in July to 8.2% in September. The figures are value-based and do not track volume.
Source Sahi, 5 Oct 2026
Mixed bag
ICICI Direct's read of the Q2 FY27 outlook for FMCG
Several leading players are expected to post double-digit revenue growth, with profit growth lagging. Crude, HDPE, palm oil and sugar are the pressure points, and passing costs on in the festive season is the open question.
1 to 1.5 months
How long one appliance maker says channel pipelines will last at older prices
Appliance dealers pre-bought at old prices in August and September. Cement dealers kept selling at earlier prices to hit quarter-end targets. Stock and scheme timing decide when a price rise shows up at the outlet.
Source Business Standard (PTI), 4 Oct 2026 · Indian Cement Review, 1 Oct 2026
Soft drinks are adding volume, while spirits grow on premium mix as state excise rules bite.
Total volume rose 19.8% to 466.7 million cases, and management said momentum continued into July.
Prestige and above grew 10.1% in value, while the popular segment fell 17.5%. Policy changes in Maharashtra and Karnataka weighed on the lower-priced range.
Volume-led growth is back for the big food brands, while sugar and edible oils stay costly.
All four product groups grew at double digits, and beverages posted a 20th straight double-digit quarter. The company cited rural expansion, wider direct retail reach and a distributor management system rolled out to sub-distributors.
Source IIFL Finance, 22 Jul 2026
Analysts name palm oil and sugar as key cost variables for packaged foods and personal care, with crude-linked packaging adding pressure. ICICI Direct expects EBITDA growth to lag sales growth as companies absorb part of the increase.
Hair care and beauty lead, while palm oil and crude-linked inputs push prices up.
Overall turnover rose 10%, split equally between volume and price. Palm oil inflation forced price changes in skin cleansing.
A listed personal-care maker expects double-digit India volume growth in Q2 FY27, helped by higher direct reach. Copra is about 35% below its peak, but crude-linked derivatives got more expensive.
Source BW Retail World, 5 Oct 2026
Marico expects a strong year-on-year gross margin gain because copra is cheap, while Godrej Consumer Products said input cost pressures intensified in the quarter. Companies are relying on calibrated price increases, mix and cost controls.
Home care is growing at its fastest pace in three years, while crude-linked packaging is the pressure point.
A household and personal-care major's fabric wash and household care posted double-digit volume growth in Q1 FY27.
Nomura flags higher crude and HDPE as likely to raise packaging costs, and ICICI Direct says most home and personal care companies it covers face EBITDA margin pressure. How much can be passed to shoppers in the festive season is the open question.
The pharma market is growing on price and mix, not units.
Monthly sales were about Rs 23,272 crore. Cardiac grew 15.1% and anti-diabetics 15.0%, while anti-infectives grew 2.7% on units down 5.5%.
Dabur said inflationary pressure remains elevated in home and personal care and in OTC and ethicals. Price increases and cost-saving steps offset part of the margin hit.
Lubricant volumes are growing fast, with pricing used to offset crude and supply shocks.
Revenue rose 32.5%. Passenger car motor oil, industrial, infrastructure and mining all grew at double digits. Management cited unprecedented cost increases and supply constraints from the West Asia crisis, offset with pricing.
Vehicle retail hit a September record, adding to the parc that feeds the aftermarket.
Two-wheelers rose 33.1%, passenger vehicles 32.1%, commercial vehicles 37.6% and tractors 13.8%. FADA called it a base-distorted print after GST changes a year earlier, and passenger-vehicle dealer stock rose to 43 to 45 days.
Source Motor India, 6 Oct 2026
Prices rose just before the festive season, but dealer shelves were stocked at the old ones.
This is the third revision this year. One maker raised room AC prices about 5% from 1 October and LED TVs and washing machines 2% to 3%, citing copper, aluminium, steel, crude-derived inputs, freight and currency.
Makers expect double-digit growth, from 15% to 20% in value at one to 30% to 35% at another. Pre-buying schemes in August and September stocked dealers and distributors at older prices, and one maker said pipelines should last 1 to 1.5 months.
Cement prices rose in September, but dealers did not pass every increase on.
Centrum Broking data shows the South up Rs 11, the West Rs 9 and the other regions Rs 5. Q2 FY27 averaged Rs 351, Rs 1 lower than the previous quarter. Some higher billing rates were not fully passed on because dealers kept selling at earlier prices to meet quarter-end volume targets.
Companies may seek increases across most markets, though Centrum says holding them depends on demand recovery and dealer acceptance. Fuel prices have also risen sharply in recent weeks.
The weakest monsoon since 2015 moves the risk from sowing to yields and rural demand.
Season rainfall was 759.4 mm against a long-period average of 868.6 mm, per IMD data. East and northeast India were 25.6% below normal and the south 24.4%, with Karnataka about 35% short. Major reservoirs held about 70% of capacity, the lowest for the time of year in a decade.
Planting reached about 98% of the normal area by early September. Cotton, maize, soybean, groundnut, tur and bajra are more exposed to yield loss, and September rain matters for rabi sowing of wheat, mustard and chickpeas.
Fertiliser and agri-input companies with high exposure to the eastern and southern states may face inventory or demand challenges, and weak rural incomes could slow packaged-goods spending in affected regions.
Source Whalesbook, 30 Sep 2026
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Compiled from public sources on 11 October 2026. Figures and analyst views are as reported by each source, for that source's own reporting period. Company results published in July and August cover earlier periods, and India FY27 Q2 is July to September. Read-across lines are editorial.
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