Sanjay Manyal, Research Analyst, ICICI Direct analysed some of the FMCG earnings and his picks from that space.

He is not unduly worries of the muted performance by Marico in Q4 and remains positive on the stock. Parachute and Safola saw decline in volume growth which impacted the company’s topline but this could be an aberration.

“Going forward they would be able to growth at 5 percent plus volumes in medium-term,” he said.

He is very pleased with the performance of Varun Beverages.

The company posted 12 percent organic growth and 19 percent volume growth on back of new territories from Pepsico. Moreover, decline in sugar prices will further expand margins for the company. The house remains positive on the stock.

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First Published:May 4, 2018 10:29 AM IST