Mixed bag for companies

▶ Fast-moving consumer goods (FMCG) companies also felt the heat of the second wave and the sharp rise in commodity and energy prices over the past year

▶ Consumer staple makers such as Hindustan Unilever, ITC and Nestlé, and paints major Asian Paints were impacted the least

▶ Consumer durable goods makers, retailers and quick service restaurants (QSRS) have been hit the most in the consumer pack

▶ Lifestyle retailers posted losses in Q1FY22, while QSRS and consumer durable goods makers reported a drop in earnings on a sequential basis

▶ FMCG companies did relatively better, but took a hit on margins over higher input costs

▶ Most analysts see a sharp recovery in companies such as Jubilant Foodworks, Havells, Voltas and Titan while they have gone underweight on FMCG majors