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FMCG sector: At the crossroads
Markets
N V Chandrachoodamani

FMCG sector: At the crossroads

Around this time last year, we had analysed the FMCG sector’s March 2022 quarter earnings. At the time, the sector was grappling with twin headwinds of a demand slump and rising input costs. Valuations were still expensive. Most FMCG players have declared their results for the March 2023 quarter.

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Prime stock recommendation - an R&D focused company in the API space
Stocks
N V Chandrachoodamani

Prime Stock Recommendation: An R&D focused company in the API space

It has been a rough ride for the Indian API industry in the past 2 years. A combination of factors including price erosion in US generics, destocking, demand fluctuation, elevated raw material costs and freight costs have hit the margins of many API plays including market favourites such as Divi’s, Laurus and Aarti Drugs. Their growth has also remained at low single digits in this period.
Still, if a company has managed to remain resilient in this period and yet corrected to valuations that make it attractive, it deserves to be noticed.

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