Consumer Sector — Q2 FY25 Earnings Overview
5 companies reported. 1 bullish, 3 neutral, 1 bearish.
Company Results
| Company | Revenue | YoY | Margin | Sentiment |
|---|---|---|---|---|
| Hindunilvr | ₹15,926 Cr | +2% | 24.0% | neutral medium |
| Asianpaint | ₹8,028 Cr | -5.5% | — | bearish high |
| Kalyan Jewellers | ₹6,065 Cr | +37% | — | bullish high |
| Varun Beverages | ₹4,805 Cr | -2.5% | 24.0% | neutral medium |
| Britannia | ₹4,668 Cr | +4.5% | 17.0% | neutral high |
Key sector risks this quarter
Management acknowledged that Q3 performance depends on rain patterns; continued heavy rains could further impact volumes.
Britannia · highPalm oil, wheat, and cocoa prices remain elevated; import duties on palm oil may persist, pressuring margins.
Asianpaint · highExisting and new players are increasing discounting and dealer incentives, potentially pressuring market share and margins.
Hindunilvr · highCrude palm oil and tea prices rose 10% and 25% YoY respectively, impacting gross margins. Management is taking calibrated price increases but full pass-through may not be possible.
Varun Beverages · mediumAnalyst raised concern about rising competition and high margins; management reiterated long-term margin guidance of 21% but current margins are higher, implying potential normalization.