Mumbai: Dabur India Ltd and Godrej Consumer Products Ltd stated that global inflation and El NiƱo conditions threaten demand and supply, yet their operations stay strong and set for solid revenue gains in the June quarter.
Comments from these major FMCG players follow higher input costs from global tensions and fears that weak monsoon rains may reduce farm output and rural spending.
The India Meteorological Department noted El NiƱo patterns strengthening in the Pacific, likely reducing Southwest Monsoon rainfall.
Dabur reported resilient consumer demand despite geopolitical issues and inflation, with sequential business improvement. It forecasts double-digit revenue growth for the quarter. Full-year FY26 revenue rose 5% to ā¹13,193 crore and net profit increased 7.4% to ā¹1,869 crore.
Godrej Consumer Products said El NiƱo may affect weather and rural demand but expects its diversified sourcing to limit effects. It projects high-teens revenue growth in Q1 FY27, above its full-year double-digit target, plus strong volume gains. FY26 revenue grew 8.4% to ā¹15,177.9 crore.
Raw material prices rose after the Iran-US conflict began in February 2026, pushing up inflation. Retail inflation hit a 16-month high of 3.9% in May due to food costs.
Analysts noted steady FMCG revenue growth in the June quarter despite softer general trade. Dabur plans price adjustments in haircare to protect margins, expecting double-digit profit growth. Godrej reported easing input costs late in the quarter and actions to support margins.
