3QFY16 FMCG Results, Falling Volumes is the concern across the board:
1. Most of the big FMCG Companies have reported 3QFY16 results (ITC, Hind Unilever, GCPL, Dabur, Marico). Britannia & Nestle are yet to report the nos.
2. On consolidated basis sales & profit grew less than 5%.
3. Except, HUL, most of the companies reported double digit growth in PBIDT.
4. In ITC, Cigarette volume decline was more than expectation.
5. To maintain volumes, HUL relied on price-cuts and expend more on advertising, and its PBIDT fell by shocking 20%.
6. GCPL had robust volume growth and it seems that it did not passed on the benefit of falling commodities price to the customer, leading to profit growth of 23% on Sales growth of 6%.
7. On Volume front, Dabur was disappointing, but lower input cost helped it in posting 13% profit growth.