Despite geopolitical conflicts in West Asia impacting international markets, leading Fast-Moving Consumer Goods (FMCG) companies like Dabur India and Marico are projecting strong high single-digit growth for the final quarter of FY26, buoyed by robust domestic demand in India.

Photograph: Mansi Thapliya/Reuters

Fast-moving consumer goods (FMCG) companies expect to witness high single-digit growth in the final quarter of 2025-2026 (FY26) as the domestic business remained strong, offsetting the impact of the geopolitical conflict in West Asia.

“The quarter ended March 31, 2026 witnessed steady momentum in the domestic India business, underpinned by a stable macroeconomic environment.

“This strong domestic performance (has) helped (to) offset challenges in our key international markets particularly (the) Middle East, where heightened geopolitical tensions led to demand disruptions and supply chain constraints,” Dabur India stated in its quarterly update released on Friday.

Dabur’s Performance Highlights

The company’s food and beverages vertical saw a sequential improvement and is expected to register low single-digit growth in Q4FY26. Foods, juices, and coconut water recorded a growth rate of over 20 per cent.

“The out-of-home portfolio was impacted on account of unseasonal rains in key markets.

“The Real brand continued to outpace category growth and gained market shares across nectars, juices, and coconut water,” Dabur stated.

Meanwhile, the home and personal care segment sustained its double-digit growth trajectory and is likely to grow in the mid-teens.

This growth is expected to be led by hair oils, shampoo, and home care, which are likely to record growth in the twenties, the company added.

In the healthcare vertical, honey, Honitus, health juices and the Hajmola franchise are expected to report robust double-digit growth, while glucose was impacted by unseasonal rains.

Marico’s Market Outlook

Mumbai-headquartered Marico also stated that the sector witnessed stable demand sentiment during the quarter under consideration.

“We remain hopeful of a gradual improvement in consumption trends in the quarters ahead, while the macroeconomic impact of the evolving geopolitical situation in the Middle East is a key monitorable,” the company stated in a quarterly update.

The company’s India business has sustained a high single-digit volume growth, “with a slight sequential improvement,” it added.

Marico’s key brand Parachute recorded low single-digit volume growth after taking selective pricing actions to pass on value to consumers amid easing copra prices.

Meanwhile, Saffola oils recorded high single-digit revenue growth, driven by improving volumes, and value-added hair oils registered a growth in the twenties.

“With the building blocks of sustainable growth firmly in place, we remain confident of delivering healthy volume-led revenue growth in FY27,” Marico stated.

International Business Challenges

The company’s international business “maintained its stellar momentum, with constant currency growth in the high teens.

“Each market contributed positively, apart from the Gulf region, which was impacted by ongoing geopolitical headwinds in March,” Marico added.

Dabur’s West Asia business was also impacted by the conflict between US, Israel and Iran.

“Our other key markets like Turkey, Bangladesh, and the UK performed well and continue to grow in double-digits in constant currency terms.

“We expect our international business to record low-single digit growth,” the company stated.