Archive · 19 Nov 2025
JM Financial's Top FMCG Picks: Britannia, Marico, Dabur, Honasa, Bikaji
A financial company called JM Financial has chosen 5 Fast-Moving Consumer Goods (FMCG) companies as their best picks for investment.
These are Britannia, Marico, Dabur, Honasa, and Bikaji.
They think these companies will do well in the next part of the financial year because of things like the festive season and winter benefits.
However, they also warn that we should pay attention to how fast these companies' sales grow and be careful about how much these stocks cost.
JM Financial names 5 FMCG stocks as top picks: Britannia, Marico, Dabur, Honasa, Bikaji
FMCG sales up 7% YoY, EBITDA growth at 2.5% despite GST challenges
Food & Beverage companies outperform Home & Personal Care counterparts
Positive outlook for 2H FY26 driven by festive season and winter benefits
Investors advised to monitor volume growth acceleration and be mindful of valuations
- Who
- JM Financial
- What
- Named top FMCG stocks for investment
- When
- In their latest post-Q2 FY26 sector update
- Where
- In the FMCG sector
- Why
- Based on positive outlook for the second half of the fiscal year
Optimistic View
Cautious View
FMCG Outlook
Optimistic View
Positive due to festive season and winter benefits
Cautious View
Dependent on volume growth acceleration
Valuations
Optimistic View
Attractive for top picks
Cautious View
High (55x NTM PE) with limited headroom for error
- Top Picks
- Britannia, Marico, Dabur, Honasa, Bikaji
- Sales Growth (YoY)
- 7%
- EBITDA Growth
- 2.5%
- NTM PE Ratio
- 55x
- Target Price (Britannia)
- Rs 6,995
- Target Price (Marico)
- Rs 850
- Target Price (Honasa)
- Rs 330
- Target Price (Bikaji)
- Rs 830
- Target Price (Dabur)
- Rs 535