Mumbai: Large consumer goods companies are better placed than smaller rivals to navigate the current bout of volatility, said Marico MD and CEO Saugata Gupta, who expects supply shocks and inflation cycles to widen the gap between scaled incumbents and smaller players even as demand remains steady.

“Large, organised players are in a far better position compared to smaller players. During any crisis, the strong gets stronger and the weak gets weaker,” Gupta added, due to superior supply chain control and balance sheets while smaller firms are more exposed to working capital stress. “Protection against inflation also means your ability to stock up. It’s a question of working capital.”

On Tuesday, Marico posted its strongest volume growth in seven years, with India business volumes rising 8% in FY26 on-year. On a consolidated basis, it reported revenue of ₹13,611 crore, up 26% in FY26. Profit after tax stood at ₹1,762 crore, growing 8% on-year. In the quarter ended March, it posted a 22% rise in revenue at ₹3,333 crore, while net profit grew 14% to ₹391 crore.

“Demand is fairly okay and we are not seeing any stress signs,” Gupta said, citing rural recovery, low food inflation and affordability gains.

Copra, which accounts for roughly half of input costs, has corrected 30-35%, offsetting pressure from crude-linked inputs. “We have taken some marginal price increases already. We are prepared for slightly higher input costs,” the MD and CEO said, adding that Marico had previously absorbed a 100% spike in copra without hurting profitability.

Marico expects to sustain high single-digit volume growth and deliver double-digit revenue expansion, supported by premiumisation, diversification and steady demand. “I don’t see any significant reason to reduce our outlook or optimism. I don’t think FMCG drastically slowed down. What has happened is some incumbents lost opportunities,” Gupta said, adding that larger players are now better positioned to regain share.

Many digital-native brands, he said, struggle to scale beyond ₹500 crore due to weak distribution in general trade, an area where Marico retains a competitive edge. At the same time, Marico is leaning into emerging channels such as quick commerce, which now accounts for roughly 35-40% of its e-commerce business.”We are using quick commerce as a prototyping channel,” Gupta said.