GST cuts slowed Q2 FMCG sales, but demand steadied as inventory cleared, analysts note today.

• Retailers cleared stock at old prices, causing a temporary volume dip despite expected GST‑driven demand boost.
• Elara favors Marico, Tata Consumer, and Titan for pricing gains in coconut oil, tea, and gold.
• Colgate, Emami, and Varun face lower volume growth from weather, de‑stocking, and competition pressures in the quarter.