Q2 shows near-term volumes bottoming out for FMCG cos: Religare

The second quarter of current fiscal will see volumes for fast moving consumer goods (FMCG) bottom out, says Varun Lohchab, Managing Director and Head of Research Religare Capital Markets.  He says Hindustan Unilever (HUL) volumes have also bottomed out and he does not see a V-shaped recovery in its volume growth.He sees a same-store sale growth (SSSG) at 5-6 percent for the next year for Jubilant Foodwork. He adds that Jubilant's growth in the second quarter has come at the cost of margins.For entire interview, watch accompanying video...