India Inc trims FY22 growth outlook over third Covid-19 wave fears

Companies remain cautious about improvement in sales in FY22

Companies manufacturing automotive, durables, and fast-moving consumer goods (FMCG) remain largely cautious about their sales growth outlook for FY22.
 
The reason for this tempering of their forecasts revolves around concern about a third Covid-19 wave, weak consumer sentiment, and commodity inflation, which has pushed many firms to increase product prices.
 
There are outliers, however, such as Bajaj Auto, Mahindra and Mahindra (M&M), and Dabur, which remain bullish about a rebound once the lockdowns are lifted.
 
But the broad consensus among most other firms is that growth would be modest in FY22, given the economic challenges in the