FMCG major Reckitt on Wednesday said that net revenue growth of India business for Q3 CY 2025 was impacted due to the transition to the new GST regime in September. However, the company added that sellout performance in India was encouraging during the quarter and year-to-date like-for-like like revenue growth in India remained high single digit through 2025.
On the earnings call for Q3, Kris Licht, CEO, Reckitt said, “Emerging markets had another standout performance, growing 15.5 per cent in the quarter. This reflects broad-based growth across all categories, double-digit growth in a number of smaller but high-potential markets such as Indonesia, Malaysia, and Colombia, and continued strong in-market performance in India and China.”
He added that the company has a “very successful business in India” that has been delivering great performance for a long time.
Shift of trade orders
On the GST impact, Shannon Eisenhardt, CFO, Reckitt said, “India grew low single digit in the quarter, with the change to GST resulting in a shift of trade orders to Q4. Sellout remains strong, and year-to-date our like-for-like net revenue growth in India remains at high single digits.”
She said the impact in Q3 of GST phasing was “low to mid-single digit”. “Year-to-date India’s delivered high single-digit growth, and we expect this to simply be phasing. We expect India to continue contributing in that way going forward,” Eisenhardt stated.
Leading FMCG companies have pointed out that the change in GST rate cuts led to short-term moderation in sales in September as consumers deferred purchases to benefit from lower MRPs while traders focused on liquidating existing inventory.
Published on October 22, 2025
