Note: (i) We have taken top consumer companies with market cap above Rs. 50,000 crore. (ii) Dabur had a one-off impact of 85 cr due to de-valuation of its Turkish subsidiary, barring that net profit growth would have been flat (YoY) in Q4 and overall, 10% profit growth in FY22. (iii) Tata Consumer looks like an outlier as it is had undergone business restructuring in the last 2 years