Manager - FMCG & Consumer Sector Research

Job Summary:

The individual will independently lead FMCG & Consumer sector research, developing deep understanding of consumer categories, brands, market dynamics and changing consumption patterns. The role will involve identifying and evaluating unlisted and pre-IPO consumer businesses, analysing their competitive positioning and growth drivers, and providing sector expertise for IPO evaluation, due diligence and execution.

Key Responsibilities:

• Lead coverage across FMCG, packaged foods, beverages, personal care, home care, consumer health, beauty & wellness and other consumer-focused businesses.
• Track consumer behaviour, category growth, rural vs. urban demand, premiumisation, pricing, market share and emerging consumption trends.
• Analyse companies based on brand strength, product portfolio, distribution network, channel mix, customer acquisition, pricing power, margins and scalability.
• Research unlisted, pre-IPO and emerging consumer companies, including D2C, new-age brands and businesses expanding through e-commerce and quick-commerce channels.
• Conduct primary market research through management interactions, distributors, retailers, channel partners, customers and industry participants to validate company and sector assumptions.
• Develop financial models, valuation assessments, peer comparisons, category studies and detailed company/sector research reports.
• Provide sector-specific inputs for IPO execution, business due diligence, industry positioning, peer analysis, DRHP/RHP review and transaction documentation.

Critical Requirements:

• 5+ years of relevant experience in in FMCG/Consumer Equity Research, Investment Banking, Merchant Banking, Consulting or Industry Research.
• Strong hands-on experience covering FMCG & Consumer sectors; generalist research experience will not be sufficient.
• Strong understanding of consumer business models, distribution economics, brand building, category dynamics and retail channels.