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Moat vs Mota Bhai

For a long long time, Indian FMCG prided itself on its astronomical return on capital it generated, with the great companies generating north of 50% ROCEs and the top ones sometimes even surpassing 100%! Then, the fire nation attacked.


In today's post, we discuss the latest industry under the attack of Reliance, the everyday FMCG space. Will the time tested moats of these giants sustain, or will the behemoth chip away at another sector's profits?