Volume growth focuses on increasing sales volume and market penetration, while value growth focuses on increasing sales value through premiumization and higher prices. FMCG companies are shifting from volume-driven growth to value-driven growth as consumers prefer premium products and brands.

Key growth drivers include rising income levels and urbanization, premiumization trends and brand preference, rural market growth and consumption patterns, urban lifestyle changes and consumption, and export opportunities and international markets. Government initiatives like rural development also drive growth.

Evaluate companies based on brand portfolio and market share, distribution network and reach, growth prospects and expansion plans, financial health and margins, innovation and product development, and ESG practices and sustainability focus. Consider both fundamental analysis and technical analysis for better decision making.

Key risks include intense competition and pricing pressure, market saturation and growth slowdown, changing consumer preferences and trends, supply chain disruptions and raw material costs, and regulatory challenges and compliance. Diversification and risk management are crucial.

Use multiple valuation methods: P/E ratios (20-50x range), P/B ratios (3-15x range), EV/EBITDA (15-30x range), and DCF analysis considering growth prospects. Consider brand value, market share, and competitive advantages. Focus on companies with strong fundamentals and growth prospects.