NEW DELHI, Dec. 7 -- Prices of key inputs for the fast-moving consumer goods (FMCG) sector are moving in opposite directions, creating a mixed margin outlook for companies such as Hindustan Unilever, Marico and Parle Products.

Several agricultural inputs and packaging materials, for instance, are getting cheaper, while other commodities such as sugar, coffee, and fishmeal are becoming more expensive, potentially producing an uneven impact on FMCG companies' profit margins.

Industry analysts say that the coming quarters may bring margin relief in some pockets for large food, beverage and home-and-personal-care companies, even as price volatility persists in other key commodities.

"Considering current raw material inflation and GST 2.0 r...