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Buy Godrej Consumer Products; target of Rs 1000: Sharekhan

Sharekhan is bullish on Godrej Consumer Products has recommended buy rating on the stock with a target price of Rs 1000 in its research report dated September 28, 2022.

September 29, 2022 / 05:49 PM IST
 
 
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Sharekhan's research report on Godrej Consumer Products


Godrej Consumer Products Limited (GCPL) is strengthening its last-mile distribution, simplifying portfolio with SKU rationalisation, focusing on relevant launches in key categories, investing in consumer awareness, and accelerating wet Hair/FMCG growth, which will drive consistent double-digit growth for Africa business. Africa business’s margins are expected to scale-up from earlier levels of 10-12%, driven by efficiencies at production and procurement level, reduction in fix costs, and better mix in the coming years. Correction in crude prices, freight rates, and palm oil prices (corrected by 60% from April 2022 high) will provide good support to GCPL’s overall OPM going ahead.


Outlook


The stock is currently trading at 44.7x and 38.2x its FY2023E and FY2024E earnings, respectively. We maintain Buy with a revised PT of Rs. 1,000.


More Info


At 17:30 Godrej Consumer Products was quoting at Rs 907.85, up Rs 23.20, or 2.62 percent.


It has touched an intraday high of Rs 918.85 and an intraday low of Rs 887.50.


It was trading with volumes of 28,529 shares, compared to its thirty day average of 47,575 shares, a decrease of -40.03 percent.


In the previous trading session, the share closed up 0.23 percent or Rs 2.05 at Rs 884.65.


The share touched its 52-week high Rs 1,073.00 and 52-week low Rs 660.20 on 14 October, 2021 and 07 March, 2022, respectively.


Currently, it is trading 15.39 percent below its 52-week high and 37.51 percent above its 52-week low.


Market capitalisation stands at Rs 92,839.91 crore.


For all recommendations report, click here


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Godrej Consumer Products - 290922 - khan

Broker Research
first published: Sep 29, 2022 05:49 pm