Sharekhan's research report on Godrej Consumer Products
GCPL eyes a weak Q3FY25 in its mid-quarter update with standalone sales volume to remain flat, while a hike in palm oil prices would stress margins. Domestic volume growth to recover gradually with price hikes in soaps to be absorbed in the coming months, while introduction of RNF in LV would improve HI growth prospects. Company maintained its thrust on strategic investments in media and distribution expansion in the rural market in view of long-term growth opportunities in India.
Outlook
Stock has corrected by ~27% from highs and trades at 59x/46x/39x its FY25E/FY26E/FY27E earnings. We retain our Buy on the stock with a revised PT of Rs1,355.
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