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Buy Godrej Consumer Products: Target Of Rs 850: Sharekhan

Sharekhan is bullish on Godrej Consumer Products recommended buy rating on the stock with a target price of Rs 850 in its research report dated November 05, 2020.

Nov 11, 2020 / 11:36 AM IST
 
 
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Sharekhan's research repor on Godrej Consumer Products


Godrej Consumer Products Limited’s (GCPL) revenue grew by ~11% to Rs. 2,915.1 crore with India and international business growing by 11% and 12%, respectively. Domestic soaps category reported strong double-digit growth; household insecticide growth moderated to 4% due to supply disruption. On the international front, Africa and Indonesia grew by 10% and 5%, respectively, during the quarter. HI growth is expected to rebound due to higher consumer demand, while soap will maintain the growth momentum; Africa and Indonesia will maintain the steady performance. We broadly maintain our earnings estimates for FY2021/FY2022/FY2023.


Outlook


We retain our Buy rating on the stock with unchanged PT of Rs. 850 in view of better growth prospects and discounted valuation of 29.5x its FY2023 EPS.


For all recommendations report, click here


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Broker Research
first published: Nov 11, 2020 11:36 am

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