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Buy Godrej Consumer Products: target of Rs 850: Sharekhan

Sharekhan is bullish on Godrej Consumer Products has recommended buy rating on the stock with a target price of Rs 850 in its research report dated December 18, 2020.

December 21, 2020 / 03:14 PM IST
 
 
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Sharekhan's research report on Godrej Consumer Products


Godrej Consumer Products Ltd’s (GCPL’s) management is confident of the India business delivering sustained double-digit revenue growth with its diversified portfolio, new launches and focus on strengthening the core. Changing consumer habits amid COVID-19 has been a boost for as soaps and handwash, while household insecticides are gaining good traction as consumers get cautious. Hair colour range saw V-shaped recovery in Q3. Key long-term triggers for domestic business 1) rising penetration of handwashes and floor cleaners/toilet cleaners 2) better traction for HI in rural markets through new launches and rising caution among consumers and 3) market share gains in core categories such as soaps and hair colour.


Outlook


Rising focus on improving growth prospects of India and the Indonesia business will help the company clock better performance in the coming years. With discounted valuation of 32x FY2023E EPS, we maintain our Buy with a PT of Rs. 850.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Dec 21, 2020 03:14 pm

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