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    HomeNewsBusinessStocksBuy Godrej Consumer; target of Rs 1790: Edelweiss

    Buy Godrej Consumer; target of Rs 1790: Edelweiss

    Edelweiss is bullish on Godrej Consumer has recommended buy rating on the stock with a target price of Rs 1790 in its research report dated January 30, 2017.

    January 31, 2017 / 14:56 IST
       
       
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      Edelweiss' research report on Godrej Consumer
      Godrej Consumer Products’ (GCPL) Q3FY17 revenue, EBITDA and adjusted PAT (excluding exceptional) grew 9.2%, 13.7% and 12.6% YoY, respectively, and came slightly ahead of estimates. Amidst demonetization, India business was flattish as branded volumes dipped 3% YoY.
      OutlookInternational business clocked organic constant currency growth (CCG) of 13% YoY (28% YoY growth in overall CCG). EBITDA margin jumped 85bps YoY, led by the 345bps YoY expansion in standalone business. International business margins were marred by currency devaluation and marketing spend, but should stabilise. Maintain ‘BUY’.
      For all recommendations, click hereDisclaimer: 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.

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      first published: Jan 31, 2017 02:56 pm

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