Axis Direct's research report on GSK Consumer
GSK Consumer’s FY17 annual report largely highlights the company’s renewed thrust on the core portfolio by making the brand more relevant through scientific findings and consumer awareness.Company’s performance has weakened in the last couple of years and we feel there is an urgent need to revive the growth back, which is reflected in the measures taken by it in the last few quarters.
Outlook
we expect better volume growth in FY18. We estimate sales and EPS CAGR of 10% and 12% over FY17-19E. The stock is reasonably valued at 28x P/E for FY19E.
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