Sharekhan's research report on Godrej Consumer Products
Multiple headwinds, slowdown in rural market, price cuts in key soap brand and softening demand for household insecticides. Company likely to record subdued numbers for yet another quarter in Q1FY2020 (despite recovery in African and Indonesian businesses). Adequate steps undertaken for revival of key domestic categories will show desired results gradually (likely in H2FY2020).
Outlook
We maintain our Hold recommendation on Godrej Consumer Products (GCPL) with an unchanged PT of Rs. 734.
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