External broker reports(aggregated public sources), IDBI Capital

IDBI Capital

IDBI Capital is a leading Fund Manager in the country for Provident, Pension and Retirement Benefit Funds.

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External broker reports(aggregated public sources)

Equity Bottom-Up

Godrej Consumer Products / Equity Bottom-Up

<p>Godrej Consumer Products (GCPL) result was in-line with our estimates. India business continues to grow at high double digit on a base of 5%YoY driven by strong growth within categories of home care and personal care. GCPL continues to gain market share in soap and hair colour portfolio. In international market; except Indonesia market, which was impacted (zero revenue growth in CC) due to 2nd wave induced lockdowns, performance of other geographies remained promising (48-60%YoY). Gross margin witnessed sharp contraction despite 4-5% price hike during the quarter due to significant increase in raw material prices.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Godrej Consumer Products (GCPL) result was in-line with our estimates. India business continues to grow at high double digit on a base of 5%YoY driven by strong growth within categories of home care and personal care. GCPL continues to gain market share in soap and hair colour portfolio. In international market; except Indonesia market, which was impacted (zero revenue growth in CC) due to 2nd wave induced lockdowns, performance of other geographies remained promising (48-60%YoY). Gross margin witnessed sharp contraction despite 4-5% price hike during the quarter due to significant increase in raw material prices.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Godrej Consumer Products: Q1FY22 Result Review