1 month ago
Anand Rathi is bullish on Godrej Consumer Products has recommended buy rating on the stock with a target price of Rs 1360 in its research report dated March 20, 2024.
Broker Research
March 22, 2024 / 12:14 PM IST
Buy
Anand Rathi's research report on Godrej Consumer Products
Godrej Consumer’s efforts to simplify its international business, drive innovation-led growth and better margins are likely to lead to good growth momentum. Its launches (a liquid detergent and new molecule-based [RNF] home insecticide) would aid its domestic growth. Also, divestment of its east Africa operations would boost profits (Rs500m annual accretion from royalties vs. losses/low profits earlier).
Outlook
We are optimistic about its healthy earnings growth (a 22% CAGR over the next two years) and retain a Buy, with a 12-mth TP of Rs1,360 (Rs1,350 earlier), 48x FY26e EPS.
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