Neutral on Godrej Consumer Products, target price Rs 720: Motilal Oswal

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Neutral on Godrej Consumer Products, target price Rs 720:  Motilal Oswal


Motilal Oswal has neutral call on Godrej Consumer Products with a target price of Rs 720. The current market price of Godrej Consumer Products is Rs 694.45.

Godrej Consumer Products Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 69508.62 Crore) operating in FMCG sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 3070.45 Crore, up 4.83 % from last quarter Total Income of Rs 2929.06 Crore and up 9.60 % from last year same quarter Total Income of Rs 2801.57 Crore. Company reported net profit after tax of Rs 501.90 Crore in latest quarter.

Investment Rationale
GCPL’s performance across geographies has been patchy, with overseas businesses performing particularly poorly on the RoCE front. Pace of domestic sales growth has weakened in recent years, including a patchy performance in 9MFY21 when two of its key segments – Soaps and Household Insecticides (HI)– witnessed favorable tailwinds.


Promoter/FII Holdings
Promoters held 63.2 per cent stake in the company as of Dec 30, 2020, while FIIs held 26.8 per cent, DIIs 3.1 per cent and public and others 6.9 per cent.



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