Godrej Consumer Products Ltd Share Price – NSE  /  BSE

FMCG, Mid Cap

Godrej Consumer Products Ltd lost 1.11% today to trade at Rs 1232.3. The S&P BSE FMCG Sector index is down 0.1% to quote at 19410.14. The index is down 0.74 % over last one month. Among the other constituents of the index, Gulshan Polyols Ltd decreased 1.04% and Colgate-Palmolive (India) Ltd lost 1.03% on the day. The S&P BSE FMCG Sector index went up 17.38 % over last one year compared to the 25.19% surge in benchmark SENSEX.

Godrej Consumer Products Ltd has lost 0.11% over last one month compared to 0.74% fall in S&P BSE FMCG Sector index and 1.08% rise in the SENSEX. On the BSE, 617 shares were traded in the counter so far compared with average daily volumes of 16298 shares in the past one month. The stock hit a record high of Rs 1299.9 on 01 Feb 2024. The stock hit a 52-week low of Rs 896.85 on 28 Apr 2023.

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The company said that demand in household insecticides has been subdued due to an extended winter in the North and East, GoodKnight Agarbatti launch was well received by consumers. Operating conditions in India continue to remain subdued.

Indonesia business continues to consistently deliver strong performance with doubledigit volume growth and sales growth.

The GAUM (Godrej Africa, USA, and Middle East) organic business delivered high single digit volume growth along with double-digit constant currency sales growth. However, due to Naira devaluation in January, sales in INR terms will see double-digit decline.

At a consolidated level (organic), the company expects to deliver underlying volume growth of high single digit and sales growth of mid-single digit driven largely by currency volatility. EBITDA (including forex) margin continues to expand year-on-year despite increased media investments. Reported underlying volume growth is expected to be in double-digit.

Regarding East Africa Re-organisation, the transaction has been largely completed as of 31st March 2024. In Q4, the expected impact on revenue is Rs 70 crore. The impact of re-organisation is likely to be positive on cash flows.

Godrej Consumer Products is an Indian consumer goods company. The company's products include soap, hair colorants, toiletries and liquid detergents.

The company’s consolidated net profit rose 6.35% to Rs 581.06 crore on 1.54% rise in revenue from operations to Rs 3,622.80 crore in Q3 FY24 over Q3 FY23.

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The company said that demand in household insecticides has been subdued due to an extended winter in the North and East, GoodKnight Agarbatti launch was well received by consumers. Operating conditions in India continue to remain subdued.

Indonesia business continues to consistently deliver strong performance with doubledigit volume growth and sales growth.

The GAUM (Godrej Africa, USA, and Middle East) organic business delivered high single digit volume growth along with double-digit constant currency sales growth. However, due to Naira devaluation in January, sales in INR terms will see double-digit decline.

At a consolidated level (organic), the company expects to deliver underlying volume growth of high single digit and sales growth of mid-single digit driven largely by currency volatility. EBITDA (including forex) margin continues to expand year-on-year despite increased media investments. Reported underlying volume growth is expected to be in double-digit.

Regarding East Africa Re-organisation, the transaction has been largely completed as of 31st March 2024. In Q4, the expected impact on revenue is Rs 70 crore. The impact of re-organisation is likely to be positive on cash flows.

Godrej Consumer Products is an Indian consumer goods company. The company's products include soap, hair colorants, toiletries and liquid detergents.

The company’s consolidated net profit rose 6.35% to Rs 581.06 crore on 1.54% rise in revenue from operations to Rs 3,622.80 crore in Q3 FY24 over Q3 FY23.

Shares of Godrej Consumer Products rose 2.77% to settle at Rs 1,209.35 on Friday, 6 April 2024.

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Revenue from operations rose 1.54% year on year (YoY) to Rs 3,622.80 crore in the quarter ended 31 December 2023.

Profit before tax stood at Rs 783.44 crore in Q3 FY24, registering the growth of 17.79% as compared with Rs 665.11 crore in Q3 FY23.

Consolidated EBITDA grew 16% year on year in Q3 FY24 while EBITDA margin stood at 23.2%.

During the quarter, the India business sales grew by 9% to Rs 2,160 crore and volume rose by 12%. While the Home Care category recorded a rise of 5%, Personal Care category reported a growth of 2%. EBITDA grew by 18% to Rs 641 crore in Q3 FY24.

During the quarter, Indonesia business reported strong volume growth at 9%; sales grew by 7% in constant currency terms. EBITDA margin was at 20.9%, up by 70 bps YoY.

The company's Africa, USA and Middle East cluster delivered sales growth of 14% in constant currency terms while performance in INR terms was impacted by the devaluation of Naira. FMCG categories continued to grow in double digits. EBITDA margin stood at 11.4%, up 250 bps YoY, led by gross margin expansion and mix improvement.

Latin America and SAARC (LATAM) business sales declined by 45% in INR terms and grew by 181% in constant currency terms, on YoY basis. LATAM business has been severely impacted on account of the sharp devaluation of the Argentinian Peso, which has impacted nine months of revenue (due to hyper-inflation accounting). However, the impact on operating profit remains minimal. The upcoming quarter should see normative performance, stated the firm.

Sudhir Sitapati, managing director and CEO, said, “We continue to deliver steady performance in Q3FY24 despite challenging market conditions. Our Consolidated volumes grew by 8%, led by the India business growing volumes at 12% and Indonesia growing volumes at 9%. Our Consolidated revenue growth was significantly impacted by the devaluation of the Naira and the Argentine Peso with sales growing at 2% in INR terms and 19% in constant currency terms.

Our quality of profit continues to improve consistently on the back of superior growth in higher margin countries and categories. Our reported consolidated gross margin improved sharply by 470 bps YoY and 100 bps QoQ. Our EBITDA margin, too, improved by 280 bps YoY, despite continued media investments, which increased by 32% YoY. We continue to remain focused on driving volume-led growth along with healthy investments in our brands and improvement in profitability.

We continue to have a strong balance sheet. We are on track in our journey to reduce wasted cost and are deploying this to drive profitable and sustainable volume growth across our portfolio through category development.”

Godrej Consumer Products is an Indian consumer goods company. The company's products include soap, hair colorants, toiletries and liquid detergents.

The counter hit a life-time high of Rs 1,299.90 in today's intraday session.

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