Godrej Consumer Products Ltd Share Price – NSE  /  BSE

FMCG, Mid Cap

The domestic indices pared some losses and traded with limited losses in early afternoon trade. The Nifty traded tad above 22,300 level after hitting day’s low of 22,232.05 in mid-morning trade. Realty shares declined after advancing for the past trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex slipped 416.18 points or 0.56% to 73,474.63. The Nifty 50 declined 140.70 points or 0.63% to 22,302.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.65% and the S&P BSE Small-Cap index declined 1.42%.

The market breadth was weak. On the BSE, 993 shares rose and 2,685 shares fell. A total of 136 shares were unchanged.

Politics:

On 7 May 2024, the Lok Sabha elections will enter their third phase with voting in 96 parliamentary constituencies across 12 states such as Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Uttar Pradesh, and West Bengal. The BJP is seeking a third consecutive term, facing opposition from a coalition named the Indian National Developmental Inclusive Alliance (INDIA), which includes the Congress party. This round is part of a seven-phase election process running from April 19 to June 1, with the final election results scheduled to be revealed on June 4.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 4.15% to 17.29. The Nifty 30 May 2024 futures were trading at 22,378.95, at a premium of 112.95 points as compared with the spot at 22,493.05.

The Nifty option chain for the 30 May 2024 expiry showed maximum Call OI of 26.8 lakh contracts at the 22,500 strike price. Maximum Put OI of 36.1 lakh contracts were seen at 22,000 strike price.

Buzzing Index:

The Nifty Realty index declined 3.34% to 956.15. The index advanced in the past trading session.

DLF (down 4.53%), Prestige Estates Projects (down 4.31%), Phoenix Mills (down 3.76%), Sobha (down 3.72%) and Macrotech Developers (down 3.65%) were the top losers.

Among the other losers were Oberoi Realty (down 2.3%), Sunteck Realty (down 2.12%), Godrej Properties (down 1.4%), Brigade Enterprises (down 1.29%) and Mahindra Lifespace Developers (down 0.39%).

Stock in Spotlight:

Godrej Consumer Products (GCPL) rallied 6.57%. The FMCG company reported consolidated net loss of Rs 1,893.21 crore in Q4 FY24 as compared with net profit to Rs 452.14 crore in Q4 FY23. Revenue from operations increased 5.8% YoY to Rs 3,385.61 crore in Q4 FY24.

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Revenue from operations increased 5.8% YoY to Rs 3,385.61 crore in Q4 FY24.

The FMCG company reported pre-tax loss of Rs 1684.47 crore in Q4 FY24 as against pre tax profit of Rs 555.51 crore posted in corresponding quarter last year.

In Q4 FY24, consolidated volume grew by 12%, sales grew by 6% in Rs terms impacted by devaluation, constant currency growth of 30% YoY.

India business volume registered the growth of 15%, sales grew by 12% year on year to Rs 2,007 crore. Indonesia volume increased by 12%, sales grew by 15% in INR terms and 17% in constant currency terms, year on year. EBITDA jumped 12% YoY to Rs 535 crore.

Africa, USA and Middle East sales grew by 16% in constant currency terms but declined by 23% in Rs terms, Year on year. While Latin America and SAARC sales grew in constant currency and INR terms, by 41% year-on-year.

During the quarter EBITDA jumped 18% YoY.

Sudhir, Sitapati, managing director & CEO, GCPL, said, “our consolidated organic volumes for Q4 FY24 grew by9% led by India business growing volumes at 7% and Indonesia growing volumes at 12%. This led to strong full-year organic volume growth delivery at 7% of our consolidated business, 6% for India and 11% for Indonesia. Our consolidated reported revenue growth for Q4 and FY24 both stood at 6%.

Our Quality of profit was good, on the back of superior growth in higher margin countries and categories. Our reported consolidated gross margin in Q4 improved sharply by 340 bps year-on year. Our EBITDA margin, too improved by225 bps year-on year post step up in media investments, which increased by 50% year-on -year. This resulted in an annual growth in EBITDA of 21%.

We continue to remain focused on driving volume-led growth along with health investments in our brands an improvement in profitability.”

Meanwhile, the company’s board has declared an interim dividend of Rs 10 per share for FY24. The record date is fixed as on Tuesday, 14 May 2024. The dividend will be paid on or before Wednesday, 5 June 2024.

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

The scrip rallied 4.61% to Rs 1308.40 on the BSE.

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Godrej Consumer Products announced that the Board of Directors of the Company at its meeting held on 6 May 2024, inter alia, have recommended the interim dividend of Rs 10 per equity Share (i.e. 1000%) , subject to the approval of the shareholders.

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Godrej Consumer Products announced that the 24th Annual General Meeting(AGM) of the company will be held on 7 August 2024.

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