Reduce Godrej Consumer Products, target price Rs 628: HDFC Securities

Reduce Godrej Consumer Products Ltd. at a price target of Rs 628.0 .

BCCL
Promoters held 63.24 per cent stake in the company as of June 30, 2020, while FIIs held 24.34 per cent, DIIs 3.1 per cent and public and others 7.32 per cent.
HDFC Securities has given reduce rating to Godrej Consumers with a target price of Rs 628. The share price moved up by 1.44 per cent from its previous close of Rs 677.25. The stock’s last traded price is Rs 687.
Godrej Consumer Products Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 70284.25 Crore) operating in FMCG sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 2311.17 Crore, up 8.37 % from last quarter Sales of Rs 2132.69 Crore and down -.83 % from last year same quarter Sales of Rs 2330.59 Crore Company reported net profit after tax of Rs 395.26 Crore in latest quarter.
godrej-graph


Investment Rationale
The brokerage expects HI and hygiene portfolio to sustain healthy growth while discretionary/OOH will be muted in FY21. It maintains EPS estimates for FY21/FY22/FY23. It values GCPL at 35x P/E on Jun-22E EPS and derives a target price of Rs 628.

Promoter/FII Holdings
Promoters held 63.24 per cent stake in the company as of June 30, 2020, while FIIs held 24.34 per cent, DIIs 3.1 per cent and public and others 7.32 per cent.
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