Buy Godrej Consumer Products, target price Rs 1035: Religare Broking

Religare Broking has buy call on Godrej Consumer Products with a target price of Rs 1035. The current market price of Godrej Consumer Products is Rs 958.35. Religare Broking recommended to keep stop loss at Rs 920.

Godrej Consumer Products, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 98178.75 Crore) operating in FMCG sector.

Godrej Consumer Products key Products/Revenue Segments include Home Care, Personal Care, Hair Care, Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 3642.07 Crore, up 6.13 % from last quarter Total Income of Rs 3431.79 Crore and up 9.54 % from last year same quarter Total Income of Rs 3324.99 Crore. Company has reported net profit after tax of Rs 546.34 Crore in latest quarter.

The company’s top management includes Ms.Nisaba Godrej, Ms.Pippa Tubman Armerding, Ms.Ndidi Nwuneli, Mr.Omkar Goswami, Mr.Narendra Ambwani, Ms.Ireena Vittal, Ms.Tanya Dubash, Mr.Jamshyd N Godrej, Mr.Nadir Godrej, Mr.Pirojsha Godrej, Mr.Sudhir Sitapati, Mr.Sumeet Narang. Company has BSR & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 102 Crore shares outstanding.

Investment Rationale
Fresh breakout on the daily chart. Likely to inch gradually higher from the current levels.

Promoter/FII Holdings
Promoters held 63.21 per cent stake in the company as of 31-Dec-2022, while FIIs owned 24.04 per cent, DIIs 6.73 per cent.