Buy Godrej Consumer Products, target price Rs 985: Yes Securities

Yes Securities has buy call on Godrej Consumer Products Ltd. with a target price of Rs 985. The current market price of Godrej Consumer Products Ltd. is Rs 937. Time period given by analyst is Intra Day when Godrej Consumer Products Ltd. price can reach defined target.

Godrej Consumer Products Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 95872.09 Crore) operating in FMCG sector.

Godrej Consumer Products Ltd. key Products/Revenue Segments include Home Care, Personal Care, Hair Care, Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 3186.29 Crore, up 9.29 % from last quarter Total Income of Rs 2915.35 Crore and up 8.78 % from last year same quarter Total Income of Rs 2929.06 Crore. Company reported net profit after tax of Rs 478.68 Crore in latest quarter.

Investment Rationale
The stock is on the verge of a breakout from a sideways consolidation phase suggesting bullishness building up. Further, it has taken support at the 200-DMA confirming strength.

Promoter/FII Holdings
Promoters held 63.22 per cent stake in the company as of 31-Dec-2021, while FIIs owned 25.63 per cent, DIIs 5.02 per cent.