Godrej Consumer Products Share Price: Godrej Consumer shares fall 11% as Q3 business update leads to target price cuts
Shares of Godrej Consumer on Monday fell up to 11% to the day’s low at Rs 1,102 on BSE after a subdued Q3 business outlook shared by the FMCG firm made brokerages reduce their target prices.
In its Q3 business update, shared with investors well before the end of the December quarter, Godrej Consumer said a 20-30% year-on-year surge in palm oil and derivatives prices has impacted the soaps category, which represents one-third of the standalone business revenue.
“To partly offset the cost increases we have taken price increases, reduced grammage of key packs and reduced various trade schemes. Such pricing actions typically have minimal impact on category consumption but do result in reduced inventory across wholesale and household pantry….
