Reduce Godrej Consumer Products; target of Rs 699: Dolat Capital

Dolat Capital’s research report on Godrej Consumer Products
GCPLs net sales and EBITDA came in line while APAT was ahead of our estimates. The company has reported 3% volume growth in the domestic market. 85% of the companys portfolio, related to health, hygiene and value for money, delivered 9% sales growth during Q1. HI category posted 27% growth, was a positive surprise, especially considering lockdown in the initial phase of the quarter. We have maintained our FY21E and FY22E EPS at Rs 15.4…

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