Godrej Consumers Q4 Numbers Impress Investors, Analysts
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

Godrej Consumer Product shares continued to make gains for the fifth straight session on Thursday as the company reported its earnings for the quarter ended March.

What Happened: The company’s consolidated sales jumped close to 10% at ₹3,172.21 crore as compared to the ₹2,894.15 crore worth of sales it managed in the same quarter last year. Domestic revenue grew 11.4% to ₹1,822.92 crore compared to the ₹1,635.34 crore revenue it reported in the year-ago period.

The company’s net profits for the review quarter grew by 24.47% YoY to ₹452.14 crore, beating consensus estimates of around ₹400-₹425 crore. Earnings per share for the quarter stood at ₹4.42.

See Also: What Is Campa Cola's Share Price And How To Buy?

Analysts were also impressed by the company’s strong numbers. Morgan Stanley maintained its ‘overweight’ rating for the stock with a price target of ₹1,129. JP Morgan also maintained the ‘overweight’ rating for the stock with a price target of ₹990. Domestic brokerage firm ICICI Securities also maintained its ‘add’ rating for the stock raising the target price to ₹1,050 from ₹1,000.

The company also announced that its board also approved the raising of funds by way of issuance of Unsecured Non-Convertible Debentures (NCDs), listed and or unlisted, aggregating to an amount up to Rs. 5,000 crore. The company had last month announced that it would be acquiring the fast-moving consumer goods business of Raymond Consumer Care for ₹2,825 crore.

Price Action: GCPL share price was up 2.27% to trade at ₹984.30 in the early hours of trading on Thursday.

Read Next: What Is Bisleri Share Price And How To Buy

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
EquitiesMarketsMoversTrading IdeasGodrej Consumer Products