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Godrej Consumer Q4 Review - Renewed Thrust On Category Development: IDBI Capital

Godrej Consumer Q4 Review - Renewed Thrust On Category Development: IDBI Capital

<div class="paragraphs"><p>Godrej Consumer’s line up of household insecticides products. (Source: BQ Prime)</p></div>
Godrej Consumer’s line up of household insecticides products. (Source: BQ Prime)

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IDBI Capital Report

Godrej Consumer Products Ltd. result was above our estimates. Revenue growth was entirely driven by price hikes (~12%) as volume declined 3% for India business.

Personal care business continues to dominate overall revenue performance at 20%YoY (for fourth consecutive quarter) while home care performance has been soft (down 2%YoY).

Positively; Godrej Consumer gained 50 basis points/ 130 bps/60 bps market share in household insecticide/Aer/soap.

South Africa continues to outperform while Indonesia is expected to improve from Q3 FY23.

Renewed thrust on category development by driving relevance /access/sampling is promising.

Input cost inflation continued to put pressure on margins (nineth consecutive quarter decline in gross margins).

Click on the attachment to read the full report:

IDBI Capital Godrej Consumer Products Q4FY22 Result Update.pdf

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