Beat on EBITDA; focus on TAM expansion

11 Mar 2024
5 Min read 
  • Godrej Consumer's consolidated net revenue grew 1.5% YoY in 3QFY24.
  •  The India business saw 9% YoY revenue growth with a volume growth of 12% YoY.
  •  International performance was impacted by forex, with revenue declines in GUAM and LATAM+SAARC.
  •  EBITDA rose 18% YoY, with the EBITDA margin of the India business expanding to 29%.
  •  The company is focused on expanding TAM for the India business and fixing profitability/growth gaps in the international business.
  •  Reiterate BUY rating with a TP of INR1,350 based on 55x Dec25 EPS.
Login / Open Demat Account to read the report

Never Miss Out on Hot Market Updates

Get exclusive market news delivered to your inbox - on priority