Improving outlook may drive further gains in Godrej Consumer Products

Godrej Consumer Products (GCPL) reported a three per cent year-on-year (Y-o-Y) decline in consolidated net revenue to Rs 3,330 crore, lower than consensus.

In constant currency terms (cc), revenue grew 11 per cent Y-o-Y. The India business clocked nine per cent Y-o-Y revenue growth with volume growth of 8 per cent Y-o-Y.

GCPL has delivered industry-leading volume growth in India and it may record double-digit earnings growth over FY24-26. The introduction of access packs, expansion into new categories and increased advertising are elements in the growth story.

GCPL is working to expand the Total Addressable Market (TAM)